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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

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    Hurricane Mexico brings Iraq's oil sales back to 25%

    Rocky
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    • Post n°1

    Hurricane Mexico brings Iraq's oil sales back to 25% Empty Hurricane Mexico brings Iraq's oil sales back to 25%

    Post by Rocky Sun 26 Sep 2021, 10:28 am

    Hurricane Mexico brings Iraq's oil sales back to 25%

    •  Time: 09/26/2021 17:49:15
       
    •  Reading: 338 times

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    {Economic: Al Furat News} The oil expert, Hamza Al-Jawahiri, confirmed, on Sunday, that the direction of US oil refineries to Iraqi crude will restore the percentage of sales to 25%.
    The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
    Al-Jawahiri told Al-Furat News that "the oil sold to America and Europe only reaches the level of 17% of Iraqi oil sales, as announced in the past months."
    He pointed out that "the direction of American oil companies towards Iraqi crude will restore our oil sales to 25%, which is a good thing."   
    Al-Jawahiri stressed that "this trend will not affect the (OPEC) agreement, and that the trend to Iraqi oil by American refineries is a technical issue to fill the shortage, nothing more."
    The eyes of American oil refiners seeking to compensate for the lost crude after a storm that hit the Gulf of Mexico in the United States last month is directed towards Iraqi and Canadian oil, while Asian buyers seek to search for Russian and Middle Eastern crude.
    Royal Dutch Shell, the largest producer in the US Gulf of Mexico, said this week that damage to an offshore oil transportation facility due to Hurricane Ida will limit crude oil supplies from the Mars oil platform until early next year. This classification is largely used by Gulf US refineries and companies in South Korea and China, the two most important export destinations for Mars oil platform.
    The United States generally exports more than 3 million barrels per day of oil, mostly from the US Gulf Coast. With overall fuel demand rising to pre-pandemic levels, refineries will need to compensate for the shutdown of the Mars oil platform.
    The loss of up to 250 thousand barrels per day led some American refineries to search for alternatives to deliver the last quarter, especially the Iraqi Basra crude, and others received supplies of high-sulfur crude from American sources.
    Basra crude came to the fore during the previous turmoil. In 2019, when US sanctions on Venezuela cut heavy crude grades from refineries, Iraq quickly boosted its oil shipments and Canada's heavy oil suppliers also benefited.
    From: Raghad Daham / Tah: Wafaa Al-Fatlawy
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