Category: Petroleum News
-
Rosneft’s business results in the first quarter of 2023 jump in profits by 46%
The results of Russia’s Rosneft business recorded a significant jump in net profits during the first quarter of 2023, despite the internal and global difficulties, as it increased by 45.5% on a quarterly basis to 323 billion rubles (3.9 billion US dollars), which the company attributed mainly to the increase in profits. operational. Total operating…
-
The Sultanate of Oman invites Chinese companies to invest in oil and hydrogen production
The Sultanate of Oman is preparing to enhance opportunities for cooperation and economic partnership in the energy and mineral sectors with China, especially in the field of oil production. An Omani delegation visiting Beijing is currently discussing opportunities to increase the participation of Chinese companies in production, exploration and refining operations, as well as investing…
-
A report reveals a decline in Russian oil production by 300,000 barrels per day
Participants in global markets seek to verify Moscow’s commitment to reducing Russian oil production to 9.5 million barrels per day, in the period from March 2023 until the end of the year, as part of a group of voluntary production cuts for several member states of the OPEC + alliance, with the aim of achieving…
-
Namibia plans to acquire minority stakes in the oil and mining sectors
Namibia is accelerating its oil exploration and mining activities in an effort to enhance its production from these two vital sectors that have huge potential, and then the possibility of relying on them to enhance the national income of the state, after they have been untapped for many years, and this requires concerted efforts to…
-
Saudi Arabia is at the forefront of diesel exporters from the Middle East to Europe
Diesel exports from the Middle East to Europe hit a record high in April 2023, with the old continent seeking to secure its supplies away from Russia, in implementation of the sanctions imposed on Moscow following its invasion of Ukraine and its attempt to deprive it of the tools to finance this war that has…
-
Russian oil leads Asia’s imports to the highest level in 2023
Shipments of Russian oil pushed Asia’s crude imports to a record high in May 2023, in light of the continued growth of purchases by China and India, which are benefiting from attractive discounts offered by Moscow following Western sanctions imposed on it over its war in Ukraine. Asia’s oil imports are expected to rise to…
-
Saudi Arabia’s imports of Russian diesel recorded a record jump
Saudi Arabia’s imports of Russian diesel reached a record level in May (2023), benefiting from the discounts offered by Moscow, after the European Union banned Russian exports of seaborne oil products on February 5 of this year, as part of a series of Sanctions in response to the war in Ukraine, which aim to reduce…
-
Investment in the Algerian energy sector attracts a Saudi company
The Algerian energy sector continues to attract foreign investments and the attention of regional and international companies, especially operating in the oil, gas, petrochemical and fuel sectors, with the aim of establishing joint investment projects, given the promising opportunities that this sector provides that predict huge investments that generate returns that energy companies are looking…
-
The Sultanate of Oman discusses cooperation with South Korea to transport and store hydrogen (photos)
Hydrogen transportation and storage, as well as cooperation in the field of renewable energy, topped the talks between the Sultanate of Oman and South Korea, during a visit by an Omani delegation to Seoul. Today, Saturday, May 27 (2023), during a visit to the Republic of South Korea, a delegation from the Omani Ministry of…
-
Colombia’s oil and gas sector plans to award new exploration licenses
The oil and gas sector in Colombia plans to increase the number of new licenses granted in the field of exploration, in an effort by the country’s government to enhance its reserves of the two vital commodities. The Latin country, which is currently experiencing a dire economic situation, represented by skyrocketing inflation rates and a…