crude oil | Egypt Oil & Gas - Part 21
China’s Crude Oil Output Slips in First Half of 2016
According to the National Development and Reform Commission (NDRC), China’s crude oil output dropped by 4.8% year-on-year –to 100.45m tons in H1 of 2016.
Spain to Import 1m Barrels of Iranian Crude
Spain’s largest oil company, Repsol, has signed a contract with the Iranian oil ministry to purchase and import 1m barrels of Iranian crude oil in July 2016, according to a report from the ministry.
Iran Exports 2m Barrels of Crude to Poland
The director for international affairs at National Iranian Oil Company (NIOC), Mohsen Ghamsari, has declared that Poland’s Grupa Lotos has bought 2m barrels of Iran’s crude oil in a one-off purchase.
CBE Notes $3.7b Decrease in Egypt’s Export Proceeds
As a result of the declining oil prices that are witnessed on a global scope, Egypt’s export proceeds have decreased by $3.7b during the first nine months of fiscal year (FY) 2015/2016.
Russia, China Boost Energy Deals
Russia and China have sealed a number of energy deals during the Russian President, Vladimir Putin, most recent visit to Beijing.
Japan Eyes New Oil Suppliers
Japanese oil companies are expanding their network of crude oil suppliers, becoming less dependent on the Middle Eastern imports.
Venezuela’s Orinoco Oil Belt Increased Oil Production
The Venezuelan Minister of Petroleum and Mining, Eulogio del Pino, has declared that the daily production of crude oil from Orinoco Oil Belt has increased from 20,000 to 30,000 b/d, thus benefiting the whole region.
Shell Spills Nearly 2,100 Barrels of Oil into Gulf of Mexico
An oil spill from Royal Dutch Shell’s offshore Brutus platform has released 2,100 barrels of crude oil (88,200 gallons) into the US Gulf of Mexico.
