Iran is now waiting for Russian oil companies to send their oil.

Libya. along with Nigeria and Iran. was exempted from the original agreement.

Equatorial Guinea has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC).

Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp'.s South African assets and its subsidiary in Botswana .

Ukraine saw a 32.7% decrease in gas imports in 2016 from 2015. to 11.078 bcm.

The today OPEC meeting is to focus on the extension of the November 2016 agreement on cutting oil supply.

OPEC members would decide during the meeting on May 25 to extend the 1.2 mb/d oil cut for six or nine months.

Several countries. notably Russia and Saudi Arabia. saw the Algerian proposal as a good suggestion and found it interesting.

OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018.