The total crude oil and condensate production in the Middle East in 2022 increased by 7.10% compared to 2021. In 2022, Saudi Arabia had the highest crude oil production, followed by Iraq and the UAE, according to GlobalData. Here is a list of the top crude oil-producing fields in the Middle East: Located approximately 100km west of Dhahran and 200km east of Riyadh in Saudi Arabia’s Al Hasa Province, Ghawar is the world’s biggest conventional
Crude oil prices have surged higher as we enter August, following an impressive performance in July. The impact of OPEC+ production cuts seems to be taking effect, as economic growth shows signs of picking up. The recent performance in the WTI futures market also suggests a positive outlook for oil prices. Last month, the WTI futures contract recorded a remarkable 15.80% increase, while the Brent contract gained 14.15%. Several factors have contributed to this surge
Kenya is boosting its advantage over Tanzania in its bid to provide petroleum products in the East African region, with the nation’s cabinet this week approving the Kenya Pipeline Company’s (KPC) acquisition of assets from the bankrupt Kenya Petroleum Refineries Ltd (KPRL). KPC is taking over KPRL’s 45 storage tanks, which have a capacity of 484 million liters, 254 million of which are designated for refined goods and the remaining 233 million liters for crude
Reports of Dangote refinery employing 11,000 Indians are currently trending on social media with many Nigerians expressing their frustration about the matter. According to a recent report by the Punch Newspaper, a Nigerian news agency, Dangote Refinery is said to have employed 11,000 Indians. Considering the rate of unemployment in the West African country, some Nigerians are outraged that Dangote has instead chosen to hire Indians. However, according to the report by Punch, this decision has been
Despite massive pressure from a number of rights and environmental organizations, TotalEnergies said last week that it has begun digging oil wells in Uganda. The Chinese National Offshore Oil Corporation (CNOOC) and TotalEnergies agreed to a $10 billion deal last year to develop Ugandan oilfields and transport the petroleum to Tanga, a port on Tanzania’s Indian Ocean, through a 1,445-kilometer pipeline. “Drilling began in July to start production in 2025”, TotalEnergies said. In Kampala, however, the
Oil is on track for a fifth straight weekly gain amid a tightening market outlook. However, prices slipped slightly in Asian trade on Friday due to speculation about Chinese stimulus measures and OPEC+ output cuts. Brent crude declined 29 cents (0.3%) to $83.95 per barrel by 0600 GMT but was still set for a 3.6% weekly increase. Similarly, U.S. West Texas Intermediate (WTI) crude dropped 27 cents (0.3%) to $79.82 per barrel but was also
Crude oil prices have rallied over 17 percent since bottoming. Retail traders are now majority short for the first time since April. This hints at an increasingly bullish contrarian conviction. Crude oil prices have rallied over 17 percent since bottoming in the middle of June. So far this month, WTI is up over 13%. If gains are sustained, this would mark the best 20-day period for oil since January 2022. In response, retail traders have
In 2022, Algeria represented the largest producer of natural gas in Africa, with output measured at a record 3.6 trillion cubic feet (tcf). The gas is exported both by pipeline and as liquefied natural gas, and its production has been largely driven by several major producing fields. Recent hydrocarbon discoveries in the country are set to increase output even further. Hassi R’Mel: 3.02 billion cf/d The Hassi R’Mel field, located in Laghouat, is both the
The global shift towards clean energy technologies has sparked an increase in demand for vital minerals, particularly nickel, which enhances the performance, longevity, and energy density of Electric Vehicles (EV) and energy storage solutions. In summary, Africa’s abundant nickel reserves, growing global demand, attractive government policies, untapped market potential, and the presence of strong partners make it an attractive destination for mining companies seeking stable and long-term supplies of this critical mineral.
Environmental issues are increasingly dominating discussions about the energy sector’s future. Climate change, illicit fishing, and pollution pose risks to the MSGBC coastline, which is rich in biodiversity. The PRCM works with governments, civil society actors, and the private sector, including oil companies, to influence decisions, organize training sessions, and promote environmental concerns in the oil and gas industry. Energy Capital & Power spoke with PRCM Executive Director Ahmed Senhoury about the advancements in environmental
