all available information about oil wealth
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Crude oil prices are rising… and Brent is near $76 a barrel – (Update)
Crude oil prices rose for the first time in 3 consecutive sessions at the end of trading today, Monday, May 22, 2023, after a volatile session, amid fears of an economic recession that might limit demand. Caution about US debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from…
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Chevron supports US shale oil with a new acquisition deal
Chevron has announced the enhancement of its production of US shale oil with a new acquisition deal, which is the company’s second in 3 years. Today, Monday (May 22, 2023), the American oil company completed its acquisition of all shares of the “BDC Energy” company, which produces shale oil in the United States, in a…
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Crude oil prices are down 1%… and Brent is below $75 a barrel
Crude oil prices fell by more than 1%, during today’s trading, Monday, May 22, 2023, amid fears of an economic recession that may limit demand. Caution over US debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. Crude oil prices today By 06:55 a.m.…
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Will the largest deal in the history of the Iranian oil industry with Russia become a binding agreement? (article)
Read in this article These agreements are expected to enhance Iran’s energy infrastructure and production capabilities Persistent technological limitations and hurdles make it difficult to implement these ambitions Memorandums of understanding between Iran and Russia provide a platform for improved cooperation in oil exploration and production It is believed that the partnership between Russia and…
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Operation of the Iranian oil refinery on this date.. Will the fuel crisis be solved?
Tehran announced its intention to operate the new Iranian oil refinery by next year (2024), in light of a severe crisis hitting the country due to its inability to meet the growing demand for gasoline. The company responsible for building the “Mehre Al-Khaleej” refinery stated that it is scheduled to be launched with about 120,000…
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Crude oil prices are falling…and recording weekly gains – (Update)
Crude oil prices fell, at the end of trading today, Friday, May 19 (2023), but achieved the first weekly gain in 5 weeks. Crude prices had risen earlier in the day, as investors were cautiously optimistic about the fading risks of defaulting on US debt, but it seems that the results of the talks that…
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India plans to launch a dual tender for oilfields and offshore wind farms
Read in this article India is counting on offshore wind projects to boost the share of clean electricity in the energy mix Tendering for oilfields and offshore wind farms in India soon India plans to launch seabed leasing tenders for 37 GW wind farms by 2030 Attracting investments to the offshore wind sector is an…
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Libyan oil aims to increase production by 8% by the end of 2023
The Libyan oil sector continues its efforts to increase production in order to support the country’s financial resources, in a way that supports the recovery of the national economy, which faces many challenges. Libya aims to increase oil production by about 8%, by next December, a level that would raise production to the highest level…
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Crude oil prices rise 1%, and Brent is near $77 a barrel
Crude oil prices rose about 1%, during today’s trading, Friday, May 19 (2023), in an attempt to get rid of the losses incurred in the previous session. This comes as investors are cautiously optimistic about the fading risk of a US debt default, while watching the fate of the talks being conducted by Congress. Crude…
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Crude oil prices are down by more than 1%… and Brent is below $76 a barrel – (Update)
Crude oil prices fell by more than 1%, at the end of trading today, Thursday, May 18 (2023), amid fears of an economic recession that might affect demand. This comes as traders cautiously await signs of progress in talks to raise the US debt ceiling, which pushed the oil market higher in the previous session…