all available information about oil wealth
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The Safer reservoir crisis off the coast of Yemen is approaching a solution under the auspices of the United Nations
The Safer tanker crisis off the coast of Yemen is approaching writing the end chapter, in conjunction with the conclusion of the United Nations agreement to purchase a giant oil tanker for use in storing oil. The rickety reservoir, which has been stranded since 2015 and is moored off the port of Ras Isa on…
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Russian oil reduces temptations to China and India amid fierce competition for Espoo crude (report)
Russian companies tended to reduce offers of generous Russian oil discounts offered to China and India, the largest Asian and global economies, amid fierce competition for demand over the past months. Private Indian refineries are competing with their Chinese counterparts for future purchase contracts for Russian Espoo crude for delivery in April (2023), according to…
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The Gulf chemical industry between signs of regional recovery and global instability (Article)
With economists still predicting a slowdown and recession in some regions of the world, including the United States and Europe, the Middle East and North Africa region is one of the few regions in the world that is expected to witness moderate to strong growth. These prospects should enhance the confidence of regional investors and…
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The salary of the former Shell president in 2022 will exceed $ 11 million
The former Shell boss’s salary in 2022 once again highlighted record oil companies’ profits in 2022, benefiting from higher energy prices in the wake of Russia’s invasion of Ukraine. And the company revealed – in its annual report, which was reviewed by the specialized energy platform – that former CEO Ben van Burden received a…
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Oil and gas exploration in Egypt is actively boosted by 6 international companies
The oil and gas exploration sector in Egypt witnessed intense activity today, Thursday, March 9, during the participation of Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla, in the Cerawick International Energy Conference in Houston, USA. On the sidelines of the conference, Al-Mulla held meetings with leaders of 6 international oil and gas companies…
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Bangladesh resumes red diesel imports from India after a 3-year hiatus
Bangladesh has resumed red diesel imports from India after a 3-year hiatus, as part of a deal signed between Bangladesh Petroleum and Indian Oil. Bangladesh Petroleum received the first shipment of the total deal, which provides for the supply of about 333,000 metric tons of red diesel (a low grade of diesel) with a sulfur…
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Saudi Aramco lays the foundation stone for the largest petrochemical project in South Korea (photos)
Saudi Aramco laid the foundation stone for the largest petrochemical project in South Korea, with investments amounting to $7 billion. Korean President Won Seok Yul participated in the laying ceremony of the foundation stone for the Shaheen project, which is being implemented by S-Oil, a subsidiary of the Saudi oil giant. Saudi Aramco announced the…
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Crude oil prices are marginally declining… and Brent is below $83
Crude oil prices declined marginally, today, Thursday, March 9 (2023), for the third consecutive session, amid fears of an economic recession that threatens demand. The markets started the morning trading on the upside, supported by the larger-than-expected drawdown in US oil inventories and hopes on demand in China. Market conditions were dominated by fears that…
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Crude oil prices fall by more than 1%.. and Brent is below $83 – (Update)
Crude oil prices fell by more than 1% at the end of trading today, Wednesday, March 8 (2023), for the second session in a row, amid fears of an economic recession that may affect demand. This comes at a time when data from the Energy Information Administration showed an unexpected drop in US crude oil…
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A new American escalation of OPEC bargaining… The controversial law rears its head again
US attempts have re-escalated its position rejecting the policies of the Organization of the Petroleum Exporting Countries (OPEC), by presenting the bill known as “No OPEC” in the Senate Judiciary Committee. In this context, a group of members of the Senate Judiciary Committee from both parties decided to reintroduce the legislation, today, Wednesday, March 8…