opec

Algeria Plans Bank Privatisations As Oil Money Dries Up

By Hamid Ould Ahmed ALGIERS, Sept 25  – Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. The plan will open the door for foreign investors to acquire

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OPEC May Decide on Extra Meeting Immediately after Algiers

ALGIERS, Sept 20  – OPEC members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa said on Tuesday. Bouterfa told local radio he was optimistic that participants would reach a consensus on how to stabilise the oil markets at

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Iran Supports Any Move to Stabilize Oil Market: Rouhani

DUBAI, Sept 18 – Iran’s President Hassan Rouhani said Tehran supports any move to stabilise the global oil market and lift prices, the Iranian oil ministry news agency SHANA quoted him as saying on Sunday. “Instability and falling oil prices are harmful to all countries, especially oil producers,” Rouhani was quoted as saying by SHANA.

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Iran Supports $50-60 Oil Price, Stability Measures

By Parisa Hafezi ANKARA, Sept 6 – Iran supports an oil price of $50-60 per barrel and any measure to stabilise the market, state TV quoted the country’s oil minister as saying on Tuesday. “Iran wants a stable market and therefore any measure that helps the stabilisation of the oil market is supported by Iran,”

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BUSINESS OUTLOOK: So Long To Oil Dependency

GCC states must diversify their economies BY Mohamed Zidan More than two months ago, a natural disaster hit Alberta, the oil-rich Canadian province, causing interruption in production for weeks. The wildfire witnessed by the state was devastating to the extent that 90,000 people were evacuated and human activity was completely halted. At the same time, large

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OPEC Deal a Tough Task, as Oil Output Freeze Expectations Rise

By Rania El Gamal and Alex Lawler DUBAI/LONDON, Aug 15 – OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles to a deal. Riyadh sharply raised

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Iraq, Oil Companies Agree to Restart Investment, Boost Output

By Ahmed Rasheed and Aref Mohammed BAGHDAD/BASRA – Aug 11 – Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were halted this year to resume and crude production to increase in 2017, Iraqi oil officials said. The agreements, reached in

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Business Outlook: Oil Prices Are Low, But Not For Long

By Ole Hansen It is said that the best cure for a low price is a low price. This is an apt description for what’s happened in global oil markets these past couple of years. The raised risk of supply disruptions following the Arab Spring in 2011 triggered a three-year period where high but also relatively

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Libya Oil Exports Threatened as NOC Warns Against Port Deal

By Ahmad Ghaddar, Libby George and Aidan Lewis LONDON/TUNIS, July 24 – Libya’s hopes to boost crude exports have been dealt a blow after the head of the National Oil Corporation (NOC) objected to a deal between the government and local guards to reopen key ports. In a letter seen by Reuters to U.N. Libya

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