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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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    Data: Iraq tops the list of crude suppliers to India by 847 thousand barrels per day

    Rocky
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    • Post n°1

    Data: Iraq tops the list of crude suppliers to India by 847 thousand barrels per day Empty Data: Iraq tops the list of crude suppliers to India by 847 thousand barrels per day

    Post by Rocky Wed 20 Jul 2016, 3:28 am

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    Data: Iraq tops the list of crude suppliers to India by 847 thousand barrels per day


     Baghdad / term 

    Global data showed on Tuesday, made ​​Iraq the list of suppliers of oil to India , surpassing Saudi Arabia , the first as the largest supplier of raw material for visits to a third of India 'sbiggest consumer in the world, with an Italian company was awarded a secondary contract worth $ 61.5 million in the Zubair Corporation Emirati specialized designs systems Engineering for oil projects. 
    According to Reuters , the agency said in a report seen by the "long", that " the usual practice that tops thelist of crude suppliers of Aramco 's state - owned Saudi oil to India Riyadh faces pressure to provide a larger reduction on crude prices to regain market share, especially ahead insertion planned for the company in thestock market. " 
    Iraqi oil and accounted for about 20 percent of India 's imports in the second quarter , up from 16 percent ayear ago , according to sources in the sector and tracking data traffic collected by Thomson Reuters. 
    fell share of Saudi Arabia in the Indian market during this period to about 18% from 20% last year, making Iraq outperforming the UK for the first time at the beginning of this year. 
    in the face of competition for market share reduced Aramco this month , the official selling price of light for itscrude in August to Asia highest pace in nine months , but analysts warned they may need to further reductions. 
    remained Aramco raise prices over the past four months , which has led some to believe that it is preparing to end its efforts to expand market share. 
    said Ihsan senior analyst right at KBC Energy Consulting in the United Kingdom "If Aramco wants to increase its market share would have to reach long - term agreements or raw display at a price more attractive compared to competitors. "He lost the largest oil producer within the Organization of Petroleum exporting countries (OPEC) ground in a number of major markets, including Russia and China , it also faces a threat from Iran that promote exports since the abolition of the sanctions that were imposed by the West. The decline in market share at a time when the kingdom is preparing for the inclusion of Saudi Aramco and other assets in the stock market in order to raise billions of dollars to help plug the budget deficit caused by low oil prices. 
    The increasing demand for Basra crude heavy Iraq by the Indian refining companies since so put type of last year 's crude. 
    and a lot of Indian refineries have the capacity to address these heavier crude types, which are also sold large a reduction in price compared to other crude types. in 
    addition, the Basrah heavy good also for the production of bitumen , which is used in road construction. 
    said B. .kih Namdio head of the refinery sector HPCL in reference to the versatility of Basra crude and heavy competitive price , "when you compare other heavy crude types of competition you find in the first place."However , the demand for Basra crude is likely to temporarily retreat during the separation of the current monsoon rains in India when it slows down road construction, "he added Namdio" The refiners may turn to raw types of competition such as Murban Arabian light crude. " 
    In the first quarter , extending from April to June India 's imports of Iraqi crude have risen by about 34 percent to 847 thousand barrels per day, while the volume of imports from Saudi Arabia amounted to 768 thousand barrels per day , according to what shown by the data. 
    but in June alone , India 's oil exports declined from Iraq by about 13 percent compared to the previous year where he regained Saudi Arabia , its position at the top of the list of suppliers in that month. 
    However, officials in the Indian refining companies said the "loading problems contributed to reduce oil imports from Iraq , demand is expected to return after the end of the rainy period of monsoon in September."
    in a related development awarded company (ENI Iraq BV Italian), a secondary contract at the Zubair field worth $ 61.5 million for Emirati specialized integrated engineering designs for the projects of oil and gas systems. 
    won the UAE company (Drake & Scull International), specialized integrated engineering design systems ,mechanical and electrical construction and infrastructure projects , oil and gas and which is based in theemirate of Dubai - based, to hold a secondary for the benefit of the company (ENI Iraq BV) Italian working in the Zubair oil field worth $ 61.5 million, to create a water pump network in the Zubair oil field project system in Basra , which is supervised by the Italian company, according to the website (Trade arabia) news ofeconomic topics. 
    Under the terms of the new contract , the UAE company will carry out the functions of supervision of the engineering, procurement and construction (EPC) system pipelines supplying gas to the power plant, as well as water , which includes water pipes, pipe main flow, and stations assembly and the work pressure systems control valves in the wells, which would facilitate the oil extraction operations, where the installation of theequipment operations began and the transfer of manpower to the project , which is expected site accomplished early in 2018. 
    the transfer of economic position of the General manager (Drake & Scull International) oil and gas Faris Khatib saying, " the winning a contract Zubair oil field is an important addition to the quality of the series of the company 's projects in the area, which falls within the framework of the secondary cooperation with thecompany (ENI Iraq BV) Italian." 
    he said Khatib, " the contract is the second with the Italian company in the Zubair field after a decade in 2012 completed through D pipeline project was completed in 2015 on time to him, "she returned to" experience theprevious successful experience with the Italian oil company ENI in Zubair field, will be a solid pillar for thecompletion of the new contract form in which it amounted to the highest levels and the deadline him with thebeginning 2018 year. "
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