all available information about oil wealth
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Oil prices rise 2.5%.. Brent crude is above $75 – (Update)
Crude oil prices rose by about 2.5%, at the end of trading today, Tuesday, March 21 (2023), in an attempt to compensate for some losses after a week of banking unrest, which cast a shadow on the markets. Oil is seeking to recover from a 15-month low hit the day before, as the Credit Suisse…
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The Iranian petrochemical industry is courting investors in Europe and America
The Iranian petrochemical industry has achieved remarkable successes recently, as part of the country’s aspirations to develop the leading sector, increase global competition, and open new markets. In this context, the CEO of the National Iranian Petrochemical Industries Company, Morteza Shahmirzai, said that his country has a market for long-term investments. Shahmirzai added that the…
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Oil prices fall by more than 1%.. Brent crude is under $76 – (Update)
Oil prices fell by more than 1%, at the end of trading today, Thursday, March 23 (2023), after a volatile session, to record the first drop in 4 days. The strong US jobs data reflected bearish signals from Federal Reserve Chairman Jerome Powell, which highlighted risks to the banking sector and swelling US oil inventories.…
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Crude oil prices fall by more than 1% and record weekly gains – (Update)
Crude oil prices fell by more than 1%, at the end of trading today, Friday, March 24, 2023, for the second day in a row, amid expectations of a possible surplus in supply, but they are achieving weekly gains. This came after US Energy Secretary Jennifer Granholm said that refilling the country’s strategic oil reserves…
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Oil and gas projects in Africa attract $16 billion in bank financing
The pace of implementation of oil and gas projects in Africa is accelerating in light of the growing demand for the two vital commodities. This prompted the governments of the countries of the continent to raise investment spending related to exploration and excavation activities. Indeed, entities outside the fossil fuel industry have begun directing their…
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The strike of the largest French refineries was forcibly ended and deliveries of the seized fuel shipments began
French police forced the largest French refineries to hand over fuel shipments withheld and resume refining work, after weeks of continuous strikes in protest against a regulation to raise the retirement age in the country. And French Energy Minister Agnès Pannier-Ronachet announced the resumption of fuel shipments from the Gonverville refinery in the Normandy region…
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The International Monetary Fund is anticipating Pakistan’s fuel pricing proposal before signing
The International Monetary Fund is awaiting the new fuel pricing plan in Pakistan; As a prelude to signing a prospective loan agreement that may help the crisis-hit country solve part of its deteriorating monetary problems. Fund officials said that signing the agreement is contingent on settling some remaining conditions with the Pakistani government. Including the…
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Crude oil prices are falling… and Brent is below $76
Crude oil prices fell, during trading today, Friday, March 24, 2023, for the second day in a row, amid expectations of a possible surplus in supply. This came after US Energy Secretary Jennifer Granholm said that refilling the country’s strategic oil reserves could take several years. Despite the decline; Crude oil prices are heading for…
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A report reveals expectations for oil and mineral prices in 2023
There is no doubt that the recovery of the Chinese economy from the repercussions of the Corona epidemic will provide a strong impetus to global oil and mineral prices in 2023, after the turmoil left by the Russian invasion of Ukraine last year (2022). Research firm Wood Mackenzie believes – in a report issued Thursday,…
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Oil prices are falling… and Brent crude is near $76
Oil prices fell, during today’s trading, Thursday, March 23, 2023, after 3 sessions of gains. This comes after Federal Reserve Chairman Jerome Powell highlighted the credit risks in the banking sector of the largest economy in the world, in conjunction with the rise in US oil stocks more than expected. The US Federal Reserve decided…