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A surprise jump in Venezuelas crude oil output at the end of 2021 caught industry analysts by surprise. According to data provided by Caracas to OPEC the crisis-riven country pumped an average of 871,000 barrels per day during December 2021. That number, while considerably lower than the one million barrels per day announced by national oil company PDVSA as its end of 2021 target, still represents noteworthy growth of Venezuelas crude oil output when compared to 2020. December 2021s oil output was 3% greater than a month earlier

DESPITE the easing of inflation in January, a consumer group called on the government to keep a close

Crown Prince Mohammed bin Salman said move was part of efforts to recalibrate the oil-led economy Saudi Arabia has transferred shares worth $80bn to its sovereign wealth fund as the oil-rich nation hopes to rival Norway and Singapores state-managed funds and invest in green projects . Crown Prince Mohammed bin Salman, Saudi Arabias de facto ruler, said 4% of shares in Saudi Aramco, the worlds biggest oil exporter, would be transferred to the kingdoms sovereign wealth fund as part of efforts to recalibrate the oil-dominated economy. Continue reading

RIYADH: Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the worlds biggest oil exporter to the kingdoms sovereign wealth fund, authorities said yesterday. Crown Prince Mohammed bin Salman announced the move as part of efforts to recalibrate the oil-dominated economy. The transfer is also the latest sign that Saudi Arabia

Tribune Online NCDMB to launch $50m fund for oil industry manufacturing The Nigerian Content Development and Monitoring Board (NCDMB) has secured approval to launch a $50 million fund for Nigerian Oil and Gas Parks (NOGAPS) Manufacturing Product Line. The fund would be dedicated to companies that would operate in the Nigerian Oil and Gas Parks and engage in the manufacturing of equipment components used in the [] NCDMB to launch $50m fund for oil industry manufacturing Tribune Online

CAMARILLO, Calif. (AP) The average U.S. price of a gallon of regular-grade gasoline spiked 15 cents over the past three weeks to $3.55 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump came after a rise in crude oil costs. Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.75 per gallon. The lowest average is in Houston, at $3.05 per gallon. According to the survey, the average price of diesel is $3.91 a gallon, up 21 cents over three weeks.

Sahara Group has given a statement saying it is targeting an additional $1bn investment in LPG infrastructure . The company said this during the flag-off of a 16.7-kilometer Ikpako-Ajoki Road project in Edo State by the Nigerian National Petroleum Company Limited, Enageed Resources Limited, a Sahara Group upstream company, and also the Edo State Government. The road project cuts across the oil and agrarian communities, namely Obatan, Evbuorokho, Ajoki, Abala, Kolokolo, and Ajamokha, in Ovia North East and Ikpoba-Okha local government areas. Continue reading Sahara Group Eyes $1bn Investment In Infrastructure at BizWatchNigeria.Ng.

Riyadh (AFP), Feb 13 - Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the world''s biggest oil exporter to the kingdom''s - Kenya breaking news | Kenya news today | Capitalfm.co.ke

KARACHI: Rupee slipped 0.13 percent (-23 paisas) against the US dollar last week despite recent inflows from the International Monetary Fund. The rupee slipped from 174.48 to 174.71 against the American currency in the interbank market last week after registering a strong recovery in the preceding week. The local unit has appreciated by Rs1.80 during [] The post Surging oil prices, strong dollar may keep rupee under pressure appeared first on Pakistan Today .

The greenfield factory hopes to cash in on the big push blending of ethanol with petrol has received from the union budget. The demand for ethanol is expected to go up as petrol, not blended with ethanol, will attract an additional impost of Rs 2 per litre from October.

Momentum shift away from fossil fuels will continue.

Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the world''s biggest oil exporter to the kingdom''s sovereign wealth fund,

TEHRAN, Feb. 13 (Xinhua) -- Iranian government spokesman Ali Bahadori Jahromi said the recent increase in Iran''s oil exports is a sign of the failure of the U.S. sanction pressures, semi-official Mehr news agency reported on Sunday. "Western media acknowledgment of Iran''s record-breaking oil exports (for the first time) over the past three years is another sign of the failure of maximum pressure against the Iran

To access this post, you must purchase a BUNDLED or PREMIUM subscription. The post Irans boost of crude exports proves U.S. sanctions failure: spokesman appeared first on African News Agency .

OPEC, IEA predict world oil demand might rise even more steeply this year on strong global economic growth, underpinning already high prices.