Category: Petroleum News
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UAE ENOC announces a 5-pronged strategy for leadership in the sustainable energy sector
Today, Thursday, March 23 (2023), the Emirates National Oil Company (ENOC) revealed a 5-pronged strategy to raise the group to the forefront of providing the best global solutions in the sustainable and integrated energy sector. The company’s long-term strategy for growth, in order to meet the growing demand for reliable, safe and sustainable energy locally…
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He went to invest the gas fields in Iraq to support the power stations
As part of the ongoing efforts to solve the electricity crisis, the gas fields in Iraq are witnessing a government tendency to invest in them and support the continuity of their work. In joint statements, Iraqi Oil Minister Hayan Abdul-Ghani and Electricity Minister Ziyad Ali Fadel confirmed today, Wednesday, March 22, 2023, the directives of…
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The largest oil traders in the world are hinting at their return to the activity of selling Moscow crude and its derivatives
The world’s largest oil trader is considering re-expanding the sale of Russia’s crude and oil derivatives again, after a year and more of restricting trade during it due to the Ukrainian war. The CEOs of the Vitol and Trafigura groups revealed their study of resuming extensive commercial dealings in Russian oil and derivatives, without specifying…
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Shares of major oil companies rise, led by Saudi Aramco
Shares of major oil companies received a significant boost during trading today, Tuesday, March 21, after a number of central banks revealed their intention to inject liquidity into the market to support the banking system. And the stocks of energy companies in the Asian, European and American markets reaped gains again, in conjunction with the…
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Iran is flirting with Saudi Arabia and OPEC + countries with an oil investment deal
Iran has become open to foreign investment, following the recent agreement between Riyadh and Tehran to resume their diplomatic relations, after a 7-year break. And the Iranian Ministry of Oil issued a statement – on March 19, 2023 – in which it said that it welcomed any offer of foreign investment in its projects in…
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Russia’s Lukoil announces important developments regarding its investments in Ghana and Cameroon
The Russian Lukoil company disclosed new developments regarding its investments in the oil and gas sector in West African countries, especially Ghana and Cameroon. And the company announced its readiness to submit the final plan for the development of the offshore Ghana field to the regulatory bodies in Ghana, in preparation for making the final…
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Aramco signs an agreement to establish the first global center for logistics services in Saudi Arabia
Saudi Aramco signed a new agreement with DHL, the global logistics services company, to establish the first global center for logistics services in the region, in the Kingdom. Today, Monday, March 20 (2023), the popular and integrated Saudi company in the field of energy and chemicals announced the signing of a shareholder agreement to establish…
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Mexican Pemex is preparing to get out of the debt crisis in 2023
The debts of the Mexican oil company “Pemex” constitute a heavy burden after the Ministry of Finance stopped paying them, since the second half of (2022), but this year may witness a breakthrough, in light of its benefit from the gains in oil prices. The company is studying the available options for how to pay,…
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French refineries are preparing for the eighth strike round on March 20
French refiners are preparing to take part in the eighth round of strike against the regulation to raise the retirement age, which has been criticized by all trade and professional unions in France. And 4 oil refineries out of 6 working in France announced their readiness to stop working on the day of the eighth…
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Suspicions about an oil deal in southern Sudan.. and British Glencore may be involved
Controversy arose about the parties involved in an oil deal in South Sudan recently, amid indirect accusations leveled at the British company Glencore, which was convicted of oil bribery in several countries, June last year (2022). The crisis began with the entry of the South Sudanese-based “Trinity Energy” company into a financing agreement with Afrexim…