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He is seeking to unseat Chavez in an Oct. 7 election that is shaping into the biggest challenge to the socialist leader's 13-year rule of the South American OPEC member. Opposition sympathizers are fuming at the vitriol aimed at Capriles, and two...
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"We heard it will become available in April. We are just waiting for the loading programme," one trader said. The operator of the field is French major Total. The company was not immediately available to comment. The quality of Usan crude is expected to...
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"It's possible to reduce Iranian oil revenue without reducing Iranian oil supply," they wrote. The report presented detailed estimates of discounts for Iranian crude and the impact on government revenues depending on how many countries join the...
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This happens on both sides Jay. But I rarely see you pointing out when it happens on your side. Thanks jay, this gas thing is so frustrating. the prices started climbing because of “Libya” and they haven’t come back down since. OPEC knows all too well...
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What were white supremacists doing at last week's high-profile GOP conference in Washington, D.C.? Mingling with Republican leaders and sharing the word – the racist word, that is. It's unconscionable that the frontrunners for the Republican...
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Continued... In “Sin, Sex and the CIA,” the plot centers around a CIA agent who is brought in to oversee a deal between the United States and the Chogas Islands, a nation that has recently discovered oil. The U.S. does not want the country to join OPEC.
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Given the increasing importance of OPEC supply in the global oil supply-demand balance, another key issue is how OPEC production would respond to any increase in non-OPEC supply, potentially offsetting any direct price effect. [Energy Information...
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(GCC) has expanded exponentially, in terms of oil imports, human resource exports and remittances. So has India’s vulnerability to any conflict in the Gulf. After 1973: After the 1973 episode, the OPEC group has, under the influence of Saudi Arabia,...
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The Organization of Petroleum Exporting Countries will export 23.38 million barrels a day in the four weeks to March 3, up from the 23.21 million barrels in the period to Feb. 4, the Halifax, England-based researcher said today in an e-mailed report. ...
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So the people that knew him best turned him out and they let him go. Locally, he did even worse. So, I mean, when you think of it, what's going on? It's hard to believe. Mitt Romney's a good man, he's got some great ideas, strong on China, strong on OPEC.
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BMI sees a very slow rise in Iranian oil production over the forecast period, from an estimated 4.2mn barrels per day (b/d) in 2011 to 4.6mn b/d by 2021. Much of this increase will be driven by growth in natural gas liquids (NGL) production rather than...
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View: Crude and gas output is expected to rise over the course of our forecast period, although oil production is likely to be hampered by OPEC quotas. Despite a large potential for exploration, we believe that unless new basins (or significant fields...
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That's not to say there are not naysayers because of high current costs [costs tend to diminish as techniques improve], but some of those same naysayer warn about energy shortages, high prices, and "gold currency" payments for Middle East/OPEC oil...
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Iranian officials have long refused to negotiate curbs on its programme, saying it aims solely to produce electricity for booming domestic demand in OPEC's No. 2 oil-exporting state. The most recent talks between world powers and Iran collapsed in...
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The state-run Fars news agency gave a conflicting account, citing an unidentified oil ministry official as saying Iran warned the six European Union nations without cutting exports to any of them. An Iranian oil ministry official, declining to be
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Saudi Arabia, the top producer in the Organization of Petroleum Exporting Countries, has said it could compensate for much of the shortfall from Iran, which is OPEC's second-largest producer. And resurgent production from Libya, long crippled by the...
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The Paris-based International Chamber of Commerce, or ICC, had awarded the oil major $908 million over the 2007 nationalization of the Cerro Negro project in the South American OPEC member's vast Orinoco heavy crude belt. But President Hugo Chavez's...
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Over the last several decades the country has seen its production relentlessly slide, so much so that it left OPEC in 2008, seemingly confirming Marion King Hubbert’s “peak oil” theory. But, rather than looking back, Jakarta is looking forward on a...
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As also explained in the previous columns, Markey’s exposé is itself bogus, because (1) Keystone crude would displace OPEC crude whether the associated refined products were sold domestically or overseas, and (2) much of the refined product would...
About OPEC
Wikipedia
The Organization of Petroleum Exporting Countries (OPEC) is a cartel of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. The organization has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers... Full Article
Related Photos
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Reuters Pictures
OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's...
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Reuters Pictures
An OPEC official (2nd row C) and plain clothes police urge journalists to clear the plenary hall during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and...
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Reuters Pictures
OPEC Secretary General Adullah al-Badri (C) looks over journalists as Iranian Oil Minister and OPEC president Rostam Qasemi (L) talks during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit...
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Reuters Pictures
Kuwaiti Oil Minister Mohammad al-Busairi arrives for an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi...
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AP Photo
Secretary General of OPEC Abdalla Salem El Badri of Libya speaks to the media at the end of the meeting of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.
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Reuters Pictures
OPEC Secretary-General Abdalla Salem el-Badri (R) poses with Maria van der Hoeven, Executive Director of the International Energy Agency (IEA), at the IEA conference in Riyadh November 20, 2011. The global oil market looks balanced, Saudi Oil Minister Ali al-Naimi indicated on Sunday,...
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Reuters Pictures
Organization of the Petroleum Exporting Countries (OPEC) Secretary General Adullah al-Badri listens during the presentation of OPEC's 2011 World Oil Outlook in Vienna, November 8, 2011. OPEC is investing in new supplies to meet rising consumption, even as it sees the risk to the demand...
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AP Photo
Iranian Oil Minister Rostam Qassemi, smiles to the media at the start of his press conference in Tehran, Iran, Saturday, Feb. 4, 2012. Iran's oil minister repeated claims that an EU oil embargo will not cripple Iran's economy, claiming Saturday that the country already has identified...
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Getty Images
Iran's Oil Minister Rostam Qasemi speaks during a press conference in Tehran on February 4, 2012. Qasemi said that Iran has asked the members of the oil cartel OPEC not to increase production to compensate for a European Union oil embargo against Tehran.
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AP Photo
Workers wearing anti-OPEC shirts listen during the U.S. State Department's open hearing for the proposed Keystone XL Pipeline at the Port Arthur Civic Center in Port Arthur, Texas, Monday, Sept. 26, 2011. If constructed, the planned pipeline would connect TransCanada tar sands to...
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Getty Images
Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on...
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Getty Images
Quatari Minister of Energy and Industry Mohammed Biin Saleh Al-Sada attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a...
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Reuters Pictures
A view of the plenary hall during the opening session of an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi...
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Getty Images
Nigeria's Minister Diezani Alison-Madueke arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether to change oil production...
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Getty Images
Quatari Minister of Energy and Industry Mohammed Bin Saleh Al-Sada arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether...
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Getty Images
Ecuador Minister of Non-Renewable Natural Resources Wilson Pastor-Morris arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on...
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Reuters Pictures
United Arab Emirates' Oil Minister Mohamed bin Dhaen al-Hamli (R) talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an...
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Reuters Pictures
Libyan Oil Minister Abdulrahman Ben Yazza talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output...
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Reuters Pictures
Saudi Arabian Oil Minister Ali al-Naimi (C) talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Saudi Arabia responded to demand for its oil rather than the pace of fellow OPEC member Libya's rising oil exports, al-Naimi said.
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Reuters Pictures
Iranian Oil Minister Rostam Qasemi talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Qasemi told Reuters that he expected OPEC to agree to an oil output limit of around 30 million barrels per day at its Wednesday meeting.
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AP Photo
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi gestures as he speaks to journalists prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The...
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AP Photo
Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh arrives for a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The Organization of Petroleum Exporting Countries meets Wednesday in Vienna amid a...
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AP Photo
General view of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.
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AP Photo
A security asks the media to leave the conference room prior to the start of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.
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AP Photo
Iran's Minister of Petroleum and President of the Conference Rostam Ghasemi, left, gestures as he sits next to Secretary General of OPEC Abdalla Salem El Badri of Libya prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters...
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Reuters Pictures
OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's...
View Photo »
