A history of ‘unrealized’ peaks By Haitham Al Ghais, OPEC Secretary General The idea of oil supply peaking, or so-called peak oil, surfaced as early as the 1880s, with some predicting a looming exhaustion in the US due to the demise of the Pennsylvania oil fields. US and global oil production, however, was still […]
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OIL: Nigeria’s output rises 6.9% to 1.43m bpd —OPEC By Eyo Nsima Nigeria’s oil output has risen to 1.43 million barrels per day, bpd in January 2024, from 1.34 million bpd recorded in December 2023, showing an increase of 6.9 per cent. According to the January 2024 Monthly Oil Market Report, MOMR of the
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Oil market: Joint Ministerial Monitoring Committee meeting ends The 52nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) that took place via videoconference has ended. In a statement obtained by The Daily, www.thedaily-ng.com, OPEC, stated: “The JMMC reviewed the crude oil production data for the months of November and December 2023 and noted the
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The Republic of Equatorial Guinea shares the same core values as OPEC/OPEC+, in its strategic positioning and vision in the world, but above all, in the constant objective of improving the standard of living of the people, to whom we owe a position of responsibility and solidarity, through a policy that imprints certainty in the
OPEC extends condolences on sad passing of HH Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah The Organization of the Petroleum Exporting Countries (OPEC) offers its deepest and heartfelt condolences on the passing of His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Amir of the State of Kuwait, to the leadership of the State of Kuwait, its ruling
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Saudi Arabia, Iraq, UAE remain top 3 oil producers — OPEC By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, said Saudi Arabia, Iraq and United Arab Emirate remain the top three oil producing countries with 8.818 million barrels per day, bpd, 4.093 million bpd and 2.894 million bpd, respectively. In its December
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African nations should reject anti-fossil fuel policies at COP 28 The hypocritical, biased and unjust climate agenda poses a direct threat towards Africa’s development, and countries should remain resilient in their efforts to defend their right to utilize oil and gas. With COP 28 set to conclude in the coming days, a COP where
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OIL MARKET: Prices hover at over $80 per barrel OPEC+ announce additional voluntary cuts By Eyo Nsima Oil prices, weekend, dropped to over $80 per barrel, from more than $90 per barrel, recorded in October 2023 as the OPEC+ countries move to achieve market stability. Specifically, the prices of Bonny Light, OPEC Basket and
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COP28: Focusing on a holistic approach to the energy system COP28 marks both a milestone in the ongoing negotiations on the future of our planet and a moment of pride for OPEC as it takes place in one of our Member Countries, the UAE. The UAE plays a critical role as a climate leader,
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AWARD: OPEC Scribe gets highest rank of Brazil’s prestigious Order of Rio Branco HE Haitham Al Ghais, OPEC Secretary General, was presented today with the highest rank of the Order of Rio Branco (rank: Grand Cross) of the Federative Republic of Brazil in recognition of his distinctive achievements in the fields of energy and
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