Tag Archives: SHAFAQ News

The Energy Information Administration (EIA) Data showed that Iraq exported 134 bpd of oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 5.357 million bpd in the past week.” The top three source countries for U.S. import oil are Canada (3.410 million …

Saudi Arabia, the UAE and Iraq boosted their crude oil shipments to China last month, strengthening their share of a market that Russia has pushed into following the invasion of Ukraine. The Middle East producers loaded almost 4 million barrels a day of crude for Chinese buyers in October. With …

Iraq seeks to boost output from the Badra oilfield operated by Russia’s Gazprom Neft, a senior official at the Iraqi Ministry of Oil Ali al-Wardi said on Saturday. Speaking to Sputnik, al-Wardi said, “we have an old contract…Gazprom continues to work pursuant to this contract. We have plans to increase …

Oil prices’ headed to a second weekly loss in a row, as fears of economic slowdown persisted and offset hopes of rising oil demand from China. But crude is gaining support from a looming European Union ban on Russian oil, as well as the recent 2 million-barrels-per-day output cut agreed …

The Organization of Petroleum Exporting Countries (OPEC) and its allies can salvage the oil prices by reducing the output, expert Mohammad al-Husni said on Monday. “OPEC+ can control the prices if they agree on a huge cut on production in their October 5 meeting,” al-Husni told Shafaq News Agency. “A …

The Energy Information Administration (EIA) Data showed that Iraq exported 222 bpd of oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 5.782 million bpd in the past week.” The top three source countries for U.S. import oil are Canada (3.538 million …

Iraq collectively grossed 9.784 billion dollars from oil sales in August 2022, according to a survey by the state oil marketer, SOMO. Crude oil exports amounted to 101,959,528 barrels, yielding 9,784,000,000 dollars, the SOMO survey said. Exports from oilfields in Mid and south Iraq amounted to 100,750,000 barrels, while Kirkuk …

Iraq’s Mass Group Holding has bought Romania’s Mintia thermal power plant (TPP) from Hunedoara Energy Complex (CEH) for 91.2 million euro ($91 million) in a public auction, and plans to invest over 1 billion euro in the plant in the coming years, the company’s judicial administrator Expert Insolventa said on …

Oil prices dropped for a second session on Monday after the head of the world’s top exporter, Saudi Aramco, said it is ready to ramp up output while production at several offshore U.S. Gulf of Mexico platforms is resuming after a brief outage last week. Brent crude futures fell 27 …

India is among the top importers of crude oil, depending on foreign fuels to meet 85% of its requirements. And it seems to have put its overdependence on imported oil to its advantage when the Ukraine war pushed the fuel prices in the global markets. Saudi Arabia seems to have …