all available information about oil wealth
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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.…
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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…