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Libya’s National Oil Corporation (NOC) has warned to take action against attempts by parallel authorities to sell the country’s oil after eastern army commander Khalifa Haftar Monday handed oil ports to NOC’s rival in Benghazi. “Exports by parallel institutions are Read more
Bahraini State authorities announced Sunday the discovery of the country’s so far largest oil and gas field whose production could exceed current oil and gas yield. The tiny Gulf oil producer and non-OPEC member currently explores two oil fields, namely Read more
Iraq is reportedly ramping up efforts to expand its capacity to pump and export oil through building a processing facility that will double output at the Majnoon field to 450,000 bpd. Ihsan Abdul Jabbar, the director-general of state-run Basra Oil Read more
As oil prices rise to hit a four-year high of $70 a barrel, the UAE’s Energy minister Suhail al-Mazrouei expects the markets to stabilize after a dip that lasted since the end of the expensive oil era in 2014. He Read more
Analysts expect oil prices to come down by year-end despite the political tension inside Saudi Arabia, OPEC’s main producers, and the turmoil plaguing several other oil producing countries. Ahead of next week’s OPEC meeting in Vienna, crude oil prices are Read more
The National Oil Company will reduce its production share by 139, 000 barrel per day from November to meet agreement with Organization of the Petroleum Exporting Countries (OPEC). The Country’s energy minister, Suhail Al Mazrouei said Abu Dhabi National Oil Read more
Reports are emerging that consultations between members of the Organization of Petroleum Exporting Countries (OPEC) and 11 non-members of the organization are likely to reach a deal that would extend the freeze on their output to next year. The current Read more
Algerian government on Sunday said the country recorded slower third-quarter growth despite a significantly better performance from the energy sector. The data released by the statistics office show overall GDP growth was 3 percent in the third quarter, down from Read more
The target of the Organization of Petroleum Exporting Countries (OPEC) to reduce the total output by 1.2 million barrels per day is expected to be missed as a source within the oil cartel revealed that “compliance (regarding the agreement to Read more
The failure by OPEC members to reach a production freeze deal amid disagreements over sharing output cuts risks further drop in oil prices, several analysts warned. As the de facto Saudi-led cartel prepares to meet on Wednesday in Virginia, a Read more