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OPEC and OAPEC

OPEC, oil majors still cautious on investment

OPEC's newly announced plans to spend billions of dollars on future supplies are unlikely to unleash a flood of oil on to the market as it maintains a policy of restraint and supporting prices for years to come.     (more…)

OPEC Refuses to Increase Oil Output; Crude Reaches $100

“The reason these OPEC ministers say they’re not likely to add any supply soon is because there is enough supply on the market and these high prices are due to speculation rather than supply and demand.”     (more…)

Al-Braidi and Khalaf win OAPEC 2nd scientific award for 2010

Al-Baath University in Homs honored Dr. Musab al-Din al-Baraidi OAPEC 2nd scientific Award winner on the theme "The results of the application of modern technologies in the Oil exploration and production in Arab countries and their economic…

Kuwait says 100$ for abarrel of oil is acceptable

Two key OPEC ministers hailed oil prices as "fair" on Thursday, showing little inclination to pump more crude to prevent oil prices that have rallied to more than a two-year high over USD 91 a barrel from stifling the global economic…

Iran official hopes gas group to match OPEC

Iran’s OPEC governor Mohammad Ali Khatibi hopes the influence of a group of gas exporting nations will rise over the next 10 years to match that of OPEC, according to an interview published in Hamshahri daily.     (more…)