Agiba added around 6 million barrels of crude oil and 4.2 billion cf of natural gas to its recoverable reserves.
The storage terminal is located at the Ras Markaz on the southern coast of Oman. It is developed by Oman Tank Terminal Company (OTTCO), a subsidiary of OQ — the national integrated energy group.
Saudi Arabia plans to increase its crude oil selling prices starting August 2021. The increase will be for Asian, Mediterranean, and North European countries, as well as the US.
Valero Energy Corporation restarted the crude oil distillation unit (CDU) with its refineries Meraux, and Louisiana, which the company’s production reach 125,000 barrel per day (bbl/d), according to Reuters.
Data released from the US Census Bureau has shown that US sent the first shipment of crude oil to Saudi Arabia in June since the end of banning crude exports in 2015.