all available information about oil wealth
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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…
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The global price of a barrel of oil falls and records weekly losses – (Update)
The global price of a barrel of oil decreased by more than 1.5%, at the close of trading today, Friday, January 27 (2023), due to profit-taking and an increase in Russian exports despite Western sanctions. Oil prices rose earlier in the trading, supported by stronger-than-expected US economic growth and hopes for a recovery in Chinese…
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The global price of a barrel of oil has risen… and Brent crude is near $88
The price of a barrel of oil rose globally, during today’s trading, Friday, January 27 (2023), amid expectations of an increase in demand. This comes supported by stronger-than-expected US economic growth and hopes for a recovery in Chinese demand, with coronavirus cases and deaths declining from peak levels last month. The global price of a…
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An expected jump in Iranian oil production from 750 wells
Iranian oil received a new impetus as part of government efforts to boost production, in order to reach the target of 5.7 million barrels per day. Iran’s state oil company has awarded contracts worth $500 million to local companies to revive low-production oil wells in the country, according to the Iranian news agency Mehr. This…
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The largest US refineries are regaining their activity, and the rest are still suffering (report)
The largest US refineries are preparing to return to normal activity after the wave of severe storms that disrupted their production subsided over the past weeks, but other refineries are still suffering, prompting Canadian crude to search for new buyers in Asia. The Port Arthur refinery in Texas is preparing to announce the regularity of…
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Total Energy is accused of “greenwashing”…and the French company is responding
It appears that accusations of “greenwashing” will continue to haunt France’s Total Energy, which has repeatedly asserted that it is on track to achieve carbon neutrality by 2050. The giant energy company has been accused of “greenwashing” since December 2021, as part of an investigation into “misleading commercial practices” in the field of the environment,…
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Shell is considering withdrawing from retail activities in 3 major European countries
Shell – one of the major international oil companies – is heading to exit retail activities in 3 major European countries, due to the repercussions of the energy crisis that has extended in the old continent since last year. The Anglo-Dutch company announced it is considering withdrawing from its home retail business in the United…
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Russian diesel will not be spared from the price ceiling.. and Europe is studying a maximum of $100
The European Union is close to banning Russian oil derivatives transported by sea, particularly Russian diesel, a step that could lead to a scarcity of global supplies and an increase in prices. It is likely that the impact of the ban on Russian oil derivatives will become more severe than the ban on Russian oil…