all available information about oil wealth
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A report expects oil prices to rise to $105.. When will this happen?
Oil prices witnessed another decline over the past weeks, as they are currently trading below $75 per barrel. This came in the wake of the recent rise that pushed Brent crude prices above $85 a barrel, following the sudden voluntary production cuts announced by members of the OPEC+ alliance in early April 2023, which will…
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The increase in the operation of new Russian oil wells in the first quarter of 2023
The operation of new Russian oil wells witnessed a noticeable increase in the first quarter of 2023, despite the voluntary reduction in production announced by Moscow until the end of the year. Russian oil companies began operating 2,001 new oil wells in the first three months of the year, up 10 percent on an annual…
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Conflicting news about an expected setback for Russian oil and coal importers in India
Today, Thursday, May 4 (2023), it was reported that negotiations between Moscow and New Delhi on a bilateral trade settlement in Indian rupees are on hold, which constitutes a major setback for Russian oil and coal importers, but Russian officials quickly dispelled these allegations. They denied the allegations of suspending the rupee trade talks, describing…
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Fuel prices in Egypt… 3 reasons prompted the government to increase “diesel”
Starting today, Thursday, May 4 (2023), fuel prices in Egypt witnessed a new increase in the price of “diesel” fuel, with the prices of gasoline and other oil derivatives being fixed. The increase in diesel prices in Egypt, which was approved late yesterday evening, Wednesday, May 3, came about two months after the largest increase…
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OAPEC Secretary General: 6 Arab countries have oil refineries that produce high-quality derivatives
OAPEC Secretary General Jamal Al-Loughani revealed a number of challenges facing the oil refining industry, in light of international efforts to reduce emissions in order to achieve carbon neutrality. In an article entitled “The Oil Refining Industry and Energy Transformation Initiatives,” Al-Lougati stressed that the decline in investments in hydrocarbon projects will have a serious…
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“Energy” re-publishes the oil price forecasts of 10 experts. The vision will be achieved after 4 months
In light of the worsening economic conditions, geopolitical events, and features of oil demand at the end of 2022, forecasting and analyzing oil prices for the year 2023 was a daunting task for analysts and experts. This is due to the difficult scene in the oil markets, as economic crises, recession fears, and challenges facing…
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Fuel prices in Sudan unchanged in May (exclusive)
It seems that the fuel prices in Sudan for the month of May 2023 will not differ from the prices of last April, with the continuation of the clashes that disrupt the work of some sectors. Sources at the Ministry of Energy and Oil in Khartoum said, in exclusive statements to the specialized energy platform,…
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Crude oil prices extend their losses by 3%.. and Brent is near $73 (update)
Crude oil prices extended their losses to about 3% during trading today, Wednesday, May 3 (2023), to continue bleeding losses for the third consecutive session. This comes amid investors’ concern about a global recession, with the Federal Reserve expected to raise interest rates later in the day. Crude oil prices closed the previous session at…
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Iraqi oil export revenues jump by more than $390 million in April
Iraqi oil export revenues increased by about $392 million during the month of April (2023), compared to the previous month, March. Today, Tuesday, May 2 (2023), the Iraqi Ministry of Oil issued preliminary statistics on the quantities of oil that were exported from the country, and the revenues achieved during the month of April, according…
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Nigeria’s Port Harcourt refinery is being let down by an Italian company and delaying operation
The Nigerian Port Harcourt refinery is about to postpone the date of restarting the first phase for a period of months, due to the delay in the Italian company in charge of the rehabilitation project. The first phase of the Nigerian oil refinery rehabilitation project was scheduled to open in April 2023, but the Italian…