Shell to Halt Purchase of Russian Oil and Gas
Following criticism over its decision to acquire crude oil from Russia last week, UK energy major Shell has decided to halt all imports of Russian oil and natural gas. On...
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Saudi Arabia Reiterates Commitment to the OPEC+ Agreement and Russia
Despite the conflict between Russia and Ukraine, last week, the Saudi Press Agency reported that Saudi Arabia's Crown Prince Mohammed bin Salman (MbS) reaffirmed his country's "commitment to the 'OPEC+'...
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The Republic of the Congo to Upgrade Gas in Pursuit of Zero Flaring
President of the Republic of the Congo, H.E. Denis Sassou-Nguesso, has outlined government plans to upgrade gas towards the objective of zero flaring. Speaking during an address to an audience...
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Iran Prepares to Return to International Oil Markets Amid Reports Sanctions Will be Lifted
According to Bloomberg, Iran is preparing to re-enter international oil markets, with representatives from the National Iranian Oil Company meeting with two South Korean refiners to negotiate supply agreements. South...
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Iran Expects Higher Oil Export Revenues This Year
Based on the proposed budget for the year ending March 2023, Iran expects increased oil export profits in the coming fiscal year. The proposal includes oil export receipts that are...
Read More CCTV News: Interview with Nigeria’s Minister of State for Petroleum Resources on oil price
From the Archives: JUNE 30, 2016 "Double the 50 billion dollar target, that's how Nigeria's fundraising roadshow is going. Nigeria's Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu tells CCTVNEWS...
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Europe’s Dependence on Natural Gas Imports Reaches 80%
The European Union and the United Kingdom's reliance on natural gas imports have increased from 65% in 2010 to 80% in 2020, according to the US Energy Information Administration (EIA)....
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Taqa’s 2021 Profit More Than Doubles as Revenue Climbs on Higher Oil Prices
Taqa, the Abu Dhabi National Energy Company, saw its profit more than double in 2021 because of increasing oil prices. The company said in a statement to the Abu Dhabi...
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Iran Oil Exports Jump Over 1 Million Bpd for the First Time in 3 Years
According to Reuters, crude oil shipments from Iran have surpassed 1 million barrels per day (bpd) for the first time since 2019. China, unsurprisingly, is the largest buyer of oil....
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Cyril Ramaphosa Calls for Increased Investment in South Africa’s Upstream
On February 10, President of South Africa, H.E. Cyril Ramaphosa, delivered his sixth State of the Nation Address in Cape Town, the country's legislative capital. Ramaphosa stated that the government...
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