crude oil

This tag is associated with 7 posts

Mexico’s Energy Profile – Analysis

By EIA Mexico is one of the largest producers of petroleum and other liquids in the world, the fourth-largest producer in the Americas after the United States, Canada, and Brazil, and an important partner in U.S. energy trade. In 2014, Mexico accounted for 781,000 b/d, or 11% of U.S. crude oil imports. Mexico’s oil production … Continue reading

Russia’s Energy Profile: Analysis Of The World’s Largest Crude Oil Producer

By EIA Russia is the world’s largest producer of crude oil (including lease condensate) and the second-largest producer of dry natural gas. Russia also produces significant amounts of coal. Russia’s economy is highly dependent on its hydrocarbons, and oil and natural gas revenues account for more than 50% of the federal budget revenues. Russia is … Continue reading

UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market

The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading

Iran To Build 48 Hydroelectric Power Plants In Indonesia Over Next Five Years

Iran and Indonesia have agreed to build 48 small-scale hydroelectric power plants as the two nations look to improve ties that have been hindered by sanctions over Tehran’s nuclear program. The hydroelectric power plants will be constructed in Indonesia by Iranian companies over the next five years, Iran’s Energy Minister Hamid Chitchian said following a conference with Indonesia’s Economy … Continue reading

China Eclipses U.S. To Become World’s Largest Importer Of Crude Oil

China has overtaken the U.S. as the world’s largest importer of crude oil for the first time, according to a report from the Financial Times (FT) on Sunday. Highlighting a seismic shift in global energy flows over the past decade, China has eclipsed the U.S. in April and has became the top global crude importer. According to the FT, Chinese … Continue reading

Iran To Build Oil Refineries In India, Brazil

Iran has been negotiating to build oil refineries in India and Brazil, and once agreements are reached, Iran will provide the crude oil for these new refineries, Iran’s Deputy Oil Minister said, Mehr News Agency reported on Sunday. The Iranian Deputy Oil Minister announced on Sunday that Iran and Brazil have signed a preliminary agreement to build a new refinery in … Continue reading

Venezuela Has Lost 30% In FX Dollar Revenues Amid Fall In Oil Prices, Maduro Says

Venezuela has lost 30% of its foreign exchange revenue in dollars over the last month as a result of a “tremendous” drop in oil prices, Venezuelan President Nicolas Maduro said during a nationally televised address from Caracas on Thursday night, Bloomberg reports. The average oil-export price for Venezuela last week fell to $72.80 per barrel, the … Continue reading

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