Will Saudi Arabia, UAE bail out from oil crisis?
OPEC was established in 1960 as a cartel with the intention of controlling the price and supply of oil globally....
Category : Oil & Gas
Decline of Nigeria crude exports: Country heading towards economic collapse?
The Excess Crude Account and fuel subsidies have depleted state coffers in the first four months of 2022....
Oil & gas: What makes this industry most profitable
According to IMF, the fossil fuel industry also benefits from subsidies of USD 16 billion a day....
Shell planning to drill in the Gulf of Mexico for oil extraction
US President Joe Biden is considering opening the gates for drilling in the Gulf of Mexico....
Europe told to buckle-up as Russia set to turn off gas exports
The development comes after Europe was warned by the head of the International Energy Agency that Russia is planning to cut off the gas exports....
Kuwait oil revenues reach $38.10 bn in 2021
The gulf OPEC member recorded a budget deficit of Dh682.4 mn in the first nine months of the fiscal year...
Brazil auctions two large oil blocks, raises $2 bn
Total, Shell, Petronas and Petrobras among the winning bidders...
Petrobras hands contract to Offshore driller Seadrill for work in the Búzios field
Seadrill will commence work on December 2022 and the contract is for 1,040 days...
Saudi Aramco to continue seeking business opportunities in India
The announcement comes after Reliance Industries scrapped a plan to sell a stake in its oil-to-chemical unit...