Jeff Quigley, director of energy markets for Stratas Advisors, recently sat down with Hart Energy's Jessica Morales to discuss the outlook of OPEC's latest oil production agreement after returning from the group's meetings in Vienna last week.
Quigley said while the new agreement creates a sense of optimism there is still talk the extension may be revisited during the next meetings in June. According to Quigley, countries like Libya and Nigeria should have no problem upholding their part of the agreement. Additionally, Russia has voiced concern about the production cutbacks, so the world will be watching them throughout 2018.
ABB’s board of directors and Ulrich Spiesshofer have mutually agreed for him to step down from his role as CEO, which he has held since 2013, the company said on April 17.
The total capital investment of the Project is over $150 million, and there will be up to 250 people employed at the site during the height of construction activity.
Top oilfield services provider Schlumberger reported a drop in quarterly profit, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.