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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


AN INDIAN COMPANY INCREASES ITS IMPORT OF IRAQI OIL BY 45%

rocky
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AN INDIAN COMPANY INCREASES ITS IMPORT OF IRAQI OIL BY 45% Empty AN INDIAN COMPANY INCREASES ITS IMPORT OF IRAQI OIL BY 45%

Post by rocky Mon 17 Jan 2022, 7:16 am

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AN INDIAN COMPANY INCREASES ITS IMPORT OF IRAQI OIL BY 45%
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Informed sources said that India's state-owned Hindustan Petroleum Corp. will increase its purchases of Iraqi oil by 45% this year to cover additional refining capabilities.
The sources said, according to Bloomberg, that the company will import 3.2 million tons, or about 64,000 barrels per day, from Iraq this year, up from 44,000 in 2021.
Neither the state-run Iraqi Oil Marketing Corporation (SOMO) nor Hindustan Petroleum Corporation responded to a Reuters request for comment.
Iraq is the main supplier of oil to India and the decision of the Indian company will lead to strengthening its position in the Indian market.
As the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC), Iraq will be able to increase its exports by up to 250 thousand barrels per day in the second quarter of the year after completing the construction of pumping stations at its ports on the Gulf.
Last year, M.K. Sorana, head of the Indian company, said that the company's imports of high-sulfur crude oil will increase after expanding the capacity of its refineries in Vizag from 166,000 barrels per day to 300,000 barrels per day by next March.
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