Oil prices fell and stocks rose after U.S. President Donald Trump said the country will not target Iran’s energy infrastructure over the next five days.
Browsing: gas
Attacks on oil and natural gas facilities have driven prices higher. UN shipping agency IMO calls for a safe navigation corridor in the Strait of Hormuz.
Oil prices rose sharply on Monday (9) amid the conflict between the United States and Israel against Iran. Since the attacks began, the price of a barrel of WTI has increased by 70%, something never recorded over such a short period.
Qatar’s Minister of State for Energy Affairs Saad bin Sherida Al Kaabi said the conflict could force Gulf states to stop producing and supplying energy within days.
Saudi oil company’s profit fell 2.3% in the third quarter of this year due to declining oil prices. Uncertain demand has been affecting the market.
TIC Quality Control is expected to open a branch in São Paulo in the second half of the year to offer quality control and inspection services to Brazilian companies.
The country produced 3.48 million barrels of oil per day in February, with the largest volume coming from offshore fields and the pre-salt layer.
Annual price inflation fell to 12.8% in February, down from 24% in January. Vegetable prices saw an 8.2% drop, while costs for water, electricity, and gas remained stable.
The Arab country signed a contract that will allow the production of 300 cubic meters of gas per day at the Mansouriya field. The minister of oil said new licensing rounds will enable the production of an additional 850 cubic meters of gas and 750,000 barrels of oil.
GDP growth is lower than that recorded in 2023 due to the slowdown in the extractive sector. In a meeting with local authorities, the fund released new disbursements to the country.
A major exporter of oil and gas, the Arab country recorded a trade surplus. Top imports were mineral products and machinery.
Arab country grossed OMF 6.2 billion in revenue in the second quarter of 2024, most of which, i.e., OMR 3.4 billion, coming from the oil sector.
Brazil’s Minister of Environment participated in event in Berlin with the presidents of COP28 and COP29, and climate officials. How to fast-track the enforcement of the Paris Agreement was part of the discussions.
