OPEC
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Zangeneh Says Kazempour’s Death a “Major Loss”
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh on Saturday heaped praise on Iran’s deceased OPEC governor Hossein Kazempour Ardebili, saying his recent death was a “major loss” for the country.
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OPEC Ministers Meet to Decide Supply Cut
TEHRAN (Shana) -- OPEC ministers on Saturday came together on videoconference to discuss what policy to adopt on oil production in coming months amid falling demand due to the coronavirus outbreak.
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OPEC Conference and OPEC and non-OPEC Ministerial Meeting rescheduled to June 6
TEHRAN (Shana) -- The 179th Meeting of the OPEC Conference and the 11th OPEC and non-OPEC Ministerial Meeting that were originally planned for 9 and 10 June 2020, respectively, are now scheduled to take place via videoconference on Saturday, 6 June 2020.
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Sec. Gen. Opening Remarks at OPEC+ Technical Meeting
TEHRAN (Shana) -- Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 7th Technical Meeting of OPEC and non-OPEC Countries under the DoC, 4 June 2020, via videoconference.
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133rd Meeting of Economic Commission Board Convenes via Webinar
VIENNA--The 133rd Economic Commission Board (ECB) of OPEC has convened by Webinar in Vienna. The ECB is the economic and technical statutory think-tank of the Organization. It meets routinely before the ordinary Ministerial Conference held biannually in June and December. The Board comprises of the Secretary General as the Chairman and National Representatives as members.
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Iran Eyes 100 mt Petchem Output in 1399
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity was planned to cross 10 million tons per year in the current Iranian calendar year which began on March 20.
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Secretariat Produces Footage of Late Kazempour Ardebili Photos at OPEC
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC) Secretariat has produced a video showing a number of images of late Hossein Kazempour Ardebili, senior Iranian energy strategist and Iran's OPEC Governor, in the organization. Mr. Kazempour died on Saturday at 68 after nearly two weeks in a coma caused by a severe stroke.
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IEF Secretary General Sends Letter of Condolences on Death of Veteran Iran OPEC Governor
TEHRAN (Shana) -- Sun Xiansheng, Secretary General of the International Energy Forum (IEF), sent a letter of condolences to Iranian Minister of Petroleum Bijan Zangeneh on the death of Hossein Kazempour Ardebili, Iran’s representative at the board of governors of the Organization of the Petroleum Exporting Countries (OPEC).
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Sec. Gen Sends Letter of Condolences to Zangeneh on Death of OPEC Governor
TEHRAN (Shana) -- Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), sent an official letter of condolences to the Iranian Minister of Petroleum Bijan Zangeneh to express his sorrow for the death of Hossein Kazempour Ardebili, Iran’s OPEC governor.
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Iran Mourns Loss of OPEC Boss
TEHRAN (Shana) -- Following are some of the historical photos of Hossein Kazempour Ardebili, veteran Iranian energy diplomat who died on Saturday after nearly two weeks in a coma. May Lord bless his soul in Heaven.
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Iran OPEC Boss Dies
TEHRAN (Shana) -- Iran's OPEC Governor Hossein Kazempour Ardebili died early Saturday after suffering a brain hemorrhage and spending nearly two weeks in a coma.
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Iran OPEC Boss in Coma after Brain Haemorrhage
TEHRAN (Shana) -- Iran's veteran OPEC Governor Hossein Kazempour Ardebili has slipped into a coma after a severe brain haemorrhage.
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US Crude Oil Plunges below zero in Unprecedented Wipeout; Why?
TEHRAN (Shana) – Monday, April 20, 2020, was a historic day for New York Mercantile Exchange's (NYMEX) crude oil contracts as the price of the item plummeted to minus $ 37.63 for the first time in the industry’s history. Here is why all this happened.
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OPEC cannot Address Oil Market Crash Alone: Zangeneh
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh described the recent drop in oil prices as unprecedented, and said, “Resolving crude oil issues need global support, and producers must work together in order to survive, especially producers who produce more expensive crude.”
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OPEC+ Ministers hold Virtual Meeting amid Insane Oil Market
TEHRAN (Shana) -- Several oil and energy ministers of the OPEC–non-OPEC oil producing countries, signatories of the Declaration of Cooperation, held an informal teleconference to brainstorm the current dramatic oil market situation.
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Goldman Sachs still sees crude prices falling after OPEC+ deal
(Reuters) - Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a "historic yet insufficient" deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout.
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10th OPEC+ Teleconference
TEHRAN (Shana) -- OPEC+ struck a deal to cut the group’s output by 10 million barrels per day in May and June 2020 which would be accompanied by G20’s decision to cut its oil output by 3.7 mbd within a year. The group men on Sunday evening to finalize a deal that had been hampered by Mexico three days earlier.
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G20 to Cut Output by 3.7mbd along with 9.7mbd by OPEC+
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said OPEC+ had just struck a deal to cut the group’s output by 10 million barrels per day (including 300,000b/d by US) in May and June 2020 which would be accompanied by G20’s decision to cut its oil output by 3.7 mbd for a year.
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OPEC+ Finalises Historic Cut Deal
TEHRAN (Shana) -- The deal covers the group's production level by the next 2 years and will be implemented in 3 stages.
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10th OPEC+ Meeting Begins Online
TEHRAN (Shana) – The 23 members of the coalition of the Organization of the Petroleum Exporting Countries (OPEC) and allies, a group called OPEC+, has just begun via webinar.
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9th OPEC+ Meeting held via Webinar
TEHRAN (Shana) -- The 9th meeting of the oil and energy ministers of OPEC and non-OPEC oil producers was held on Thursday, April 9, and lasted over 11 hours as Mexico failed to support a widely endorsed deal to cut the 23-member coalition's crude oil output by 10mbd.
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OPEC+ Clinch 10mbd Output Cut Deal
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the coalition of oil producers at the Organization of the Petroleum Exporting Countries (OPEC) and their non-OPEC allies had agreed to curtail the group’s output by 10 mbd.
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OPEC+ Hammering Out Historic Cut Deal
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the Organization of the Petroleum Exporting Countries (OPEC) and its non-OPEC allies, especially Russia, were finalizing an agreement to cut production by at least 10 million barrels per day.
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OPEC+ Videoconference Meeting Begins
TEHRAN (Shana) -- A crunch videoconference meeting between the Organization of the Petroleum Exporting Countries (OPEC) and Russia started on Thursday evening.
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OPEC vs. Non-OPEC
TEHRAN (Shana) -- The oil price slump following failure of OPEC+ talks in March is the biggest blow to the oil market since the third oil shock; a new scenario is emerging for the oil market.
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Zangeneh Phones Russian, Kuwaiti, Algerian Counterparts on Sinking Oil Prices
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh discussed the latest oil market developments and price fluctuations with Mohamed Arkab, Algerian Minister of Energy and Mines and the President of OPEC Conference on Tuesday afternoon. He also had a telephone conversation with his Russian and Kuwaiti counterparts on Monday.
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Oil Market hit by 8-Magnitude Quake: Analysts
TEHRAN (Shana) – Look at these remarks made by heads of states in the aftermath of sinking oil prices and demand destruction caused by the coronavirus outbreak: "We will not give in to Saudi oil extortion", "Coronavirus and Saudi Arabia are the cause of falling oil prices", “Russia's energy minister was the first to tell the media that OPEC+ production cuts would face away as of April 1”, "It is a free market and Saudi Arabia and Russia must resolve the price war they have waged which has caused the fall in prices”, "How can Russia and Saudi Arabia not agree and prevent the prices from sinking? What about the responsibility for humanity? Where has global brotherhood gone? Where are the so-called world leaders?”
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OPEC, non-OPEC Agreement Reachable before April: Zangeneh
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh says OPEC+ could reach an agreement to consider deeper cuts in the group’s output before the end of March.
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OPEC Pegs Deeper Cuts at Non-OPEC Support
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said oil producers at OPEC had uniformly proposed a major cut in the group’s crude oil output, but waited for non-OPEC allies, especially Russia, to back the move by considering cuts in their production.
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OPEC Waiting for Non-OPEC Approval for Historic Output Cuts
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh says OPEC had decided to wait for an agreement of non-OPEC allies to consider major cuts in the group’s output to shore up oil prices.