Iran to Build Oil Storage Facility at Gulf of Oman
A National Iranian Oil Company (NIOC) subsidiary has signed an agreement with a domestic firm to construct a $232-million crude storage facility near Iran’s southeastern port of Jask.
A National Iranian Oil Company (NIOC) subsidiary has signed an agreement with a domestic firm to construct a $232-million crude storage facility near Iran’s southeastern port of Jask.
Iraq oil minister Jabar al-Luaibi stated that Iraq plans to raise oil production to more than 7.5 million barrels per day (b/d) by 2023-2024.
Iran is looking towards private companies to export its oil as part of its strategy to counter US sanctions, state media and officials announced on July 1.
The total value of Egypt’s fuel exports increased by $260 million year-on-year (YOY) in Q1 2018.
Saudi crude exports fell to 7.122 million barrels per day (mb/d) in March 2018 from 7.251 mb/d in February.
Iraq’s oil exports rose 11.5% in the year to March 2018.
The value of Egyptian fuel exports fell 0.2% year-on-year (Y.o.Y) to January 2018.
Iraq exported 3.453 million barrels per day (mb/d) of crude oil from its southern ports in March, a slight increase from the numbers for February, which marked the third month in a downward trend.
Iraq exported around 96 million barrels of oil in February 2018, generating revenues of $5.726 billion, the oil ministry has announced.
The Saudi Arabian Ministry of Energy has announced that crude exports will remain below 7 million barrels per day (mb/d) and crude production will stay under 10 mb/d during April 2018.