Category:Oil

The Church of England has voted in favour of withdrawing investment from companies that aren’t doing enough to tackle climate change. The General Synod, the decision-making body for the Church, said it broadly...

The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited...

OPEC Secretary General, HE Mohammad Sanusi Barkindo, two days ago delivered a keynote address at the International Petroleum (IP) Week conference in London.  The session was moderated by Manus Cranny, Markets Editor/Anchor,...

Paris hosted recently  a joint meeting of two Working Committees (the Modern Technologies and Prospective Oil and Gas Industry Projects Working Committee and the Information and Communications Working Committee) of the International...

In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in...

The output cuts announced by OPEC and eleven non-OPEC producers have entered their probation period and it is far too soon to see what level of compliance has been achieved. The coming...

The OPEC Monthly Oil Market Report covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed...

Demand for oil and gas will continue to grow for the next few decades and any fall in capital investment for the industry will cause "spikes" in prices and affect the global...

OPEC Secretary General, HE Mohammad Sanusi Barkindo, has been named ‘Man of the Year’ for 2016 by The Daily, the leading African online newspaper. The Daily explained: “This year,” the letter announcing the...

Shell has signed an agreement with Vitol Africa B.V. to sell its 20% shareholding in Vivo Energy for US$250 million. Completion of this transaction is expected during the first half of 2017,...

OPEC Secretary General, HE Mohammad Sanusi Barkindo, has congratulated former OPEC Secretary General, HE Abdalla Salem El-Badri, on recently been honoured at the Platts Global Energy Awards in the ‘Lifetime Achievement’ category. The...

Obama uses law that allows presidents to block sale of new offshore drilling and mining rights and makes it difficult for their successors to reverse decision. Barack Obama has permanently banned new oil...

The Organization of the Petroleum Exporting Countries (OPEC) Secretary General, HE Mohammad Sanusi Barkindo, and an accompanying delegation, took part in a series of activities at the Columbia University’s Center on Global...

Following the ‘Vienna Agreement’ decided upon at the 171st Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) on 30th November, 2016, Ministers from OPEC met with a...

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...

“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...