Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2016-11-17 18:45:00

IRAN - SAUDI COMPETITION

IRAN - SAUDI COMPETITION

 

INDIA IRAN SAUDI MAP

 

REUTERS wrote, Iran overtook political rival Saudi Arabia as India's top oil supplier in October, shipping data showed, just ahead of a producers' meeting this month to hammer out the details on output cuts aimed at reining in a global glut. 

Iran used to be India's second-biggest oil supplier, a position it ceded to Iraq after tough Western sanctions over its nuclear development programme limited Tehran's exports and access to finance. 

But India's oil imports from Iran have shot up this year after those sanctions were lifted in January. In October they surged more than threefold compared with the same month last year, rising to 789,000 barrels per day (bpd).

That compares to 697,000 bpd supplied last month by Saudi Arabia. Over the whole January to October period, though, Saudi Arabia still holds India's top supply spot, at an average of 830,000 bpd versus Iraq's 784,000 bpd and Iran's 456,400 bpd.

Iran's surge to the No.1 spot is due partly to less available crude from Saudi Arabia, which has increased its capacity to refine oil instead of just exporting more crude.

"Saudi Arabia's refining capacity has increased over time so it is not in a position to increase its exports further, whereas Iran is better placed to raise its output and sales to India," said Ehsaan Ul Haq of U.K.-based consultancy KBC Energy.

The surge is also thanks to Iranian price discounts, which attracted purchases from India's programme to build up its strategic petroleum reserves (SPR). Last month India took in 2 million barrels of Iranian crude for the SPR stocks, and another 4 million barrels is expected to be shipped in November.

In the first seven months of its fiscal year, between April and October, India imported 523,200 bpd from Iran, compared to 249,100 bpd for the same period a year ago.

RETURNING BUYERS

Indian refiners including Reliance Industries Ltd, operator of the world's biggest refinery complex at Jamnagar, that had stopped imports from Iran during the sanctions period have also returned as buyers of Iranian oil.

Iran produces almost 4 million bpd of oil and exports 2.4 million bpd. Tehran's exports dropped to 1 million bpd during sanctions, down from a peak of almost 3 million bpd in 2011, before tougher Western sanctions were implemented.

Gaining the top position as oil supplier to the world's third-biggest importer, even if only for one month, comes at a sensitive time.

The Organization of the Petroleum Exporting Countries (OPEC) is due to meet on Nov. 30 to finalise a planned production cut aimed at propping up prices, which continue to languish below $50 per barrel due to oversupply.

Exemptions to the planned cuts were given to Libya and Nigeria, where output has suffered from conflict, and sanctions-hit Iran. Given Iran has now pipped de-facto OPEC leader Saudi Arabia in India, those exemptions might be more difficult to defend during the upcoming meeting.

-----

Earlier:

INDIA: 

RUSSIA - SAUDI COMPETITION 

INDIA'S LNG IMPORTS UP 33% 

ROSNEFT WILL BUY INDIA 

ROSNEFT SOLD $2 BLN 

6 MB IRANIAN OIL FOR INDIA

 

IRAN: 

IRAN - RUSSIA COOPERATION 

TOTAL & CNPC: IRANIAN DEAL 

IRAN READY TO FREEZE 

IRAN WANTS $200 BLN 

IRAN & RUSSIA: AREN'T RIVALS

 

SAUDI: 

SAUDI'S IPO $2 TLN 

SAUDI'S OIL RECORD 

RUSSIA & SAUDI COOPERATION 

SAUDI'S DIFFICULT DECICIONS 

SAUDI'S INVESTMENT: $334 BLN

 

 

 

 

Tags: IRAN, SAUDI, INDIA, OPEC,

Chronicle:

IRAN - SAUDI COMPETITION
2018, September, 26, 09:05:00

TOTAL: GAS FOR BRITAIN

OGJ - Total SA made a natural gas discovery on the Glendronach prospect offshore UK West of Shetland that it believes can be commercialized quickly and at low cost by leveraging the existing Laggan-Tormore infrastructure.

IRAN - SAUDI COMPETITION
2018, September, 26, 09:00:00

NOVATEK LNG FOR BRAZIL

NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its wholly owned subsidiary, NOVATEK Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.

IRAN - SAUDI COMPETITION
2018, September, 24, 15:35:00

OIL PRICE: NEAR $80

REUTERS - Benchmark Brent crude LCOc1 hit its highest since November 2014 at $80.94 per barrel, up $2.14 or 2.7 percent, before easing to around $80.75 by 1150 GMT. U.S. light crude CLc1 was $1.25 higher at $72.03.

IRAN - SAUDI COMPETITION
2018, September, 24, 15:30:00

BALANCED OIL MARKET

OPEC - The JMMC noted that, despite growing uncertainties surrounding market fundamentals, including the economy, demand and supply, the participating producing countries of the DoC continue to seek a balanced and sustainably stable global oil market, serving the interests of consumers, producers, the industry and the global economy at large. The Committee also expressed its satisfaction regarding the current oil market outlook, with an overall healthy balance between supply and demand.

All Publications »