all available information about oil wealth
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Crude oil prices are rising… and Brent is above $79 a barrel
Crude oil prices rose during trading today, Wednesday, March 29 (2023), for the third consecutive session, amid fears of supply shortages. This came with the cessation of some exports from Iraq after the decision of the International Tribunal in favor of Baghdad in its dispute with Ankara over the oil of the Kurdistan region. Crude…
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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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Expectations of a decrease in gasoline prices in Jordan for the month of April 2023
Gasoline prices in Jordan for the month of April 2023, to be announced next Friday, are expected to witness a limited decline. Expectations of a decline in fuel prices in Jordan come against the background of the significant drop in oil prices this month, which fell to their lowest levels in 15 months due to…
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Crude oil prices rise to the highest level in two weeks – (Update)
Crude oil prices rose, at the end of trading today, Tuesday, March 28 (2023), to record the highest level in two weeks, amid fears of a supply shortage. Crude prices had started their morning trading on a decline due to the focus on the developments of the banking crisis that affected several international banks, and…
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Tunisia settles the controversy over the discovery of huge oil and gas reserves off the coast of the country
Tunisia settled the controversy over the discovery of reservoirs containing huge reserves of oil and gas off the coast of the country near the Libyan border. A study issued by the American Survey indicated that there are huge reserves of oil and gas off the Tunisian coast, which revived the hopes of those looking for…
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Official: Russian oil exports are changing their path to friendly countries
It is no longer difficult for Russian oil exports, which have been affected by Western sanctions, to reach friendly countries, in the wake of Moscow’s circumvention of Western restrictions that restrict the Russian energy industry. Western governments clamped down on Russian energy supplies; With the aim of drying up the sources of its revenues, which…
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Crude oil prices are turning higher… and Brent is near $79 (update)
Crude oil prices turned higher today, Tuesday, March 28 (2023), to continue to reap gains for the second consecutive session, amid fears of a supply shortage. Crude prices had started their morning trading on a decline due to the focus on the developments of the banking crisis that affected several international banks, and the demand…
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Crude oil prices jump 5%.. Brent exceeds $78 – (Update)
Crude oil prices rose by more than 5%, at the end of trading today, Monday, March 27 (2023), with fears of a shortage of supply and signs of stability in the financial markets. Crude prices rose, after Turkey stopped Iraqi Kurdistan oil exports through pipelines, in implementation of a court ruling in favor of Baghdad.…
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Increasing oil and gas production in Iran, starting from 2024.. These investments are required
Oil and gas production in Iran is preparing for a domestic boom by next year (2024), including boosting the petrochemical sector as well, despite the continued US sanctions. The CEO of the National Iranian Oil Company “NEOC”, Mohsen Khojashmehr, said that increasing production requires a large amount of investments to complete the projects that have…
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The Sultanate of Oman’s production of oil and condensate exceeds one million barrels per day in February
The Sultanate of Oman’s production of crude oil and condensate exceeded the barrier of one million barrels per day, during last February. Recent data showed that the Sultanate of Oman’s production of crude oil and condensate, during the month of February, amounted to 29.7 million barrels, at a rate of 1.06 million barrels per day.…