Tag Archives: Minister

Under a deal agreed last year. oil exporters committed to cut production in an effort to reduce global stockpiles that have depressed prices for more than two years.

Novak said Monday he is meeting with his Kuwaiti counterpart to discuss LNG exports.

Kingdom to limit crude oil exports at 6.6 million barrels per day in August. almost 1 million bpd below levels a year ago.

Construction of two new power stations on the peninsula. which Russia annexed from Ukraine in 2014. is already underway.

More than 10% of electricity go to waste in the national grid because of dilapidated equipment.

Compliance with production cuts by members of the Organization of Petroleum Exporting Countries is excellent.

Crimea is subject to EU sanctions on energy equipment after Russia annexed the Black Sea peninsula in 2014.

Nigeria and Libya have been exempt from quotas under the Vienna deal between OPEC and 10 other major oil producers on limiting oil production agreed in November 2016.

Ecuador is doing what other members wish to—ditching a supply deal that has become more painful than gainful.

The seventh session of the JCPOA joint commission was held in Vienna in late April.