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Kenya Plans to Launch Crude Oil Exports in 2026

OilPrice

Kenya hopes it will begin commercial crude oil production and exports next year, Opiyo Wandayi, Cabinet Secretary for Energy and Petroleum, said on Monday, as companies are finalizing an asset sale and development project plans for an onshore resource basin.

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Nigeria’s Mega Refinery Halts Petroleum Sales in Naira

OilPrice

Nigerias Dangote Petroleum Refinery has suspended sales of petroleum in the country after it stopped receiving naira-denominated crude cargoes from the state-owned Nigerian National Petroleum Company (NNPC). To date, our sales of petroleum products in naira have

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EIA Paints Bearish Picture for Oil Market With Record Supply, Low Demand

OilPrice

crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. Total petroleum product supplieda broad proxy The increase reflects steady momentum from the Permian and Gulf Coast operatorseven as drilling activity slows elsewhere.

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OPEC Cuts Oil Production in March, Ahead of Ramp Up Plans

OilPrice

The Organization of Petroleum Exporting Countries (OPEC) reduced its crude oil production in March, ahead of its planned production increase for May, a new Bloomberg survey showed on Tuesday. OPEC reduced its crude oil production for March to an average of 27.43

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Record Refining Helps Saudi Oil Income amid Crude Price Decline

OilPrice

But theres a silver lining in falling crude prices profits from refining the crude rise with cheaper feedstock. Stronger refining margins and higher exports of petroleum products have generated more income

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OPEC+ Ships Record Fuel Volumes, Offsetting Some Crude Supply Curbs

OilPrice

The major oil producers in the Middle East are exporting record volumes of refined petroleum products, reducing the overall impact of their crude production cuts on the market, Reuters reports, citing flow-tracking data and analysts.

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Oil Prices Slip on a Saudi Price Cut and a U.S. Inventory Build

OilPrice

Crude oil prices reversed their trajectory from earlier this week, trending lower today after the American Petroleum Institute reported an estimated inventory rise in both gasoline and middle distillates, and Saudi Arabia cut its oil prices for Asian buyers to an almost four-year low. Brent crude was trading at $64.76