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Latest Chakib Khelil Stories

2009-02-11 14:26:00

WASHINGTON, Feb. 11 /PRNewswire-USNewswire/ -- The Abraham Energy Report is pleased to present a wide-ranging interview with Dr. Chakib Khelil, the immediate past president of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) and Minister of Energy and Mines for the People's Democratic Republic of Algeria. During his tenure as OPEC President, Dr. Khelil oversaw OPEC at one of the most volatile periods in the organization's history. Over the past year, OPEC has...

2008-11-26 13:56:15

The president of the Organization of Petroleum Exporting Countries said that production cuts would be considered in unofficial meetings in Cairo this week. Chakib Khelil, president of OPEC and the Algerian Minister of Energy and Mines, said Saturday's meetings would have crude oil production cuts on the agenda, the Kuwait News Agency reported Wednesday. OPEC trimmed production by 1.5 million barrels a day in October in an effort to prop up oil prices, which have fallen to under $50 a barrel...

2008-11-10 15:00:21

December may be too early for the Organization of Petroleum Exporting Counties ministers to decide on production cuts, a Libyan oil official says. OPEC members cut production by 1.5 million barrels a day in October to prop up prices as world demand has fallen in a time of floundering economies. Recently, OPEC President Chakib Khelil said the oil producers' target prices for was $70 to $90 per barrel, the Mediterranean Basin Newsline reported. But Shukri Ghanem, chief executive officer of...

2008-10-05 15:00:19

According to El-Khabar newspaper (October 2, 2008), the Algerian Minister of Energy and Mines, Mr. Chakib Khelil, said that any potential drop of oil prices during the two next coming years won't affect the national economy of Algeria, which has a foreign currency reserves of $133 billion. Algeria has not been affected by this crisis as she is an oil exporter. But if oil prices will keep sliding during the next 2 years, the economy will face real financial difficulties, added Minister Khelil....

2008-09-11 12:00:38

OPEC's decision to cut oil production, announced early in the morning on Sept. 10, took most analysts by surprise. The move, which could take about 520,000 barrels a day of oil off the market, is a sop to price hawks, such as Iran and Venezuela, as well as Chakib Khelil, the energy minister of Algeria and current president of OPEC. It was also a mild loss for Saudi Arabia, which has worked to lower prices in recent months. Following the news, oil prices rose about $1 per barrel in trading in...

2008-09-11 09:00:41

By Jad Mouawad In an unexpected decision made after a six-hour meeting that lasted into the early morning, the OPEC oil cartel said Wednesday that it would reduce its oil production by about half a million barrels a day in a bid to stem a rapid decline in oil prices in recent weeks. The outcome of the meeting represented a significant loss for moderate OPEC producers like Saudi Arabia, which had argued for the group to keep producing at full tilt. But fears that the market was...

2008-09-10 09:00:05

The Associated Press VIENNA, Austria Oil ministers with the Organization of Petroleum Exporting Countries have decided to curb production by more than 500,000 barrels a day. The move is a compromise meant to avoid new turmoil in oil markets while reflecting OPEC attempts to prevent prices from falling more sharply. Crude prices have dropped nearly 30 percent since spiking to nearly $150 a barrel in July. An OPEC statement issued after oil ministers ended their meeting early today said...

2008-09-10 06:00:26

By Barbara Hagenbaugh WASHINGTON -- U.S. consumers are expected to pay far more to heat their homes this winter than ever before, but recent energy price declines mean the tab won't be as huge as earlier thought, the government said Tuesday. The Organization of Petroleum Exporting Countries announced today from its meeting in Vienna that it would cut production by more than 500,000 barrels a day over the next 40 days. OPEC head Chakib Khelil said he expected prices would continue...

2008-07-30 09:01:19

Indonesia, despite having become a net oil importer, has put off plans to leave the Organization of Petroleum Exporting Countries. Indonesian Energy and Mineral Resources Minister Purnomo Yusgiantoro said Indonesia will remain a member this year as it has paid its annual membership dues of $2 million, Antara news agency reported Wednesday. The minister spoke after meeting with OPEC President Chakib Khelil. In May, Indonesian President Susilo Bambang Yudhoyono said the country may opt...

2008-07-30 09:01:19

Oil prices are still abnormally high, and members of the Organization of Petroleum Exporting Countries should not cut supplies if they continue to fall as the oil market is now in balance, Chakib Khelil, the president of the organization, said Tuesday. Khelil, who is also the Algerian oil minister, said oil prices could fall to $80 a barrel or below in the long term, if the U.S. dollar continued to strengthen and geopolitical anxieties eased. "The price today is abnormal at $123 a barrel,"...


Word of the Day
Cthulhu
  • A gigantic fictional humanoid alien god being described with a head resembling an octopus and dragon wings and claws, around whom an insane cult developed.
  • Pertaining to the mythos of Cthulhu and additional otherworldly beings created by H. P. Lovecraft or inspired by his writings and imitators.
This word was invented in 1926 by H.P. Lovecraft for his short story, 'The Call of Cthulhu.' 'Cthulhu' may be based on the word 'chthonic,' which in Greek mythology refers to the underworld.
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