Tag: raises
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Colombia’s Ecopetrol raises workers’ wages for 4 years
Colombia’s Ecopetrol has struck an agreement with trade unions to raise workers’ salaries in the face of inflation, as well as to support communities near the company’s facilities. And the company stated – in a press release issued on Monday (May 22, 2023) – that it had reached a 4-year contract with 7 unions, which…
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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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Saudi Aramco raises its official selling oil prices to Asia in May
Saudi Aramco announced the official prices for selling shipments of Arab Light crude to its customers in Asia, Europe and the United States, during the coming month of May (2023). The company decided to raise the official Saudi oil selling prices for Arab Light crude to Asia by 30 US cents to $2.80 per barrel,…
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Kuwait raises the selling prices of oil to its customers in Asia during April
Kuwait raised the official selling price for its oil shipments for the month of April (2023) to its customers in Asia, following in the footsteps of Saudi Aramco. The KPC price document – which was seen by the specialized energy platform – for shipments for the month of April, showed that the price of a…
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Al-Zour refinery in Kuwait raises its capacity to 410,000 barrels per day
Today, Tuesday, March 7 (2023), Kuwait started operating the second phase of the Al-Zour refinery, raising its production capacity to 410,000 barrels. The CEO of the Kuwait Integrated Petroleum Industries Company (KIPIC), Walid Al-Badr, said that the refinery is one of the most important strategic national projects for the State of Kuwait. Kuwait is counting…
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Mixing gasoline with bioethanol in India raises environmental and food concerns
Read in this article • India is striving to reduce energy costs and meet climate commitments • The central government wants sugar mills to produce more ethanol from excess sugar cane • Ethanol produces 20-40% lower carbon dioxide emissions than conventional fuels • Intensive cultivation of sugar cane puts pressure on farmers and the environment…
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Qatar Energy raises the price of Al-Shaheen crude oil for April delivery
Qatar Energy Company intends to raise the official selling prices for Al-Shaheen crude for next April loading, after it recorded its lowest level in 21 months in March. Qatar is scheduled to increase the future price of Al-Shaheen crude in April by about $1.21, compared to next March shipments. Qatar Energy set the price of…
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Saudi Aramco raises the selling price of oil to Asia in March
Saudi Aramco announced the official selling prices for shipments of Arab Light crude to its customers in Asia, Europe and the United States, during the month of March of this year (2023). The company decided to raise the official selling prices for Arab Light crude to Asia by 20 US cents to $2 per barrel,…
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The Energy Information Administration raises oil price forecasts in 2023
The US Energy Information Administration raised its forecast for oil prices in 2023, and also strengthened its estimates for US crude production. And the Short-Term Energy Outlook report for February 2023 – issued today, Tuesday (February 7) – showed that the average price of West Texas Intermediate crude oil may reach $ 77.84 per barrel…