all available information about oil wealth
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Offering 7 investment opportunities in the oil refining sector in Iraq
Today, Wednesday, March 15 (2023), Baghdad announced the launch of 7 investment opportunities in the oil refining sector in Iraq. The announcement of investment opportunities comes within the framework of the government’s plans to increase refining capacity, for the benefit of the country, and to secure its needs of oil derivatives, which cost the country’s…
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Oil storage in Fujairah records record levels with the flow of Russian barrels
The demand for oil storage in Fujairah increased, in conjunction with the change in the movement of crude trade after Western sanctions against Moscow, which diverted the path of Russian barrels towards the Middle East and Asia. It is expected that the demand for oil storage and transit volumes in the port of Fujairah –…
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Oil analysis after the collapse of the Silicon Valley bank.. Will OPEC + interfere?
Oil analysis shows that the collapse of the Silicon Valley bank left fears in global markets that prices would be affected by the crisis, which could prompt the OPEC + coalition to intervene. These fears, supported by the decline in crude oil prices for two consecutive days, pushed Brent crude to less than $79 a…
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Saudi Arabia threatens not to export oil…and decisive statements regarding “No to OPEC”
Saudi Arabia threatened to stop oil exports if a price cap was imposed on its supplies to global markets, but it limited that to countries that adopt such a decision. The Saudi threat came from the words of the Minister of Energy, Prince Abdulaziz bin Salman, in response to a question by “Energy Intelligence” about…
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Blacklisted oil tankers transporting fuel from Venezuela to Cuba
Venezuela is trying hard to help its beleaguered Latin neighbor, Cuba, by transporting large amounts of fuel on board oil tankers on the US blacklist, which could expose it to potential legal problems. Maritime documents showed that the state oil company, Petroleos de Venezuela, had transported Venezuelan crude and some fuel derivatives to Cuba on…
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Crude oil prices are falling for the second day, and Brent is below $80 a barrel
Crude oil prices continued to decline, today, Tuesday, March 14 (2023), for the second day in a row, as Brent crude fell by 1%, after declining at the close of trading yesterday, Monday, by more than 2.5%, after announcing the collapse of the “Silicon Valley” bank. American. The collapse of the “Silicon Valley” Bank left…
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The collapse of Silicon Valley puts pressure on oil prices.. Will they drop to $50?
It seems that the events surrounding Silicon Valley Bank are moving at a rapid pace, and their impact was evident on oil prices during today’s trading, Monday, March 13 (2023). The California-based firm grew to number 16 in the United States, catering to technology companies around the world before a series of failed investment decisions…
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Saudi Aramco leaders reveal the secret of the historic jump in the company’s results in 2022
Over the past year (2022), Saudi Aramco was able to achieve important results, which the company’s leaders see as a giant turning point in the oil giant’s career. Aramco’s leaders revealed, in messages carried by its sustainability report, the company’s significant contribution in new sectors, with the aim of achieving a comprehensive, stable and deep…
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Malaysian Petronas profits will double by 100% in 2022
Malaysian Petronas profits witnessed a strong jump in 2022, benefiting from the rise in energy prices in the wake of the Russian invasion of Ukraine. Profits doubled 100% to RM101.6 billion ($22.59 billion), up from RM50.9 billion ($11.32 billion) in 2021. Revenues also increased by 51% to reach 375.3 billion ringgit ($83.46 billion), according to…
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Crude oil prices are down 1%.. and Brent is under $82 (update)
Crude oil prices fell by more than 1% during trading today, Monday, March 13 (2023), amid fears of a global recession. The oil markets had climbed to the green zone earlier in today’s session, supported by the recovery of Chinese demand, but the collapse of the Silicon Valley bank raised fears of a new financial…