petroleum exporting countries

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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OPEC oil prices continue to rise


March 13th, 2012 - 5:27 am ICT by IANS
Vienna, March 13 (IANS) Weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) rose to $122.87 per barrel last week, the Vienna-based cartel said Monday.Prices last week ... 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...

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BRICS can transform global governance: India


March 5th, 2012 - 5:47 pm ICT by IANS
New Delhi, March 5 (IANS) Ahead of the BRICS summit here, India Monday said the grouping of five major emerging economies was not ranged against anyone but is "a responsible ... Read more...

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Ecuador signs deals to boost oil output


February 2nd, 2012 - 11:29 am ICT by IANS
Quito, Feb 2 (IANS/EFE) Ecuador has signed contracts for $1.7 billion in investment - the biggest to date in the country's oil sector - to boost output at a pair ... Read more...

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Venezuela aims to boost oil output


December 21st, 2011 - 11:16 am ICT by IANS
Caracas, Dec 21 (IANS/EFE) Oil-rich Venezuela will boost its production of crude to 3.5 million barrels per day in 2012, President Hugo Chavez said."We are at 3 million, fluctuating there ... Read more...

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US stocks stay low for straight day


December 15th, 2011 - 9:02 am ICT by IANS
New York, Dec 15 (IANS) US stocks ended lower for the third straight day Wednesday amid euro zone concerns and data, Xinhua reported.On economic front, the US labor department said ... Read more...

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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...

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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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Trump drops ‘F-word’ fusillade, calls politicians ‘blood suckers’


April 30th, 2011 - 4:22 pm ICT by ANI
Washington, Apr 30 (ANI): Potential Republican candidate Donald Trump has dropped a barrage of 'F-bombs' at a massive Las Vegas rally where he attacked US President Barack Obama and slammed other ... Read more...

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Oil plummets on US negative credit outlook


April 19th, 2011 - 3:31 am ICT by IANS
New York, April 19 (IANS) US crude oil price dropped sharply Monday after Saudi Arabia reported a drop in its oil output in March and Standard & Poor's (S&P;) cut ... Read more...

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Sensex up 217 points on positive political cues, moderating oil price (Roundup)


March 8th, 2011 - 6:45 pm ICT by IANS
Mumbai, March 8 (IANS) A benchmark index for Indian equities markets rebounded 217 points Tuesday after signs of a rapprochement in sight between the DMK, a key ally of ... Read more...

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‘Carlos the Jackal’ set for trial for role in terrorist attacks in France


February 18th, 2011 - 5:51 pm ICT by ANI
Paris, Feb 18(ANI): French prosecutors have said that 'Carlos the Jackal', whose real name is Ilich Ramirez Sanchez, is set to face trial in Paris for his alleged role in four deadly ... Read more...

Posted in World |

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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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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Arab petroleum bank posts $47 mn profit


August 8th, 2010 - 10:39 pm ICT by IANS
Abu Dhabi, Aug 8 (IANS/WAM) The Arab Petroleum Investments Corporation (Apicorp), a multilateral bank owned by the 10-member states of the Organisation of Arab Petroleum Exporting Countries (Oapec), Sunday announced a net ... Read more...

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World oil demand to grow by 1 mb/d: OPEC


July 16th, 2010 - 12:33 am ICT by IANS
Vienna, July 15 (IANS/WAM) Driven by the global economic recovery, the world oil demand is projected to grow by 1 million barrels (mb/d) per day to 86.4 mb/d in 2011, the Organisation ... Read more...

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Age of oil and gas is not dead yet, says UAE minister


June 2nd, 2010 - 2:25 pm ICT by IANS
Dubai, June 2 (IANS/WAM) "The age of oil and gas is not dead", says an United Arab Emirates (UAE) cabinet minister, citing the Oil and Petroleum Exporting Countries (OPEC) prediction for growing ... Read more...

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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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Global oil demand to increase by five million bpd: Kuwait


April 26th, 2010 - 6:58 pm ICT by IANS
Kuwait City, April 26 (IANS) Global oil demand will increase by five million barrels per day in the next five years, and China and India will lead the growth in emerging markets, ... Read more...

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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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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...

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Saudis deny secret meetings to end dollar as oil currency


October 6th, 2009 - 9:36 pm ICT by IANS
London/Dubai, Oct 6 (DPA) The director of Saudi Arabia's central bank Tuesday denied press reports suggesting that Gulf states had held secret talks to replace the dollar as the prime currency on ... Read more...

Posted in World |

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 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...

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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...

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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...

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