Latest news with #EnergyMinister
Bloomberg
4 days ago
- Business
- Bloomberg
Kazakhstan Says It Can't Cut Oil Output Despite OPEC+ Deal
Kazakhstan said it can't cut oil production right now, and even hopes to increase output beyond planned levels later this year, deepening a stand-off with its OPEC+ counterparts. Output is more than 70% controlled by 3 large international consortiums and 'the republic has no right to enforce production cuts' on their fields, Energy Minister Yerlan Akkenzhenov told reporters in Astana on Thursday. Nor can it 'practically' cut output at other old fields operated by state-run KazMunayGas National Co. JSC, he said.
Reuters
6 days ago
- Business
- Reuters
OPEC+ must be mindful of rising oil demand, UAE energy minister says
ABU DHABI, May 27 (Reuters) - OPEC+ is doing its best to balance the oil market, but needs to be mindful of rising demand, United Arab Emirates Energy Minister Suhail Mohamed Al Mazrouei said on Tuesday. OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has agreed various layers of cuts since 2022 to support the market. Members of the group, which plans to hold a full ministerial meeting on Wednesday, began unwinding some of the cuts in April. It has agreed larger-than-expected output boosts for May and June. "This group, that is OPEC+, I would say is doing its best to balance the market and ensure that we have enough investments in the supply," Al Mazrouei told a forum in Abu Dhabi. He had been asked about plans for oil output in July. "Rest assured, this group is doing its best. But it is not enough only this group, we need the help of others, and we need to be mindful of the demand. Demand is picking up, and the market is going to surprise us if we're not investing in it."
Reuters
7 days ago
- Business
- Reuters
Fire at Ecuador's biggest oil refinery under control, company says
QUITO, May 26 (Reuters) - A fuel oil tank fire that erupted Tuesday at Ecuador's biggest oil refinery is under control, state oil company Petroecuador and the country's energy minister both said. All personnel at Petroecuador's Esmeraldas refinery were safely evacuated with no injuries reported, and investigations into the cause and infrastructure damage are underway, the company said.
Bloomberg
25-05-2025
- Business
- Bloomberg
Portugal Continues Easing Limits on Power Imports From Spain
Portugal will continue to ease limits on the electricity interconnection capacity for imports from Spain after trading between the two countries was halted last month due to a blackout. The April 28 blackout left Portugal and Spain without electricity for hours, hitting public transport, telecommunications systems and other services. Portuguese Energy and Environment Minister Maria da Graca Carvalho said on May 2 that as a precaution Portugal was at that time not trading electricity with Spain and was being supplied entirely with power produced within the country.
Yahoo
24-05-2025
- Politics
- Yahoo
Energy minister sets out to reset Canada-Alberta relationship during Calgary visit
Canada's newly-minted Energy Minister Tim Hodgson was in Calgary on Friday, promising to heal divisions and drive development of natural resources after years of mistrust between the province and the Liberal government. Hodgson was born and raised in the Prairies and says under his watch, Canada will 'remain a reliable global supplier of oil and gas.' Heather Yourex-West reports.
