Ecuador Oil Minister to Visit Colombia, Mexico to Push Output Talks

March 30, 2016

Ecuador’s oil minister said on Monday he will travel to Colombia and Mexico this week to discuss a proposed meeting between Latin American oil producers to unify the region in backing an output freeze or other measures to bolster prices. The gathering between Colombia, Ecuador, Mexico and Venezuela was originally expected at the start of… Continue Reading »


Oil Producers Likely to Meet in April on Output Freeze

March 16, 2016

Major oil producers are likely to meet in April to discuss a proposal to freeze output at January levels to stabilize the market, according to four Gulf OPEC delegates. Ministers from some members of the Organization of Petroleum Exporting Countries had suggested that such a meeting would take place this month in Russia. The talks… Continue Reading »


Nigeria Says OPEC, Non-OPEC Producers To Meet In Moscow

March 5, 2016

Some members of the Organization of Petroleum Exporting Countries plan to meet with other producers in Russia around March 20 for new talks on an oil output freeze, Nigeria’s petroleum minister said on Thursday. “We’re beginning to see the price of crude inch up very slowly. But if the meeting that we’re scheduling, it should… Continue Reading »


Russian Oil Bosses Voice Support For Oil Output Freeze, Not Cut

March 4, 2016

Russian oil companies back the idea to freeze output at near-record levels reached in January, but did not support any proposals to cut oil production to lift global prices, Energy Minister Alexander Novak said. Russian President Vladimir Putin met the heads of the country’s top producers, including Rosneft Chief Executive Igor Sechin, Lukoil CEO and… Continue Reading »


Sources: Putin Summons Top Russian Oilmen on Tuesday

March 2, 2016

President Vladimir Putin has called for a meeting with top managers of Russia’s leading oil producers on Tuesday, which is expected to be dominated by low oil prices and taxation, industry sources said on Monday. The Vedomosti business daily cited a government source as saying that while there was no solid agenda for the meeting,… Continue Reading »


Oil, Gas Senior Execs Focus on Workforce, Growth and Technology

February 26, 2016

BP plc’s newly appointed deputy group chief executive Lamar McKay said the current downturn is among the most difficult he’s seen in 35 years, adding that times today are “brutal” as he addressed IHS CERAWeek attendees Tuesday afternoon. McKay, along with Mohammed Al-Qahtani, Saudi Aramco’s senior vice president for upstream, and Steve Williams, president and… Continue Reading »


Saudis and Russia Agree Oil Output Freeze, Talks with Iran to Follow

February 18, 2016

Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze output levels but said the deal was contingent on other producers joining in – a major sticking point with Iran absent from the talks and determined to raise production. The Saudi, Russian, Qatari and Venezuelan oil ministers announced the proposal after a previously… Continue Reading »


India’s PM Narendra Modi Calls for Fresh Look at Country’s Petroleum Sector

January 8, 2016

India’s Prime Minister Narendra Modi called for a fresh look at the petroleum sector as the government looked for solutions to address increasing energy consumption in the South Asian country following a meeting with top officials of supermajors such as BP plc and Royal Dutch Shell plc as well as the International Energy Agency (IEA)… Continue Reading »


OPEC Crude Production Steady in December After Vienna Meeting

January 2, 2016

OPEC crude output was steady this month as the 12-member group abandoned its usual production target. The Organization of Petroleum Exporting Countries increased production by 18,000 barrels to 32.139 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts.  OPEC set aside its output target of 30 million barrels a… Continue Reading »

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