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Commission Welcomes Agreement to Ensure Compliance of Intergovernmental Agreements in Energy with EU Law
Negotiators of the European Parliament and the Council agreed two days ago on having Intergovernmental Agreements in the field of gas and oil assessed by the Commission before they are signed. According to the new rules, Member States will have…
OMV Group Report January – September and Q3 2016
“OMV continues to deliver on its strategic targets. We further optimized our portfolio by selling a 49% stake in Gas Connect Austria, the gas transportation business. This will bring us sales proceeds of EUR 601 mn at closing in Q4…
OPEC Secretary General visits IR Iran
OPEC Secretary General, HE Mohammad Sanusi Barkindo, met with IR Iran’s Minister of Petroleum, HE Bijan Namdar Zanganeh, during a closed-door session on November 19 in the capital city of Tehran. According to sources in the Ministry, the two oil…
OPEC’s World Oil Outlook 2016 launched at ADIPEC
The 2016 OPEC World Oil Outlook (WOO) was launched last week at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2016 in the United Arab Emirates (UAE). This year is the tenth edition of the WOO, a significant milestone…
Holding the line
The issue that currently dominates the outlook for the oil market is the outcome of OPEC’s ministerial meeting in Vienna on 30 November. It has only been two months since OPEC last met in Algiers and announced it would examine…
1st Meeting of the High-level Committee of the Algiers Accord – OPEC and Non-OPEC Oil Producing Countries
The OPEC High-level Committee, established by the Algiers Accord, met with non-OPEC oil producing countries on Saturday, 29 October, at OPEC headquarters in Vienna. It was preceded by the first High-Level Committee Meeting, held Friday, 28 October, among OPEC Member…
Oil Prices Drop as Concerns over Global Fuel Glut Re-emerge
Oil prices fell more than a percent on Wednesday as a report showing a surge in U.S. crude stocks, rising production in Nigeria and squabbling among producers about a planned output cut re-ignited concerns about a global supply glut. Brent…