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Tag: Oil Barrels

Libya’s El Feel oilfield halts production, engineers say

Libya’s El Feel oilfield has halted output, say engineers, as closures spread amid a standoff over control of the central bank and the country’s oil revenue. On Monday authorities in the east of the country where most of its oilfields lie threatened to close them all, stepping up their standoff with the country’s internationally recognised…
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August 30, 2024
Niger Republic resumes export of crude oil to Benin ports through Chinese-funded pipeline

An agent with the West African Gas Pipeline Company (Wapco), which operates the pipeline, told Reuters that the Aura M, a Liberian-flagged crude oil tanker, had loaded around one million barrels of oil from Niger at the Benin port on Tuesday. The ship bound for China, where it was due to arrive on Oct. 10,…
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August 26, 2024
Nigeria Lost $46 Billion in Revenue to Oil Theft Over 12 Years

Nigeria lost 619.7 million barrels of oil valued at $46.16 billion over 12 years due to oil theft, according to the Nigeria Extractive Industries Transparency Initiative (NEITI). Additionally, $1.84 billion worth of petroleum products were lost from refineries over the nine years between 2009 and 2018. Within this period, the country lost 4.2 billion liters…
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July 17, 2024
Saudi Arabia Leads in Sharp Reduction of Offshore Oil Supplies

In June, Saudi Arabia drastically reduced its offshore oil supplies by 529,000 barrels per day (bpd), likely due to increased domestic demand driven by a heat wave. Ship tracking data shows that offshore supplies dropped by approximately 1.08 million barrels per day (mb/d). This monthly decline, the largest this year, saw Saudi Arabia contributing to…
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July 9, 2024