Energy and Commodities Correspondent, UAE
Amena's Feed
Jan 12, 2015

Venezuela, Iran plea for oil cut hits Gulf OPEC brick wall

DUBAI/DOHA, Jan 12 (Reuters) – A diplomatic push by
Venezuela and Iran for an OPEC oil output cut has failed to
soften the refusal of the group’s Gulf members to do so for now,
delegates said on Monday.

An oil price sinking under $49 a barrel on Monday is
twisting the knife in Venezuela’s steadily shrinking economy and
in sanctions-bound Iran.

Dec 16, 2014

OPEC signals “wait and see” approach could last a year

DOHA, Dec 16 (Reuters) – Core Gulf OPEC oil producers
signalled this week they are prepared to wait as long as six
months to a year to see the market stabilise, quashing hopes for
any quick intervention to stop the price rout that took crude to
under $60 per barrel.

Some OPEC watchers had identified $60 as a potential red
line at which the group, which produces a third of global oil,
was expected to send a signal to the market that the decline had
been too fast and too steep.

Dec 16, 2014

Russia says won’t cut oil output, sees no price floor

DOHA, Dec 16 (Reuters) – Russia said on Tuesday it would not
cut oil output to help prop up prices and refrained from calling
on OPEC to do so despite its economy showing signs of severe
stress and its currency collapsing to record lows.

Oil prices dropped to near $59 per barrel on Tuesday for the
first time since 2009 after OPEC member the United Arab Emirates
reinforced on Monday the message from key Gulf producers that
OPEC would not rush to cut its production to balance the market
and alleviate a growing global glut.

Nov 26, 2014

Qatar runs covert desert training camp for Syrian rebels

DOHA (Reuters) – At a desert base, Gulf state Qatar is covertly training moderate Syrian rebels with U.S. help to fight both President Bashar al-Assad and Islamic State and may include more overtly Islamist insurgent groups, sources close to the matter say.

The camp, south of the capital between Saudi Arabia’s border and Al Udeid, the largest U.S. air base in the Middle East, is being used to train the Free Syrian Army (FSA) and other moderate rebels, the sources said.

Nov 26, 2014

Saudis signal no push for oil cut as market to ‘stabilize itself’

VIENNA (Reuters) – OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said he expected the oil market “to stabilize itself eventually” but did not comment on talks with Russia held on Tuesday, which produced no firm pledge from Moscow to help support flagging oil prices.

Iranian Oil Minister Bijan Zangeneh said some OPEC members, although not Iran itself, were gearing up for a battle over market share and insisted that non-OPEC producers needed to participate in any OPEC-led output cut.

Nov 25, 2014

Russian oil tsar to meet OPEC as Saudis keep market guessing

VIENNA, Nov 25 (Reuters) – Russia’s most powerful oil
official, Igor Sechin, was due in Vienna on Tuesday for talks
with OPEC members as the group’s leader Saudi Arabia kept the
market guessing about its response to flagging oil prices.

Sechin, the head of state oil company Rosneft and
a close ally of Russian President Vladimir Putin, is expected to
meet OPEC officials amid hints from Moscow that Russia could cut
output or exports if the producer group does the same.

Nov 19, 2014

Saudi Arabia leans on Gulf states to close ranks as region boils

DUBAI/DOHA (Reuters) – Gulf Arab states have shelved a bitter row among themselves, hoping to repair an alliance that has been sorely tested by chaos in the Middle East and the prospect of an Iranian nuclear deal that could tilt the regional balance of power toward their old foe Tehran.

Saudi Arabia, the United Arab Emirates (UAE) and Bahrain agreed at a meeting on Sunday to return their ambassadors to Qatar, signaling an end to an eight-month dispute over Doha’s backing of Islamist militants in Syria and elsewhere and its promotion of Arab Spring revolts.

Nov 11, 2014

Qatar emir issues summit invite amid strains over Islamists

DOHA (Reuters) – Qatar’s emir on Tuesday publicly invited fellow Gulf rulers to a Doha summit, apparently seeking to forestall what diplomats say is an attempt by some peers to move it elsewhere in protest at what they see as an Islamist tilt in his foreign policy.

Diplomats say preparations for the annual gathering of the Gulf Cooperation Council (GCC) have become indicative of an unprecedented rift between Gulf Arab states over Doha’s backing of Islamists during Arab Spring revolts.

Nov 3, 2014

Vodafone Qatar to turn profitable in 2015 -CFO

DOHA/DUBAI, Nov 3 (Reuters) – Vodafone Qatar
expects to turn profitable next year, its chief financial
officer said on Monday after it reported a narrower loss for the
second quarter.

Vodafone Qatar, an affiliate of British mobile phone
operator Vodafone Group, ended state-controlled
Ooredoo’s domestic monopoly in 2009 and has been
steadily reducing its quarterly losses as it attracts more
subscribers and lifts revenue.

Nov 2, 2014

Insight – Qatar pares support for Islamists but careful to preserve ties

DOHA (Reuters) – Qatar has joined the American-led coalition to fight Islamic State, yet the emirate is a haven for anti-Western groups and foreign diplomats have reported seeing cars with Islamic State logos in an affluent bay district.

Such ambiguity runs through Qatari policy.

When the United States sought allies against Islamic State in Sept, Qatar was among the Gulf Arab states that sent its warplanes into action. But while Saudi Arabia and the United Arab Emirates welcomed media coverage, Qatar was silent.