- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
OPEC maintains production during 1st half 2016
The Organization of Petroleum Exporting Countries decided to maintain its output at 31.5 million barrels per day, group president and Nigerian oil minister Emmanuel Ibe Kachikwu said after the December meeting of OPEC ministers in Vienna. Guided by its biggest producer Saudi Arabia, OPEC has maintained output to force higher-cost producers to reduce their production.
OPEC will wait until its next meeting in June 2016 to confirm its output target, said Secretary General Abdalla El-Badri.
Iranian Oil Minister Bijan Namdar Zanganeh said after returning from the meeting with his OPEC counterparts: OPEC pumped 31.5 MMbopd in November, and everyone seems to do whatever he wants. I think there will be a decision about how to act on the market in the second quarter of 2016.”
Again, OPEC conference emphasized its commitment to ensuring a long-term stable and balanced oil market for both producers and consumers. Also OPEC agreed that member countries should continue to closely monitor developments in the coming months.
