Tag: oil
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Oil and gas exploration in Guyana expects to drill 35 new wells
The coming period is witnessing a revival of oil and gas exploration activity in Guyana, as the success achieved by Exxon Mobil there has increased the appetite of the American company to explore for more fossil fuels in the deep waters off the coast of the South American country. In this regard, a consortium of…
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Oil prices fell 1% in a volatile session… and Brent crude is under $75 – (update)
Oil prices fell at the end of trading today, Monday, July 3 (2023), after a volatile session, after rising during trading, amid fears of a supply shortage after Saudi Arabia’s decision to extend the voluntary cut for the month of August. And Saudi Arabia announced the extension of the voluntary cut of one million barrels…
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Saudi Aramco violates expectations and raises oil selling prices
Saudi Aramco announced the official prices for the sale of shipments of Arab Light crude during the coming month of August (2023), to its customers in Asia, Europe and the United States. The company decided to raise the official sale price of Saudi Arabian Light crude oil to its customers in Asia by 20 US…
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Oil prices are fluctuating, and Brent crude is above $76 – (Update)
Oil prices witnessed a volatile session at the end of trading today, Thursday, July 6 (2023), as West Texas crude rose marginally, while Brent crude fell, with growing fears of a global economic recession that might limit demand, and an increase in US inventories. This comes amid fears of a slowdown in demand recovery in…
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Oil and gas production in Norway increases thanks to 7 discoveries during 2023
Oil and gas production in Norway has increased significantly since the beginning of this year (2023); This enhances the country’s role as a safe and stable supplier of energy to Europe, in light of the old continent’s endeavor to secure supplies away from Russia. After Russia’s invasion of Ukraine, Norway became Europe’s largest natural gas…
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Iraqi Oil Minister: The inclusion of new countries in “OPEC” enhances the stability of the global market
Iraqi Oil Minister Hayan Abdul-Ghani said that the entry of new countries into the Organization of Petroleum Exporting Countries (OPEC) aims to strengthen efforts to maintain the stability of the global market, and contributes to the generalization of benefits to all OPEC countries and investors. This came during an interview conducted by the Emirates News…
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Oil and gas in Iran targets investments of $250 billion
The oil and gas sector in Iran plans to attract investments of more than $250 billion over the next 8 years, despite the US sanctions on Tehran, which are causing the reluctance of many international companies. During his participation in the OPEC conference, Iranian Oil Minister Javad Oji said that during the past 20 months,…
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Oil prices are falling… and Brent crude is above $76
Oil prices fell, during trading today, Thursday, July 6 (2023), with growing fears of a global economic recession that may limit demand. This comes amid fears of a slowdown in demand recovery in China, the world’s largest importer of crude; This compensated for the potential for supply scarcity, with production cuts from Saudi Arabia and…
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Oil prices rise 3%.. Brent crude is above $76 – (Update)
Oil prices rose by about 3% at the end of trading today, Wednesday, July 5 (2023), with Saudi Arabia confirming that it will do what is necessary to support the market, indicating the possibility of approving more production cuts. During the last session, the markets witnessed a recovery, after Saudi Arabia and Russia announced that…
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Russian oil prices to China hit their highest levels in 7 months
Prices of Russian oil shipped to China rose to a seven-month high, amid expectations that Iranian oil will replace imports from Moscow. Russia’s light, sweet Espoo crude, which was loaded at the Pacific port of Kozmino for delivery in August to China, traded at a discount of $4 per barrel to Brent futures on an…
