VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to support the agricultural and food production sectors, prioritizing 11 cities hit by the devastating earthquakes of February 2023. The Development and Investment Bank of Türkiye (TKYB) will on-lend the funds...

Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of Governors meeting for fear of aggravating geopolitical tensions, diplomats said. Last week, the International Atomic Energy Agency said in confidential quarterly reports that Tehran's cooperation with the agency remained poor...

The OMV is headquartered and listed in Vienna, Austria.

The current output strategy by OPEC+ that saw nine members led by Riyadh to cut production in recent months to boost prices has failed to bring about lasting recovery. Some analysts have pointed to possible discord between top crude oil producers Saudi Arabia and Russia.

VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of Benin to strengthen the technical and professional competences of the country’s workforce. The Ouidah Djougou Vocational Training Schools Project will support the transformation of the technical high schools in Djougou...

Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of the current year, Russian Deputy Prime Minister Alexander Novak said on Sunday, Russian news agency TASS reported. "Russia will continue additional voluntary decrease of supplies of its oil and oil...

VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts from over 145 countries gathered here to explore solutions for moving towards net-zero and meeting the Sustainable Development Goals. The two-day International Vienna Energy and Climate Forum, which concluded on...

Vienna, Austria -- Qatar Friday called for intensifying international efforts to subject all Israeli nuclear facilities to International Atomic Energy Agency safeguards, and for Israel to join the Treaty on the Non-Proliferation of nuclear weapons as a non-nuclear state. Chairman of the National Committee for the Prohibition of Weapons Dr....

International Atomic Energy Agency (IAEA) director general Rafael Grossi "requests Iran to work with the agency in earnest and in a sustained way towards the fulfilment of the commitments," the agency said in a confidential report seen by AFP. Tehran in March vowed to reactivate surveillance devices which were disconnected...

Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in 2024, raising its 2023 forecast to 2.4 mb/d, following an upward revision of about 0.1 mbn/d from last month's assessment. In its Monthly Oil Market Report, the global organization said...

Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services agreement with Austria at the Ministry of Foreign Affairs in the capital, Vienna. The agreement, which aims to strengthen air transport relations between the two countries, was signed on behalf...

Al-Jaber, head of the UAE national oil company ADNOC, told ministers from countries of the OPEC oil producers' grouping the industry must "urgently decarbonize its operations and take collective action to eliminate operational emissions".

Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for the latest production cuts by Saudi Arabia, Russia, and Algeria. Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August, while Russia...

Vienna, Austria - Mohamed Aoun, Libyan Minister of Oil and Gas, has said that Libya is continuing its gas export operations to Europe through the Greenstream pipeline, local media reports said. He noted that an increase in gas exports is currently unfeasible, but could be considered in the future, after...

Oil producers are grappling with falling prices and high market volatility amid fears of global economic slowdown and the Russian invasion of Ukraine, which has upended economies worldwide.

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania. The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy...

VIENNA, AUSTRIA - The Federal Authority for Nuclear Regulation (FANR) is taking part in an international conference organized by the International Atomic Energy Agency (IAEA) here. In the five-day event, which will conclude on Friday, over 500 participants from 94 countries and seven international organizations are gathering to discuss effective...

ABU DHABI,  UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) said the country believes in promoting a safe and sustainable outer space environment. The UAE delegation is headed by Omran Sharaf, Assistant Minister of Foreign...

The UAE energy minister Suhail Mohamed Al Mazrouei said he expected the outcome of meeting to "balance the market and ensure we are ready for any challenges in the future". Analysts expected OPEC+ producers to maintain their current policy, but signs emerged that staying the course might fall short of...

Vienna, Austria - Austria said on Wednesday it will ban TikTok on federal employees' work phones, joining a growing list of Western nations cracking down on the Chinese-owned social media platform due to security concerns. The decision followed advice from Austria's intelligence services and several ministry experts. Similar measures have recently...

VIENNA, AUSTRIA  -  Coca cultivation hit a record high by soaring 35 percent from 2020 to 2021, a UN report showed Thursday, amid new cocaine trafficking hubs emerging in southeastern Europe and Africa. Bolivia, Colombia and Peru - which have historically dominated the production of coca leaves - altogether cultivated an...

Vienna, Austria  – The Organisation of the Petroleum Exporting Countries (OPEC) projected oil demand to grow by a healthy 2.3 mb/d YoY in 2023 to average at 101.9 mb/d, driven by the ongoing recovery in the travel and transportation sectors. “Following estimated growth of 2.5 mb/d y-oy in 2022, oil...

Grossi was greeted Friday at Mehrabad International Airport by Behrouz Kamalvandi, spokesman for the Atomic Energy Organization of Iran, and later met with its head Mohammad Eslami. They were to hold a joint press conference Saturday morning. During the visit, the IAEA director general will try to secure "more access...

Tehran, Iran - Iran said Wednesday that International Atomic Energy Agency inspectors were in the country to clear up "ambiguities" about its uranium enrichment activities. The visit comes after a report by Bloomberg News last week, strongly denied by Tehran, that its nuclear scientists have enriched uranium to 84 percent purity,...

The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent.

The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first dedicated Climate Action Plan earlier this year.

UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the Past and Anticipating the Future", hosted by the International Atomic Energy Agency (IAEA) at its headquarters in Vienna.

Revenue doubled year-on-year to US$17.1 billion.

This year’s publication will again be accompanied by a smart app to give increased access to the WOO’s vital analysis and energy data.

Oil prices had slid in recent weeks back to the levels before the war in Ukraine on concerns of a global slowdown, but have surged in recent days on expectations of the production cut. The main international crude contract, Brent, jumped two percent following the decision before finishing at $93.37...

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organization said.

The International Atomic Energy Agency called Tuesday for the establishment of a security zone around Ukraine's Zaporizhzhia nuclear power plant, occupied by Russia and the site of recent shelling. "The current situation is untenable," the UN atomic watchdog said in a report after it sent a team to the plant...

The European Union said Tuesday it was studying Iran's response to a "final" draft agreement on reviving a 2015 nuclear accord with major powers it presented at talks in Vienna. The United States had already said Monday that it was informing EU foreign policy chief Josep Borrell of its response...

The American side has verbally accepted the two demands from Iran, said Hossein Amir-Abdollahian. "If our opinion is accepted, we are ready to conclude and announce the accord at a meeting of foreign ministers," he said.

Iran may accept the final compromise worked out in Vienna to save the 2015 nuclear agreement, its official news agency IRNA said on Friday. The deal meant to curb Iran's nuclear programme has been moribund since the withdrawal of the United States under president Donald Trump in 2018. The major...

Iran said Monday it is examining a "final text" presented by the European Union at the negotiations in Vienna aimed at restoring a 2015 nuclear deal between Tehran and world powers. The comments came after a European official said the EU has tabled the "final" version of the text, negotiations...

Iran said Monday it remains "optimistic" about a possible revival of the 2015 nuclear deal after the European Union tabled a proposal aiming for a compromise in the talks stalled since March. "We remain optimistic that the negotiation process will lead us to a logical and reasonable outcome," foreign ministry...

Iran said Monday it will not be rushed into a "quick" deal reviving its faltering 2015 nuclear accord with world powers, as negotiations remain deadlocked. "They demand that Iran makes a quick decision, (insisting that) time is limited and Iran must respond quickly," foreign ministry spokesman Nasser Kanani said at...

French President Emmanuel Macron on Saturday told his Iranian counterpart Ebrahim Raisi that reviving the landmark 2015 deal on Tehran's nuclear capabilities was "still possible" but must happen "as soon as possible".

US special envoy Robert Malley and Iran's Ali Bagheri have landed in Doha and met officials after more than a year of European Union-mediated talks in Vienna on a return to the 2015 agreement.

European Union foreign policy chief Josep Borrell is set to travel to Tehran on Friday for a surprise visit that could breathe new life into stalled talks on reviving the 2015 Iran nuclear deal. Borrell was due to arrive in the Iranian capital at night to meet Foreign Minister Hossein...

Tehran on Monday questioned Washington's will in reaching an agreement to restore the 2015 nuclear agreement, with key sticking points unresolved after talks halted last month. Iran has been engaged for a year in negotiations with France, Germany, Britain, Russia and China directly, and the United States indirectly to revive...

Iranian foreign ministry spokesman Saeed Khatibzadeh said that the country's negotiators would not return to Vienna, the site of the year-long talks to restore the nuclear deal — formally called the Joint Comprehensive Plan of Action (JCPOA) — until Washington settles outstanding issues.

Iran said Monday it will only return to Vienna in order to finalize an agreement to revive its landmark 2015 nuclear deal with world powers, with the last steps dependent on Washington. Tehran has been engaged in long-running negotiations in the Austrian capital to revive the deal, known formally as...

Iran has been engaged in negotiations to revive the deal, known formally as the Joint Comprehensive Plan of Action (JCPOA), with France, Germany, Britain, Russia and China directly, and the United States indirectly.

The grants were approved at the 179th session of OFID’s Governing Board in Vienna.

Iran's foreign minister said Friday he was ready to travel to Vienna if a deal is reached to revive the 2015 nuclear accord, as the US suggested an agreement is possible.

All sides to the negotiations have signaled progress in the talks being held in the Austrian capital, but add that they are at a critical stage. Iran has repeatedly emphasized the need for the West to make certain "decisions".

Iran's chief negotiator will fly back to Vienna on Sunday evening following consultations in Tehran, state media reported, as talks to revive the 2015 nuclear deal reached a critical stage.

"No matter how close we are to the finish line, there is not necessarily a guarantee to cross it," Ali Bagheri tweeted after flying back to Tehran.