Book your table now and find out who takes top honours at this year's Middle East Energy Awards
Have you confirmed your tables for the Middle East Energy Awards 2022 set to take place on 23 February? Only two weeks away, ticket sales for the prestigious event are selling quickly. Tickets are priced at AED 1800 per seat and AED 13,500 per table till 18 February, with prices increasing after that. Click here […]
The new platform seeks to inform the key decision-makers and influencers in the Saudi Arabian energy market
ITP Media Group announced Friday that it would be launching a new platform exclusively for Saudi Arabia’s energy sector: Oil & Gas KSA. The new brand will be launching on February 28, and was conceived as interest has grown from our Saudi Arabian readership in Oil & Gas Middle East. The launch is perhaps unsurprising […]
Oil prices rollercoaster as JCPOA deal days away, Russia-Ukraine situation in standstill
Oil prices slipped by more than 2% early Thursday (17 February) morning due to comments regarding the JCPOA deal. West Texas Intermediate (WTI) fell more than 2% after closing above $93 a barrel on Wednesday, while Brent crude was trading down 2.6%. Iran’s top negotiator Ali Bagheri Kani tweeted that efforts to restore the […]
“Continued shortfalls may tip the market into deficit and put upward pressure on oil prices,” independent advisory firm notes
OPEC+ member states underperformed their production target by 832,000 b/d in December, the group’s advisory committee’s analysis stated, S&P Global Platts reported. This casts uncertainty on whether the allies will increase supply in line with global demand, S&P noted. Today’s committee meeting to discuss March output levels will likely approve another 400,000 b/d hike in […]
Analysts say the pressure from importing nations and the pace of crude's price rally indicate a potential for OPEC+ to increase output
Investment banking firm Goldman Sachs said on Tuesday that OPEC+ may announce a bigger-than-expected rise in output due to Brent oil prices’ increase to around $90 per barrel, as cited by Bloomberg. The outcome of either an expected hike of 400,000 barrels a day for March versus a bigger increase following Wednesday’s OPEC meet remains […]
The price for Brent crude futures rose over $90 last week for the first time in years
Oil prices have continued to soar as signs of extended global demand growth have continued while tensions in Ukraine sprout fears of an energy flow upset. The price for Brent crude futures rose over $90 last week for the first time in years. The price has risen as fears increased over a Russian invasion of […]
Kazakhstan is a major global oil player, producing around 1.6 million barrels of oil per day
Oil prices have continued to rise as fears increase that unrest in Kazakhstan would hit oil production in the country. On January 6, the operator of Kazakhstan’s highest-producing oil field, Tengiz, said that a logistics issue had caused it to changed its production levels with political protests ongoing at the site. S&P Global Platts reported […]
Liquids have dominated total finds, representing 66 percent of the total. The monthly average of discovered volumes as of November stands at 424 million boe.
Global oil and gas discoveries in 2021 will hit the lowest full-year level in 75 years if no major finds are uncovered in the remainder of December, Rystad Energy said. By the end of November 2021, the industry had discovered volumes of 4.7 billion barrels of oil equivalent (boe) in the year, if no major […]
The field is located is located around 2 kilometres off the coast of Rio de Janeiro and is a multi-billion barrel, pre-salt oil field
A consortium of oil firms was awarded the Sepia Surplus Production Sharing Contract (PSC) by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) on Friday, according to a statement. According to the statement, QatarEnergy will hold a 21 percent interest in the PSC, with Petrobras holding 30 percent, TotalEnergies holding 28 percent, and […]
Saudi Arabia, the world’s largest oil exporter, announced Sunday it would raise the price of crude oil by 80 cents up in January from the previous month.
Oil prices were up Monday to over $71 a barrel following an announcement that Saudi Arabia would increase the price of crude, signalling confidence in demand despite the spread of the omicron variant of Covid-19. Brent crude gained 2.1 percent to $71.35 per barrel, while West Texas Intermediate increased 2.35 percent to $67.82 per barrel […]
