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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Saudi Aramco adds 1.9 million barrels to Japan's crude stocks

    Rocky
    Rocky
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    Saudi Aramco adds 1.9 million barrels to Japan's crude stocks Empty Saudi Aramco adds 1.9 million barrels to Japan's crude stocks

    Post by Rocky Tue Sep 12, 2017 5:01 am

    Saudi Aramco adds 1.9 million barrels to Japan's crude stocks

    Saudi Aramco adds 1.9 million barrels to Japan's crude stocks 2282
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    Saudi Aramco adds 1.9 million barrels to Japan's crude stocks Arrow Arab and international
    Economy News _ Baghdad
     Saudi Aramco will add 1.9 million barrels of crude to its reserves held in Japan on Wednesday, a ministry official said on Monday.
    The move comes as Japan lifts its crude storage capacity for Aramco free of charge by 30 percent to 8.2 million barrels this month under a prior agreement between the two countries.
    The extra storage capacity announced by Japan in July, the world's largest oil exporter, is helping to keep customers in North Asia amid global warming and relatively low prices.
    In return for the free storage in Okinawa in the south, Japan will have priority in drawing out stockpiles in case of emergency.
    The official, who asked not to be named, said the volume of oil held by Saudi Arabia in Japan now stands at 6.3 million barrels.
    Japan is the largest crude oil market in Saudi Arabia, but ore in Okinawa is being supplied to China, South Korea and others.
    Aramco has been storing crude in Okinawa since early 2011 free of charge.
    Japan has a similar storage agreement with Abu Dhabi National Oil (ADNOC), under which the UAE company can store 6.29 million barrels at Kerry's oil outlet in Kagoshima, southern Japan.
    Japan deals with Aramco and ADNOC stocks as quasi-government stocks accounting for half of the country's national strategic oil reserves.
    Aramco and ADNOC should fill at least half of the storage capacity at all times.



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