OPEC

Speaking during the U.S.-Africa Leaders Summit, having taken place in Washington D.C. on 13 December, Equatorial Guinea’s Minister of Mines and Hydrocarbons and OPEC President for 2023, H.E. Gabriel Mbaga Obiang Lima, discussed the importance of oil and gas development in Africa and how exploitation of the continent’s natural resources will serve to reduce energy […]

By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC and its allies, widely known as OPEC+, have resolved to retain the present two million barrels per day, bpd, production quota. The decision was taken at the 34th OPEC and non-OPEC Ministerial Meeting, which took place by videoconference on Sunday, December 4, 2022. In a

The Minister of Mines and Hydrocarbons of Equatorial Guinea, Gabriel Mbaga Obiang Lima, will take over as the President of the Organization of Petroleum Exporting Countries (OPEC) in 2023, reestablishing Africa as a leading powerhouse in the global oil industry. Among the largest producers of oil in Africa, Equatorial Guinea has seen exponential GDP growth

OPEC daily basket price stood at $94.74 a barrel Wednesday, 2 November 2022, compared with $94.43 the previous day https://www.opec.org/opec_web/en/press_room/6758.htm   

The 2022 OPEC World Oil Outlook (WOO) was today launched at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 in the United Arab Emirates (UAE). First published in 2007, the WOO offers a detailed review and assessment of the medium- and long-term prospects for the global oil and energy industries to 2045. The

By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has predicted that the global population of Non- the Organization for Economic Cooperation and Development, Non-OECD, would increase by 1.6 billion between 2021 and 2045, from 7.9 billion to 9.5 billion. The organization, which disclosed this in its latest World oil Outlook, WOO, obtained by

Renowned for his extensive experience in the energy and oil sectors both in Kuwait and internationally, the newly appointed Secretary General for the Organization of the Petroleum Exporting Countries (OPEC), H.E. Haitham Al Ghais, will attend this year’s Angola Oil & Gas (AOG) 2022 Conference and Exhibition (https://bit.ly/3W6mRv6) , taking place on 29-30 November and

By Eyo  Nsima The prices of crude oil have increased to more than $100 per barrel, barely a few days after the meeting of the Organisation of Petroleum Exporting Countries, popularly known as OPEC+ in Vienna, Austria. Oil prices had dropped below $90 per barrel, due to the threat posed by the Coronavirus pandemic, but

By Eyo Nsima The secretary-general of APPO, the African Petroleum Producers Organisation, has come out in support of the recent decision by OPEC to cut production by around 2%, on the side-lines of Africa Oil Week (www.Africa-OilWeek.com) in Cape Town. “It is a decision well taken,” said APPO secretary-general Dr Omar Farouk Ibrahim, on the