Tag: oil
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Oil production from plastic is at the top of South Korea’s circular economy strategy
The South Korean government has put oil production from plastic at the top of a strategic plan to implement a circular economy that benefits the country, reduces the volume of its imports and contributes to reducing emissions. Today, Wednesday, June 21 (2023), the government said that South Korea will push for a “circular economy” for…
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Indian Oil Minister: We import one million barrels of oil per day from Iraq…and we are planning for more
Indian Oil Minister Hardeep Singh Puri confirmed that his country is seeking to increase its imports from Iraq, in order to raise the total Indian oil supplies, which currently amount to about one billion barrels. New Delhi places the highest priority on a multidimensional and comprehensive partnership with Baghdad. Puri headed his country’s delegation to…
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The global price of a barrel of oil is declining… and Brent crude is below $76
The price of a barrel of oil fell globally, today, Tuesday, June 20 (2023), after China cut interest rates on lending by less than expected, which increased concern about the outlook for oil demand in the largest importer of crude in the world. Crude oil prices closed down on Monday, driven by concerns about the…
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Iran’s oil price to Asia rises 40 cents in July
The price of Iranian oil destined for Asia is scheduled to rise, during next July, by about 40 cents compared to the current month of June, at a value that is 5 cents lower than the prices of Saudi Aramco shipments during the next month. And the National Iranian Oil Company announced the official selling…
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Indian Oil Minister: OPEC+ cuts did not raise oil prices for several reasons
Indian Oil Minister Hardeep Singh Puri has expressed his concerns about the continuation of OPEC+ cuts in crude oil production, estimated at around two million barrels per day until the end of 2023, as well as additional voluntary cuts by several member states of the Alliance of Major Producers. Puri warned that the continuation of…
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The global price of a barrel of oil is declining… and Brent crude is near $76
The price of a barrel of oil declined globally, during trading today, Monday, giving up some of the gains it achieved last week, amid fears of an economic recession. Questions about China’s economy overshadowed the OPEC+ production cuts, and the seventh consecutive decline in the number of oil and gas rigs operating in the United…
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Who is the new Kuwaiti Oil Minister Saad Al-Barrak?
The selection of the new Kuwaiti oil minister, Saad Al-Barrak, came after several days of consultations, following the resignation of the fourth government of Sheikh Ahmed Nawaf Al-Ahmad. Yesterday, Sunday, the Emir of Kuwait, Sheikh Nawaf Al-Ahmad Al-Sabah, issued an Emiri decree forming the new government headed by Sheikh Ahmed Nawaf Al-Ahmad Al-Sabah, which includes…
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Accusing the army of stealing oil in Nigeria…a decisive response from the “Navy”
Oil theft in Nigeria is still a thorn in the back of the owner of the largest oil and gas reserves in Africa, which deprives it of revenues of millions of barrels per day. In the latest developments in this regard, the leader of the Niger Delta region (rich in oil) accused the armed forces…
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10 tankers massing with Saudi oil off Egypt .. “Energy” publishes new details (update)
10 tankers loaded with 20 million barrels of Saudi oil continue to gather off the coast of the Egyptian city of Suez, in a remarkable scene that raises many questions about the reasons for this crowd of tankers. The reasons for the presence of these large quantities of oil barrels coming from Saudi Arabia and…
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10 tenders to support oil production in Kuwait to 3 million barrels per day
Aiming to boost Kuwait’s oil production to 3 million barrels per day by 2025, up from 2.8 million barrels per day now, the Gulf state’s oil sector is preparing bids worth more than $700 million. Today, Sunday, June 18 (2023), the CEO of the Kuwait Oil Company, Ahmed Jaber Al-Aidan, announced his country’s commitment to…
