OPEC CAN CUT
REUTERS wrote, Iran is optimistic OPEC can reach a deal on limiting oil supplies and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry's official website SHANA.
"The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the production of each country was presented today and carefully studied," Zanganeh was quoted as saying on Saturday after meeting Bouterfa in Tehran.
Bouterfa said Algeria's proposals called for 1.1 million barrels per day (bpd) in cuts by OPEC members and decreases totaling 600,000 bpd by non-members, SHANA reported.
"If OPEC members ... agree, oil prices will reach $50 to $55 next year and $60 by the end of the year," Bouterfa was quoted as saying.
The Organization of the Petroleum Exporting Countries is moving closer toward finalizing its first deal to limit oil output since 2008 but Iran has been a stumbling block because it wants exemptions as it tries to regain oil market share following the easing of Western sanctions in January.
"We are to present our views about this proposal at the ... Nov. 30 OPEC meeting," Zanganeh said. "The general trend and public statements suggest that OPEC can reach a viable agreement for its production and market management."
"If we can agree, and I am optimistic, (oil) prices will increase and this is also what the world economy demands."
|November, 14, 12:25:00|
|November, 14, 12:15:00|
|November, 14, 12:10:00|
|November, 14, 12:05:00|
|November, 14, 12:00:00|
|November, 14, 11:55:00|
WNN - The search for solutions to climate change must include discussion of nuclear power, Scott Foster, director of the Sustainable Energy Division of UNECE, told
WNN - in 2017 the average total generating cost - which includes capital, fuel and operating costs - for nuclear energy was USD33.50 per megawatt-hour (MWh).
LUKOIL - For the first nine months of 2018 LUKOIL Group's average hydrocarbon production excluding West Qurna-2 project was 2,301 thousand boe per day, which is 3.7% higher year-on-year.
GE - Baker Hughes, a GE company and General Electric Company Announce a Series of Long-Term Agreements to Maximize Value for Both BHGE and GE