Oil
The world’s Proven oil Reserves Giants:

The latest reports on global oil reserves from approved sources, including the International Energy Agency, British Petroleum review and OPEC, indicate that the world’s largest proven oil...

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World demand for energy to grow at its fastest pace (2.3% in 2018)

The year 2018 marked an increase in demand for all fuels, but natural gas was the fastest growing energy source as being the preferred fuel, accounting for 45% of the increase in energy consumption....

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“The next stage is exceptional in the oil industry”

“The next stage is an exceptional stage in the oil industry, and the geopolitics will have a more important factor in the markets in the coming period,” said Fatih Birol, executive...

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ADNOC announces new land area for oil exploration and production

The data available from the three-dimensional seismic survey includes a large part of the new region, which is promising potential is also close to “Shah” and “nerve” and...

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Egypt Invests $9 B in Refining Projects

  Egypt is carrying out six refining mega projects with around $9 billion investments as a part of the oil and gas sector’s Modernization Project, stated Tarek El Molla, Minister of Petroleum,...

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Qatar to exit OPEC, results and reasons

By Yara Samarraei – Dec 05, 2018 Qatar decided to withdraw from the Organization of Petroleum Exporting Countries (OPEC) and delivered an official letter to the Secretary-General of the...

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Qatar to exit OPEC, results and reasons

By Yara Samarraei – Dec 05, 2018 Qatar decided to withdraw from the Organization of Petroleum Exporting Countries (OPEC) and delivered an official letter to the Secretary-General of the...

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Saudi Arabia – and OPEC in general – may lose leadership of the global oil market

Analysts at the BMI Research said the potential of shale oil in the United States is still largely unknown and that the oil prospects form Iran, Libya and Venezuela are Doubtful. Analysts say Saudi...

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IEA: Global conventional oil discoveries fell to record low in 2016

According to Oil and Gas Journal Editors, the global conventional oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources...

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IEA says global oil market now close to balance

The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the...

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