OPEC Archives - Page 9 of 9

6th July 2020

Barkindo Welcomes new OPEC President

The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), His Excellency Mohammad Sanusi Barkindo, welcomed the newly appointed Minister of Energy, Algeria and OPEC President, His Excellency Abdelmadjid Attar via...

3rd July 2020

OPEC+ Production Cut in June is the lowest in almost 30 years

According to a survey by Bloomberg, the Organisation of Petroleum Exporting Countries' (OPEC) cut in production for June was the lowest since the Gulf war in 1991. This slash is...

20th June 2020

OPEC’s JMMC sets Monday Deadline for Submission of Compensation Plan to Secretariat

The Organisation of Petroleum Exporting Countries (OPEC) has mandated Nigeria, and other laggards in the first month of the oil production cut, to submit their oil production cut compensation plans...

12th June 2020

Angola to Reduce Number of Cargoes Sent to China

The APPO and OPEC member country is reducing its oil exports to China. This comes after the OPEC+ production cuts agreement that went into effect in May, which has been extended...

11th June 2020

Nigeria to Reach OPEC+ Compliance by July – Mele Kyari

The General Managing Director of the Nigerian National Petroleum Company (NNPC), Mele Kyari, has stated that Nigeria will reach full compliance with the OPEC+ deal by “maximum, middle of July.”...

8th June 2020

Oil Prices Climb as China’s Imports Hit an All-Time High, While U.S Producers Hope for Higher Prices

Oil prices climbed high on Monday after the agreement by OPEC+ on Saturday to extend the current production cut deal until the end of July, and China's crude imports hit...

6th June 2020

Report and Agreement of the 179TH OPEC Meeting on 6TH June 2020

The 179th meeting of the Organization of the Petroleum Exporting Countries (OPEC) was held via e-conferencing today, 6th of June, 2020, under the leadership of its president, Mohamed Arkab, Minister...

28th May 2020

Angola Executes Farm-in Agreement with Melbana Energy

Sonangol Group (Grupo Sonangol), the state-owned company tasked with overseeing the affairs of petroleum and natural gas production in Angola, has executed a farm-in agreement with Australian oil and gas...

19th May 2020

Nigeria’s Adherence to Oil Production Cut Will Lead to Deeper Economic Recession – Fitch

On Monday, 18th May, 2020, Fitch Ratings Agency said that the agreement between OPEC Member Countries and its allies to cut their daily oil production to 10 million barrels per day,...