Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Again, experts are warning that Nigeria as a country is slipping away in the face of global competition among the oil-producing countries. They are of the opinion that Nigeria remains a country to watch in view of the global COVID19 Pandemic. Because she may not be able to withstand the …

Saudi Arabia and the UAE introduced the five percent Value Added Tax (VAT) in January of 2018, a first for the Persian Gulf region which had long prided itself on its tax-free, cradle-to-grave welfare system. On the same day, Saudi Arabia announced a petrol price hike of 127 percent.

Sun Xiansheng, Secretary General of the International Energy Forum (IEF), sent a letter of condolences to Iranian Minister of Petroleum Bijan Zangeneh on the death of Hossein Kazempour Ardebili.

OPEC is cautiously optimistic that the worst of the oil crisis triggered by the coronavirus pandemic is over, said the group’s top official. The outlook for the market in the second half of the year is starting to look more encouraging as the global economy recovers, said Mohammad Barkindo, secretary-general …

Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), sent an official letter of condolences to the Iranian Minister of Petroleum Bijan Zangeneh to express his sorrow for the death of Hossein Kazempour Ardebili, Iran’s OPEC governor. The following is the full text of the …

Algeria has fully adjusted its oil production under the agreements reached at the 9th and 10th OPEC and non-OPEC Ministerial Meetings, Trend reports with reference to OPEC. “Algeria has reduced its oil production in full conformity with the agreement concluded on 12 April 2020, expressing his confidence that all the …

Foreign Minister Mohammad Javad Zarif and Oil Minister Bijan Namdar Zanganeh have offered commiserations on the passing of Iran’s OPEC Governor Hossein Kazempour Ardebili. Kazempour Ardebili, 68, passed away in a Tehran hospital on Saturday two weeks after he slipped into a coma due to a brain haemorrhage. In a …

Russia and Saudi Arabia’s energy ministers agreed to stabilize the oil market.

Saudi Energy Minister His Royal Highness Prince Abdulaziz bin Salman Al-Saud and his Russian counterpart Alexander Novak reaffirmed their respective countries’ firm commitment to maintaining the stability of the global oil markets. The two ministers held a call today during which they underlined their countries’ joint consultations regarding latest developments …

Russian oil producers are confronting their greatest challenge in decades as they try to fend off a historic price slump without permanently damaging their fields. To save the market from collapse caused by the coronavirus, Moscow and its OPEC allies agreed to cut crude output deeper than ever before. Their …