all available information about oil wealth
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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…
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Crude oil prices rise by more than 1%, recording weekly gains – (Update)
Crude oil prices rose by more than 1%, at the close of trading today, Friday, May 26, 2023, in light of the uncertainty about demand and the possibility of OPEC + heading to cut production. Conflicting messages from major OPEC+ producers regarding upcoming moves in oil policy in recent days have made it difficult to…
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A slight rise in crude oil prices… and Brent near $77 a barrel
Crude oil prices witnessed a slight increase, today, Friday, May 26, 2023, in light of the uncertainty about demand and the possibility of OPEC + heading to cut production. Conflicting messages from major OPEC+ producers regarding upcoming moves in oil policy in recent days have made it difficult to predict the outcome of the next…
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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…
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Holding the first oil and gas tenders in America after delays that lasted nearly a year
Yesterday, Thursday, May 25 (2023), the first tenders for the sale of oil and gas exploration concessions in America were held, after delays of nearly 11 months, generating nearly $80 million for federal coffers. It is the second auction of its kind to be held in New Mexico – the second largest oil-producing state in…
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Iraqi Oil Minister invites Aramco to participate in the development of the Crutch field (Update)
Iraqi Oil Minister Hayan Abdul Ghani invited Saudi companies, led by Saudi Aramco, to participate in the development of the Crutch field. On Thursday, May 25 (2023), the ministry published a statement explaining that the discussions with the Saudi Ministry of Energy included inviting Saudi companies to invest in the oil and gas sector. The…
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Novak expects oil prices to exceed $80 per barrel and talks about the OPEC+ meeting
Russian Deputy Prime Minister Alexander Novak expected oil prices to exceed $80 a barrel by the end of this year (2023). He said that the current Brent crude prices, which range between 75 and 76 dollars per barrel, reflect the market’s assessment of the global macroeconomic situation, according to the data reviewed by the specialized…
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Gasoline prices in America are down 26% before the Memorial Day holiday
Gasoline prices in America continue to decline year-on-year, as global crude oil prices continue to decline, amid economic uncertainty and oversupply. A report issued by the US Energy Information Administration, today, Thursday, May 25, 2023, showed that the average retail price of regular gasoline – adjusted for inflation – in the United States was $…
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Europe gets rid of the shackles of Russian diesel… a prominent role for Saudi Arabia
It seems that Europe’s crisis to find alternatives to Russian diesel has ended, with the entry of new countries into the line of vital supplies for the main sectors. Diesel exports to Europe from countries other than Russia recorded a remarkable rise, and total shipments to the old continent of diesel and red diesel are…
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Oil production in Guyana generates $6 billion in gains for the ExxonMobil alliance
The ExxonMobil-led consortium generated US$5.8 billion in profits in 2022 from oil production in Guyana. The disclosure of the profits of the alliance – which includes Exxon Mobil, Hess and Sinooc – came in light of the legal dispute over the breach of insurance obligations against oil spill risks. It is also the first disclosure…