Tag: oil
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Plans to increase oil production in Guyana to tap 25 billion barrels of reserves
US ExxonMobil continues to focus on boosting oil production in Guyana; The company is preparing to approve its fifth project, which is scheduled to start production in 2027 for a period of 20 years, according to estimates by the Government of Guyana. ExxonMobil’s proposed fifth development at the Oro oil field would pump about 250,000…
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Licenses to explore for oil and gas in 900 sites in Sri Lanka
Sri Lanka relies entirely on oil and gas exploration activities to enhance its energy productivity, in light of the suffering of the South Asian country from a shortage of fuel supplies due to a financial crisis that seems intractable, at least for the time being. In this context, the state is preparing to issue two-year…
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Guyana’s oil export revenues could jump to 31% in 2023
Guyana’s oil export revenues are expected to rise by 31% to $1.63 billion in the current year (2023), according to government estimates. Finance Minister Ashni Singh said on Monday (January 16) that this forecast is mainly due to increased production from the addition of a third production facility towards the end of the year, according…
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The global price of a barrel of oil has risen… and Brent crude is near $85
The price of a barrel of oil rose globally during trading today, Tuesday, January 17 (2023), amid hopes for an increase in fuel demand. Oil markets are facing volatile dealings, after China recorded its weakest annual economic growth in nearly half a century, in conjunction with hopes for a recovery in fuel demand this year,…
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Iran abandons Syria and doubles the price of oil exports to it
Tehran doubled the price of Iranian oil exports to Syria, and asked Damascus to pay the value of future shipments in advance, amid the severe fuel crisis in Syria. Officials in Iran informed their Syrian counterparts of an increase in the price of crude that Damascus is buying to more than $70 a barrel from…
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The US oil sector awaits a breakthrough in the complex permit crisis before the presidential elections (report)
The US oil sector hopes to resolve the complex bureaucratic permitting crisis that is hindering infrastructure work for new projects in the sector from launching during 2023, after years of unsuccessful pressure. Lobbyists in the oil and gas sector in the United States are exerting strong pressure on members of the US Congress to pass…
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What is the appropriate oil price for Saudi Arabia and OPEC +?.. 6 experts answer “Energy”
The decision of the members of the OPEC + coalition to reduce the production ceiling by two million barrels, starting from November (2022) until December (2023), shocked the energy markets, and angered the United States and countries consuming black gold. The aim of the decision was to boost oil prices, which have fallen to levels…
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Will oil prices exceed $100 in 2023? Anas Al-Hajji answers
Energy platform editing advisor, energy economics expert Dr. Anas Al-Hajji, said that there are those who hope that oil prices will rise in the current year (2023) above the $100 level. Al-Hajji explained, during an episode of the program “Energy humanitiesHe presented it on Twitter under the title “Oil Markets Outlook for 2023,” that a…
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Kazakh oil is preparing to increase supplies through the Caspian Sea pipelines in 2023
In the second year after the outbreak of the Russian-Ukrainian war, the Caspian Sea Pipelines Consortium (CPC) announced its willingness to increase supplies of Kazakhstani oil in 2023, which may contribute to alleviating global demand concerns. The Director General of the Caspian Sea Pipelines Union, Nikolai Gorban, said that the expected increase in supplies during…
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The global price of a barrel of oil rises and records weekly gains of more than 8% – (Update)
The price of a barrel of oil rose globally by about 2%, at the end of trading today, Friday, January 13, 2023, for the seventh session in a row, amid optimism about the recovery of demand. Oil prices gained more than 8% this week, amid strong indications of demand growth in China, the largest importer…
