25, September 2016
OPEC: Algeria to host extraordinary meeting to discuss latest market situation 0
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers will be holding an extraordinary meeting to discuss the latest market situation in Algeria. The key focus of the meeting will be a proposal by Saudi Arabia for producers to keep their oil output at January levels – what Riyadh believes will help stabilize the prices in markets.
Iran has so far rejected the call to freeze its output as unfair and emphasized that it will go ahead with its plans to increase its oil production. Nevertheless, it had made it clear that it is ready to join the plan after its output reaches 4 barrels per day.
The country had been under multiple years of sanctions that limited its oil exports to 1 million barrels per day and also barred foreign investments in its oil industry. The sanctions were lifted in January after a nuclear deal that Iran had reached with the so-called P5+1 group of countries – the five permanent members of the UN Security Council plus Germany – came into effect.
Reuters reported on Friday that Saudi Arabia has informed Tehran that it is ready to reduce its oil output provided that Iran agrees to cap its own output at its current level of 3.6 million mb/d over the remaining months to the end of 2016.
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25, September 2016
4 Chadian soldiers, 7 Boko Haram militants killed in cross-border clashes 0
At least four Chadian soldiers and seven militants from the Nigeria-based Takfiri group Boko Haram have been killed in cross-border clashes in the volatile Lake Chad region. A security source said Sunday that the clashes erupted a day earlier after Boko Haram militants launched a raid from Nigeria on a Chadian military post near the border with Niger.
“Around 8:00 pm (1900 GMT) on Saturday night, Boko Haram members attacked the Djoroye border post near the Niger border in the Lake Chad region killing four of our soldiers,” said the sources, adding, “The Chadian army killed seven Boko Haram fighters”. There was no official confirmation from the Chadian military of the attack.
Chad is a member of a multinational task force combating Boko Haram across its border with Nigeria, Niger and Cameroon. The force has been created with the aim of preventing a spillover of the militancy to those countries from Nigeria. Boko Haram militants launched a similar cross-border raid on members of the Niger army two weeks ago. Officials in Niger said five soldiers and 30 militants were killed in the clashes that ensued on September 14.
More than 20,000 people, mostly Nigerians, have been killed since Boko Haram began waging a militancy in northern Nigeria in 2009. The group has pledged allegiance to Daesh, a Takfiri terrorist group mainly operating in the Middle East.
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