News // Middle East and OPEC
Although the tone of some Organization for the Petroleum Exporting Countries earlier this year was that the global market was already rebalancing, two of the cartel's leading ministers now say in order for the rebalancing to work, non-members must contribute to the OPEC cutback scheme that was ratified last week.
08 December 2016 , 18:03Neftegaz.RU9520
Russia was pivotal in the decision last week by members of OPEC to agree to a production ceiling starting in January, Venezuela's oil minister said.
08 December 2016 , 12:08Neftegaz.RU7870
OPEC Secretary General Mohammad Barkindo said that OPECs’ decision to cut production and comply with the committed output levels is not contingent upon the outcome of the meeting with non-OPEC countries scheduled to take place on December 10, 2016.
06 December 2016 , 17:25Neftegaz.RU8560
Azerbaijan’s Energy Minister Natig Aliyev will participate in OPEC’s meeting with non-OPEC countries that will be held on December 10 in Vienna.
06 December 2016 , 12:09Neftegaz.RU7900
President Hassan Rouhani said that Iran has no limit for oil production and exports in the coming months.
05 December 2016 , 10:03Neftegaz.RU11850
Oil traders’ attention will turn to Russia following Opec’s landmark decision on crude output, said a prominent petro-economist.
01 December 2016 , 12:33Neftegaz.RU7850
The price of oil is surging after reports that the oil producers cartel OPEC has agreed a deal to cut output.
30 November 2016 , 18:04Neftegaz.RU10320
With only a few days to go before OPEC Vienna meeting to ratify its oil cutback deal, and amid disturbing developments such as Saudi Arabia saying it will not attend a pre-meeting of non-OPEC members.
28 November 2016 , 11:03Neftegaz.RU8600
After earlier this week OPEC tabled the issue of Iran’s and Iraq’s participation in the OPEC deal until November 30, the markets might have thought there would be little jawboning left to do until that day. But not so fast.
25 November 2016 , 17:37Neftegaz.RU7490
Iranian Oil Minister Bijan Zanganeh said he’s optimistic that OPEC members will agree to proposed production cuts at a meeting in Vienna later this month.
22 November 2016 , 14:09Neftegaz.RU8000
Major oil-producing nations could implement a freeze in output levels as a tool to bring the market back into balance, Russia's energy minister said.
21 November 2016 , 13:00Neftegaz.RU6680
Talks over production levels are expected to yield positive results, including any talks with Iranian representatives gathered in Doha, a Russian minister said.
18 November 2016 , 12:05Neftegaz.RU7710
Saudi Arabia’s Energy Minister Khalid al-Falih and his Russian counterpart Alexander Novak are said to be heading to Qatar later this week for an unscheduled meeting, according to industry sources quoted by Reuters.
16 November 2016 , 18:00Neftegaz.RU8640
Hyundai and Saudi Aramco have inked contracts for the company’s Uthmaniyah Ethane Deep Recovery Project.
16 November 2016 , 16:02Neftegaz.RU29520
Israel's energy minister Yuval Steinitz sees a very rosy future for Israel's natural gas economy in general and for gas exports in particular.
15 November 2016 , 14:11Neftegaz.RU9080
Managing Director of the National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi says after 36 years, Iran will stop gasoline imports.
14 November 2016 , 17:32Neftegaz.RU6560
As lifting of sanctions on Iran boosted the influx of Iranian crude into international oil markets, some analysts and industry experts reckon that Iran and Russia are likely to be forced to compete with each other for market share in European and Asian markets, especially in the wake of growing tensions between Russia and Europe.
14 November 2016 , 00:09Neftegaz.RU22230
Even though their political predictions were once again proven spectacularly wrong with the surprise election of Donald Trump as the 45th U.S. president, analysts lost no time worrying that his win will upset OPEC attempt to prop up oil prices.
10 November 2016 , 14:11Neftegaz.RU6830
By most counts, the long-standing rivalry between Saudi Arabia and Iran flared up again at the worst possible time, reportedly during the recent meeting among OPEC that was intended to pave the way for ratification of an oil output reduction deal later this month.
08 November 2016 , 18:00Neftegaz.RU9020
Russia is a crucial partner in addressing energy challenges and both sides are committed to stable oil markets, said OPEC Secretary General Mohammed Barkindo.
24 October 2016 , 15:31Neftegaz.RU7770