opec

Reserves to rise through 2030: Ecuador state oil firm


September 6th, 2012 - 11:32 am ICT by IANS
Quito, Sep 6 (IANS/EFE) Ecuadorian state oil firm Petroamazonas expects crude reserves at its fields in the Amazon region to climb by around 7 percent through 2030 thanks to a ... Read more...

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OPEC expects increase in 2013 world crude oil demand


July 12th, 2012 - 1:22 pm ICT by IANS
Vienna, July 12 (IANS) The world crude oil demand would remain stable in 2013 and reach 89.50 million barrels per day, up by 0.9 percent from 2012, the Organization of ... Read more...

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OPEC daily basket price hits $97.34 per barrel


June 13th, 2012 - 1:04 am ICT by IANS
Vienna, June 12 (IANS/WAM) The price of 12-crude basket of the Organisation of Petroleum Exporting Countries (OPEC) Monday stood at $97.34 per barrel.Last Friday, the basket price was $95.87 per ... Read more...

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`Iran’s oil production to fall 500,000 barrels per day’


April 11th, 2012 - 2:37 pm ICT by IANS
Houston, April 11 (IANS) Iran's crude oil production is expected to fall by about 500,000 barrels per day by the end of this year due to a lack of investment ... Read more...

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Iraq nominates oil expert as OPEC chief


March 6th, 2012 - 10:39 pm ICT by IANS
Baghdad, March 6 (IANS) The Iraqi government has nominated ex-oil minister Tamer al-Ghadban for the post of the secretary general of the Organisation of Petroleum Exporting Countries (OPEC), an official ... Read more...

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BRICS steps up joint efforts to reform global governance (Lead)


March 5th, 2012 - 9:29 pm ICT by IANS
New Delhi, March 5 (IANS) With less than a month to go, India has stepped up preparations for the March 29 BRICS summit of the five emerging economies and stressed ... Read more...

Posted in Uncategorized |

Iran launches air drill


February 21st, 2012 - 12:53 am ICT by IANS
Moscow, Feb 20 (IANS/RIA Novosti) Iran Monday launched a four-day air defence drill to ensure protection of important national facilities, Iran's Fars news agency reported.The exercise in the south of ... Read more...

Posted in World |

OPEC oil price keeps fluctuating


November 8th, 2011 - 12:57 am ICT by IANS
Vienna, Nov 7 (IANS) The weekly average price of the Organisation of Petroleum Exporting Countries (OPEC) dropped slightly to $107.52 per barrel last week, the Vienna-based cartel said Monday.After continuous ... Read more...

Posted in World |

Venezuela surpasses Saudi Arabia in oil reserves


July 20th, 2011 - 12:07 pm ICT by IANS
Vienna, July 20 (IANS/EFE) Venezuela is now the country with the most proven crude oil reserves on the planet, 296.5 billion barrels, according to the Annual Statistical Bulletin of the ... Read more...

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US to fund feasibility studies in India’s energy sector


July 19th, 2011 - 2:01 pm ICT by IANS
New Delhi, July 19 (IANS) The US Trade and Development Agency (USTDA) Tuesday signed two deals worth over $1.4 million to fund feasibility studies in India's energy sector."Feasibility study is ... Read more...

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Ecuador seeks to hedge oil prices against drop


July 4th, 2011 - 11:55 am ICT by IANS
Quito, July 4 (IANS/EFE) Ecuador's government is looking at the possibility of acquiring petroleum insurance to guarantee itself a minimum price for its crude oil exports, given the danger of ... Read more...

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Venezuelans protest against US sanctions


May 26th, 2011 - 9:09 am ICT by IANS
Caracas, May 26 (IANS) Thousands of Venezuelans Wednesday gathered in oil facilities of Caracas and other cities to stage protest against the US economic sanctions against state-run oil company Petroleos ... Read more...

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Special stamp issued on OPEC’s 50th anniversary


February 14th, 2011 - 11:58 pm ICT by IANS
Abu Dhabi, Feb 14 (IANS/WAM) The Emirates Post Monday issued a special stamp commemorating the 50th anniversary of the Organisation of Petroleum Exporting Countries (OPEC).An ornamental frame containing the stamp was presented ... Read more...

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Wikileaks: Saudi oil reserves running low


February 10th, 2011 - 8:11 pm ICT by Aishwarya Bhatt
Riyadh, Feb 10 (THAINDIAN NEWS) A recent diplomatic cable released by WikiLeaks gives some shocking revelation about the state of Saudi Arabia’s oil reserve.For years many people have believed that Saudi Arabia ... Read more...

Posted in World |

High oil prices will fuel renewable energy growth: Abdullah


October 29th, 2010 - 4:51 pm ICT by IANS
New Delhi, Oct 29 (IANS) High prices of fossil fuel, especially oil and gas, have forced energy-starved nations like India to focus on production and use of renewable energy, Minister of New ... Read more...

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UAE minister to attend OPEC meeting in Vienna


October 13th, 2010 - 1:22 am ICT by IANS
Abu Dhabi, Oct 12 (IANS/WAM) UAE Energy Minister Mohammed bin Dhaen Al Hamili will lead a high-profile delegation at a meeting of the Organisation of Petroleum Exporting Countries (OPEC) in Vienna Thursday.The ... Read more...

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OPEC cartel faced with future risks in its 50th year


September 10th, 2010 - 11:32 am ICT by IANS
By Albert Otti Vienna, Sep 10 (DPA) The Organisation of the Petroleum Exporting Countries is set to mark its 50th anniversary Tuesday not with a grand ceremony, but with a simple press conference ... Read more...

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OFID pledges $500,000 to flood-hit Pakistan


August 7th, 2010 - 4:14 pm ICT by IANS
Vienna, Aug 7 (IANS/WAM) The OPEC Fund for International Development (OFID) has approved a $500,000 emergency grant to flood-hit Pakistan. The OFID grant will help people meet their emergency needs, including shelter, food ... Read more...

Posted in World |

Fire at oil well in western Iran kills 3


May 29th, 2010 - 3:11 pm ICT by BNO News
TEHRAN (BNO NEWS) -- A blaze at an Iranian oil well near the Iraqi border left at least three people dead and injured 12 others, state-run media reported on Saturday.The fire broke ... Read more...

Posted in World News |

Abu Dhabi oil company to cut oil production in July


May 28th, 2010 - 4:01 pm ICT by IANS
Abu Dhabi, May 28 (IANS/WAM) Abu Dhabi National Oil Company (ADNOC) has announced plans to cut oil production in July. The cuts from ADNOC's four major oil fields included: Murban three percent, Lower ... Read more...

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World’s oil reserves exaggerated by 33 percent: Former UK Govt. adviser


March 23rd, 2010 - 5:08 pm ICT by ANI
London, Mar 23(ANI): Britain's former Chief Scientific Adviser, David King, has said that the world's oil reserves have been exaggerated by about 33 percent.King and a research team from Oxford University said ... Read more...

Posted in World |

UAE says it is committed to OPEC output quota


March 17th, 2010 - 7:57 pm ICT by IANS
Vienna, March 17 (IANS) The United Arab Emirates (UAE) is fully committed to its Organisation of Petroleum Exporting Countries (OPEC) production quota, UAE Minister of Energy Mohammed Bin Dhaen Al Hamili has ... Read more...

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Canadian Muslim gets life term for plotting attacks on Europe


February 18th, 2010 - 10:14 am ICT by IANS
By Gurmukh Singh Toronto, Feb 18 (IANS) An Al-Qaeda-linked Canadian Muslim was Wednesday sentenced to life for plotting attacks on European targets and spreading jihadist propaganda on the internet.Said Namouh, 37, who immigrated ... Read more...

Posted in World |

OPEC oil price slides to $68.86


February 9th, 2010 - 5:07 pm ICT by IANS
Vienna, Feb 9 (DPA) The oil price of the Organisation of the Petroleum Exporting Countries (OPEC) continued falling at the start of the week, the cartel announced Tuesday. OPEC-produced oil slid to $68.86 ... Read more...

Posted in World |

OPEC oil price inches down to $70.85


December 14th, 2009 - 7:46 pm ICT by IANS
Vienna, Dec 14 (DPA) The oil price of the Organization of Petroleum Exporting Countries (OPEC) slid to $70.85 at the end of last week, the group reported Monday. The average price for OPEC-produced ... Read more...

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Comfortable with current oil prices: Nigeria


December 7th, 2009 - 3:03 pm ICT by IANS
New Delhi, Dec 7 (IANS) Nigeria is comfortable with the current prices of international crude, according to its key advisor on energy Emmanuel Egbogah. "Oil prices are good," said Egbogah on the sidelines ... Read more...

Posted in Business |

OPEC keeps oil output steady


September 10th, 2009 - 6:44 am ICT by IANS
Vienna, Sep 10 (DPA) The Organisation of the Petroleum Exporting Countries decided Wednesday to leave its current production levels unchanged, Algerian Energy and Mines Minister Chakib Khelil said after the cartel's meeting ... Read more...

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OPEC delegates to keep oil output steady


September 9th, 2009 - 10:12 pm ICT by IANS
Vienna, Sep 9 (DPA) Delegates indicated the Organization of Petroleum Exporting Countries (OPEC) would keep present output quotas and not cut production, as they prepared for a late-night meeting of their oil ... Read more...

Posted in Business |

Energy group sees rising world oil demand, production


August 12th, 2009 - 5:22 pm ICT by IANS
Paris, Aug 12 (DPA) Amid signs of a world economy now righting itself, the International Energy Agency (IEA) Wednesday raised its projections for world oil demand and output this year and in ... Read more...

Posted in Business |

OPEC oil price rises above $65


July 22nd, 2009 - 4:39 pm ICT by IANS
Vienna, July 22 (DPA) The price of oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) rose for the sixth straight day and passed the $65-mark Tuesday, the Vienna-based group ... Read more...

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OPEC members to continue oil production cut


July 19th, 2009 - 12:03 am ICT by IANS
Luanda, July 18 (Xinhua) Organisation of the Petroleum Exporting Countries chairman Botelho de Vasconcelos said here at the weekend that OPEC member countries will continue to comply with their decision on oil ... Read more...

Posted in Business |

OPEC oil price rises above $70


June 19th, 2009 - 5:10 pm ICT by IANS
Vienna, June 19 (DPA) The oil price of the Organisation of the Petroleum Exporting Countries (OPEC) rose above $70 again Thursday, the Vienna-based group said Friday. The basket price for one barrel (159 ... Read more...

Posted in Business |

OPEC oil price remains below $70


June 17th, 2009 - 4:21 pm ICT by IANS
Vienna, June 17 (DPA) The basket price of the Organisation of the Petroleum Exporting Countries (OPEC) rose slightly Tuesday but stayed below the $70 mark, the cartel announced Wednesday. One barrel (159 litres) ... Read more...

Posted in Business |

OPEC lowers demand outlook despite supply rise


May 13th, 2009 - 8:45 pm ICT by IANS
Vienna, May 13 (DPA) The Organisation of the Petroleum Exporting Countries (OPEC) Wednesday said though the global production levels of oil had increased in April, it further lowered its demand projections for ... Read more...

Posted in Business |

OPEC oil price rises above $56


May 8th, 2009 - 3:59 pm ICT by IANS
Vienna, May 8 (DPA) Optimism about the US economy has increased the price of oil produced by the Organisation of the Petroleum Exporting Countries (OPEC), pushing it up by nearly $2 to ... Read more...

Posted in Business |

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