all available information about oil wealth
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Russian oil derivatives are witnessing an agreement on the ceiling of their prices
The countries of the European Union, the Group of 7, and Australia agreed on the new price ceiling for Russian oil derivatives, which is scheduled to enter into force starting tomorrow, Sunday, February 5 (2023). And the countries, which met on Friday night, February 3, announced that they had reached an agreement on a new…
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The global price of a barrel of oil falls 3% and records strong weekly losses – (update)
The price of a barrel of oil fell globally by more than 3% at the end of trading today, Friday, February 3 (2023), after strong job data in the United States, to record weekly losses for the second time in a row. US jobs data, which came in better than expected, raised concerns that the…
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Russia is considering adopting Brent crude prices instead of Urals in accounting for oil companies
Russia is currently studying the adoption of Brent crude prices in the tax accounting of oil-producing companies, in an attempt to compensate for part of the losses incurred due to the European and American sanctions imposed on Russian oil. The Russian government is moving to adopt a new system in imposing taxes on oil producers…
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The global price of a barrel of oil rises 2%… and Brent crude is above $83 (update)
The price of a barrel of oil rose globally by about 2% during trading today, Friday, February 3 (2023), after strong job data in the United States, but it is heading to record weekly losses for the second time in a row. Investors are seeking more clarity on the impending European ban on Russian refined…
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Azerbaijani gas is a haven for Romania to dispense with Russian supplies
Romania signed an agreement to obtain supplies of Azerbaijani gas in order to secure its fuel needs in light of the efforts of European countries to dispense with Russian supplies. The agreement, which was signed by the Azerbaijani oil company SOCAR and the Romanian company Romgaz, includes the transfer of one billion cubic meters of…
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Mauritania grants Total Energy the rights to explore for oil and gas in the coastal basin
Mauritania granted Total Energy the rights to explore for oil and gas in block C15 in the coastal basin, as part of its strategy to develop its hydrocarbon resources. The Ministry of Petroleum, Minerals and Energy said that the Council of Ministers approved, during its meeting yesterday, Thursday, in the city of Rosso, a draft…
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The global price of a barrel of oil has fallen… and Brent crude is below $83 – (Update)
The price of a barrel of oil decreased globally at the end of trading today, Thursday, February 2 (2023), with the rise of the US dollar. Oil prices had risen earlier in the trading, as the OPEC + decision to extend production cuts helped calm fears of oversupply. The global price of a barrel of…
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The global price of a barrel of oil has risen… and Brent crude is above $83
The price of a barrel of oil rose globally, during today’s trading, Thursday, February 2 (2023), trying to compensate for the losses it suffered during the previous session. The decline in the US dollar restored some appetite for risky assets, and the OPEC + decision to extend production cuts helped calm oversupply fears. The global…
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US ConocoPhillips profits exceed $ 18 billion in 2022
US company ConocoPhillips posted record profits in 2022 of $18.7 billion, or $14.57 per share, benefiting from higher prices in the wake of Russia’s invasion of Ukraine. Last year’s profits compare to $8.1 billion, or $6.07 per share, the company achieved in 2021, according to a press release seen by the specialized energy platform. The…
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ADNOC supports “Make in the UAE” with 23 agreements, with investments of $4.6 billion
The Abu Dhabi National Oil Company (ADNOC) has signed agreements with 23 companies, with investments amounting to 17 billion dirhams ($4.63 billion) as part of its strategy to support local manufacturing in the UAE. The agreements signed with a number of local and international companies come as part of investments worth AED 70 billion ($19…