Saturday, 22 December 2012 14:49
Posted by Imaduddin
CAIRO: Iraq's oil production has exceeded 3.2 million barrels a day (b/d) so far this month and it hopes to hit capacity of 4 million b/d in 2014, its Oil Minister Abdul Kareem Luaibi said on Saturday.
"Next year we're planning production close to 3.7 (million b/d)," he added in remarks to reporters on the sidelines of a meeting of the Organisation of Arab Petroleum Exporting Countries (OAPEC).
Iraq, rebuilding its energy industry after decades of war and sanctions, has emerged as the second biggest producer in the Organisation of Petroleum Exporting Countries (OPEC), leading to rivalry with top producer Saudi Arabia.
The two countries have backed different candidates to succeed Libya's Abdullah al-Badri as OPEC secretary general. His term was extended until the end of next year.
"There will be another debate in the first months of the new year... (the decision) should be by the end of May 2013," Luaibi said.
Saudi Arabia ...
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CAIRO: Iraq's oil production has exceeded 3.2 million barrels a day (b/d) so far this month and it hopes to hit capacity of 4 million b/d in 2014, its Oil Minister Abdul Kareem Luaibi said on Saturday.
"Next year we're planning production close to 3.7 (million b/d)," he added in remarks to reporters on the sidelines of a meeting of the Organisation of Arab Petroleum Exporting Countries (OAPEC).
Iraq, rebuilding its energy industry after decades of war and sanctions, has emerged as the second biggest producer in the Organisation of Petroleum Exporting Countries (OPEC), leading to rivalry with top producer Saudi Arabia.
The two countries have backed different candidates to succeed Libya's Abdullah al-Badri as OPEC secretary general. His term was extended until the end of next year.
"There will be another debate in the first months of the new year... (the decision) should be by the end of May 2013," Luaibi said.
Saudi Arabia ...
SEOUL: Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top exporter Saudi Arabia's oil minister Ali Al-Naimi said on Tuesday.
"You know my desire is that people leave the market alone," Naimi told Reuters in an interview in Seoul. "You know why? Because everybody now is happy with where the prices are. Nobody is complaining about high prices or low prices."
"They are no longer sky rocketing ...
TRIPOLI: Libya could proceed with a new round of oil exploration and production agreements in the current transtional period but the priority for now is to maintain pre-war output levels and future targets, the OPEC member's new oil minister told Reuters.
"Our priority is to maintain the production at 1.5 million barrels per day (bpd)," Abdelbari al-Arusi said in his first major interview with international media since he was sworn in last month.
"We now have our ...
ROME: The chief executive of Italian energy services company Saipem, a subsidiary of energy giant ENI, resigned on Wednesday amid an investigation into allegations of bribery in Algeria, the company said.
Saipem's board accepted Pietro Franco Tali's resignation after prosecutors notified the company they were looking into alleged corruption "up through 2009 in connection with certain contracts in Algeria", it said in a statement.
"Saipem believes that its business activities have been conducted in compliance with applicable ...
BAGHDAD: Iraq's oil exports rose to 2.622 million barrels per day (bpd) in October from 2.6 million the previous month, the oil ministry said on Thursday.
The total revenue derived from oil last month was $8.578 million, with the average selling price for one barrel of oil at $105.5, the ministry said.
Copyright Reuters, 2012 ...
ALGIERS: Algeria's imports of refined oil products this year may reach 3 million tonnes but will fall sharply in 2013, a senior official at state energy firm Sonatrach said on Sunday.
"Our imports will be between 2.5 million and 3 million tonnes for the full year. There will be little imported as of the end of February when maintenance work at refineries will be over," Yamina Hamdi, vice-president for commercial activity at Sonatrach, told reporters on ...
DUBAI: A gas pipeline feeding Yemen's only liquefied natural gas (LNG) export terminal will take around a week to be repaired following an attack on it last week, the country's oil minister was quoted as saying.
The 320-km (200-mile) gas pipeline that links block 18 to the Belhaf terminal on the Gulf of Aden was attacked on Oct. 31.
Technical teams were immediately sent to repair the damage, and believe the work can be finished in about ...
