Category: Petroleum News
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Do new deals support Saudi Aramco shares in the upcoming sessions?
Saudi Aramco’s stock recorded a marginal decline – the first in 7 consecutive sessions – during trading today, Monday, on the Saudi Stock Exchange. The decline came despite Aramco announcing huge deals to increase its investments in the refining and petrochemical sector in China, the world’s largest oil importer. During the past 24 hours, Saudi…
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Revenues from Saudi oil exports decreased by 370 million dollars in January
Saudi oil export revenues decreased, during last January, on an annual basis, with the decline in oil prices compared to the same period in 2021. Official data – seen by the specialized energy platform – showed a decline in Saudi oil revenues in January, by approximately 1.7%, compared to the same period in 2022. The…
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Saudi Aramco announces a huge acquisition deal to boost its presence in China
Saudi Aramco has strengthened its presence in the refining and petrochemical sector in China through a huge acquisition deal. Aramco (one of the world’s leading integrated companies in the field of energy and petrochemicals) has signed definitive agreements to acquire a 10% stake in Rongsheng Petrochemical Company Limited, which is listed on the Shenzhen Stock…
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25 million barrels of Nigerian oil are looking for buyers…and these are the most prominent alternatives
Nigerian oil sales fell in March, due to strikes at French refineries, as well as seasonal maintenance elsewhere in Europe. Between 20 and 25 shipments of Nigerian oil for loading in April are still looking for buyers, and each shipment amounts to about 1 million barrels of crude oil, according to information seen by the…
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Offshore wind power in Scotland powers oil and gas platforms in the North Sea
Offshore wind energy in Scotland entered the oil and gas sector for the first time in the world, through a lease round in which reputable international energy companies competed in the sector. Crown e-State Scotland announced the selection of 13 bids out of 19 submitted bids to lease the seabed for the construction of wind…
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Aramco President: We support Chinese energy security through 3 main strategies
The CEO of Saudi Aramco, Amin Al-Nasser, announced that the oil giant has affirmed its support for China’s long-term energy security and development. Al-Nasser said, before the China Development Forum today, Sunday, March 26 (2023), that the company has partnerships and technologies to reduce emissions with China to produce low-carbon products. Al-Nasser also indicated that…
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The Iranian petrochemical industry is courting investors in Europe and America
The Iranian petrochemical industry has achieved remarkable successes recently, as part of the country’s aspirations to develop the leading sector, increase global competition, and open new markets. In this context, the CEO of the National Iranian Petrochemical Industries Company, Morteza Shahmirzai, said that his country has a market for long-term investments. Shahmirzai added that the…
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Oil and gas projects in Africa attract $16 billion in bank financing
The pace of implementation of oil and gas projects in Africa is accelerating in light of the growing demand for the two vital commodities. This prompted the governments of the countries of the continent to raise investment spending related to exploration and excavation activities. Indeed, entities outside the fossil fuel industry have begun directing their…
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The strike of the largest French refineries was forcibly ended and deliveries of the seized fuel shipments began
French police forced the largest French refineries to hand over fuel shipments withheld and resume refining work, after weeks of continuous strikes in protest against a regulation to raise the retirement age in the country. And French Energy Minister Agnès Pannier-Ronachet announced the resumption of fuel shipments from the Gonverville refinery in the Normandy region…
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The International Monetary Fund is anticipating Pakistan’s fuel pricing proposal before signing
The International Monetary Fund is awaiting the new fuel pricing plan in Pakistan; As a prelude to signing a prospective loan agreement that may help the crisis-hit country solve part of its deteriorating monetary problems. Fund officials said that signing the agreement is contingent on settling some remaining conditions with the Pakistani government. Including the…