Articles by Peg Mackey

Iran Plans Fund to Skirt Sanctions

  • 28 May 07
  • Reuters
Iran is planning an investment fund outside the Islamic Republic to raise financing for its huge South Pars gas field and circumvent a financial squeeze by Washington, a top Iranian energy official said Sunday.

Dependence on OPEC Falling

  • 13 September 06
  • Reuters
The IEA says the world's oil consumers may soon stop relying so heavily on the cartel for their energy needs.

Oil Prices Surge in Response to Warning From Khamenei

  • 06 June 06
  • Reuters
Oil prices climbed more than $1 to above $73 on Monday after major exporter Iran hinted it might use oil as a weapon in its nuclear dispute with the West.

OPEC Keeps Oil Output Unchanged

  • 01 February 06
  • Reuters
OPEC sealed a deal to keep oil output near maximum levels to tame prices on Tuesday.

OPEC Agrees to Oil Limit Cut

  • 11 February 04
  • Reuters
The Organization of Petroleum Exporting Countries on Tuesday agreed to a surprise cut in oil output limits from April, aiming to prevent a price slump as winter fuel demand wanes, an OPEC delegate said.

OPEC Surprises, Hikes Output Limits

  • 25 April 03
  • Reuters
OPEC oil producers pulled a surprise Thursday by raising official output limits, effectively legitimizing a portion of extra prewar supplies.

Iraq to Hit 800,000 bpd in May

  • 24 April 03
  • Reuters
Iraq's giant southern oil fields have started pumping well ahead of schedule and could by mid-May be cranking out 800,000 barrels per day, a senior U.S. official said Wednesday.

U.S. Seeks CEO for Iraq's Oil Sector

  • 21 April 03
  • Reuters
Washington is seeking an Iraqi chief executive officer to head a multinational board of up to 16 to kick start postwar Iraqi oil operations, industry sources said Saturday.

OPEC Agrees to Boost Output

  • 13 January 03
  • Reuters
OPEC on Sunday agreed to raise production to stave off an oil price shock threatened by a strike in Venezuela and war in Iraq.

Saudis to Rein in Oil Production

  • 20 November 02
  • Reuters
OPEC power Saudi Arabia has changed tack on output policy and is leading a drive aimed at reining in overproduction to help stem a slide in world oil prices, industry and OPEC sources said Tuesday.

Iraqis Recall Bitter Oil History

  • 13 November 02
  • Reuters
Whether sanctions are removed by a U.S.-led war on Baghdad or UN weapons inspections, the world's top oil companies are hungry for access to Iraq's 112 billion barrels of reserves.

Saudis Strive to Save $25Bln Gas Project

  • 10 September 02
  • Reuters
Saudi Arabia has made a last-ditch bid to rescue its landmark gas investment opening, at breakpoint after a yearlong battle between the kingdom and the world's leading oil majors over commercial terms.

Iraq Blames Oil Client Exodus on UN Policy

  • 04 June 02
  • Reuters
Iraq said its oil exports had ground to a halt on Monday and blamed a United Nations retroactive price policy for driving away its customers.

Oil Dives 10% in Spat Over Output

  • 15 November 01
  • Reuters
Oil prices plummeted 10 percent Wednesday as OPEC deferred new output curbs.

OPEC Lacks Ready Cure for Oil Prices

  • 26 September 01
  • Reuters
OPEC producers on Tuesday offered no immediate remedy for a collapse in crude prices that threatens to ruin the cartel's successful two-year strategy of keeping oil in a high price band.