UAE pumped 2.4 million b/d in May in line with its OPEC+ quota: source
UAE’s new quota is 2.446 million b/d for May and June UAE will cut an extra 100,000 b/d in June The country is OPEC’s third-largest oil producer The UAE, OPEC’s Continue Reading
Saudi Arabia takes steps to revive economic growth stalled by pandemic, oil price crash
Saudi Arabia, the world’s largest crude exporter, has taken steps to revive economic growth hurt by the COVID-19 pandemic and oil price crash, including making an unprecedented transfer of government Continue Reading
Ethiopia’s Grand Ethiopian Renaissance Dam Latest
Ethiopia’s government vowed to continue work on a massive dam that’s stoked tensions with Egypt, even as the Horn of Africa nation contends with the growing spread of the coronavirus. Continue Reading
Nigeria News: Plan for the Second-Largest Hydro Plant in Africa
Nigeria will build the second-largest hydroelectric plant in Africa after the government settled a legal dispute that was delaying the project, Power Minister Sale Mamman said. “We have now overcome the Continue Reading
AS THE FUEL CRISIS WORSENS
THE National Oil Infrastructure Company of Zimbabwe (NOIC), Reserve Bank of Zimbabwe (RBZ) and the Zimbabwe Energy Regulatory Authority (Zera) are making concerted efforts to resolve the biting fuel crisis, Continue Reading
Indian states rush to identify high-risk zones to remain in lockdown
Indian states on Sunday began identifying high-risk zones where coronavirus lockdowns should continue while the rest of country gears up to reopen in June despite a record rise in COVID-19 Continue Reading
Two Iranian tankers sail back after delivering fuel to Venezuela
Two Iranian tankers that delivered fuel to Venezuela as part of a five-vessel flotilla have begun to sail back, according to Refinitiv Eikon, as the government of the South American Continue Reading
Venezuela raises fuel prices after arrival of Iranian oil tankers
Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Continue Reading
Trump’s sanctions are failing. Venezuela and Iran just proved it.
Iran and Venezuela have been moving closer together for years. The relationship began to flourish after Venezuela hosted the 2006 OPEC summit when then-Venezuelan President Hugo Chávez formed a personal Continue Reading
China’s Shift Away From Hard Growth Targets Hits Domestically and Globally
By ditching a formal economic growth target for this year, China’s leaders are acknowledging continued global uncertainty amid the coronavirus pandemic. But the move could also mark the beginning of Continue Reading