all available information about oil wealth
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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…
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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…