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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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The danger engulfs 70% of Iraq’s oil exports. A possible loss of Asian markets, and Iraq’s port to E

rocky
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The danger engulfs 70% of Iraq’s oil exports. A possible loss of Asian markets, and Iraq’s port to E Empty The danger engulfs 70% of Iraq’s oil exports. A possible loss of Asian markets, and Iraq’s port to E

Post by rocky Thu May 12, 2022 11:27 am


[size=30]The danger engulfs 70% of Iraq’s oil exports. A possible loss of Asian markets, and Iraq’s port to Europe is sufficient to export 5% of the quantities threatened with “accumulation.”


2022-05-12
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Yes Iraq: Baghdad

As expected by previous reports prepared by "Yassin Iraq", worrying indicators about the fate of nearly 70% of Iraq's oil exports began to deepen, with Russian oil beginning to "gnaw" parts of Iraq's oil share in the Indian and Chinese Asian markets, until recent statistical reports showed the departure of Iraq. List of the ten most exported by independent Chinese refineries, a country to which Iraq exports about 30% of its exports.
 
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Statistics published by the Chinese Customs Administration showed that Iraq exited from the 10 major oil-exporting countries to the 32 independent Chinese refineries during the month of April of 2022.
And the administration showed in a statistic that "independent refiners in China increased their capture of Russian crude oil with attractive prices, as imports of Russian crude oil from independent Chinese refiners recovered 35.7% year-on-year to reach 2 million metric tons in April," more than 14 million barrels.
And she added, "Iraq was not among the top ten countries exporting oil to independent Chinese refineries in April," while Iraq came sixth in total oil exports to independent Chinese refineries for the four months of 2022, at 26.738 million barrels, which means about 225 thousand barrels per day.
 
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Iraq's decline in the list of major exporters to independent Chinese refineries, makes one million barrels per day of Iraq's oil exports at risk, or nearly 30% of its daily exports.
This coincides with the “complaint” of Indian refineries about the rise in Iraqi crude oil prices last April, with the entry of Russian oil, which is strongly competing with Iraqi oil in Asian markets, with price discounts offered by Russia for its crude oil.
Iraq exports to India 1.3 million barrels per day, which is approximately 40% of the daily Iraqi exports.
While the first indications of damage to 30% of Iraq's oil exports, which go to the Chinese market, began with Iraq's decline in the list of major exporters to independent Chinese refineries, it is not known whether similar data will be issued about Iraq's oil exports to India, to verify concerns regarding With 70% of Iraq's oil exports, which go to Asian markets.
 
Cannot be compensated in Western markets
With these concerns about the future of Iraqi oil in Asian markets, indicators may seem reassuring about the possibility of “market exchange” and Iraq going with its oil exports around Western markets to compensate for what it might lose in Asian markets, especially with Europe’s ban on Russian oil, and the possibility that Iraq would take the share of Russian oil there. .
And the American “CNN” website published a report in which it was considered that Iraq may not be able to compensate for the shortage of Russian oil in Europe as well as the rest of the Middle East countries.
Among the reasons is that Iraq is unable to raise its production more than 4.3 million barrels, and therefore cannot compensate for a good part of the shortfall caused by the Russian oil embargo, which amounts to about 2.2 million barrels in European markets.
However, with the decline of Iraq's share in the Asian markets, Iraq does not need to raise its oil production to compensate for the Russian shortage in European markets, but rather by redirecting its exports, which may be "dispensed" by Asian markets, to direct them towards European markets.
The amount of Russian oil shortage in European markets is exactly equal to what Iraq exports to Asian markets, but obstacles related to Iraq may prevent it from acquiring Russia’s share in European markets, and these obstacles are represented in Iraq not having a huge export port to Europe, where the Iraqi export port is limited To the west on the Kirkuk pipeline going to the Turkish port of Ceyhan, which has an export capacity of 100,000 barrels per day, or only 5%, of what Europe needs of oil instead of Russian oil, while Iraq will have another outlet, which is to run ships through the water port from the ports of Basra and a journey Long towards the Red Sea and the Suez Canal.
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