HE Haitham Al Ghais, Secretary General of OPEC, emphasized the need to balance sustainable development with climate change mitigation. He underscored that OPEC Member Countries are fully committed to addressing…
OPEC
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OPEC’s spare oil production capacity is often cited by analysts as a key factor when the specter of rising oil prices looms. The recent International Energy Agency (IEA) monthly report…
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The OPEC+ coalition, spearheaded by Saudi Arabia, is set to enhance oil supply to the market starting in December. This decision comes despite indications that oil demand growth for this…
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The Organisation of the Petroleum Exporting Countries (OPEC) has revised its oil demand growth forecast for 2024 and 2025, announcing a reduction in its monthly report issued yesterday. The new…
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The OPEC Fund for International Development has initiated a significant step toward enhancing renewable energy in Tajikistan by approving a $25 million loan for the construction of the Roghun Hydropower…
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Tajikistan’s Rogun hydroelectric project has recently secured a $25 million loan from the OPEC Fund, marking the first tranche of a $100 million financing facility dedicated to the project. Construction…
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Kazakhstan, often seen as a “rogue” member of the OPEC+ alliance, has once again exceeded its oil production limits, potentially escalating tensions within the group. Recent reports indicate that the…
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A recent meeting at the headquarters of Petróleos de Venezuela, the state-owned oil company, focused on enhancing cooperation between the Venezuelan government and the global hydrocarbon community. During the meeting,…
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OPEC has projected that global oil demand will rise to 120.1 million barrels per day (bpd) by mid-century, reflecting an increase of 17 million bpd from current levels. This growth…
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Haitham Al Ghais, Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), has attributed the recent increase in fuel pump prices primarily to government taxes rather than crude oil…