all available information about oil wealth
-
Crude oil prices rise 1%, and Brent is near $78 a barrel
Crude oil prices rose by more than 1%, during trading today, Wednesday, May 24 (2023), to continue to reap gains for the third consecutive session, amid fears of a supply shortage. This comes after the decline in US oil stocks and fuel supplies, and Saudi Energy Minister Prince Abdulaziz bin Salman warned speculators of the…
-
Iraq is trying to revive oil pipelines with 3 Arab countries, led by Saudi Arabia
Iraq is working to revive oil pipelines with Saudi Arabia, Jordan and Syria, after stopping the flow through Turkey led to a decline in Baghdad’s exports by about 500,000 barrels per day. Baghdad is seeking to find permanent and alternative outlets for its oil exports, amid plans to increase production to 8 million barrels per…
-
Mafraq field in the Sultanate of Oman shows promising results in preparation for the start of production
Read in this article Positive results regarding oil production from the Mafraq field in the Sultanate of Oman High world oil prices support Oman’s oil revenues Maha Energy of Sweden announces the results of oil field tests in Block 70 in the Sultanate of Oman Maha Energy reduced its share in Block 70, after its…
-
Crude oil prices rise by more than 1% … and Brent is near $ 77 a barrel – (update)
Crude oil prices rose by more than 1%, at the close of trading today, Tuesday, May 23 (2023), for the second day in a row, supported by investor expectations of market restraint, in light of the seasonal increase in demand for gasoline. Investors also expected supply cuts by some OPEC+ producers, who announced a voluntary…
-
Colombia’s Ecopetrol raises workers’ wages for 4 years
Colombia’s Ecopetrol has struck an agreement with trade unions to raise workers’ salaries in the face of inflation, as well as to support communities near the company’s facilities. And the company stated – in a press release issued on Monday (May 22, 2023) – that it had reached a 4-year contract with 7 unions, which…
-
UAE oil exports to Europe may triple in July
UAE oil exports to Europe have begun to witness an increase in the recent period, with the decline in supplies from Russia, amid the efforts of the countries of the old continent to diversify their imports. A number of experts expected that oil exports from the UAE to Europe would increase in the coming months,…
-
Qatar Energy is interested in competing for new oil and gas licenses in Iraq
Qatar Energy Company has shown interest in entering the new round of oil and gas licenses launched by Iraq recently, which includes several blocks with promising reserves. Iraqi Oil Minister Hayan Abdul Ghani said that Qatar is interested in participating in the two rounds of oil and gas licensing in Iraq, according to the data…
-
The Egyptian Minister of Petroleum reveals his country’s plans to stop importing diesel and gasoline
Egyptian Minister of Petroleum Tarek El-Molla revealed that his country has implemented an integrated plan to stop importing diesel fuel and gasoline, and to achieve self-sufficiency. He pointed out, during his inspection of projects to increase the production capacity of diesel and local manufacturing capabilities in Assiut Governorate, that the Egyptian oil sector is implementing…
-
Gasoline prices in Syria rise by 20% for the second time in 2023
Gasoline prices in Syria recorded an increase of more than 20% at gas stations today, Tuesday, May 23 (2023), which is the second increase during the current year. Late yesterday evening, Monday, May 22, the Syrian government announced a move in the prices of gasoline and domestic gas by rates ranging between 20 and 30…
-
Official: India’s imports of Russian oil are increasing for these reasons
India’s imports of Russian oil have been rising month-on-month, since shipments from Moscow have replaced crudes from the Middle East and Africa. India’s national oil company “Indian Oil” – the country’s largest refiner in terms of production capacity – confirmed its commitment to long-term contracts with the Middle East, but spot purchases from the region…