all available information about oil wealth
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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…
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UAE ENOC announces a 5-pronged strategy for leadership in the sustainable energy sector
Today, Thursday, March 23 (2023), the Emirates National Oil Company (ENOC) revealed a 5-pronged strategy to raise the group to the forefront of providing the best global solutions in the sustainable and integrated energy sector. The company’s long-term strategy for growth, in order to meet the growing demand for reliable, safe and sustainable energy locally…
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Oil prices rise 2%.. Brent crude is near $77 – (Update)
Crude oil prices rose by about 2%, at the end of trading today, Wednesday, March 22 (2023), with the decline of the US dollar. US oil inventories rose over the past week, contrary to analysts’ expectations, limiting price gains. The US Federal Reserve decided to raise interest rates by 25 basis points, for the ninth…
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He went to invest the gas fields in Iraq to support the power stations
As part of the ongoing efforts to solve the electricity crisis, the gas fields in Iraq are witnessing a government tendency to invest in them and support the continuity of their work. In joint statements, Iraqi Oil Minister Hayan Abdul-Ghani and Electricity Minister Ziyad Ali Fadel confirmed today, Wednesday, March 22, 2023, the directives of…
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Crude oil prices are falling… and Brent is below $75
Crude oil prices fell in Asian trading this morning, Wednesday, March 22 (2023), to trim their gains for two consecutive days. The decline came after an industrial report showed that US oil inventories rose unexpectedly last week, indicating the possibility of weak demand for fuel. Crude oil prices were, amid expectations of a breakthrough in…
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International Hedge Fund: Oil prices will reach $140
Andurand Capital hedge fund manager Pierre Andurand expected oil prices to reach $140 a barrel by the end of this year (2023). As Andurand indicated – during his participation in the “Financial Times Commodities” global conference in Switzerland – that the recent decline in oil prices due to banking tension is nothing but speculation. However,…