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News // Middle East and OPEC

Venezuela president about Russia and «new mechanism» for higher oil prices

The price of crude has recovered in the last days but the recent period of low oil prices has been deeply hurtful for producers like Venezuela who are heavily dependent on crude exports.

12 October 2016 , 14:26Neftegaz.RU7430

Putin: Russia will join Opec efforts to stem decline in crude oil price

Vladimir Putin said at the World Energy Congress in Istanbul that Russia will join the deal to cut global crude output.

11 October 2016 , 10:11Neftegaz.RU6780

Russia takes a swipe at OPEC freeze deal by maintaining price forecast at $40

Russia, whose economic future is said to revolve around crude prices at the $40 level, is maintaining its outlook that this price level will be the average in the next three years – despite oil climbing to near $50 in the wake of this week's Organization of the Petroleum Exporting Countries' deal to cut production.

04 October 2016 , 15:04Neftegaz.RU7390

Parliament supports plan for revival of Iran's share in oil market

The MP Amir Khojaste says the Parliament supports the plan for revival of Iran's share in the oil market.

04 October 2016 , 13:00Neftegaz.RU6720

Iran And Saudis: No freeze deal in Algeria, here's hoping for better luck in Vienna

Less than 24 hours before the freeze talks in Algeria get underway, Saudi Arabia and Iran have quashed any hopes for a deal to be made.

29 September 2016 , 12:00Neftegaz.RU6800

Russia: Oil production freeze not essential

It's not essential to use artificial action on the energy market to correct the imbalance between supply and demand, Russia's energy minister said from Algeria.

27 September 2016 , 17:00Daniel J. GraeberNeftegaz.Ru7240

Iran to attend key oil meeting in Algeria

Attending the 15th Ministerial Meeting of the International Energy Forum (IEF), Iranian oil minister will deliver a speech in the first session of the Forum.

26 September 2016 , 15:36Neftegaz.RU6620

OPEC Secretary General: Fair price necessary for oil market stabilization

If the oil price is fair for both supply and demand side, a stable oil market can be formed, Secretary General Mohammed Sanusi Barkindo said.

26 September 2016 , 13:00Neftegaz.RU7840

President Rouhani in Venezuela: Iran supports oil market stabilization

President Hassan Rouhani says Tehran supports any move for stabilization of the market and improvement of oil prices based on justice, fairness and observation of fair quota for the producing countries.

19 September 2016 , 13:00Neftegaz.RU9050

OPEC revises Russian oil output estimate higher

With oil production on pace to increase through the year, economists at OPEC said Russia's economy is already on a clear road to modest recovery.

13 September 2016 , 12:23Daniel J. GraeberNeftegaz.RU6450

Saudi and Algerian oil ministers to meet OPEC chief in Paris

The energy ministers of Saudi Arabia and Algeria will meet with OPEC’s top official as major oil producers continue to lay the ground for a potential deal to bolster crude prices in Algiers later this month.

09 September 2016 , 14:18Brian WilsonNeftegaz.RU6180

Iranian Minister of Petroleum: Iran supports any decision by oil producers to stabilize market

Iranian Minister of Petroleum Bijan Zangeneh said Iran would support any decision by crude oil producers that would bring stability back to the oil market.

07 September 2016 , 10:00Neftegaz.RU5340

Historic Saudi-Russian Oil Pact has «No Chance» of coming to anything, say critics

Like so much of the talk leading up to the OPEC freeze meeting later this month, news of Saudi Arabia and Russia agreeing to act together to stabilize oil looks good on paper – but critics dismiss it as just yet more lip service.

06 September 2016 , 16:20Ship&BunkerNeftegaz.RU7630

Seyed Mohsen Ghamsari: Based on demand, Iran ready to boost oil output to 4 mln bpd

Iran is ready to raise its oil production to 4 million barrels per day (bpd) in the next 2 to 3 months depending on market demand, said the director for international affairs at NIOC.

06 September 2016 , 14:15Neftegaz.RU8490

Saudi wants a freeze and prices north of $60, say OPEC/Industry sources

While skepticism has greeted Saudi Arabia's suggestion it will be more agreeable in the upcoming OPEC´s freeze talks, new rumours that it will support an output cap in order to maximize the profitability of its state-owned Aramco IPO are gaining traction.

02 September 2016 , 16:10Ship & BunkerNeftegaz.RU11000

Iran to put first IPC on tender by mid October 2016

The first tender for Iran’s new oil and gas contract model, known as IPC, will be held by the mid October, said Ali Kardor, the managing director of National Iranian Oil Company (NIOC).

31 August 2016 , 12:15Neftegaz.RU6470

Iran needs $100 bln for upstream oil, gas projects by 2021

Upstream oil and gas sectors require $100 billion of investment to meet the objectives of the country’s Sixth National Development Plan (2016-2021), said Abdolmohammad Delparish, the deputy managing director of NIOC for corporate planning.

29 August 2016 , 16:00Mahnaz AbdiNeftegaz.RU6270

OPEC´s new Secretary General receives Ambassador of the Russian Federation

OPEC Secretary General Mohammad Sanusi Barkindo received the Russian Federation’s Permanent Representative to International Organizations, Vladimir Voronkov.

29 August 2016 , 10:37Neftegaz.RU6610

OPEC’s former Head said «conditions are set» for oil freeze

Chakib Khelil told the agency that «conditions are set for an agreement», referring to OPEC’s desire to solidify an output-freeze in the wake of the oil glut.

18 August 2016 , 16:20Neftegaz.RU6430

Malaysia's Daya awarded contract by Schlumberger for services in Saudi Arabia

Daya Materials has announced that its subsidiary has been awarded a 3-year contract by Schlumberger for services in Saudi Arabia.

15 August 2016 , 16:40Neftegaz.RU5930

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