all available information about oil wealth
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Shell faces accusations of helping Iran profit from the Iraqi energy sector
Read in this article The Iranian Mabna Company is the largest beneficiary of the Rumaila power station in Iraq The Rumaila power station is preparing to supply a project supported by Shell Mapna is evidence of Iranian penetration in the Iraqi energy sector The Shell joint venture has won wide acclaim for its important role…
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OPEC officially invites Ecuador to return to its ranks: “a top priority and enormous benefits”
The Organization of the Petroleum Exporting Countries, OPEC, opened its doors to Ecuador, welcoming it back to the ranks of 13 other major black gold producers in the world. The Secretary-General of the organization, Haitham Al-Ghais, issued an official invitation to Ecuador to return to the organization again, after it left more than 3 and…
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Crude oil prices are rising for the second day, and Brent is above $75 a barrel
Crude oil prices rose for the second day in a row, supported by the US’s announcement of its plans to buy huge quantities of crude oil to fill its strategic reserves. At the same time, a batch of weaker-than-expected Chinese data indicated that the soft economy failed to lower prices, as the market focused on…
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Crude oil prices rise 1.5%.. Brent is above $75 a barrel – (Update)
Crude oil prices rose by about 1.5% at the end of trading today, Monday, May 15 (2023), in an attempt to compensate for the losses incurred during the past 3 sessions, amid expectations of scarce supplies. Bullish sentiments about shrinking supplies from OPEC+ cuts and resumption of buying in the US to shore up the…
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The results of the UAE energy business in the first quarter of 2023 recorded profits of $ 3.16 billion
The results of the UAE energy business in the first quarter of 2023 recorded a significant jump in profits and revenues, supported by the growth of the company’s activity. And the Abu Dhabi National Energy Company announced that achieving strong financial results, during the first quarter of this year for the period ending on March…
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Crude oil prices are falling… and Brent is below $74 a barrel
Crude oil prices fell during trading today, Monday, May 15 (2023), for the third consecutive session, amid fears of an economic recession that threatens demand. Growing concerns about fuel demand in the world’s two largest oil consumers, the United States and China, offset bullish sentiments about tightening supplies from OPEC+ cuts and the resumption of…
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Crude oil prices rose after a volatile session… and Brent is above $77 – (Update)
Crude oil prices rose, at the end of trading today, Tuesday, May 9 (2023), after a volatile session, with optimism about fuel demand during the summer. The market remained cautious ahead of the US April inflation data, which will be key to the next Fed rate decision. And the US Energy Information Administration raised its…
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OPEC Secretary General: We are ready to save the largest amount of energy while reducing emissions
OPEC Secretary General Haitham Al-Ghais called again to address the lack of investment in the oil sector, noting that there is no one-size-fits-all solution for a sustainable energy future. He explained that the general focus should be on reducing emissions and using all types of fuel; The world will need more energy in the coming…
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Why are oil prices declining despite the voluntary cuts of some OPEC+ countries? Anas Al-Hajji answers
The editorial advisor of the specialized energy platform, energy economist Dr. Anas Al-Hajji, explained the reasons for the decline in crude oil prices during the recent period, which pushed Brent crude into the seventies. Al-Hajji explained, in a new episode of the program “Energy humanitiesHe presented it on Twitter under the title “Oil Market Surprises……
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A British company may be on a date with an oil discovery in Egypt in July
An oil discovery is expected to be announced in Egypt, during next July (2023), in the concession area northwest of Al-Amal, south of the Gulf of Suez, by a specialized British company. British independent oil and gas company Neptune Energy has updated its drilling schedule in several countries; Among them are Egypt, Indonesia and the…