News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
4 hrs ago | Reuters
Nigeria's Senate launched an investigation on Wednesday into a letter written by the central bank which said that the state-oil firm NNPC failed to pay $50 billion of revenue from oil sales into government accounts.
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11 hrs ago | Emirates News Agency
WAM VIENNA, 11th December, 2013 -- The price of OPEC's basket of twelve crudes stood at US$106.83 dollars a barrel on Tuesday, compared with $107.72 the previous day, according to OPEC Secretariat calculations.
China's implied oil demand rose 1.5 percent in November from the preceding month to a five-month high, as two major refineries restarted after an overhaul, but full-year growth is heading for the weakest rise in at least five years.
European Union finance ministers are likely to take a political step towards creating a banking union with powers to close down failing banks, but leave nagging legal details to another time, perhaps next week.
Leaders of a movement seeking autonomy for Libya's eastern Cyrenaica region said on Tuesday they could allow oil exports to resume on Sunday from several ports, if Tripoli meets their demands and allows the region to take its share of crude.
This is the scientific paper that should stop all Arctic drilling now. It should also stop the controversial Keystone XL pipeline.
The price of oil jumped above $98 a barrel Tuesday amid expectations that crude stockpiles fell for the second week in a row and optimism over economic data from the U.S. and China.
The just published WORLD ENERGY OUTLOOK 2013 by the Paris based International Energy Agency provides us with an authoritative assessment of trends and systemically significant developments in global energy.1 They serve as the basis for projections of where we will be in 2035 that are presented in three scenarios.
DUBAI: Iran has begun meeting international oil company heads and plans to speak with more as soon as March to seek investment in its energy industry once world powers lift sanctions, the state's oil minister said.
The cartel met last week in Vienna and agreed to keep production unchanged at 30 million barrels of crude per day .
Gheit says 20-30% of the current oil price reflects a "supply risk premium" that will disappear when Iran's nuclear issue is finally resolved.
A Kuwaiti court on Monday acquitted 70 members of the country's opposition, including several former lawmakers, of charges related to the 2011 storming of the parliament in the oil-rich nation.
WAM VIENNA, 9th December, 2013 -- The price of OPEC basket of twelve crudes stood at 108.00 dollars a barrel on Friday, compared with $108.22 the previous day, according to OPEC Secretariat calculations.
Recognition came the way of Nigeria's Minister of Petroleum, Mrs. Diezani-Alison-Madueke as she was appointed late last week at the 164th meeting of the Conference of the Organization of the Petroleum Exporting Countries as alternate president of the group.
Venezuelans vote in municipal elections on Sunday that are the biggest political test yet for President Nicolas Maduro as he tries to halt an economic slide and preserve the radical socialist legacy of his late mentor Hugo Chavez.