G7 shelves Russian oil cap reviews as prices soar ahead of supply cutsWebAdminSeptember 21, 2023 by WebAdminSeptember 21, 2023 The G7 countries along with the European Union and Australia imposed the price cap mechanism on Russian oil in December 2022, followed by a cap on fuel from February 2023... Read more
Moscow plans to reveal new parameters, extends oil export reductionIFM CorrespondentSeptember 11, 2023 by IFM CorrespondentSeptember 11, 2023 Russia has been reducing output and exports in concert with Saudi Arabia in addition to current OPEC+ limits... Read more
Hollywood film ‘Sands of Fortune’ to spotlight Saudi’s lucrative oil industryIFM CorrespondentSeptember 5, 2023September 4, 2023 by IFM CorrespondentSeptember 5, 2023September 4, 2023 Saudi Arabia discovered oil at 1,440 meters in the Dammam oilfield in March 1938... Read more
Kuwait records first budget surplus in nine years thanks to soaring oil pricesIFM CorrespondentAugust 3, 2023 by IFM CorrespondentAugust 3, 2023 Over the course of a year, Kuwait brought in 28.8 billion dinars, a 54.7 per cent increase over the previous year... Read more
Oil prices slide further amid concerns over China’s economic growthIFM CorrespondentJuly 5, 2023July 5, 2023 by IFM CorrespondentJuly 5, 2023July 5, 2023 China, the top oil importer in the world, is experiencing a sputtering recovery, which continues to worry the market... Read more
Kenya to invest more in oil facilities?IFM CorrespondentJune 16, 2023 by IFM CorrespondentJune 16, 2023 Currently, Kenya does not produce any hydrocarbons, although the country most likely has the potential to become an oil producer after 2030... Read more
Europe may face gas shortage: Qatar’s Energy Affairs MinisterIFM CorrespondentJune 6, 2023 by IFM CorrespondentJune 6, 2023 Qatar's Minister of State for Energy Affairs, HE Saad bin Sherida Al Kaabi said the country is close to producing 126 million tons by 2026... Read more
After a two-year hiatus, US oil shipment heads to South AfricaIFM CorrespondentJune 1, 2023 by IFM CorrespondentJune 1, 2023 Kpler data show that Saudi Arabia, West and Central Africa, and South Africa are the primary sources of South Africa's oil... Read more
IF Insights: Have the sanctions against Russia worked?IFM CorrespondentMay 25, 2023 by IFM CorrespondentMay 25, 2023 One of the primary objectives of the sanctions was to limit Russia's access to the global energy market and reduce its ability to export oil... Read more
Fall in oil output to slow down Saudi GDP growth in 2023?IFM CorrespondentMay 19, 2023 by IFM CorrespondentMay 19, 2023 The non-oil revenues increased by 9% in Q1 2023 while oil revenues declined by 3%, as per the Saudi government stats... Read more