Tag: Energy
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OPEC warns of the fallacies of the Energy Agency and responds to the truth of its position on oil prices
The Organization of Petroleum Exporting Countries (OPEC) renewed its warnings about the impact of declining investment in the hydrocarbon sector on global energy security. Haitham Al-Ghais, Secretary-General of the Organization, said today, Thursday, that the International Energy Agency should “exercise extreme caution about further attempts to undermine investments in the oil industry.” The Secretary General…
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Savannah Energy and ExxonMobil cause a diplomatic crisis between Chad and Cameroon
The British company Savannah Energy and the American Exxon Mobil caused a diplomatic crisis between Chad and Cameroon, due to a controversial acquisition deal between the companies and officials of the two countries. And the Chadian government announced the recall of its ambassador to Cameroon, claiming that officials from the neighboring country interfered in its…
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The Energy Information Administration raises oil price forecasts in 2023 and 2024
The US Energy Information Administration raised its forecast for oil prices in 2023 and 2024, and also strengthened its estimates for US crude production. And the Short-Term Energy Outlook report for April 2023 – issued today, Tuesday (April 11), showed that the average price of West Texas Intermediate crude oil may reach $ 79.24 a…
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Qatar Energy raises the selling price of Al-Shaheen crude for June delivery
Qatar Energy Company intends to raise the official selling prices for Al-Shaheen crude, loading next June, after their decline in next May. Qatar is scheduled to raise the future price of Al-Shaheen crude in June by about $0.36 compared to next May shipments, according to data seen by the specialized energy platform. Qatar Energy Company…
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Energy expert: Oil prices will continue in the range of 80 and 86 dollars for a long time
The sudden announcement of a number of OPEC+ countries to cut production led to a rise in oil prices by about 8%, as it jumped above $85, before witnessing a slight decline. Christoph Rohl, senior researcher at the Center for Global Energy Policy at Columbia University, said – in statements to the specialized energy platform…
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PetroChina’s profits jump 62% thanks to the rise in energy prices in 2022
Chinese PetroChina’s profits recorded a record high in 2022, benefiting from the jump in global energy prices in the wake of the Russian invasion of Ukraine, as well as the increase in oil and gas production in response to Beijing’s call to avoid any new energy crisis. The company announced net income of 149 billion…
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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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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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Does the Saudi-Iranian agreement support cooperation in the field of energy? (article)
Read in this article • Saudi Arabia plans to invest in Iran’s energy infrastructure • Iran relies heavily on oil and gas as a primary source of income • Investment in Iran can happen quickly when diplomatic relations between the two countries are normalized • Saudi Arabia does not wish to enter into a conflict…
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Qatar Energy reduces the selling price of Al-Shaheen crude for May delivery
Qatar Energy Company intends to reduce the official selling prices for Al-Shaheen crude for next May loading, after its rise in next April. Qatar is scheduled to reduce the future price of Al-Shaheen crude in May by about $0.57, compared to next April shipments. Al-Shaheen crude prices recorded their lowest levels in 21 months this…