By John Lee. OPEC ministers have failed to agree on a new secretary general and have asked Abdalla el-Badri to stay in the post for another year. Four countries had been competing for the job — Saudi Arabia, Iran, Iraq and Ecuador ...
Tags: OPEC, secretary general, audi Arabia, Iran, Iraq, Ecuador
NYMEX January crude futures settled 98 cents higher at $86.77/barrel Wednesday, as the entire oil complex received a boost from the US Federal Reserve's move to continue its quantitative easing program to stimulate the economy. January ...
Tags: oil, heating oil, refinery, Nymex Oil
Reuters cited Mr Abdul Kareem Luaibi oil minister of Iraq as saying that top oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil that was exported via Turkey without Baghdad's permission. Baghdad is in dispute ...
OPEC ministers gathering in Vienna have two tasks ahead of them on Wednesday: fix crude output policy for the year ahead and appoint a new secretary general to succeed the outgoing Abdalla el-Badri. While the 12-member group appears ...
OPEC kingpin Saudi Arabia has told OPEC it pumped 9.492 million b/d of crude in November, a drop of 232,000 b/d from the 9.724 million b/d it gave as its October output and 181,000 b/d lower than the 9.673 million b/d estimate of Saudi ...
Tags: OPEC, Saudi Arabia, crude oil, energy
According to a Reuters survey, Iran posted increases in its oil output in November. Iranian supply has risen by 40,000 barrels per day to 2.71 million barrels per day. Sources in the survey said that a resumption in sales to South Korea ...
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Reuters reported that Qatar aims to raise the share of solar power in electricity generation to 16% by 2018. An official said that Qatar the world's top exporter of liquefied natural gas has the world's highest per capita greenhouse gas ...
Tags: solar power systems, solar energy panels, solar help, sustainable energy
The Iranian government is preparing the next solar year budget to submit to the Parliament but reportedly with significant difference from current year budget in details. According to the budget law, Iran is expected to sell USD 81 ...
Tags: Oil, Year Budget, budget law
Arab News cited Mr Abdullah Al Badri secretary general of OPEC as saying that ahead of the oil exporting group's meeting in Vienna next week. The market is comfortable as I see it at this time. OPEC is expected to stick with an output ...
Tags: oil exporting, OPEC, global economy, energy demand
OPEC gathers in Vienna this week for a ministerial meeting to decide on the cartel's oil production ceiling as a predicted drop in demand risks weighing on high crude prices despite Middle East unrest. The Organization of Petroleum ...
Tags: Middle East unrest, OPEC, oil, production
There is no question, the jump in pump prices these past few years have shaken the economy and challenged households. The upside is that higher fuel prices have fueled the so-called green revolution and high-tech transportation development. ...
Gulf Oil Review said that as OPEC members meet in Vienna next week they have good reason to feel satisfied. For the first time in history, the average price of the group's basket of oil has been above USD 100 a barrel for 8 consecutive ...
Tags: Gulf Oil Review, basket of oil, oil price, OPEC
Reuters reported that Saudi Aramco Mobil Refinery Company will shut most of the units at its 400,000 barrel per day Yanbu refinery in March to bring a new cleaner fuel project online. Traders said that the outage planned by the joint ...
Tags: Mobil Refinery Company, cleaner fuel project, gasoil and gasoline
MNA reported that Iran's oil revenues during the Iranian calendar year of 1390 which ended on March 19th 2012 amounted to USD 118 billion. And the Islamic Republic's oil revenues during the first quarter of the current Iranian calendar year ...
Tags: oil revenues, oil export, OPEC governor, OPEC
Reuters reported that OPEC crude oil output has declined in November to its lowest since January because of disruptions to Nigerian output and reduced supplies from Angola and Libya. A Reuters survey found that supply from the 12 member ...