OPEC

Location: Austria Job Profile In cooperation with the Regional Director, the Country Director leads and oversees the identification, development, appraisal, approval and implementation of public sector projects. The position contributes to the development of policies and strategies in the countries of the portfolio and supports the achievement of regional and departmental objectives and targets. The …

After raising N203.91 billion from 29 investors, the Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), is demanding rapid exploration for crude oil to boost efforts to achieve the production quota set by the Organization of the Petroleum Exporting Countries (OPEC) and meet local refining needs. The BusinessDay findings showed that Nigeria lost …

U.S. oil production last week held at a record high for the year as overall oil demand increased, driven by consumption of travel fuels, the Energy Information Administration reported Thursday. (EIA) of the United States. Producers pumped 12.1 million bpd for the week ended July 1, according to the EIA’s weekly State of Oil report. …

RUSSIA, July 6 – I express my deep and sincere condolences to the family, friends and colleagues of Mohammad Sanusi Barkindo. Mr. Barkindo was a brilliantly trained economist, industrialist and manager. Mr. Barkindo has devoted many years of his professional life to the development of the oil and gas industry in his native Nigeria and …

The outgoing Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Barkindo, expressed confidence that the worst is over and that the future looks very bright for the organization which has survived the major turmoil between 2016 and 2020. He spoke on Tuesday when he was received by President Muhammadu Buhari at …

TEHRAN – The Organization of the Petroleum Exporting Countries (OPEC), in its Annual Statistical Bulletin 2022, estimated Iran’s daily refining capacity in 2021 at 2.202 million barrels, indicating an increase of 1,000 barrels per day ( bpd) compared to 2020. Iran’s refining capacity increased by more than 480,000 bpd between 2011 and 2021, according to …

LONDON (Reuters) – OPEC failed to deliver on a June oil production boost promised under a deal with allies, a Reuters survey showed on Friday, as unintended cuts in Libya and in Nigeria offset supply increases from Saudi Arabia and other major producers. The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.52 million barrels …

The sun rises behind a crude oil storage facility May 5, 2020 in Cushing, Oklahoma. Oil prices fell on Wednesday after rising in the previous three sessions, but losses were limited as global supply tightening will continue as big producers such as Saudi Arabia have little room to increase their production. Johannes Eisele | AFP …

(MENAFN- Kuwait News Agency (KUNA)) VIENNA, June 27 (KUNA) — The price of OPEC‘s basket of oil rose by 1.26 USD to 112.35 USD per barrel on Friday from 111.09 USD on barrel Thursday, the organization reported Monday.The Bulletin of the Organization of the Petroleum Exporting Countries (OPEC) added that the annual average price of …

The Organization of the Petroleum Exporting Countries (OPEC), said on Friday that its recent achievements in the African region would have remained elusive had it not been for the role of the African Refiners and Distributors Association (ARDA). In a letter dated June 23 to ARDA Executive Secretary Anibor Kragha, OPEC Secretary General Mohammad Sanusi …

Placeholder while loading article actions A tsunami of oil and gas from the technique called fracking has made the United States the world’s largest producer of the two, giving the country the energy independence its leaders have sought for decades and shaking up the geopolitics of global trade. ‘energy. Now, as the world clamors for …

VIENNA — The Arab Coordination Group (ACG) is taking action in response to the global food supply crisis. Initially, the group is providing an initial $10 billion for immediate relief and long-term support. According to the latest United Nations estimates, around 49 million people worldwide are at risk of falling into starvation conditions in the …

Two years ago, at the height of the pandemic, BP wrote in its Annual Energy Outlook that global oil demand peaked at around 100 million bpd in 2019, and was only going to decline further due to the effects of the pandemic and the accelerating energy transition. Barely two years later, BP is admitting he …

Since 2002, we have published our estimates of OPEC production capacity and excess capacity in our Short Term Energy Outlook (STEO). This data series is a useful indicator of tensions in the global oil market. The large excess production capacity figures suggest that OPEC has restricted crude oil production in the past to avoid oversupplying …

Venezuelan President Nicolas Maduro visited Kuwait on Monday and held talks with the crown prince of the small, oil-rich country, state media reported. “We are on this necessary tour to reactivate the bonds of work, cooperation, community, solidarity, brotherhood,” Maduro said from Kuwait in a televised conversation with his collaborators in Caracas. Maduro …

Ukraine refugee crisis: Bombings and food shortages hit Ukrainian neighborhoods, churches offer help Russia’s assault on Ukrainian cities continued, including Russia’s disputed claim to have taken control of its first major city, Kherson, and a strike against Ukraine’s second largest city, Kharkiv, which has led an official to call Kharkiv “the Stalingrad of the 21st …

OPEC+ again fell short of its oil production targets in May due to continued production declines in many OPEC members, according to an S&P Platts survey, as cited by Herman Wang, OPEC and Middle East Editor. In April, OPEC alone missed its target of 2.7 million barrels per day, and although there was a slight …

The latest development on the supply side will have immediate geopolitical and financial implications that go far beyond the oil market. By Mohamed A. El-Erian Published: Tue, June 7, 2022, 10:50 PM Fluctuating Chinese demand has contributed to the volatility of international oil prices this year. But the latest development on the supply side will …

LAUNCESTON: The gap between what is being said in crude oil markets and what is actually happening in the physical trading world has been illustrated by an OPEC+ group commitment to increase production, followed by its main member, the Saudi Arabia, by raising prices. The OPEC+ producer group said after its meeting last week that …

Bad news was seen as good news yesterday, and US equities reversed their losses on the back of a sharply below-expected ADP report, which showed the US economy added the lowest number of private payrolls since the start of pandemic recovery. The sharp disappointment over the data reignited Federal Reserve (Fed) hawks and raised the …

US indices started the new month on a negative note. The S&P500 fell 0.75% and the Nasdaq closed down 0.72%, on Jamie Dimon’s ‘hurricane’ warnings, a stronger than expected ISM manufacturing PMI and higher job vacancies than expected, which fueled hawkish expectations from the Federal Reserve (Fed). The US 10-year yield rebounded above the 2.90% …

How close is today’s oil market to the crude crisis of the 1970s? We were asked if today’s oil market is similar to that of the oil price crisis of the 1970s. middle term. The 1973 Arab oil embargo led to a fivefold increase in the price of crude. Crude prices have averaged near $2 …

One is shocked and dismayed by the role played by the developed countries in the destruction of one oil-producing country after another. Over the years, they have teamed up with the United States to impose embargoes and/or virtually destroy oil-producing countries like Iran, Iraq, Venezuela, Libya, and Russia being the latest target. It can be …

Placeholder while loading article actions For nearly two decades, lawmakers in Washington pushed legislation that would rein in the Organization of the Petroleum Exporting Countries. Faced with an almost certain presidential veto, the proposal never crossed the finish line. Now the legislation is getting a makeover amid soaring gas and oil prices. 1. What would …

Crude oil rebounded to $111 a barrel as global oil reacts to Russia’s invasion of Ukraine amid OPEC‘s stance on Russia Due to rising demand and global fallout from Russia’s invasion of Ukraine, oil prices have soared this year China has imposed a series of strict containment measures to tame COVID-19 outbreaks, hurting Asia’s biggest …

Saudi Arabia has signaled it will back Russia as a member of the OPEC+ oil producer group despite tougher Western sanctions on Moscow and a possible EU ban on Russian oil imports. Prince Abdulaziz bin Salman, the energy minister, told the Financial Times that Riyadh hoped to “find a deal with OPEC+”. . . which …

Europe is counting on the Middle East as a key LNG supplier to replace Russia, but EU pressure on Gulf states to embrace energy transition faster is already driving a wedge between them. In a report outlining the European Commission’s priorities for engagement with the Gulf, EU leaders said on May 18 that they aimed …

Democratic Sen. Joe Manchin said on Tuesday he did not invite Jason Kenney to appear before the US Senate Energy and Natural Resources Committee to “question the past” – namely the disposal by President Joe Biden of the Keystone XL pipeline. Yet that is what many Republican members of the committee took advantage of, using …

An aerial view shows an oil facility of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory Credit Kyodo/via REUTERS Join now for FREE unlimited access to Reuters.com Register EU hopes for Russian oil embargo deal in May, diplomats say China’s April oil refinery output …

The President of the United Arab Emirates (UAE), Sheikh Khalifa bin Zayed Al Nahyan, died on Friday, the official news agency of OPEC‘s third-largest producer reported. Sheikh Khalifa bin Zayed Al Nahyan suffered a stroke in 2014 and since then has rarely participated in the daily affairs of the UAE. His half-brother, Abu Dhabi Crown …

To quote Jack Nicholson as Colonel Nathan Roy Jessup in A Few Good Men: When it comes to the OPEC oil cartel, American politicians can’t handle the truth. The Organization of the Petroleum Exporting Countries has been a useful bogeyman for legislators since the first oil shock in 1973. It’s an easy target, and one …

OPEC chief visits Venezuela to strengthen bilateral relations Monday, May 9, 2022 – 19:28 UTC Barkindo will be replaced in August by Haitham al Ghais. OPEC Secretary General Mohammed Barkindo traveled to Venezuela to strengthen bilateral relations between the rich South American oil-producing country, which is one of 13 countries that make up …

OPEC+ to increase production by 432,000 bpd from June OPEC says Chinese lockdowns are hitting demand No discussion on EU embargo on Russian oil LONDON, May 5 (Reuters) – OPEC+ agreed to a further modest increase in monthly oil production on Thursday, arguing the producer group could not be blamed for Russian supply disruptions and …

U.S. oil producers were active by 2022 standards last week. However, total production remained flat for the third consecutive period and remained well below pre-pandemic levels, the US Energy Information Agency (EIA) said on Wednesday. Production for the week ending April 29 totaled 11.9 million bpd, according to the EIA. This corresponded to the high …

The data revealed the huge revenue Nigeria has lost over the past four months due to its inability to produce enough crude oil for sale According to data compiled by the Petroleum Resources Organization, Nigeria has failed to produce more than 53 million barrels of oil for sale The crude oil production gap has cost …

Graphic art of President Joe Biden. | Photo credit: License Pixabay The Biden administration faces another challenge to its agenda, this time from within its own faction. After several months of extremely high gas prices and the resulting backlash, President Biden fought feverishly to bring prices down – going so far as to release nearly …

Oil prices rose for the fourth day in a row as concerns over Russian supply disruptions outweighed expectations of reduced demand in China. Brent Crude climbed 1.7% to $109.40 a barrel, while WTI Crude rose 1.03% to $106.50 a barrel. Both contracts are set to end this week and post their fifth consecutive monthly gains, …

Alaska North Slope crude rose 2 cents on April 27 to close at $109.69 a barrel. West Texas Intermediate jumped 32 cents to close at $102.02 and Brent gained 33 cents to close at $105.32. The day’s modest gains belied the choppy week of trading that preceded it. ANS rose $2.93 on April 26 to …

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Dr. Mohammad Sanusi Barkindo, has joined the Editorial Advisory Board of Valuechain Oil and Gas Magazine as Alternate Chairman. The new eight-member council is headed by the President and Emir of Kano, HRH Aminu Ado Bayero, oil sector publication officials said in a …

The Organization of the Petroleum Exporting Countries (OPEC) has sympathized with the government of Imo, following Friday’s explosion of an illegal refinery in the Abaezi forest in the Ohaji-Egbema local government area of ​​l ‘State. OPEC sent its condolences in a letter signed by its secretary general, Mohammad Barkindo and addressed to the governor of …

Private Indian conglomerate Reliance Industries has purchased at least 15 million barrels of Russian crude at a discount since the start of Russia’s invasion of Ukraine, Reuters reported on Friday, citing trade sources and tanker data, as Indian refiners are enjoying record discounts for Russian crude shunned in the west. Reliance Industries – which has …

TRSDC and AMAALA look at electric vehicles and hydrogen cars as part of sustainable mobility solutions RIYADH: The Red Sea Development Co. is taking all possible measures to ensure that the megaproject achieves its goal of sustainability. Andreas Flourou, executive director of operations and mobility at TRSDC, told Arab News that efforts are underway to …

kaedeezign/iStock via Getty Images A guest post by Dr Coyne OPEC‘s Monthly Oil Market Report (MOMR) for April 2022 was released last week. The last month reported in each of the graphs that follow is March 2022 and the production reported for OPEC countries’ crude oil production is in thousands of barrels per day (kb/d). …

JEDDAH: Serious athletes or hardcore enthusiasts during the holy month tend to exercise before and after breaking their fast, which leads to overcrowded health centers. Since the start of Ramadan, gym activity in Jeddah has exploded, especially since gyms and fitness centers often offer attractive discounts on memberships and group exercise packages during the Holy …

Shares of Oil and Natural Gas Corporation (ONGC) and Oil India soared as much as 4% on BSE in intraday trading on Wednesday. This was despite a lackluster show by benchmarks Nifty50 and BSE Sensex. Stocks gained on soaring crude oil prices. Watch the Zee Business live stream below: State-owned Oil India climbed 4% on …

Russia’s war in Ukraine threatens global crude supplies, but a resurgence of the coronavirus in China is dampening demand as the United States and other countries prepare to release oil from strategic reserves. Result: volatile prices. Brent crude prices climbed more than 6% on Tuesday to around $104 a barrel intraday following OPEC Secretary General …

If you were hoping for much cheaper gas soon, I have bad news: prices probably won’t drop much for at least a few months. The causes of more expensive gas will likely be with us for some time. After pushing US prices over $4 a gallon, Russia’s war in Ukraine continues with no clear end …

OPEC does not have the extra spare capacity to increase crude oil production much more than it does today, Nigerian Oil Minister Timipre Sylva told Anadolu Agency on Friday. “It’s not something you can turn on a tap for at this point. You have to have the extra capacity, the spare capacity to tap into, …

HE Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, will participate in the main investment platform in Africa, African Energy Week (AEW), which will take place from October 18 to 21, 2022 in Cape Town under the theme “Exploring and investing in Africa’s energy future while fostering an enabling environment.” As Minister …

The price of the Organization of the Petroleum Exporting Countries (OPEC) 13-sample basket of crude oil closed Wednesday at $110.46 a barrel. OPEC Secretariat calculations as published by OPEC on its website show yesterday’s closing rate was a huge drop from the $115.99 a barrel it was showing at the end of the month. Friday …

Two dozen individual consumers filed a massive lawsuit last Monday in federal court in San Francisco alleging an antitrust conspiracy two years ago by major oil companies to cut global oil production in order to raise the price of gas. The defendants include Exxon Mobile Corporation, the world’s largest oil company, Chevron Corporation, headquartered in …

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DUBAI- The King Abdullah Petroleum Studies and Research Center (KAPSARC) participated in the World Energy Forum, which kicked off in Dubai on Monday in conjunction with the 2022 World Government Summit during Expo 2020 , in collaboration with the Atlantic Council. The forum will last two days and will address the prospects for energy security …

1. OPEC exports are disappointing despite high prices Source: Kpler. – The Russian-Ukrainian war has taken OPEC heavyweights out of the public eye, somewhat masking the fact that OPEC+’s 400,000 bpd monthly increases consistently end up being underproduced. – Saudi Arabia is the only major OPEC producer to see a tangible rise in exports in …

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina/File Photo Join now for FREE unlimited access to Reuters.com Register LONDON, March 24 (Reuters) – OPEC officials believe a possible EU ban on oil from its Russian …

A former Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), King Edmund Daukoru, has urged host oil communities to support investors and companies in their field and refrain from burdening them with onerous demands. Emphasizing that this will enable them to thrive in a sustainable manner, the Amayanabo of Nembe Kingdom in …

OPEC Secretary General Mohammad Barkindo attends a session during the 5th Egyptian oil show ‘EGYPS 2022’ in the capital of Cairo, Egypt February 14, 2022. REUTERS/Amr Abdallah Dalsh Join now for FREE unlimited access to Reuters.com Register ABUJA, Feb 28 (Reuters) – The OPEC chief and ministers from major African oil-producing nations on Monday defended …

Since the Paris Agreement in 2015, the oil market and investors have seen a growing gap between the highest and lowest demand scenarios from major forecasting agencies, to the point that the gap has widened to a larger than the current oil market at 100 million barrels per day (bpd), the Riyadh-based International Energy Forum …

gHello. There’s some (must-have) positive data to start your Friday, after the latest GDP figures showed the UK economy recorded its strongest growth since World War II last year. GDP grew by 7.5% in 2021 – the biggest increase in 80 years. It also means Britain has moved ahead of other major economies in the …

Has Nestlé found a miracle solution that will help improve the incomes of Ivorian cocoa farmers? That’s the question people are asking after the Swiss-based multinational introduced an ambitious bonus scheme on January 27. The program is expected to benefit some 10,000 farming families in Côte d’Ivoire this year and then expand to Ghana from …

15 hours ago The federal government yesterday launched the first Presidential Power Initiative (PPI) Grid Development Studies training as part of efforts to address distribution challenges. 1 day ago A 63-year-old woman, Mrs. Temitope Ogundipe, gave birth to a baby boy through in vitro fertilization (IVF) at Olives Specialty Hospital, Ado-Ekiti. 1 day ago Instagram …

South American countries could form “OPEC of lithium” Tuesday, January 18, 2022 – 20:30 UTC The political position of future Chilean President Gabriel Boric will facilitate integration Developers in Argentina, Bolivia, Chile and possibly Peru are weighing the idea of ​​creating an association of lithium-producing countries that will function as the ore’s OPEN for the …

The advance payment of the January pension, the payment of the extraordinary financial assistance of 250 euros to low-income retirees, recipients of OPEC disability benefits and uninsured elderly people, as well as the payment of benefits OPEC’s regulars for the month of December are included in the budget. and Social affairs and supervised organizations for …