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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 UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”

    Rocky
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    The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude” Empty The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”

    Post by Rocky Wed 01 May 2024, 6:40 am

    The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”
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    Baghdad today - Baghdad
    Economist Nabil Al-Marsoumi confirmed today, Wednesday (May 1, 2024), that the UAE bought the cheaper Iraqi oil to increase its exports of its more expensive crude.
    Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Al-Youm”, that “the major oil company in the Emirates (ADNOC) purchased a shipment of about one million barrels of the cheapest Basra Heavy crude for the purpose of refining it in the Emirati Ruwais refinery, which is... Its refining capacity is 900,000 barrels per day, which is more than six times the capacity of the Karbala refinery.”
    Al-Marsoumi added, “This step allows the sale of more of its higher-valued crude (Murban), noting that “(Murban) crude is lighter and sweeter than most other Middle Eastern crudes, which means that it flows more easily and contains a lower sulfur percentage.” ". 
    "This makes it easier to refine and usually allows it to be sold at a higher price," he stressed.
    It is noteworthy that the Abu Dhabi National Oil Company “ADNOC” purchased a batch of Iraqi oil for the first time, in order to increase its exports of the premium type, which is sold at a higher price, and the demand for it is increasing in the United States and Asian countries due to its high content of medium distillates, according to “Bloomberg” agency. ".
    In early April, the ship Orient M transported about one million barrels of Basra Heavy oil from Iraq to the United Arab Emirates, according to the Russian TASS news agency.
    According to agency sources, the shipment was intended for the ADNOC oil refinery in Ruwais.
    The Emirati company had previously upgraded its plant in Ruwais so that it could process heavier grades of oil, including Iraqi Basra oil.
    It is worth noting that the Ruwais plant can process more than 900,000 barrels of oil per day to produce gasoline, diesel and jet fuel.
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