Home Tag "OPEC"

Oil Prices Jumps To Seven-week High on Strong Demand Recovery

Oil prices took a jump to the highest level in seven weeks on Tuesday, as the market continued to be propelled by economic and oil demand rebound in the United States and Europe. The losses from India, Brazil and other countries that are suffering hugely from the COVID-19 pandemic weren’t enough to stop the gains […]

Egypt Secures $114 million Fund for Construction of Largest Solar Plant

Egypt has secured funding for the construction of its largest solar plant from a consortium of lenders which includes the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development, the African Development Bank, the Green Climate Fund and Arab Bank with ACWA Power as developer and investor. The solar plant development […]

Oil firms may stake $30 billion on exploration this year

•As pressure rises over energy transition •Sub-Saharan Africa, others may witness increased exploration Globally, about $25 billion to $30 billion will be spent on oil exploration activities although cost efficiency challenges may slip by as much as 15 per cent.The revelation contained in a forecast released yesterday, by a global research firm, Wood Mackenzie, noted that energy […]

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