Oil

Global oil demand may peak within the next 20 years.

Converting the plant’s catalytic conversion unit to a light naphtha isomerization unit by the refinery’s experts was aimed at converting light naphtha to isomerite products. which had cost the company €10 million.

The National Iranian Oil Company Exploration Directorate (NIOCEXP) has discovered a huge oil reserve with more than 50 billion barrels of crude. said President Hassan Rouhani on Sunday.

Iran’s South Zagros Oil and Gas Production Company (SZOGPC) has indigenized construction of borehole imagers which was previously monopolized by a few foreign companies.

According to the NIDC. the company’s director for consolidated planning said that it had carried out 99.349 meters of drilling operations during the period.

India has already outlined plans to sell some state-owned companies to local or foreign investors by March 2020.

Kuwait is currently the fourth-largest oil producer in OPEC.

US shale output is expected to reach 16.9 million bpd in 2024.

OTC had so far been awarded €3.6 billion in projects which had been fully delivered.