Bahrain’s oil minister vows to ensure market stability through joint OPEC+ efforts

The oil minister said the 2016 Declaration of Cooperation between OPEC members and the 10 non-OPEC oil-producing countries, to which Bahrain is a signatory, underpins the stability of the global oil market.
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Updated 23 August 2022
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Bahrain’s oil minister vows to ensure market stability through joint OPEC+ efforts

RIYADH: Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs Mohamed bin Mubarak bin Daina on Tuesday said that OPEC+ partners will continue to work together to manage global oil prices through production adjustment.

In a statement, he stressed that market stability is essential for managing global oil and energy supplies to avoid space capacity price volatility.

The oil minister said the 2016 Declaration of Cooperation between OPEC members and the 10 non-OPEC oil-producing countries, to which Bahrain is a signatory, underpins the stability of the global oil market. 

He affirmed Bahrain’s commitment to ensuring oil market stability through continuous cooperation with oil-producing countries. He stated Manama looks forward to participating in the upcoming ministerial meetings to reach a consensus on addressing challenges and unifying oil production policies.


QatarEnergy announces force majeure following Iran attacks: statement

Updated 04 March 2026
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QatarEnergy announces force majeure following Iran attacks: statement

DOHA: Qatar’s state-run energy firm on Wednesday declared force majeure following attacks on two of its main facilities that halted liquefied natural gas production and as Iran pressed missile and drone attacks across the Gulf.

“Further to the announcement by QatarEnergy to stop production of liquefied natural gas and associated products, QatarEnergy has declared Force Majeure to its affected buyers,” the company said in a statement.

QatarEnergy invoked the clause, which shields it from penalties and potential breach of contract claims from clients, after stopping LNG production on Monday.

Iranian drones attacked two of the company’s main production hubs in Ras Laffan Industrial City, 80 km north of Doha and in Mesaieed 40 km south of the Qatari capital, Doha’s ministry of defense said at the time.

The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia.

On Tuesday, QatarEnergy said it would halt some downstream production of some products including urea, polymers, methanol, aluminum and others.

Qatar shares the world’s largest natural gas reservoir with Iran.

QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves.

In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni, among others.