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2015-04-14 20:10:00

OPEC ISN’T WORKING

OPEC  ISN’T  WORKING

OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister said, a sign of the pain lower prices are causing OPEC's less wealthy producers.

However, Bijan Zanganeh also told Reuters it was up to other members of the Organization of Petroleum Exporting Countries (OPEC) to make way for any extra Iranian crude that reaches world markets if Western sanctions on Tehran are lifted.

Oil prices have halved from $115 a barrel in June last year, in a drop that deepened after OPEC refused to cut output and defend…

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Tags: OPEC, OIL, PRICES
Chronicle:
OPEC  ISN’T  WORKING
2019, May, 23, 11:55:00
NORWAY'S PRODUCTION 1.7 MBD ANEW
NPD - Preliminary production figures for April 2019 show an average daily production of 1 729 000 barrels of oil, NGL and condensate, which is a decrease of 24 000 barrels per day compared to March.
OPEC  ISN’T  WORKING
2019, May, 22, 11:00:00
OIL PRICE: NEAR $72 AGAIN
Brent crude futures were down 39 cents, or 0.5 percent, at $71.79 at barrel. WTI crude futures for July delivery were down 59 cents, or 0.9 percent, at $62.54.
OPEC  ISN’T  WORKING
2019, May, 22, 10:55:00
ENERGY FOR PEOPLE
Despite significant progress in recent years, the world is falling short of meeting the global energy targets set in the United Nations Sustainable Development Goals (SDG) for 2030.
OPEC  ISN’T  WORKING
2019, May, 22, 10:50:00
SOME PROBLEMS OF WORLD ENERGY. PART TWO.
Today the world production of heat, mechanical and electrical energy exceeds 50 trillion. kW / h per year or 5.7 billion kWh per hour. At the same time, more than 80% of the production of all types of energy comes from the burning of fossil fuels - hydrocarbon energy.
OPEC  ISN’T  WORKING
2019, May, 22, 10:45:00
SEMPRA ENERGY, SAUDI ARAMCO LNG
Sempra Energy (NYSE:SRE) and Saudi Aramco announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for 5 million tonnes per annum (Mtpa) of LNG offtake from Phase 1 of the Port Arthur LNG export project under development.
OPEC  ISN’T  WORKING
2019, May, 22, 10:40:00
NOVATEK, TechnipFMC "ARCTIC LNG 2"
NOVATEK announced that its joint venture Arctic LNG 2 and TechnipFMC signed a contract on engineering, procurement, supply, construction and commissioning of an integrated liquefied natural gas facility with annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project. The contract terms provide for the launch of the first train of the project in 2023.
OPEC  ISN’T  WORKING
2019, May, 22, 10:37:00
GREEN ENERGY CONGRESS JUNE 2019
GREENENERGY - We take an immense pleasure to extend our warm welcome to invite all the participants from all over the world to attend 7th World Congress and Expo on Green Energy during June 24-25, 2019 Barcelona, Spain
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