all available information about oil wealth
-
Saudi Aramco raises its official selling oil prices to Asia in May
Saudi Aramco announced the official prices for selling shipments of Arab Light crude to its customers in Asia, Europe and the United States, during the coming month of May (2023). The company decided to raise the official Saudi oil selling prices for Arab Light crude to Asia by 30 US cents to $2.80 per barrel,…
-
Disappointing results for Exxon Mobil in Brazil after 6 years of exploration
The American company Exxon Mobil failed to find oil in Brazil, after nearly 6 years of search and exploration operations. And the giant American oil and gas company stopped the current drilling in the offshore region, which it began to seize with partners for $ 4 billion in 2017, after failing for the third time…
-
Crude oil prices are marginally higher.. and Brent is above $85
Crude oil prices rose marginally during trading today, Wednesday, April 5 (2023), supported by expectations of a decline in US crude inventories, as well as the latest production cut targets set by the OPEC + alliance. The rise in prices for the fifth session in a row comes after the decision of 9 of the…
-
India abolishes exceptional taxes on oil as global prices fall
It seems that the recent decline in oil prices has prompted India to abandon the exceptional taxes imposed on crude producers, and has also made adjustments to taxes on some types of fuel. New Delhi had previously pledged to review the tax rate linked to fluctuations in oil prices in global markets, according to what…
-
Türkiye’s imports of Russian diesel rose to their highest levels in 7 years
Turkey’s imports of Russian diesel jumped during March 2023, taking advantage of the cheap prices offered by Moscow in the wake of European sanctions. Flows exceeded 10 million barrels in March, nearly 50% more than in February, enough to meet the country’s demand for at least two weeks, according to information seen by the specialized…
-
BP is preparing to develop the third phase of the huge Clair field in the North Sea
British oil company BP is preparing to enter the third phase of development of the massive Clair oil field in the North Sea, with the tightening of carbon capture requirements for the project. The British company is looking forward to making a decision to develop the third phase of the project, which bears the name…
-
Crude oil prices rise for the fourth session, and Brent is above $85
Crude oil prices rose during trading today, Tuesday, April 4 (2023), to continue to reap gains for the fourth consecutive session, supported by OPEC + moves aimed at stabilizing the markets. And 9 of the countries of the OPEC + coalition, led by Saudi Arabia, decided to make voluntary production cuts of 1.66 million barrels…
-
OAPEC Secretary General warns of new risks in the oil market
OAPEC Secretary General, Engineer Jamal Issa Al-Loughani, warned of new risks facing the global oil market, which is witnessing uncertainty after the re-introduction of the “No OPEC” bill. Today, Monday, April 3 (2023), the Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC) stated that some US senators are trying to put pressure on…
-
Nigerian oil exports are looking for buyers… 20 shipments suspended due to France’s strikes
Nigerian oil exports are still facing the repercussions of France’s two-month-old strikes against the regulation to raise the retirement age, without response from the French government. France’s strikes coincide with the seasonal maintenance season for refineries in most European countries, which contributed to increasing pressure on Nigeria’s oil exports, according to Bloomberg. Nigerian oil exports…
-
Stocks of international oil companies rise, supported by OPEC + cuts
Shares of major oil companies jumped during trading today, Monday, April 3, with the support of the voluntary production cuts announced by 9 OPEC+ countries, led by Saudi Arabia. The 9 countries announced voluntary cuts of more than 1.66 million barrels per day, starting next May, as a precautionary measure aimed at supporting the stability…