Oil

Libya boasts oil reserves of 41 billion barrels. perhaps the largest in Africa.

Reacting to the Total’s statement. Iranian Oil Minister Bijan Namdar Zanganeh said Total will lose all of its investment if it pulls out of the deal.

Total was the first Western oil major to sign a $4.8 billion deal with Iran in July 2017 to develop and operate phase 11 of Iran’s South Pars.

The comments from al-Falih were quickly met with pushback from the IEA’s top officials.

The Panama-registered Sanchi was carrying the equivalent of nearly 1 million barrels of ultra-light crude. plus its own fuel. to South Korea.

The European exporters are suffering the effects of a widening spread between Brent and Dubai.

Navigation authorities of the four countries agreed to carry out a joint research on the collision of the Iranian tanker and the Chinese freighter which took place on January 6

China will import 452 million tonnes. equivalent to 9 million bpd. in 2018.

Analysts believe the shift toward electric cars will decrease oil demand.

There’s an acceptance that the OPEC-led deal should extend beyond 2018. Falih said.