Iranian exports of crude oil and condensate have surged to levels near before sanctions. surprising market observers and affording the country an important victory in a US economic war on Tehran.
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The R&.D center will focus on the development of petrochemical products. materials. and energy efficiency.
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Sanctions can cut 500.000 bpd of Venezuelan exports.
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At the current price of USD 70 per barrel. the annual value of global oil output is USD 2.5 trillion.
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The change could add nearly 7 percent to the price used to determine the royalty.
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Natural gas consumption increased by 170 billion cubic meters in 2018 compared to 2017.
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Energy consumption worldwide grew by 2.3 percent in 2018.
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Iran’s production has declined by 860.000 bpd since the third quarter of 2018.
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The total refining capacity of the refinery will be 10 million tons.
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About 152.000 barrels day of gas condensates will be produced from the South Pars expansion.
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Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel