Basra Light crude imports to the Louisiana Offshore Oil Port (LOOP) have risen by more than 4.4 million barrels so far in April versus the same period in March, according to data from Platts Analytics and US Customs.
The majority of OPEC and independent oil producing countries support turning the OPEC non-OPEC agreement into a long-term producers’ alliance.
South Korean imports of Iranian crude oil dropped by 39.3% year-on-year (Y.o.Y) in March 2018, the county’s customs data showed.
Oman and Iran have agreed to finalize a cooperation pact for an offshore pipeline project from the Islamic Republic to Sohar Port in northern Oman.
The daily output from South Pars gas field will rise by 84 million cubic meters (mcm) to 654 million cubic meters per day (mcm/d) by late September 2018.
Indian company Essar Oil has paid $2.5 billion in debt to Iran.
Kuwait Oil Minister Bakhit Al-Rashidi said on April 16 that market conditions would determine whether OPEC's agreement with non-OPEC countries to cut oil production will extend beyond the end of 2018.
Iraq has postponed its bidding session for 11 new blocks until April 25, the bidding round was originally planned to take place on April 15.
Abu Dhabi National Oil Co. (ADNOC) plans to spend more than $109 billion over the next five years, and is in talks with Saudi Aramco for possible downstream joint ventures abroad, with a focus on Asia.
Saudi Aramco has agreed eight deals worth $10 billion with French companies during Crown Prince Mohammed bin Salman’s visit to France.
