Oil production in China last year likely reached a peak of about 4.3 million barrels per day, according to the latest data and surveys of industry executives. As suggested by The Wall Street Journal, the oil industry of China is probably entering a new phase — long-term decline in domestic …
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World oil prices decline. This is according to electronic trading on the London and new York exchanges. On the new York Mercantile exchange (NYMEX), the October futures for light oil brand WTI rose by 1.15% to $47,31 per barrel. On London’s ICE Futures exchange futures for Brent crude for delivery …
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The Minister of oil of Iran Bijan Namdar Zanganeh on Thursday confirmed that it will participate in the September OPEC meeting in Algeria, according to Iranian news Agency SHANA. Iran, third largest oil producer of OPEC, sends positive signals that may participate in a joint effort to support the oil …
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Saudi Arabia surpassed Russia in oil production in June by 1.7 percent. According to Rosstat, published on Thursday, 25 August, Russian oil production dropped to 10.14 million barrels per day. However, Saudi Arabia in June, the daily was produced of 10.31 million barrels. The total production of the Organization of …
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Iraq, the second largest producer of OPEC production in July 2016 increased its average daily oil exports by 0.85% from the previous month to 3,203 million barrels a day. This is evidenced by the Iraqi state company State Oil Marketing Organization (SOMO). By the end of June the average daily …
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Iraq, second largest oil producer in OPEC, will take part in the informal meeting of countries exporting to Algeria from 26 to 28 September. This was stated by Deputy oil Minister Fayyad Nimes. According to him, the meeting will be attended by the Minister of oil of Iraq Jabbar al-Laibi …
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The US want to flood the world with shale fuel Almost two years ago, Saudi Arabia declared war on the producers of “unconventional” oil. First of all, the us shale industry. The Kingdom is seriously concerned about the rapid growth of production from new fields in the United States and …
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On the backdrop of a sharp drop in oil prices, some of the world’s largest energy companies suffer from extremely high debt levels. Debt of Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC and Chevron Corp. totaled $184 billion, which is twice the level of debt in 2014. Then …
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Kiev and Tehran are discussing the possibility of Iranian oil supplies to Ukrainian and European refineries. This was reported by Trend, citing a source in the Ministry of energy and coal industry of Ukraine. The route of oil supplies and economic details of the project are not specified yet. Earlier, …
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Commercial oil stocks in the United States (excluding strategic reserves) for the week ended August 19, unexpectedly rose 2.5 million barrels to 523,6 million barrels. Such data are contained in the review of the energy information administration of the country energy. Analysts polled by Reuters, on the contrary, believed that …
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