Saurabh Aggarwal’s Post

It has been more than a year since Kurdish #crude exports via #Turkey have been offline, depriving the market of 450kb/d. While IOCs operating in Kurdistan faced production challenges throughout 2023, the growth of domestic sales helped offset some of the pressure. A new wave of buyers have now emerged in the Kurdish domestic market, helping prevent production shut-ins as well as complicating Iraq's efforts to meet its #OPEC+ quota commitments. Over the past several months, Kurdish crude production has inched higher, with current production levels est. at 290-295kb/d. How has Kurdistan's oil trade shifted since the March 2023 pipeline closure and who are the new buyers on the domestic market? Will Kurdish crude ever return to the market or will Iraq pivot instead on newfound hopes of rehabilitating its own pipeline from Kirkuk to Turkey? To receive a free copy of the Renaissance Energy Advisors note sent to clients today, please email: research@renaissance-energyadvisors.com. #iraq #crude #Kurdistan #OPEC #mediumsour #Med #trade #oil

Saudi Arabia exported 7.0 million b/d of crude oil in 2023. Crude oil and petroleum product exports from Saudi Arabia represented 34% and 26%, respectively, of OPEC exports in 2023. Saudi Arabia shipped 42% (6.2 million b/d) of the crude oil that transited the Strait of Hormuz in 2023. The Strait of Hormuz is the seaborne entrance to the Persian Gulf and one of the world’s most important oil transit chokepoints. Most exports of petroleum and natural gas from the Persian Gulf to Europe and North America pass through several chokepoints, including the Strait of Hormuz, the Suez Canal or the SUMED pipeline, and the Bab el-Mandeb. Saudi Arabia can circumvent the Strait of Hormuz and Bab El-Mandeb by transporting crude oil to the Red Sea via the country’s 5 million b/d East-West crude oil pipeline, which is temporarily expandable to 7 million b/d when needed. (Country Analysis Brief: Saudi Arabia – EIA (U.S. Energy Information Administration) – October 4th 2024) #SaudiArabia #SaudiArabiacrudeoilexports #OPEC #CrudeOilMarket #StraitofHormuz #SaudiArabiaseabornecrudeoilexports

Iraqi Kurdistan’s crude output has bounced back above 300,000 barrels per day, or around three-quarters of its volume before Turkey closed the main export pipeline around 16 months ago, according to industry sources. These volumes far exceed the semiautonomous region’s nameplate refining capacity, and more details are now emerging about operations to export some of the oil by truck to Iran. Learn more >> https://bit.ly/4690wm6 #Kurdistan #Iraq #refining #opecplus #crude #oil #oilmarkets #sanctions #geopoliticalrisk

Libya Reaches 1.3 Million bpd Oil Production, Eyes 2 Million bpd in Coming Years 👇 Libya has reached a significant milestone in oil production, achieving 1.3 million barrels per day (bpd) as of mid-October 2024. This marks a full recovery following recent disruptions caused by political tensions, particularly the central bank crisis earlier this year. The National Oil Corporation (NOC) attributed this swift rebound to the dedicated efforts of its workforce and the support of key stakeholders. The production figure includes both crude oil and condensates, reaffirming Libya's position as a key player in the global oil market. Follow Originco for regular updates on the Oil market: https://lnkd.in/gxyceeQC Written by Originco and published on EklipX Research #OOTT #Libya #oil #crude #trading

Oil extracted from hydrocarbon reservoirs , Iran, UAE , Kuwait, Oman, Yemen, Qatar for commercial use will be sold for 56 usd to 68usd per barrel for next 20 years  This will keep inflation low and support economic growth in G7 countries !  #oil  #governments  #institutionalinvestors

Iraq Halting Gasoline Imports. The Iraqi Ministry of Oil has achieved a significant milestone in reducing Iraq's reliance on foreign gasoline imports. Previously, Iraq imported 14 million liters of gasoline. With the Karbala refinery now operational, producing 7 million liters of high-octane gasoline, Iraq has cut imports by more than half! The North Refinery is set to begin operations soon. Additionally, on June 20th, the CCR unit in the North Refineries will launch, adding another 3.5 million liters of locally produced gasoline. This will further reduce our import needs to just 3.5 million liters, which can potentially be eliminated this year with the completion of ongoing projects. Recent Developments in the Filtration Sector: ✅ Karbala Refinery ✅ Baiji Refinery ✅ Fourth Unit in the South Refinery ✅ Isomerization Unit in the Southern Refinery ✅ FCC Project in Basra Governorate (to be completed next year) These advancements signify a robust shift towards self-sufficiency and energy security for Iraq. Proud to witness our nation's progress in achieving greater energy independence!   Kadhum Jabbar Business Consultant Masar Consulting Services www.KadhumJabbar.com #Kadhum_Jabbar #Consulting #MasarServ #Economy #Business #Iraq #Energy #Oil #Refinery #OilGas #SustainableFuture

The recent attacks by Iran on Israel have not directly impacted oil prices. However, should these hostilities escalate to the extent of potentially closing the Strait of Hormuz, a passage of only 33 km wide at its narrowest point, the repercussions for energy markets would be significant. This scenario is particularly concerning due to the lack of sufficient alternative routes for oil transportation from the region. To further illustrate the gravity of this situation, more than 30% of the global oil seaborne exports and 20% of the global #LNG flows pass through the Strait of Hormuz. Regarding the movement of oil in 2023, ports within the Persian Gulf exported a total of 5.67 billion barrels of crude oil (excluding Iran), equivalent to approximately 15.55 million barrels per day, accounting for 33% of the global crude oil transported by sea. It is clear that, should tensions escalate to the point of blocking the Strait, the impact on energy prices would be seismic. #marketinsights #dailyreport #maritime #shippingindustry #energymarket

𝗜𝗦𝗥𝗔𝗘𝗟-𝗜𝗥𝗔𝗡 & 𝗔𝗡𝗗 𝗧𝗛𝗘 𝗖𝗛𝗢𝗞𝗘𝗣𝗢𝗜𝗡𝗧𝗦 𝗗𝗜𝗟𝗘𝗠𝗠𝗔 The potential blockade of 𝐇𝐨𝐫𝐦𝐮𝐳 𝐒𝐭𝐫𝐚𝐢𝐭, through which more than 20 million barrels of oil and oil products pass per day, does not mean a complete cessation of Middle Eastern oil supplies to the world market. 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮 prepared for this already in 1982 during the Iran-Iraq war and built the COP East-West pipeline. This powerful pipe is capable of pumping up to 5 million barrels per day. With total exports of 7 million barrels per day, Saudi Arabia could retain up to 70% of its oil exports, shipments of which would simply leave the Persian Gulf for the Red Sea. In addition, Iran has its own access to the Gulf of Oman: the port of Chabahar, which is located south of the Strait of Hormuz. The port is small (8.5 million tons per year), but strategically important. But for other oil-exporting countries - Iraq, Bahrain, Oman, the United Arab Emirates and Kuwait, as well as Qatari gas - even a short-term blockade of Hormuz would have significant economic repercussions.

As you see in this post any case as you like, eight oil production companies can cover Egypt oil consumption and oil exporting also for Egypt. At least saving 12 billion dollar yearly cost of importing the crude oil and the oil products for Egypt. I do not consider the oil production and oil reserves for the remaining oil companies in Egypt. The MLC for me is Case No.1. The question now for Minister of Petroleum Is Egypt so rich country to import oil, while the remaining oil reserve can stop the oil importing and export oil also.

Saudi Arabia exports most of its oil reserves and petroleum fuels are huge contributors to the country's growing economy. Visit:- https://lnkd.in/dXddJSG4 #saudiarabiaoilexportdata #saudiarabiaoiltradedata #oilexportdata #oiltradedata #globaltradedata #globalcustomsdata #globalimportexportdata #importexportdata #importglobals