Social and Events

A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand and prices in the second half of next year, Trend reports with reference to UK-based Capital Economics research and consulting company. “Indeed, after crashing in early 2020 in response to widespread …

The Arab Energy Conference, which was supposed to take place in 2022, has been postponed to 2023, Minister of Energy of Algeria, President of the OPEC conference Abdelmadjid Attar said at the 105th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) held in …

Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, Chief Executive Officer Patrick Pouyanne said in an interview with France Inter radio. Pouyanne said talks are ongoing. “We’ll see, there’s a negotiation. It could be 300, it could be …

European Union leaders are set to agree sanctions on Turkish individuals on Thursday over a energy exploration dispute with Greece and Cyprus, but will postpone any harsher steps until March, according to a new draft summit statement. Shying away from a threat made in October to consider wider economic measures, …

Oil prices are set for a volatile start to the new year, as the next OPEC+ group meeting on production policy is expected to be set for the first trading day, January 4, Argus reported on Monday, citing delegates with the OPEC+ alliance. The group managed to avoid a no-deal …

The Iraqi Oil Minister, Ihsan Abdul-Jabbar, announced on Sunday that the country will, for the first time, export three types of oil. Abdul-Jabbar said during a conference, “the price of 42 dollars per barrel was approved in the budget for next year”, noting that oil prices began to recover after …

The 12th OPEC and non-OPEC Ministerial Meeting took place this last week and concluded on Thursday with the participation of the head of the National Oil Cooperation, Mustafa Sunallah, representing Libya and its oil interests. The meeting evaluated the state of the international oil market in terms of supplies, demand …

Saudi Arabia’s Minister of Energy Prince Abdulaziz Bin Salman affirmed that there is no disagreement between oil producers, describing this disagreement as rumors. Talks were successful, Prince Abdulaziz said on the sidelines of the 12th OPEC and non-OPEC Ministerial Meeting held yesterday, adding that a monthly meeting will be held …

The Trump administration plans to add China’s top chipmaker SMIC and oil giant CNOOC to a blacklist of alleged Chinese military companies, escalating tensions with Beijing before President-elect Joe Biden takes office, according to sources familiar with the matter and a document seen by Reuters. The Department of Defense (DOD) …

Russian Deputy Prime Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman will hold informal consultations with members of the OPEC+ monitoring committee on November 28, two sources in OPEC told TASS. Those will be the last talks between members of the committee before the ministerial meeting of …