G7 shelves Russian oil cap reviews as prices soar ahead of supply cuts
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...
Category : Oil & Gas
Moscow plans to reveal new parameters, extends oil export reduction
Russia has been reducing output and exports in concert with Saudi Arabia in addition to current OPEC+ limits...
Hollywood film ‘Sands of Fortune’ to spotlight Saudi’s lucrative oil industry
Saudi Arabia discovered oil at 1,440 meters in the Dammam oilfield in March 1938...
Kuwait records first budget surplus in nine years thanks to soaring oil prices
Over the course of a year, Kuwait brought in 28.8 billion dinars, a 54.7 per cent increase over the previous year...
Oil prices slide further amid concerns over China’s economic growth
China, the top oil importer in the world, is experiencing a sputtering recovery, which continues to worry the market...
Kenya to invest more in oil facilities?
Currently, Kenya does not produce any hydrocarbons, although the country most likely has the potential to become an oil producer after 2030...
Europe may face gas shortage: Qatar’s Energy Affairs Minister
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...
After a two-year hiatus, US oil shipment heads to South Africa
Kpler data show that Saudi Arabia, West and Central Africa, and South Africa are the primary sources of South Africa's oil...
IF Insights: Have the sanctions against Russia worked?
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...
Fall in oil output to slow down Saudi GDP growth in 2023?
The non-oil revenues increased by 9% in Q1 2023 while oil revenues declined by 3%, as per the Saudi government stats...