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Tag Archives: curde production

Iran to clients: Buy our oil and get joint ventures too

SEOUL – Iran has unveiled details for long-awaited foreign cooperation contracts which it hopes will attract oil buyers and investors to modernize its aging infrastructure, including offers to take part in joint ventures to extract its huge reserves. The United Nations endorsed a deal in July to end years of economic sanctions on the Islamic republic over its nuclear program, ...

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Iran says an OPEC emergency meeting may stop oil price slide – Shana

DUBAI – Iran’s Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be “effective” in stabilizing the oil price, Iran’s oil ministry news agency Shana reported. Algeria said earlier this month that the Organization of Petroleum Exporting Countries could hold an emergency meeting to discuss the drop in oil prices but other OPEC delegates said ...

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OPEC sees more balanced oil market in 2016

LONDON – The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday. In its monthly report, the Organization of the Petroleum Exporting Countries said it expected world oil demand to increase by 1.34 ...

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Tight oil is here to stay, Conoco CEO tells OPEC

VIENNA – The U.S. tight-oil boom is here to stay despite low crude prices as technological breakthroughs will allow steep reductions in costs, the head of U.S. firm ConocoPhillips told a seminar organized by oil-producing group OPEC. “Innovations have already led to a U.S. energy renaissance. Tight-oil reservoirs can remain viable today, breakeven costs are already down by 15 to ...

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Oil extends losses ahead of OPEC meeting

LONDON – Crude oil prices fell more than $1 on Thursday as investors prepared for a widely expected decision by OPEC members to maintain current production levels, despite worries over a global supply glut. The Organization of the Petroleum Exporting Countries is expected on Friday to keep a group output target of 30 million barrels per day (bpd), ignoring calls ...

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OPEC set to hold line on output, setting aside Iran dilemma

VIENNA – OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year’s shock market therapy has revived demand and knocked back growing competition. With oil prices having stabilised at around $65 a barrel, some $20 above their January lows, there’s little appetite within the Organization of the Petroleum Exporting Countries to modify production ...

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Iran deputy oil min says OPEC unlikely to cut output

KUALA LUMPUR – The Organization of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday. Asked if OPEC would cut output at the upcoming June 5 meeting, Iran’s Deputy Oil Minister Rokneddin Javadi told Reuters: “I don’t think so.” Iran, along with Venezuela, has ...

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