all available information about oil wealth
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An expected decline in Saudi oil prices to Asia..Is Russian crude dangerous?
It seems that the competition in the Asian markets will become more difficult, with the spread of news that Saudi oil prices may witness a decline in Asia during the month of March next. Saudi Arabia (the largest oil exporter in the world) may resort to lowering the prices of crude grades to Asia for…
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Mafraq field in the Sultanate of Oman wins a joint operating agreement
The Swedish company Maha Energy announced the signing of a joint operating agreement for Block 70 – which includes the Mafraq oil field – in the Sultanate of Oman, more than a month after the Omani authorities approved the deal. Maha Energy – through its wholly owned subsidiary Maha Energy Oman – concluded the agreement…
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Indonesia’s oil and gas sector is preparing to put up 10 offshore blocks, some of which may excite China
The oil and gas sector in Indonesia is preparing for a recovery in the coming years, amid government plans to launch new offshore blocks, but some of them may raise the sensitivity of China, with which it disputes over the South China Sea. The Indonesian Ministry of Energy is considering offering 10 offshore blocks for…
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Fuel prices in France are nearing a new record high
Fuel prices in France have continued to rise since the beginning of this year (2023), after the end of the discounts offered by the government and Total Energy, amid fears of the repercussions of the labor union strike again on January 31. The data – provided by the French government today, Monday, January 30, and…
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A new escalation threatens to stop Libyan oil production
The Italian Eni deal threatens to return the Libyan oil sector to the square it has suffered from for years due to the closure of ports and fields in light of the lack of political consensus in the country. A state of confusion and skepticism has not stopped since the head of the National Oil…
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An Egyptian company plans to drill 11 wells for oil and gas exploration
The Egyptian Gulf of Suez Petroleum Company “GUPCO” is preparing to start drilling 11 wells for oil and gas exploration, to increase Egypt’s hydrocarbon reserves. Today, Monday, January 30 (2023), Egyptian Minister of Petroleum Tariq El-Molla said, during the approval of the company’s planning budget for the fiscal year (2023-2024), that there is importance to…
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The global price of a barrel of oil has declined… and Brent crude is under $87
Today, Monday, January 30, 2023, the price of a barrel of oil declined globally, giving up its gains at the beginning of trading. Imminent interest rate hikes by major central banks and signs of stronger Russian exports offset rising tensions in the Middle East over a drone attack in Iran and hopes of a boost…
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The Egyptian Minister of Petroleum reveals the results of border demarcation with Saudi Arabia
The Egyptian Minister of Petroleum, Tariq Al-Mulla, revealed the positive results that accrued to his country after the decision to demarcate the maritime borders with Saudi Arabia. He said that the demarcation of the border with Saudi Arabia enabled the Egyptian oil sector to operate in the pristine Red Sea region. In 2016, Egypt and…
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Announcing the date of oil and gas exploration in Lebanon (update)
Oil and gas exploration work in Lebanon, which witnessed the signing of a new agreement today, Sunday, January 29 (2023), is preparing to start within a few days. The CEO of the French company Total Energy, Patrick Pouyanné, said that his company is keen to start work on offshore block 9 as soon as possible,…
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The oil and gas sector in Canada needs to be inspired by the experience of Saudi Arabia and Qatar (article)
Read in this article Qatar has grown its GDP 10 times in just 20 years Western government officials often talk about “just transitions,” emissions caps, and the end of oil Middle East ministers talk about energy diversification and circular carbon economics Like Canada, Qatar and Saudi Arabia want to develop their economies and improve the…