all available information about oil wealth
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US ConocoPhillips is trying to recover its debt to Venezuela with an oil sale deal
The US company ConocoPhillips is seeking to settle the Venezuelan oil sale agreement in its favor, in an attempt to recover its dues from the South American country. The agreement, if completed, allows the American company to take over the task of transporting Venezuelan crude and selling it in the United States, according to what…
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Two agreements to share oil production at two promising sites in Uganda
Oil production projects in Uganda are in full swing, as part of the relentless efforts made by the government in the East African country. In order to enhance the productivity of the sector to keep pace with domestic demand, and to achieve a surplus for export. In light of these efforts, Kampala gave the green…
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The oil and gas sector in Algeria is awaiting the pumping of $40 billion in investments to increase production
The oil and gas sector in Algeria is expected to pump $40 billion over the next 5 years, as part of a strategic plan aimed at increasing production to secure growing domestic demand and increase exports. In this context, the Algerian Minister of Energy and Mines, Mohamed Arkab, said that his country is planning a…
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The global price of a barrel of oil has risen… and Brent crude is above $80 – (Update)
The price of a barrel of oil rose globally at the end of trading today, Tuesday, January 10 (2023), after a volatile session, as hopes of increased demand from China overshadowed fears of an economic recession. This comes with expectations that further increases in interest rates in the United States (the world’s largest oil consumer)…
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OPEC+ oil production rises by 140,000 barrels per day in December (survey)
The production of the OPEC + coalition of crude oil increased by 140 thousand barrels per day in December of the past year (2022), to record 42.71 million barrels per day, with increased production from Saudi Arabia and Nigeria in particular. The 13 members of the Organization of the Petroleum Exporting Countries pumped about 28.98…
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Gasoline prices in Sudan are recording a noticeable decline… and diesel prices are on the rise
Gasoline prices fell in Sudan during January, coinciding with the decline in average global oil prices. Gas stations in the capital, Khartoum, and all Sudanese states, in the early hours of this morning, Thursday, January 12, 2023, raised on their billboards the new fuel prices, which witnessed a significant decline in the price of gasoline…
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Oil and gas exploration in Norway rebounds with 47 new licenses
Oil and gas exploration continues in Norway, through huge deals announced by the state, granting exploration companies 47 new licenses recently, as part of its interest in this vital sector. Far Energy, a subsidiary of the Italian company Eni, has obtained 12 new exploration licenses in Norway, of which it will operate 5, reinforcing its…
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A company affiliated with the army is at the forefront.. Egypt is close to selling shares in fuel companies
Egypt has placed a number of fuel companies, including the “Wataniya” fuel company affiliated with the military, at the forefront of the companies whose stakes are to be sold in the coming months. In this context, the Sovereign Fund of Egypt included 5 companies in the Pre-IPO Fund, in preparation for selling stakes ranging between…
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China’s Sinooc reveals production and capital spending plans for 2023
The Chinese company Sinooc announced its strategy for 2023 on Wednesday, January 11 (2023), through which it aims to raise the goal of oil and gas production and capital spending, amid expectations that 9 new projects will start operating during the current year. The company said total capital expenditure for the current year will range…
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The global price of a barrel of oil rises 3%… and Brent crude is above $82 – (update)
The price of a barrel of oil rose globally by more than 3% at the end of trading today, Wednesday, January 11 (2023), as fears of supply shortages overshadowed the state of economic uncertainty. Market participants were pulled in different directions by an unexpected increase in US oil and fuel inventories, global economic uncertainty and…