opec

Iran Oil Minister Says Will Keep Raising Production: Mehr News

DUBAI, April 4  – Iran will continue increasing its oil production and exports until it reaches the market position it enjoyed before the imposition of sanctions, Oil Minister Bijan Zanganeh was quoted by the semi-official Mehr news agency as saying. Zanganeh was speaking at the weekend ahead of an April 17 meeting of OPEC and

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Algerian Army Kills Militants Behind Krechba Gas Plant Attack

ALGIERS, March 20 – Algeria’s army has killed four militants authorities believe were responsible for Friday’s attack on the Krechba gas facility operated by state oil company Sonatrach with BP and Statoil, a security source said on Sunday. Al Qaeda’s North Africa branch claimed responsibility for the rocket attack on the gas plant in central

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April Oil Freeze Meeting May Go Ahead Without Iran

By Rania El Gamal and Alex Lawler March 16 – Oil producers including Gulf OPEC members still support holding a meeting next month to discuss a deal to freeze output even without Iran, OPEC sources said, as political pressure to prop up prices increases. On Monday, Russian Energy Minister Alexander Novak said after talks in

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Iran Plays Hardball with European Oil Buyers, Slowing Exports

By Dmitry Zhdannikov and Alex Lawler LONDON, March 9  – Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran had been unable to

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Balancing Act

By Tarek Fadlallah The maxim not to fight the Fed has proved sound so it’s no surprise that investors have been agonizing over the apparent end to easy money and, by implication, the era of central bank-led asset inflation. The Fed’s action to hike its key interest rate in December is perhaps understandable in the

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Iran Committed to OPEC’s Oil Output Freeze: Iranian Ambassador to Oman

By Leila Hatoum Muscat (Newsweek Middle East)– A day after Iran’s Oil Minister Bijan Namdar Zanganeh ridiculed a decision by the Organization of the Oil Petroleum Exporting Countries (OPEC) to freeze oil output, the Islamic Republic’s Ambassador to Oman said his country “is committed to OPEC’s oil output freeze decision.” Speaking on the sidelines of Iran’s

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Iran Could Decide Fate of First Global Oil Deal For 15 Years

By Rania El Gamal DOHA/LONDON, Feb 17 – The fate of the first global oil deal in 15 years could be decided on Wednesday when OPEC members travel to Iran to persuade the country to participate in a deal to freeze output levels, possibly by offering Tehran special terms. Dominant OPEC power Saudi Arabia and

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Saudis, Russia Agree Oil Output Freeze, Iran Still Obstacle

By Rania El Gamal and Tom Finn DOHA, Feb 16  – Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze output levels but said the deal was contingent on other producers joining in—a major sticking point with Iran absent from the talks and determined to raise production. The Saudi, Russian, Qatari and

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Oil Powers Fly to Doha for Private Pow-Wow as $30 Crude Woes Mount

Feb 16 – Top oil officials from Saudi Arabia, Russia and several key OPEC members will meet on Tuesday for their highest-level discussion in months, a potentially pivotal sign that producers are at last preparing to tackle a devastating supply glut. The talks in the Qatari capital Doha, which had been kept under wraps until

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