China’s refinery output hit a record in 2021, up 4.3% from 2020, on robust first-half fuel demand and as refiners ramped up processing to fill a supply gap after a hefty new tax closed loopholes in blending fuel imports. Total refinery throughput last year reached 703.55 million tonnes, or 14.07 …
Read More »China Set to Release Crude from Strategic Reserve in Early February
China has agreed with the United States to release crude from its strategic reserves around the Lunar New Year holiday on February 1, as part of the broader U.S.-led effort for strategic releases to bring oil prices down, sources with knowledge of the talks told Reuters on Friday. “China agreed …
Read More »Iraq’ Oil Exports to the United States Increased in Last Week
The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 317 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 5.153 bpd in the first week of January.” The top three source countries …
Read More »Sharara Oilfield Production Hits 190.000 bpd
Akakus oil operations company said oil production at Sharara oilfield had reached 190.000 barrels per day (bpd), adding that operation work was ongoing for the third day in a row by Libyans since the resumption of operations last Monday. The company expected that Sharara oilfield would reach its normal production …
Read More »US Withdraws Support from EastMed Gas Pipeline Project
The US has confirmed that it has decided to withdraw support from the EastMed gas pipeline project, which sought to transport Israeli natural gas to the European market via the Mediterranean Sea and Greece. The US Embassy in Athens reiterated its commitment to connecting energy in the Eastern Mediterranean to …
Read More »Equinor Makes Oil Discovery near Fram Field in Norwegian North Sea
Equinor and its partner Wellesley have discovered oil in the Troll and Fram area in the Norwegian North Sea, following the drilling of the exploration wells 35/10-7 S and 35/10-7 A. The discovery was made at the Toppand prospect, 8km west of the producing Fram field, in production licence 630 …
Read More »Output of China’s Bohai Sea Oil Field Reaches over 30m Tons, Largest in the Nation
The annual crude oil output of China’s Bohai Sea oil field reached 30.132 million tons in 2021, accounting for one seventh of the nation’s overall annual crude oil output and becoming the country’s largest oil field, the Xinhua News Agency reported on Sunday. The Bohai Sea oil field is operated …
Read More »Iraqi Oil Exports to China Decreased by 49,6% in December 2021
The Chinese customs department revealed that Iraq’s oil export to China had dropped in December 2021. The department’s statist showed that Iraq’s oil export decreased by 49,6% reaching 3.826 million barrels. However, the exports were up by 79.7% from the same month last year (2.130 million barrels). Iraqi oil export …
Read More »OPEC+ Set to Meet as Oil Group Edges toward End of Standoff
OPEC and its allies will meet on Sunday, the latest sign that a standoff between Saudi Arabia and the United Arab Emirates has been resolved. Oil ministers will meet at noon Vienna time and hold a press conference afterwards, the group confirmed. Officials have said privately in recent days that …
Read More »IEA will soon Free all Its Energy Data
If you’ve unlocked some recent International Energy Agency (IEA) data for a few thousand dollars, it could be the last time you are required to do so. The IEA is suggesting that it could make all its data and analyses free and available to all, Quantum Commodity Intelligence reported on …
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