Saudi Arabia and non-OPEC Russia have decided to extend production cuts by another 9 months till March 2018 with the aim to tame the global
Category: Mena
Market Update: Oil Prices Rebound With $50 Once Again Becoming Ceiling
Oil prices rebound from five-month lows, following a week of major losses around the world, as investors are still worried about overflowing crude inventories. Even
Powering the MENA Region: North Africa Running Out of Electricity
North Africa is slowly running out of electricity due to rapidly growing population and the fast-paced industrial and economic expansion. Analysts predict that this could
No Exception for Exxon to Drill in Russia as OPEC Extends Output Freeze
The Organization for Petroleum Exporting Countries (OPEC) has decided in favor of an oil output freeze extension. The cartel would extend the global deal to
Qatar Re-Launches Development of the World’s Biggest Gas Field
Qatar has lifted a self-imposed ban on the construction of the world’s biggest natural gas field as it looks to see off an anticipated increase
Market Update: Iraq to Fully Comply with OPEC Production Freeze
Iraq has pledged to fully comply with the agreement to cut oil supply in order to prop up crude prices, OPEC Secretary General Mohammed Barkindo
Fertilizers Update: Morocco’s OCP Profit Down in 2016, But Prospects Bright
Morocco’s state-run phosphates company Office Chérifien de Phosphate (OCP), the world’s leading phosphate exporter, recorded a 52.8 percent fall in full-year net profit in 2016,
Libya’s Oil Output Reduced by 252,000 bpd Due to Riots
Libya’s oil production has been reduced by 252,000 barrels per day – the country’s National Oil Corporation (NOC) announced yesterday (28 March). Oil output from
Market Update: Future of OPEC Oil Output Freeze Extension Unclear
New production projects and a fresh shale boom are likely to boost oil production by a million barrels per year and result in an oversupply
Market Update: OPEC’s Output Cut Not Working as Expected
OPEC’s efforts to tame global oversupply of oil and gas have so far had a little effect as demonstrated by the fact that Asia is