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ADNOC announces a new gas discovery in Abu Dhabi

A few days ago, the Abu Dhabi National Oil Company (ADNOC) announced the second discovery of natural gas resources in the first exploration well within the offshore block 2 concessions in Abu Dhabi,...

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The giant oil companies reaped huge profits in the second quarter of 2022

As a result of high energy prices and profitable margins for oil refining, western oil giants Exxon, Chevron and Shell were able to gain record profits of $46.2 billion in the second quarter of...

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Libya enters a new phase by ending the blockade and starting the flow of oil

Oil started flowing again after the new head of Libya’s National Oil Corporation announced the end of a three-month oil blockade. Production will gradually return to increase to reach more than...

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Suez Canal achieves the highest returns in its history

Lieutenant-General Osama Rabie, Chairman of the Suez Canal Authority said that the fiscal year 2021/2022 witnessed a significant increase in the number of ships transiting the canal, with a total of...

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ExxonMobil signs strategic agreement with Qatar Energy to expand North Gas Field

Qatar’s North Gas Field is an extension of Iran’s South Pars field and is the largest gas field in the world owned by neighboring countries Qatar and Iran. Recently, Qatar signed...

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Sonatrach expects the country’s oil revenues to rise to 50 billion dollars this year 2022

Amid fears of a lack of supply and the repercussions of the Russian-Ukrainian crisis, Algeria benefited from the rise in global oil and natural gas prices, as its revenues jumped by about 70 percent...

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Kuwaiti Haitham Al-Ghais, the new Secretary-General of “OPEC”

Months before the end of his presidency of OPEC, the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Muhammad Barkindo, passed away. Barkindo had served as the...

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The Russian Energy Minister to declare that the price of oil may rise to 150 dollars per barrel

The Russian Energy Minister, Nikolai Shulgin, announced that the price of oil may rise to 150 dollars per barrel, despite the fact that the current geopolitical and economic situation hinders the...

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The World Bank: Global growth forecasts down to 2.9%, and warnings of “stagflationary risks”

According to Reuters sources, the World Bank on Tuesday, July 5, 2022, lowered its forecast for global growth to 2.9 percent for 2022, warning that the Russian invasion of Ukraine has compounded the...

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Qatar and Germany Sign Agreement on Energy Partnership

Qatar’s Minister of State for Energy Affairs, His Excellency Saad Sherida Al-Kaabi, and the German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck, today signed a Joint...

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