Egypt is eyeing foreign investment in its oil and gas industries that could reach about $10 billion in the 2018/19 fiscal year, which would mark
Tag: OPEC
Market Update: China-US Tariff War to Negatively Impact Global Oil Consumption
The world’s oil consumption could be negatively affected by the escalating trade dispute between the United States and China, the International Energy Agency (IEA) cautioned
Market Update: Saudis and Russians Working on a Historic Long-Term Oil Pact
Saudi Arabia and Russia are working on a landmark long-term deal that could extend the limitations on world oil supplies by major exporters for up
Market Update: Azerbaijan in Talks to Join OPEC, Following Energy-Rich Sub-African Countries
Azerbaijan is in talks to join the Organization of Petroleum Exporting Countries (OPEC) as the cartel is looking to bolster its position against the backdrop
Market Update: Iran Doubles Gas Production at the World’s Largest Field
Iran has almost doubled its gas output at South Pars, the world’s largest gas field, in 2017. Gas production at South Pars went up from
Market Update: Saudis Remain Committed to Oil Output Cut Deal
Saudi Arabia is committed to sticking with the petroleum output freeze for the remainder of this year even if it means to “overbalance the market
Oil Markets’ Rebalancing Faster Thanks to Venezuelan Output Cut
Global oil markets are rebalancing fast following a falling supply from Venezuela, which has posted last year’s biggest unexpected production fall and could see further
Market Update: OPEC’s Global Oil Production Cuts Extended till End 2018
OPEC and non-OPEC oil producing countries agreed last week (30 November) to prolong the oil production cuts until the end of next year as they
Russia’s Sakhalin-1 Project Jeopardizes OPEC Output Freeze
Oil production from Russia’s Sakhalin-1 project is poised to go up by about 25% to 250,000-260,000 barrels per day from January 2018, suggesting that the
Nigeria Supports Oil Production Cut Extension Under “Right Terms”
Nigeria supports an extension of the output freeze deal between the Organization of the Petroleum Exporting Countries (OPEC), Russia, and other non-member countries to cut