Eni signs contracts worth up to $1.8 billion for Cyprus gas project
The Kronos development targets production in the first half of 2028, with gas routed through Egypt for export chiefly to Europe.
OPEC+ likely to leave December output targets unchanged, sources say
No final decision has been made ahead of a seven-member meeting, while Gulf producers remain below quotas following disruptions from the Iran war.
OPEC+ is expected to maintain its December oil production targets at an online meeting of seven core members, three people familiar with the matter said. The people, who requested anonymity, cautioned that a final decision remained pending.
Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman will take part. Gulf members have increased exports after months of disruption linked to the Iran war, but most continue to produce substantially less than their targets.
The group finished reversing a 1.65 million-barrel-per-day production cut in September. That reduction was originally agreed in 2023. A separate cut of about 2 million bpd remains in place for most members until the end of 2026.
Before establishing production baselines for 2027, OPEC+ must complete an assessment of members' capacity, sources have said. Those baselines will set future quotas and inform plans for removing the remaining cuts. A July media report said targets were likely to stay unchanged during the fourth quarter as attention shifted to the 2027 quota talks.
OPEC+ brings together the Organization of the Petroleum Exporting Countries and partners including Russia. Neither OPEC nor Russian authorities immediately provided comment.