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Chairman Mustafa Sanalla of the National Oil Corporation( NOC) has stated that Libya will not cut its increasing output production to help boost oil and gas prices because the country is “in such a dangerous economic” situation that does encourage Read more
After the High Level Committee of experts of the Organization of Petroleum Exporting Countries (OPEC) failed to reach an agreement on outlining the implementation of cutting the production output in Vienna last month, there were concerns that the Algiers agreement Read more
The UK, US and the EU in addition to Saudi Arabia, the United Arab Emirates and Qatar Monday discussed in London plans to support the Libyan economy and prevent the North African oil-rich country from sliding deeper in economic turmoil. Read more
The agreement between members of the Oil Petroleum Exporting Countries (OPEC) and non-OPEC members that was reached in Algiers last month is slowly nearing a deadlock after Iraq became one of the latest countries demanding to be exempted from it. Read more
A day after the Organization of Petroleum Exporting Countries (OPEC) reached a deal Wednesday to reduce output by almost 700,000bpd collectively, Libya has stated that it will be an exception to the deal that could be finalized in November during Read more
In a bid to address the global glut of oil supply, members of OPEC reached a landmark agreement, at a meeting in Algiers, to cut their collective oil output sending oil prices soaring by 5%. The member states of the Read more
Secretary General of the Oil Producing Exporting Countries (OPEC) Mohammed Barkindo has hinted that the organization could hold an extraordinary meeting as early as November if OPEC and non-OPEC producers meeting on the sidelines of the International Energy Forum reach Read more
The newly appointed Secretary General of the Oil Producing and Exporting Countries, Mohammad Sanusi Barkindo, will be visiting Oman and Iran before the International Energy Forum (IEF) scheduled to take place in Algeria from September 26 to 28. A source Read more
As speculations increase that oil producers could reach an agreement on freezing their output levels at next month’s International Economic Forum (IEF) in Algiers, former OPEC chief and Algerian energy minister Chakib Khelil said “all the conditions are set for Read more
Major oil producers could be on the verge of reaching an agreement to stabilize the oil market and boost prices. Russian energy minister Alexander Novak said there are consultations between Riyadh and Moscow and they are “ready to achieve the Read more