Iraq beyond Saudi Arabia and become the largest source of heavy oil to India

by **Ponee** Tue Jul 19, 2016 7:32 am

{Baghdad: Euphrates News} Iraq's progress on Saudi Arabia and robbed of the position for the first time as the largest supplier of oil to India in the second quarter of this year, which ended last June, with the support of heavy crude a reduced sales price, which need the refineries to produce bitumen, which is used in the creation of roads in the third-largest oil consumer in the world.

Iraqi oil and accounted for about 20 percent of India 's imports in the second quarter , up from 16 percent a year ago. {According to sources in the sector and tracking data traffic collected by Thomson Reuters}.
And landed Arabia 's share in the Indian market during that period to about 18 percent from 20 percent last year , making Iraq outperforming the UK for the first time in a quarter full.
In the face of competition at stake market reduced Aramco {oil company Saudi} this month , the official selling price of light for its crude in August / August to Asia highest pace in nine months , but analysts warned that it may need to further reductions.

and increases the demand for Basra crude heavy by the Indian refining companies since launch the kind of last year 's crude.

and a lot of Indian refineries have the capacity to address these heavier crude types, which are also sold large a reduction in price compared to other crude types. in addition, the Basrah heavy good also for the production of bitumen , which is used in road construction. India is trying to build roads , 40 km { a length of 25 miles} per day during the current fiscal year as part of Prime Minister Narendra Modi 's efforts to improve the infrastructure.

The {PK Namdio} Prime refineries sector with HPCL in reference to the versatility of Basra crude heavy and a competitive price , "when you compare other types of heavy competition crude find in the first place." However , the demand for Basra crude is likely to temporarily retreat during the separation of the current monsoon rains in India when it slows down road construction.

He Namdio that refiners may turn to the crude types of competition such as Murban Arabian light crude.
In extending from April to June rose quarter India 's imports of crude from Iraq by about 34 percent to 847 thousand barrels per day, while the volume of imports from Saudi Arabia amounted to 768 thousand barrels per day , according to what shown by the data.

However , in June alone , Indian oil exports from Iraq have fallen by about 13 percent over the previous year , where Saudi Arabia has regained its place at the top of the list of suppliers in that month.
However, officials in the Indian refining companies said that the loading problems contributed to reduce oil imports from Iraq , demand is expected to return after the end of the monsoon period in September / Oilol.anthy

http://alforatnews.com/modules/news/article.php?storyid=122615

by **Ponee** Tue Jul 26, 2016 8:59 am

Iraq beyond Saudi Arabia and become the largest source of heavy oil to India

Iraq beyond Saudi Arabia and become the largest source of heavy oil to India

Re: Iraq beyond Saudi Arabia and become the largest source of heavy oil to India