Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2018-01-22 08:40:00

OPEC'S CONSTRUCTIVE ROLE

OPEC'S CONSTRUCTIVE ROLE

OPEC - His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Emir of the State of Kuwait, yesterday received His Excellency Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), for a meeting in Bayan Palace, Kuwait City. The Secretary General also met with the Deputy Prime Minister and Minister of State for Cabinet Affairs, His Excellency, Anas Khalid Al-Saleh. The meeting with the Emir was also attended by His Excellency Bakheet S. Al-Rashidi, Kuwait's Minister of Oil and Minister of Electricity and Water and Kuwait's Governor to OPEC Mr. Haitham Al-Ghais.

At the meeting, last year's implementation of the 'Declaration of Cooperation' by all participating countries was reviewed, as well as the role of Kuwait as Chair of the Joint Ministerial Monitoring Committee (JMMC) in 2017.

His Highness Sheikh Sabah pledged the continuous support of Kuwait for OPEC and the 'Declaration of Cooperation', as well as the institutionalization of OPEC and non-OPEC cooperation.

HH the Emir acknowledged the positive response of the oil market to the implementation of the 'Declaration of Cooperation' in 2017, including the unprecedented high levels of conformity with the voluntary production adjustments, with participating countries seeing average monthly conformity levels of more than 100% throughout the whole year.

HH Sheikh Sabah praised all 24 participating countries, both OPEC and non-OPEC, for their joint efforts towards restoring much needed oil market stability, as well as keeping faith in the collaborative approach which is at the heart of the 'Declaration of Cooperation'.

His Highness added that all participating countries and the global industry have benefited from the positive outcome and response of the oil market to the 'Declaration of Cooperation'. His Highness urged participating countries to continue to show faith in implementing the voluntary production adjustments in 2018, until the common objective of returning OECD inventories to the five-year average is achieved and the supply-demand balance is restored, both of which are essential in order to stimulate the return of further investment in the industry.

Additionally, His Highness commended OPEC and its Secretary General for successfully steering the affairs of the Organization during a turbulent period.

The meeting with HH Sheikh Sabah, was followed by discussions with the Deputy Prime Minister and Minister of State for Cabinet Affairs, His Excellency, Anas Khalid Al-Saleh. They discussed the current market situation and the implementation of the 'Declaration of Cooperation.'

Earlier in the day, the Secretary General met bilaterally with Kuwait's newly appointed Minister of Oil and Minister of Electricity and Water, to discuss preparations for the next JMMC meeting to be held in Muscat, the Sultanate of Oman, on 21 January 2018. They also discussed the implementation of the voluntary production adjustments in 2017, as well as the role of the JMMC in overseeing conformity levels. Kuwait will continue to serve as a member of the JMMC in 2018. The meeting was also attended by Kuwait's Governor to OPEC Mr. Haitham Al-Ghais.

Both the Minister and the Secretary General also reviewed the ongoing response of the market to the implementation of the 'Declaration of Cooperation' in 2017 and the prospects for 2018.

The Minister pledged to continue the tradition of Kuwait playing a constructive role as a consensus builder within OPEC, reflecting not only its status as a Founding Member of the Organization, but also its commitment to OPEC's cohesion as a group, and the Minister's determination to follow in the footsteps of his esteemed predecessor in playing an active role going forward.

The day concluded with OPEC officials presenting on the implementation of the 'Declaration of Cooperation' and the market situation to the Minister and other senior officials from the Ministry of Oil.

Today, the Secretary General and the accompanying delegation met with the management of Kuwait's national oil company, the Kuwait Petroleum Corporation. They listened to presentations on the current market situation and the impact of the Declaration of Cooperation on the oil market delivered by the OPEC Secretariat.

Later in the day, HE Mohammad Barkindo held a joint press conference with Minister Al-Rashidi and gave press interviews to a number of local media outlets.

-----

Earlier:

 OPEC'S TRIUMPH
2017, December, 29, 11:35:00

OPEC'S TRIUMPH

PLATTS - The issuance of a combined 2.8 million b/d cap on formerly exempt members Libya and Nigeria at the organization's November 30 meeting means that OPEC as a whole now has a notional collective ceiling of 32.74 million b/d, when all the members' quotas are added up. From January-November, compliance was 108% according to S&P Global Platts, one of the six secondary sources used by the organization to monitor output.

 

 OPTIMISTIC OIL PRICES
2017, December, 18, 12:40:00

OPTIMISTIC OIL PRICES

BLOOMBERG - OPEC’s Secretary General Mohammad Barkindo said the producer group is close to its goal of rebalancing markets and the International Energy Agency said oil inventories in developed nations have slid to the lowest since July 2015. OPEC upped the implementation of promised cuts in November to 115 percent, the highest rate since the agreement began, according to the IEA.

 

 OPEC WILL BACK BY 2040
2017, December, 11, 09:40:00

OPEC WILL BACK BY 2040

“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”

 

 SAUDI ARABIA - RUSSIA COMPROMISE
2017, December, 4, 23:10:00

SAUDI ARABIA - RUSSIA COMPROMISE

REUTERS - The outcome represents a successful compromise between de facto OPEC leader Saudi Arabia (which wanted to announce an extension throughout 2018) and non-OPEC heavyweight Russia (which wanted to avoid giving such a long commitment).

 

 OPEC CONFIRMED
2017, December, 2, 18:54:00

OPEC CONFIRMED

OPEC - In agreeing to this decision, Member Countries confirmed their continued focus on a stable and balanced oil market, in the interests of both producers and consumers. Member Countries remain committed to being dependable and reliable suppliers of crude and products to global markets.

 

 SAUDIS & RUSSIA LEADERSHIP
2017, December, 1, 12:55:00

SAUDIS & RUSSIA LEADERSHIP

PLATTS - Saudi Arabia reasserted its leadership of the oil market Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC partners through to the end of 2018. The deal -- agreed after nearly nine hours of negotiations in Vienna -- kept its new ally Russia onside and prevented a sell-off that many analysts had feared.

 

 OPEC WILL REDUCE
2017, November, 24, 09:20:00

OPEC WILL REDUCE

REUTERS - The Organization of the Petroleum Exporting Countries, non-member Russia and nine other producers agreed to curb oil output by about 1.8 million barrels per day until March 2018. They are expected to extend the deal at a Nov. 30 meeting in Vienna.

Tags: OPEC, OIL, PRICE

Chronicle:

OPEC'S CONSTRUCTIVE ROLE
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

OPEC'S CONSTRUCTIVE ROLE
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

OPEC'S CONSTRUCTIVE ROLE
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

OPEC'S CONSTRUCTIVE ROLE
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

All Publications »