The UAE’s Silwana Diamond has revealed an oil exploration agreement with Ada Energy, ADA Based in Guinea-Bissau, represented by the National Petroleum Corporation Petrogen, granting concession rights to the UAE Company to explore and extract oil from oil fields in the two regions. (4 And the 5) In Guinea-Bissau, the oil reserves in these two regions are estimated at about 3 Billions of barrels of crude oil 37% from the area of Guinea-Bissau.
Oil price hike
Oil prices rose on Wednesday, while Brent crude rose for the fifth consecutive session, as sentiment improved on the back of falling inventories and a recovery in demand after the Covid-19 virus pandemic.
Brent crude rose 27 cents 0.35% to me 74.26 dollars per barrel at the moment of preparing the report, the highest level since April/April 2019. On the other hand, US West Texas Intermediate crude fell 0.22% i.e. about 16 cents to 71.95 dollars per barrel.
Media ContactCompany Name: Silwana Channel Contact Person: Media RelationsEmail: Send EmailPhone: 74013568800Country: United KingdomWebsite: http://www.silwanaholding.ae/