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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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    The Russian advance is “expanding” in the Asian market at the expense of Iraqi oil.. Baghdad loses 1

    Rocky
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    The Russian advance is “expanding” in the Asian market at the expense of Iraqi oil.. Baghdad loses 1 Empty The Russian advance is “expanding” in the Asian market at the expense of Iraqi oil.. Baghdad loses 1

    Post by Rocky Tue 12 Jul 2022, 5:32 am


    [size=30]The Russian advance is “expanding” in the Asian market at the expense of Iraqi oil.. Baghdad loses 137 thousand barrels per day in the Indian market

    2022-07-12
    [/size]
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    Yes Iraq: Baghdad

    The Russian advance and its acquisition of the Middle East's shares of oil in the Indian market began to become clearer, and the first blow to Iraqi oil was dealt with, whose exports to India declined by more than 10%, in contrast to the growth of Russian oil, which is close to displacing Iraqi oil from the forefront.
    India's oil imports from Russia jumped to a record level of about 950,000 barrels per day last June, which represents about one-fifth of the imports of the third largest oil consumer in the world, according to data provided by Indian trade.
    Indian refiners were buying Russian oil sold at deep discounts on Brent and Middle East crude after some companies and Western countries avoided buying from Moscow after it invaded Ukraine on February 24.
    The data showed that India shipped about 4.8 million barrels per day of oil in June, and the data showed that oil imports from Russia increased by 15.5% in June compared to May, while Iraq and Saudi Arabia’s imports fell by 10.5% and 13.5%, respectively, bringing the Middle East’s share to 56.5 % of 59.3%.
    Russia remained India's second largest oil supplier after Iraq, while Saudi Arabia remained third for the second month in a row.
    While Iraq exports 1.3 million barrels per day to India, the 10.5% decline in its exports to India means that Iraq has lost about 137 thousand barrels per day from its exports to India, at a time when Russia is approaching and may completely remove Iraq from the forefront of the Indian market.
     
    Cheaper Russian oil reduces losses to India's state-run refineries that sell fuel at low prices in the domestic market, while adding to the profits of private companies Reliance Industries Limited (RELI.NS) and Nayara Energy, which export most of their refined products.
     
    India, the world's third-largest oil importer, has defended its purchases of "cheap" Russian oil, saying it provides only a fraction of the country's overall needs, and a sudden stop will increase costs for consumers.
     
    The rise in oil imports from Russia reduced the share of OPEC in India's total imports to 65.2% during the quarter and 60.8% in June, and the data showed that the share of OPEC in India's oil imports has been declining since last March.

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