After lead over Saudi Arabia .. Iraq's largest exporter of crude oil to India

[size=37]After lead over Saudi Arabia .. Iraq's largest exporter of crude oil to India[/size]


"Reuters" and he said in a report, and I followed (Il Giornale), that "the usual practice that tops the list of crude suppliers of Aramco's state-owned Saudi oil to India Riyadh faces pressure to provide a larger reduction on crude prices to regain market share, especially ahead of the insertion planned for the company in stock market".
In the face of competition for market share Aramco lowered this month, the official selling price of light sweet crude in August to Asia highest pace in nine months, but analysts warned that it may need to further reductions.
Aramco and remained raise prices over the past four months, which has led some to believe that it is preparing to end its efforts to expand market share.
Said chief analyst Ehsan right at KBC Energy Consulting in the United Kingdom "If Aramco wants to increase its market share would have to reach long-term agreements or raw display at a price more attractive compared to competitors."
And it lost the largest oil producer within the Organization of Petroleum Exporting Countries (OPEC) ground in a number of major markets, including Russia and China, it is also facing a threat from Iran, which promotes exports since the abolition of the sanctions that were imposed by the West.
The decline in market share at a time when the kingdom is preparing for the inclusion of Saudi Aramco and other assets in the stock market in order to raise billions of dollars to help plug the budget deficit caused by low oil prices.
Demand for heavy Iraqi Basra crude by Indian refiners increase since put that kind of crude last year.
And a lot of Indian refineries have the capacity to address these heavier types of crude, which also sold a large reduction in the price of crude compared to other types.
In addition, the heavy-Basrah also good for the production of bitumen, which is used in the construction of roads, India is trying to build roads along the 40 kilometers (25 miles) per day during the current fiscal year as part of Prime Minister Narendra Modi's efforts to improve the infrastructure.
He said PK Namdio Prime refineries sector with HPCL in reference to the versatility of Basra crude and heavy competitive price, "When you compare other competing crude types of heavy find in the first place." However, the demand for Basra crude is likely to temporarily retreat during the monsoon season current in India when the road construction is slowing down.
In extending from the April to June quarter, India's imports of crude from Iraq rose by 34% to 847 thousand barrels per day, while the volume of imports from Saudi Arabia amounted to 768 thousand barrels per day, according to the data shown.
But in June alone, Indian Oil exports from Iraq have fallen by about 13% over the previous year, where Saudi Arabia has regained its place at the top of the list of suppliers in that month.
Officials in the Indian refining companies that "loading problems contributed to reduce oil imports from Iraq, demand is expected to return after the end of the monsoon period in September" .anthy 3

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