Saudi Arabia is making money from diesel trading after the EU embargo on Russian fuels, as the world’s top crude exporter is now importing record volumes of cheap diesel from Russia and exporting record levels of its own diesel to the higher-priced Asian market in the Singapore hub, trading and ship-tracking sources have told Reuters.
In short, it depends, Ed Morse, the Global Head of Commodities Research at Citi, told Rigzone.
The country’s upstream oil and gas industry is expected to witness some positive sentiments following the submission of a plan of development (PoD) of Deepwater Tano Cape Three Points (DWT/CTP) block to the Ministry of Energy by Pecan Energies.
Paris: Global investment in clean energy is on course to rise to $1.7 trillion in 2023, with solar set to eclipse oil production for the first time.
Leading carbon capture solutions provider, Carbon Clean, has announced the award of a new contract to global engineering experts, KBR, for the detailed design of a carbon capture plant for Ørsted’s FlagshipONE project in Sweden.
Nearly 70 years on, the country has risen to become one of the biggest producers and exporters in Africa, with production hitting an all-time high of two million barrels per day (bpd) in 2010.
The Minister of Power, Abubakar Aliyu, has announced that the long-awaited Zungeru Hydroelectric power project has been completed, and is already supplying 700 megawatts of electricity to the national grid.
Aliyu, who spoke at a farewell party organised for him and the Minister of State, Goddy Jedy-Agba, noted that the development will boost power supply nationwide and significantly fill the gap in the nation’s electricity demand.
The International Energy Agency (IEA) has said that a significant amount of oil and gas profits made in 2022 were used to increase shareholder returns as opposed to investing in clean energy.
Since the discovery of oil in commercial quantities in 2007, Ghana’s petroleum industry has witnessed remarkable growth.
Oil prices recorded big declines on Thursday, with WTI and Brent crude down 3% on the intraday session as debt ceiling jitters overcame optimism about another round of OPEC+ production cuts.