India to Launch 10th Round for Oil and Gas Blocks
NEW DELHI (Agencies): India is preparing to launch its tenth bidding round for oil and gas blocks in August or September, according to the Directorate General of Hydrocarbons (DGH). This…
The death of the petrodollar: What really happened between the US and Saudis?
It is said that works of fiction can often convey certain truths better than a newswire. That is perhaps the light in which to view reports circulating around the internet…
Biden may tap US strategic oil reserves – FT
WASHINGTON (Agencies): US President Joe Biden may order the release of more crude from the Strategic Petroleum Reserve (SPR) in an effort to tame rising gasoline prices and inflation ahead…
UPDATES: Iranian President’s Helicopter Crashes in East Azerbaijan Province
UPDATES: Marandi mentioned that Raisi had also planned to visit a few northern provinces, emphasizing that he travels extensively within the country. Iran has 30 provinces and Raisi has pledged…
Russia Explores Possibility of New Oil Pipeline to China
MOSCOW (Agencies): Russian President Vladimir Putin has revealed that an additional oil pipeline could accompany the planned mega gas pipeline from Russia to China. The proposed Power of Siberia 2…
Nigeria to Boost Economy with $1 Billion Oil-Backed Loan
Abuja (Agencies): Nigeria, Africa’s largest crude oil producer, is set to receive a $1 billion loan from the African Export-Import Bank (Afreximbank) as part of a larger crude oil prepayment…
US Pump Prices Set to Reach $4 a Gallon
NEW YORK (Agencies): As the U.S. summer driving season approaches, retail gasoline prices are poised to rise. Experts predict that the average national price could hit $4 a gallon, although…
India Considers Participation in New Russian Oil Ventures
NEW DELHI (Agencies): As the transition to renewable energy sources continues, crude oil remains a primary energy source, according to the chairman of a state-owned company. Oil India Limited, a…
Saudi Arabia opens its first liquor store
Tel Aviv (AP): A liquor store has opened in Saudi Arabia for the first time in over 70 years, a diplomat reported Wednesday, a further socially liberalizing step in the…
Goldman Sachs Warns of Possible Oil Prices Doubling Amid Red Sea Disruptions
NEW YORK (Agencies): In a recent interview with CNBC, Daan Struyven, Goldman Sachs’ head of oil research, cautioned that global crude oil prices could potentially double if disruptions caused by…