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Iran’s President Hassan Rouhani sent a message to the United States saying that it “did not successfully pass the test” regarding last year’s nuclear agreement and did “not precisely respected its commitments” under the deal because international financial restrictions against Read more
“The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market” Iranian oil minister Bijan Namdar Zanganeh told state TV amid reports of OPEC members increasing their total output Read more
Following the failure to attract enough foreign investors to venture into its oil fields, Algerian Energy minister Nouredine Bouterfa said the country maintains its “top goal” of increasing the current production output of 1.2million barrels per day by 30% by Read more
Collapse of oil revenues and sharp increase in importations have caused a huge dent in Algeria’s foreign reserves with figures pointing at $58 billion loss since 2014; year of exceptional growth, country’s Prime Minister said on Sunday. Prime Minister Abdelmalek Read more
The rival National Oil Corporation created by the House of Representatives (HoR) in Tobruk has decided to merge with the country’s long time National Oil Corporation (NOC) based in Tripoli. Chairman Mustafa Sanalla of the NOC said the agreement “will Read more
Saudi Arabia’s Energy Minister Khalid Al-Falih stated that the Kingdom exercises responsible oil policies as he acknowledged that “despite the surplus in global oil production and lower prices, the focus of attention remains on countries such as Saudi Arabia which, Read more
Ayatollah Ali Khamenei, Iran’s supreme leader, said that Iran will not violate the JCPOA, but if the opposite side violates it Iran will burn it. Khamenei’s statements come as US presidential candidates are currently threatening to tear up the Joint Read more
Saudi Energy Minister Khalid al-Falih said Riyadh will not be increasing its oil output because “there is no reason to expect that Saudi Arabia is going to go on a flooding campaign” as he reassured that “we will be very Read more
A meeting between Russian Foreign Minister Sergei Lavorv and the President of the Gulf Cooperation Council (GCC) Adel Al-Jubeir, Saudi Arabia’s foreign affairs minister, focused on various topical regional issues, mainly in the Middle East and North Africa, and discussed Read more
Iranian deputy petroleum minister Amir Hossein Zamani-Nia said on Sunday the output of the country will increase by 200,000 barrels within the next months. His comments to reporters on the last day of the International oil, gas, refinery and petrochemical Read more