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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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    Iraq loses more than a quarter of a billion dollars during October.. India's import of Iraqi oil dec

    Rocky
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    Iraq loses more than a quarter of a billion dollars during October.. India's import of Iraqi oil dec Empty Iraq loses more than a quarter of a billion dollars during October.. India's import of Iraqi oil dec

    Post by Rocky Fri 11 Nov 2022, 5:56 am


    [size=30]Iraq loses more than a quarter of a billion dollars during October.. India's import of Iraqi oil decreases by about 10%


    2022-11-11
    [/size]
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    Yes Iraq: Baghdad

    After Iraqi oil exports to India exceeded one million barrels per day over the past two years, last October recorded the largest drop in 20 months for the quantities that India imported from Iraqi oil, as they decreased to more than 900,000 barrels per day, in a decrease that led to Iraq losing export About 100,000 barrels per day.
     
    Preliminary data showed that India's imports of Iraqi oil recorded their lowest level in 20 months last October, as oil refiners continued to buy Russian crude at a reduced price and boosted their purchases of West African crudes.
    According to Reuters, the data showed that “India, the third largest importer and consumer of oil in the world, bought 907,500 barrels of oil per day in October from its largest supplier, Iraq, down 9.6 percent from the previous year, the lowest level since February 2021.
    The data also showed that "India's imports from Russia, New Delhi's second supplier, also slowed during this period, as Nayara Energy, partly owned by the major Russian oil company Rosneft, reduced purchases before maintenance at its refineries as of this month."
     
    According to this, Iraq lost 100,000 barrels per day of its exports to India, which is approximately 3 million barrels during the month of October, meaning that Iraq lost 265 million dollars (more than a quarter of a billion dollars) during last October due to the decline in its exports to India.
     
     
    data volatility
    Last October, the map of Iraqi oil's share in the Asian market fluctuated between India and China, as Iraq left the forefront of the Indian market and returned to the lead of the Chinese market.
    However, Reuters data, which indicates that Iraq exported more than 900,000 barrels per day during October to India, slightly contradicts previous data that said that Russian oil accounted for 22% and Iraqi oil accounted for 20.5% of India's oil imports during October.
    The data indicated that India’s imports of crude oil from Russia amounted to 946 thousand barrels per day during last October, representing Russian oil 22% of India’s total imports of crude oil, and according to this percentage, India imported 4.3 million barrels per day during October. Iraq's share of it was 20.5%. It is assumed that Iraq's oil exports to India amounted to only 881 thousand barrels per day, meaning that the percentage of decline in Iraqi oil exports to India amounted to about 12%, not 9.6%, as Reuters indicates.
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