all available information about oil wealth
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A recent report reveals its expectations for oil prices after the collapse of Silicon Valley
The US banking crisis cast a shadow over oil prices, following the collapse of the Silicon Valley bank, during the past few days. And with the worsening situation and increasing fears of an economic recession, crude prices fell during trading today, Wednesday, March 15 (at 07:00 pm Mecca time), by about 6%, and the price…
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Apicorp’s business results in 2022 witness a 40% jump in net income
Apicorp’s business results in 2022 (Arab Petroleum Investments Company) recorded strong financial results for the fiscal year ending on December 31 (2022), with comprehensive net income of $164 million. Today, Wednesday, March 15 (2023), the multilateral financial institution announced recording strong financial results, in light of its investment and strategic decisions during the past year,…
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Shell exits unoccupied stakes in Malaysia and prepares for a deal with Indonesia
Shell (one of the world’s largest oil and gas companies) has completed its exit from some non-operating stakes in Malaysia in parallel with its plans to complete another asset sale in Indonesia. The sale relates to two unoccupied blocks at the Bram Delta oil and gas project in Malaysia, according to the Energy Voice website.…
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Crude oil prices are down 1%… and Brent is below $77 (update)
Crude oil prices fell back by more than 1% today, Wednesday, March 15 (2023), to continue bleeding losses for the third consecutive session, with continued fears of an economic recession following the collapse of the US Silicon Valley Bank. Markets had some support in early trading today from OPEC’s strong outlook on Chinese demand, which…
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Kuwait reduces oil exports to Asia for Al-Zour refinery
Kuwait intends to reduce its crude oil exports to Asia, starting next April, in conjunction with its plans to expand the production of oil derivatives. The Kuwait Petroleum Corporation asked some Asian refineries to obtain a lower share of oil under their annual deals, according to what was seen by the specialized energy platform. The…
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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…