Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • 170th (Extraordinary) Meeting of the OPEC Conference
    édité le 29/09/2016 - Plus de news de "OPEC" - Voir la fiche entreprise de "OPEC"


170th (Extraordinary) Meeting of the OPEC Conference
The Conference of the Organization of the Petroleum Exporting Countries (OPEC), following a Consultative Meeting in Algiers, Algeria, resolved to convene an Extraordinary Meeting of the Conference on Wednesday, 28th September 2016 under the Chairmanship of its President, HE Dr. Mohammed Bin Saleh Al-Sada, Qatar’s Minister of Energy and Industry and Head of its Delegation.

The Conference expressed its respect and deep appreciation to the President of Algeria, HE Abdelaziz Bouteflika, and to the Prime Minister, HE Abdelmalek Sellal, for hosting the 170th (Extraordinary) Meeting of the OPEC Conference. The Conference, furthermore, acknowledged and thanked HE Noureddine Boutarfa, Algeria’s Minister of Energy, for his untiring efforts and support for the ongoing consultations between all parties involved in the preparations for these meetings. At the same time, the Conference also congratulated HE Noureddine Boutarfa, who was attending a Meeting of OPEC Ministers for the first time since his appointment as Algeria’s Head of Delegation, and thanked his predecessor in office HE Dr. Salah Khebri, for his contribution to the work of the Organization.

The Conference warmly welcomed Gabon that was attending a Meeting of OPEC Ministers for the first time since officially rejoining the Organization in July, and HE Jabbar Ali Hussein Al-Luiebi, who was also attending a Meeting of the Conference for the first time since his appointment as Iraq’s Minister of Oil and Head of its Delegation.

In the last two years, the global oil market has witnessed many challenges, originating mainly from the supply side. As a result, prices have more than halved, while volatility has increased. Oil-exporting countries’ and oil companies’ revenues have dramatically declined, putting strains on their fiscal position and hindering their economic growth. The oil industry faced deep cuts in investment and massive layoffs, leading to a potential risk that oil supply may not meet demand in the future, with a detrimental effect on security of supply.

The Conference took into account current market conditions and immediate prospects and concluded that it is not advisable to ignore the potential risk that the present stock overhang may continue to weigh negatively well into the future, with a worsening impact on producers, consumers and the industry.

Based on the above observations and analysis, OPEC Member Countries have decided to conduct a serious and constructive dialogue with non-member producing countries, with the objective to stabilize the oil market and avoid the adverse impacts in the short- and medium-term.

The Conference concurs that there is firm and common ground that continuous collaborative efforts among producers, both within and outside OPEC, would help restore the balance and sustainability in the market.

At this juncture, it is foremost to reaffirm OPEC’s continued commitment to stable markets, for the mutual interests of producing nations, efficient and secure supplies to the consumers, with a fair return on invested capital for all producers.

The Conference, following the overall assessment of the global oil demand and supply balance presented by the OPEC Secretariat, noted that world oil demand remains robust, while the prospects of future supplies are being negatively impacted by deep cuts in investments and massive layoffs. The Conference, in particular, addressed the challenge of drawing down the excess stock levels in the coming quarters, and noted the drop in United States oil inventories seen in recent weeks.

The Conference opted for an OPEC-14 production target ranging between 32.5 and 33.0 mb/d, in order to accelerate the ongoing drawdown of the stock overhang and bring the rebalancing forward.

The Conference decided to establish a High Level Committee comprising representatives of Member Countries, supported by the OPEC Secretariat, to study and recommend the implementation of the production level of the Member Countries. Furthermore, the Committee shall develop a framework of high-level consultations between OPEC and non-OPEC oil-producing countries, including identifying risks and taking pro-active measures that would ensure a balanced oil market on a sustainable basis, to be considered at the November OPEC Conference.

Finally, the Conference again expressed its deepest appreciation to the Government and to the people of Algeria, and to the authorities of the City of Algiers for their warm hospitality and the excellent arrangements made for the Meeting.

About OPEC

In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers a fair return on capital for those investing in the petroleum industry.


Origine : Communiqué OPEC

Voir la fiche entreprise de "OPEC"



Les dernières news de "OPEC"



Toutes les news de "OPEC"
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi acquisition adnoc aker-bp aker-solutions algeria algerie algerie alstom anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi cgg chevron china chiyoda cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt engie engineering eni equinor equinor exxonmobil feed flng fluor fluxys foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge germany ghana gnl gtt gulf-of-mexico guyana halliburton hess india indonesia inpex iraq italy jacobs jgc kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mexico mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pemex petoro petrobras petrofac petronas pgnig pipeline platform production qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger senegal shale-gas shell socar sonatrach statoil subsea subsea-7 survey tap technip technipfmc texas total tullow turbine ufip uk us vallourec vopak well wintershall wood-group woodside



Europétrole © 2003 - 2022