Tag: million
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Energy sources: Saudi Arabia extends oil production cuts by one million barrels per day
Sources revealed that the Kingdom of Saudi Arabia is ready to announce, within a few days, the extension of the voluntary oil production cut by one million barrels per day, in the month of August (2023). And the sources indicated, in exclusive statements to the specialized energy platform, that the step of extending the production…
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Indian Oil Minister: We import one million barrels of oil per day from Iraq…and we are planning for more
Indian Oil Minister Hardeep Singh Puri confirmed that his country is seeking to increase its imports from Iraq, in order to raise the total Indian oil supplies, which currently amount to about one billion barrels. New Delhi places the highest priority on a multidimensional and comprehensive partnership with Baghdad. Puri headed his country’s delegation to…
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10 tenders to support oil production in Kuwait to 3 million barrels per day
Aiming to boost Kuwait’s oil production to 3 million barrels per day by 2025, up from 2.8 million barrels per day now, the Gulf state’s oil sector is preparing bids worth more than $700 million. Today, Sunday, June 18 (2023), the CEO of the Kuwait Oil Company, Ahmed Jaber Al-Aidan, announced his country’s commitment to…
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A report expects an increase in oil prices and a decrease in supply by 2 million barrels per day
A recent report sheds light on the developments in oil prices, according to global oil stocks that have not witnessed a decline due to the abundance of supply in the markets. The report – issued by the Swiss investment bank “UBS” – confirmed that although demand for oil remains strong, supply from several locations witnessed…
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America aims to buy 12 million barrels to fill the strategic oil reserve
US President Joe Biden’s administration intends to buy back more than 12 million barrels to fill the strategic oil reserve, which recorded a noticeable decline after Washington released millions of barrels last year to counter the sharp rise in oil prices against the backdrop of the Russian-Ukrainian war. The Biden administration aims to buy back…
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Chinese Unipec sales of Omani oil jumped to 8 million barrels in June
China’s Unipec company’s sales of Omani oil rose to a record level during the month of June, reaching 8 million barrels for loading in August, at a time when Saudi Arabia announced a reduction in oil production and an increase in official selling prices, as well as an increase in flows to China. Unipec did…
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Agency: Iraqi oil exports will not exceed 3.3 million barrels per day in May
Iraqi oil exports in May 2023 are expected to remain close to last month’s levels, given the continued suspension of production in the Kurdistan Region of Iraq and exports via Turkey. Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is “limited,” a senior Iraqi oil official told S&P Global…
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Iraqi oil export revenues jump by more than $390 million in April
Iraqi oil export revenues increased by about $392 million during the month of April (2023), compared to the previous month, March. Today, Tuesday, May 2 (2023), the Iraqi Ministry of Oil issued preliminary statistics on the quantities of oil that were exported from the country, and the revenues achieved during the month of April, according…
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The Sultanate of Oman’s production of oil and condensate exceeds one million barrels per day in February
The Sultanate of Oman’s production of crude oil and condensate exceeded the barrier of one million barrels per day, during last February. Recent data showed that the Sultanate of Oman’s production of crude oil and condensate, during the month of February, amounted to 29.7 million barrels, at a rate of 1.06 million barrels per day.…
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Revenues from Saudi oil exports decreased by 370 million dollars in January
Saudi oil export revenues decreased, during last January, on an annual basis, with the decline in oil prices compared to the same period in 2021. Official data – seen by the specialized energy platform – showed a decline in Saudi oil revenues in January, by approximately 1.7%, compared to the same period in 2022. The…
