Tag: oil
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Oil prices are falling… and Brent crude is under $76
Oil prices fell during trading today, Wednesday, July 5 (2023), amid fears of a global economic recession that may limit demand. During the last session, the markets witnessed a recovery, after Saudi Arabia and Russia announced that they would extend production cuts until August. And Saudi Arabia announced, on Monday, July 3, the extension of…
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Libyan Oil Minister: Increasing our gas exports to Europe is not currently possible
Libyan Oil Minister Mohamed Aoun confirmed that increasing his country’s gas exports to Europe is out of the question at the current stage, and that it can be considered in the long term after 5 years. He said that the export of gas from his country to Europe via Italy through the Green Stream line…
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OPEC Secretary General: The oil and gas sector is an important partner in facing the climate change crisis
OPEC Secretary General Haitham Al-Ghais stressed the role that the oil and gas sector can play in addressing the negative effects of the climate change crisis. He stressed that the global energy scene requires a common vision that links 3 main challenges to energy sustainability, represented in energy security, affordability, and reducing emissions. The Secretary-General…
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Egypt is looking forward to drilling 35 wells for oil and gas exploration
Egypt is implementing an integrated program in cooperation with major international companies to explore for oil and gas, as part of its strategic plan to benefit from its natural resources and become a regional center for energy trade. In this context, Petroleum Minister Tarek El-Molla revealed that his country has begun implementing an ambitious program…
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Oil prices are slowly rising.. Brent crude is above $75
Oil prices rose again, today, Tuesday, July 4 (2023), in the wake of the markets being affected by the announced cuts for the month of August, by the major producers and exporters in the world, led by Saudi Arabia and Russia. Yesterday, Monday, July 3, Saudi Arabia announced that it would extend the additional oil…
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India’s imports of Russian oil hit the highest level in 10 months
India’s imports of Russian oil rose to a new record high in June 2023, marking the highest level in 10 months, according to energy market research firm Kepler. At the same time, some oil refineries in New Delhi have started paying some shipments in Chinese yuan. The head of the crude analytics sector in the…
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The UAE Minister of Energy reveals the role of OPEC + in facing oil market speculation
The UAE Minister of Energy, Suhail Al Mazrouei, stressed the importance of the role of the OPEC + alliance in controlling the stability of global oil markets. In order to achieve the common interest of consumers and producers. He said that the Organization of Petroleum Exporting Countries “OPEC” and its allies outside the organization “OPEC…
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Saudi Aramco may cut oil sales prices to Asia in August (Survey)
Saudi Aramco intends to reduce the official selling prices for Arab crude destined for Asia, during next August, in light of continuing fears of a global economic recession that may affect demand. A Reuters poll revealed that the Saudi oil giant, the largest oil exporter in the world, may reduce the price of its main…
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Oil prices record quarterly losses for the fourth time in a row – (Update)
Oil prices rose by more than 1% at the end of trading today, Friday, June 30 (2023), to continue to reap gains for the third consecutive session, supported by hopes for a recovery in demand for crude, but it recorded quarterly losses for the fourth time in a row. Oil markets achieved their first monthly…
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Burning fuel oil threatens Iran with risks (article)
Read in this article • The continued use of unconventional fuels in power stations threatens the lives of Iranian citizens. • The direct effects of air pollution appear more in children, the elderly and heart patients. • 14 out of 16 power plants in Iran use fuel oil. • The main cause of pollution in…
