Tag: oil
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Russian oil exports to India are higher than Saudi Arabia and Iraq combined
Indian refiners continue to import cheap Russian oil, taking advantage of discounts offered by Moscow in the wake of Western sanctions in response to its invasion of Ukraine. India’s imports of Russian oil hit a record level in February 2023, keeping New Delhi the largest single supplier of oil for the fifth consecutive month, according…
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Sierra Week 2023… Oil, gas and energy transition are on the agenda of world leaders
The countries of the world are preparing to discuss developments in the oil, gas and energy industry, during CERA Week 2023, which begins Monday, March 6 (2023), in the United States, specifically in Houston, and lasts for 5 days. The conference provides a comprehensive and integrated framework for understanding the present and future of global…
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Crude oil prices rise to the highest level in two weeks – (Update)
Crude oil prices rose at the end of their trading today, Wednesday, March 1 (2023), to continue to reap gains for the second consecutive session, recording the highest level in two weeks, after the release of US inventories data. This comes with a strong jump in manufacturing in China, the world’s largest crude importer, which…
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Crude oil prices rise in a volatile session… and Brent near $85 – (update)
Crude oil prices rose at the end of trading today, Thursday, March 2 (2023), to continue reaping gains for the third consecutive session. The oil markets witnessed a volatile session, as trading began on the rise, and then fell under pressure from fears of falling demand after the data showed a decline in US oil…
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Crude oil prices rise 2% and record weekly gains – (Update)
Crude oil prices rose at the end of trading today, Friday, March 3 (2023), to achieve weekly gains, with Brent crude rising near $86 a barrel. The recovery of factory activity in China, the world’s largest oil importer, offset growing concerns about rising US crude inventories and the possibility of interest rate increases in Europe.…
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Shell shocks climate activists and backs off plans to cut oil production until 2030
Shell, one of the world’s largest oil and gas companies, has abruptly and disappointingly backed down from plans to cut oil production, to the disappointment of emissions reduction plans and environmental and climate activists. And the Anglo-Dutch company announced that it is entering a state of review of its current plan to cut oil production…
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The closure of one of the largest oil fields in the North Sea due to exceptional taxes
Canada’s Canadian Natural Resources International has decided to shut down the Ninian field, one of the largest oil fields in the North Sea, given difficult market conditions, due to high natural gas production costs, unexpected taxes and lower UK business prospects. The company is working to “accelerate the abandonment” of its two remaining Ninian South…
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Crude oil prices are marginally declining… and Brent is below $85
Crude oil prices declined marginally during today’s trading, Friday, March 3 (2023), but are heading for weekly gains. The recovery of factory activity in China, the world’s largest oil importer, offset growing concerns about rising US crude inventories and the possibility of interest rate increases in Europe. Crude oil prices today By 07:35 a.m. GMT…
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Oil exploration in Namibia attracts the Australian Woodside
Oil exploration in Namibia has succeeded in attracting large numbers of major international energy companies, the latest of which is Woodside, which wants to expand its investment portfolios in this emerging and promising industry in the country located in southwest Africa. Windhoek has made rapid strides in recent years towards developing its oil industry, bolstered…
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China ramps up purchases of Russian oil, fearing “cut” threats
China has intensified orders to buy Russian oil over the past weeks, amid fears that Moscow will cut production. In response to Western sanctions, which force it to make cuts that greatly harm its revenues. And Chinese refineries took advantage of the attractive discounts offered by Russia, and intensified purchases through import orders in large…
