Tag Archives: crude oil

Russia has made it clear that it will not export oil to countries that enforce price caps Rome, Italy | Xinhua | A price cap on Russian seaborne crude recently agreed by the European Union (EU), the Group of Seven (G7) nations and Australia came into effect on Monday. Whether the …

Baghdad, Iraq | Xinhua | Iraq seeks to raise its crude oil production to 8 million barrels per day (bpd) by the end of 2027 to fulfil its commitment to export quota within the Organization of the Petroleum Exporting Countries (OPEC), Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail said Sunday. “Iraq is …

Rome, Italy | Xinhua | European Commission President Ursula von der Leyen said on Wednesday that the European Union (EU) will phase out Russian supply of crude oil within six months and refined products by the end of the year. However, Italy-based analysts said the move — if adopted — would …

Brussels, Belgium | Xinhua | The European Union (EU) will phase out Russian crude oil within six months and refined products by the end of the year, European Commission President Ursula von der Leyen said Wednesday, announcing the sixth package of sanctions against Russia. “We now propose a ban on Russian …

Planned increases by the OPEC+ countries are sufficient to address any shortages that may occur in the crude oil supplies to the world markets Baghdad, Iraq | Xinhua | Iraq said on Wednesday that its crude oil exports are in line with the consumption in the world oil market, ruling out …

Washington, USA | Xinhua |  The U.S. national average for a gallon of regular gasoline hit 4.009 U.S. dollars on Sunday, the highest since July 2008, according to the American Automobile Association (AAA). The gas prices jumped 41 cents over the past week, following a surge in the oil prices …

Kampala, Uganda | THE INDEPENDENT | Government seeks to allow the Uganda National Oil Company (UNOC) access to proceeds from the sale of its interests in the crude oil. The proposal is contained in the Public Finance Management (Amendment), Bill 2021 that was tabled by the Minister of State for Finance, Planning …

Washington, U.S. | Xinhua | The Biden administration is releasing 1.5 million barrels of crude oil from America’s Strategic Petroleum Reserve (SPR) to address fuel shortages caused by Hurricane Ida. “The Department of Energy has authorized the Strategic Petroleum Reserve to conduct an exchange of 1.5 million barrels of crude oil …

Kampala, Uganda | THE INDEPENDENT |  The partners in the oil and gas industry in Uganda intend to supply solar energy to power the East African Crude Oil Pipeline in transporting crude from Hoima in western Uganda to Tanzania’s Tanga Port. The energy will be used at the six pump stations …

Kampala, Uganda | THE INDEPENDENT  |  The Ministry of Energy and Mineral Development has reiterated that no construction project in the oil and gas industry will take place until all affected persons have been compensated or resettled.  This comes after the governments of Uganda and Tanzania and the oil and gas …