IRAN'S OIL BENEFITS: 3.9 MBD
IRNA wrote, OPEC in its 171st ordinary meeting on Wednesday, November 30, agreed to Iran's share of 3.9 million barrels per day in its total output.
The petroleum ministers of the Organization of the Petroleum Exporting Countries (OPEC) have agreed to cut 1.2 million barrels a day from the Organization's present output.
The OPEC in its 171st ordinary meeting on Wednesday, November 30, reached the agreement for the first ever since 2008 to decrease its production, hence being able to implement the Algiers accord of September 28.
Based on the Algiers accord, the Organization was to minimize the production level to 32.5 million barrels per day to 33 million barrels per day.
The minus politicized OPEC decision proves that under difficult conditions important decisions still can be made and play a major role in the world energy market.
Predictions show that following the OPEC decision, oil price will reach 50 to 55 dollars a barrel.
Minister of Petroleum Bijan Zangeneh had prior to the OPEC session announced, 'If economic spirit governs the meeting of the oil and energy ministers of OPEC, we will reach decision very soon; however, if politics are to be involved, the decision making will be times very difficult.'
Per OPEC agreement on Wednesday, Saudi Arabia will cut its production by 500,000 barrels per day to the level of 10.6 million barrels per day.
|January, 22, 08:50:00|
|January, 22, 08:45:00|
|January, 22, 08:40:00|
|January, 22, 08:35:00|
|January, 22, 08:30:00|
|January, 22, 08:25:00|
WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.
WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.
WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.
PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.