Parvin Faghfouri Azar

Oil Prices up over Supply Outages in Libya, Nigeria

Oil prices climbed on Friday, heading for gains for the seventh consecutive week over reports of supply disruptions in Libya and an explosion on an oil production ship off the coast of Nigeria. International benchmark Brent crude was trading at $91.44 per barrel at 0654 GMT with a 0.36% gain …

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ADNOC Announces Gas Discovery Offshore of Abu Dhabi

The Abu Dhabi National Oil Company (ADNOC) announced today the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni, indicate between 1.5 – 2 trillion standard cubic feet (TSCF) …

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U.S. Talks to China, Japan, India about Sending Gas to Europe

The U.S. and its European allies have approached several major natural-gas importers in Asia, including China, about sending their fuel to Europe if a conflict over Ukraine erupts, according to people familiar with the matter. President Joe Biden’s administration has spoken to officials in Japan, South Korea and India as …

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Oil Prices Take a Breather, OPEC+ Sticks to Output Plans

Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases, Trend reports with reference to Reuters. Brent crude fell 17 cents, or 0.2%, to $89.30 a barrel by 0420 GMT, after …

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Europe Faces Harsh Reality of Finding Russian Gas Irreplaceable

Energy-rich countries from Qatar to Azerbaijan have all pledged emergency gas supplies to Europe, but the region is quickly figuring out it can’t replace top supplier Russia. Ongoing tensions over Ukraine and the threat of a potential conflict interrupting energy flows to Europe have overshadowed the continent’s gas market in …

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