Organization of the Petroleum Exporting Countries: an international organization of 11 developing countries, each one largely reliant on oil revenues as its main source of...
TEHRAN AFP — Iran's president Mahmoud Ahmadinejad said on Saturday that crude prices, hovering close to 100 dollars a barrel, are still lower than the actual value, the state news agency IRNA reported. "The pressure on the fossil energy oil market is not artificial and the price of this...
RIYADH AFP — OPEC leaders are set to make carbon capture and storage the centerpiece of their new-found green agenda by urging greater use of the emerging technique to curb carbon emissions, Algeria's energy minister said Friday. Chakib Khelil, reading from a draft declaration expected to be approved at...
RIYADH AFP — Saudi Arabia has launched a public relations offensive to improve its image at an OPECsummit here, but its efforts have been overshadowed by a court case in which a gang rape victim was sentenced to 200 lashes. The ultra-conservative kingdom has spent months organising the...
JEDDAH, Saudi Arabia, AFP ? The Gulf oil monarchies are holding a one-day summit with crude prices threatening world growth, terror stalking Saudi Arabia and violence raging in Iraq and the Gaza Strip. The annual consultative meeting, followed in December by a decision-making summit, "draws its importance from the...
A summit between the European Union and OPEC will be held in Brussels on June 9, according to an announcement by the Luxembourg EU Presidency. The meeting, which will bring together OPEC representatives, ministers from Luxembourg, the Netherlands and A summit between the European Union and...
CARACAS, Venezuela AP -- OPEC's summit last week, coupled with the U.S. decision to release oil from its reserves, appear to have helped stabilize oil prices even though the producers failed to make specific commitments to pump more crude.
According to Al-Ahram newspaper (June 2, 2004), the Egyptian Minister of Petroleum, Mr. Sameh Fahmi, is participating in OPECSummit in Beirut tomorrow. The minister stressed the importance of this summit which is being held while the international o According to Al-Ahram newspaper (June 2, 2004),...
According to Al-Ahram newspaper (June 2, 2004), the Egyptian Minister of Petroleum, Mr. Sameh Fahmi, is participating in OPECSummit in Beirut tomorrow. The minister stressed the importance of this summit which is being held while the international oil maAccording to Al-Ahram newspaper (June 2, 2004), the Egyptian Minister of...
A recent Financial Times editorial inadvertently compared May's Arab summit to the upcoming meeting of the Organization of Petroleum Exporting Countries OPEC when it said, "One of the objectives that Arab leaders periodically set for themselve A recent Financial Times editorial inadvertently compared May's Arab...
CARACAS, Venezuela AP -- The President of the Organization of Petroleum Exporting Countries said Tuesday the group could revise its current output agreement during its heads of state summit later this month if international oil prices continue to rise.
VIENNA AFP — OPEC began an emergency meeting here on Friday and was expected to cut its oil output in a controversial bid to support plunging crude prices even though recession looms for major economies. Heading into the meeting in Vienna, Kuwait's Oil Minister Mohammad al-Olaimoil told reporters...
VIENNA AFP — OPEC hardliners stepped up pressure on Thursday for a controversial oil production cut at an emergency meeting of the cartel on Friday to decide how to shore up prices while the world heads into a recession. Iran's oil minister Gholam Hossein Nozari highlighted the split...
Grim US economic data triggers fresh slide Production may be cut in attempt to stabilise price Oil slumped below $70 per barrel yesterday, hitting a 14-month low - the price has halved in the last three months - and prompting the world's oil-producing countries to call...
BRUSSELS AFP — OPEC president Chakib Khelil on Tuesday rebuffed calls from oil consuming countries to increase supply, saying the cartel had already done what it could on high prices. "OPEC has already done what OPEC can do and prices will not come down," Khelil told journalists as...
NEW YORK AFP — Oil prices edged higher Tuesday after OPEC's president rebuffed calls for the cartel to boost output and the dollar weakened on expectations the Federal Reserve will leave interest rates unchanged. New York's main oil futures contract, light sweet crude for August delivery, rose 26...
Venezuela snubbed the Jeddah summit, revealing a deepening rift within OPEC over Saudi Arabia's unilateral decision to call the meeting and increase its crude oil output. Venezuela's Energy and Petroleum Minister Rafael Ramirez on June 20 said: "We believe all issues pertaining to production must be discussed in the...OPEC [ministerial]...
With participants to include leaders and energy ministers from 35 states, CEOs of 25 leading international oil companies IOCs and head of seven multinational organisations, including the Paris-based IEA, the Jeddah summit on June 22 featured a unilateral decision by the host, Saudi Arabia, to boost crude oil production. Being...
*** Most US Lawmakers Want To See NYMEX And ICE Players Put Under Control By Regulators To End Manipulations *** Futures Markets Need To Be Better Calibrated So That The Huge Mess In The Global Economy Comes To An End *** Saudi Arabia Can Intervene Most...
JEDDAH, Saudi Arabia AFP — Saudi Arabia's King Abdullah announced Sunday that his country has increased output to 9.7 million barrels a day as he opened a summit on the soaring international price of crude. The king also said Saudi Arabia would give one billion dollars to an...
JEDDAH, Saudi Arabia AFP — Saudi Arabia's increased oil production to counter the fears of inflation-hit consumers opened divisions within OPEC at an international summit on Sunday as the cartel battles pressure to find more crude. The discord hides even wider international divisions over the cause of the...
Articles 2008-06-21
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