Page 16 - Pec News Today

Fawad says country could not increase exports by putting together SEZs

An initial squeeze on demand for Russian oil due to western sanctions was temporary but the country’s oil industry might have bigger problems.

The surprise attack by Hamas on Israeli cities that coincided with the 50th anniversary of the Yom Kippur War has evoked strong memories of the 1973 conflict and subsequent energy crisis. Will history repeat itself?

Saudi Arabia plans to continue voluntary oil production cuts for as long as necessary to ensure market stability, Saudi Energy Minister Prince Abdulaziz bin Salman stated on Thursday.

Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would “most likely” extend output cuts into 2024

The global oil market is currently balanced, but the situation is constantly changing, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

The major theme of Russian Energy Week-2023 is titled the "New Reality of Global Energy: Creating the Future." President Vladimir Putin outlined his nations view on the worlds most urgent energy issues and ways to overcome emerging crises.

Oil prices are on course to record their sharpest weekly decline since March as traders refocus on demand concerns even as OPEC+ continues to tighten supply.

Ongc: The oil and gas output has risen to 8.3 million metric tonnes of oil equivalent (mmtoe) in the April-August period from 8.1 mmtoe in the same period last fiscal year.

Oil prices began to recover on Thursday morning after the EIA’s latest inventory report sparked a dramatic drop in both WTI and Brent.