Tag: oil exports
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Iraq raises capacity of southern oil exports
Baghdad : The Iraqi Oil Ministry on Sunday announced it has increased the capacity to export oil from the southern port of Basra to 4.6 million barrels per day (bpd) after building a new floating terminal. “The increase in export capacity to unprecedented levels was achieved after the completion of the fifth floating terminal, which…
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Oil prices rally after Saudi Arabia’s announcement on exports
New York : Oil prices extended gains with the US crude posting best daily gain in two weeks, after Saudi Arabia said it would cut oil exports in November. The West Texas Intermediate for November delivery on Tuesday increased $1.34 to settle at $50.92 a barrel on the New York Mercantile Exchange, while Brent crude…
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China to restrict oil exports to N.Korea
Beijing : China on Saturday announced that it would restrict oil exports to North Korea from October 1 and also suspend textile imports from Pyongyang. The Ministry of Commerce will implement UN Security Council Resolution 2375 by halting the export of liquified natural gas and gas condensate and limit exports of refined oil, reports Xinhua…