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Libya and Nigeria, the two OPEC members exempt from the current oil production cut deal,
have been invited to participate in the producer group's latest ministerial committee meetin
g September 22.
The two countries have been asked to attend the meeting in Vienna to identify the latest d
evelopments in their oil sectors, Kuwait's OPEC governor, Haitham al-Ghais told Al-Rai ned
spaper Sunday.
Nigeria's oil production, including crude oil and condensates, is currently at around 2.2 mill
ion to 2.3 million b/d, including about 300,000 to 400,000 b/d of condensates, oil minister E
mmanuel Kachikwu said Thursday.
Libyan output had also recovered to reach an average of 990,000 b/d in July, its highest le
vel in three years, up 180,000 b/d in June, according to the latest S&P Global Platts OPEC
survey.
This was before the closure of three fields -- the 300,000 b/d Sharara, 90,000 b/d El-Fil an
d 10,000 b/d Hamada field, shutting-in around 360,000 b/d of output since the middle of Au
gust.
OPEC will consult with them to identify their plans, Ghas said.
The production cut agreement, which began January 1, calls on OPEC's 14 members alon
g with 10 non-OPEC countries, led by Russia, to cut a combined 1.8 million b/d in output th
rough March.
The group will hold a technical committee meeting on September 20, looking at the contin
ued effects of US shale oil on the global market, and the impact of Hurricane Harvey.
"The amount of production affected by the hurricane is estimated at 700,000 b/d, which m
ay strengthen the status of the market", Ghais said. US production had increased by 500,
000 b/d so far in 2017, compared with 2016, he added.
This will be followed September 22 by a committee overseeing the deal, composed of min
isters from Kuwait, Russia, Venezuela, Algeria, Oman and Saudi Arabia.
Sources have told Platts that Saudi Arabia and Russia are seeking to extend the deal for
a further three months to June, to demonstrate their commitment to market management
and dampen fears that the producers will return to a market-share battle as soon as the
deal expires.
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