all available information about oil wealth
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Iraqi Kurdistan’s oil is stacked in storage tanks after exports through Turkey stopped
Iraqi Kurdistan’s oil faces an unknown fate after Turkey halted pipeline exports, implementing a court ruling in Baghdad’s favor that ended a nearly 9-year-long case. Companies operating in the Kurdistan region of Iraq have been forced to transfer oil to storage tanks, which have limited capacity, pending the outcome of the ongoing discussions between Ankara,…
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Crude oil prices are rising… and Brent is above $75
Crude oil prices rose, during today’s trading, Monday, March 27 (2023); Investors seek signs of stability in the financial markets. Prices were also supported by comments from Russian President Vladimir Putin over the weekend; This exacerbated geopolitical tensions in Europe, which raised fears of a supply shortage. Crude oil prices today By 07:57 a.m. GMT…
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Do new deals support Saudi Aramco shares in the upcoming sessions?
Saudi Aramco’s stock recorded a marginal decline – the first in 7 consecutive sessions – during trading today, Monday, on the Saudi Stock Exchange. The decline came despite Aramco announcing huge deals to increase its investments in the refining and petrochemical sector in China, the world’s largest oil importer. During the past 24 hours, Saudi…
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Revenues from Saudi oil exports decreased by 370 million dollars in January
Saudi oil export revenues decreased, during last January, on an annual basis, with the decline in oil prices compared to the same period in 2021. Official data – seen by the specialized energy platform – showed a decline in Saudi oil revenues in January, by approximately 1.7%, compared to the same period in 2022. The…
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Saudi Aramco announces a huge acquisition deal to boost its presence in China
Saudi Aramco has strengthened its presence in the refining and petrochemical sector in China through a huge acquisition deal. Aramco (one of the world’s leading integrated companies in the field of energy and petrochemicals) has signed definitive agreements to acquire a 10% stake in Rongsheng Petrochemical Company Limited, which is listed on the Shenzhen Stock…
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Crisis in the oil and gas sector in Iran within months (article)
Read in this article • Iran has traditionally relied on oil and gas to meet most of its energy needs • There is an increasing demand for renewable energy sources, such as solar energy and wind energy • Iran’s over-reliance on oil and gas exports is a major concern • The government needs to develop…
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25 million barrels of Nigerian oil are looking for buyers…and these are the most prominent alternatives
Nigerian oil sales fell in March, due to strikes at French refineries, as well as seasonal maintenance elsewhere in Europe. Between 20 and 25 shipments of Nigerian oil for loading in April are still looking for buyers, and each shipment amounts to about 1 million barrels of crude oil, according to information seen by the…
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A new report reveals expectations for oil prices until 2024
Goldman Sachs cut oil price expectations, whether during the next 12 months, or until the end of 2024, despite the recovery in Chinese demand for crude in the wake of the recovery from the repercussions of the Corona pandemic. It seems that the increase in Chinese demand had less impact on the expectations of crude…
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Offshore wind power in Scotland powers oil and gas platforms in the North Sea
Offshore wind energy in Scotland entered the oil and gas sector for the first time in the world, through a lease round in which reputable international energy companies competed in the sector. Crown e-State Scotland announced the selection of 13 bids out of 19 submitted bids to lease the seabed for the construction of wind…
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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…