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Wison wins site preparation contract for refinery project in Venezuela; largest refinery PC project in Latin America by Chinese company

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The Deep Conversion Project will bring a qualitative change in the Puerto La Cruz refinery as it will process 210,000 bpd of heavy and extra heavy crude oil instead of 180,000 bpd of light and medium oil that is currently processing. The bulk of Venezuela’s oil reserves in the Orinoco Oil Belt is formed by heavy and extra heavy crude oil.

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Technip awarded contract for two hydrogen reformers in Venezuela to support expanded processing of Orinoco heavy crude

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Technip was awarded a “significant” contract to supply its proprietary technology as well as engineering and procurement services for two hydrogen reformers in Venezuela. The bulk of Venezuela’s oil reserves in the Orinoco Oil Belt is formed by heavy and extra heavy crude oil.

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EIA: Top 5 US crude oil suppliers account for 72% of total crude imports; highest proportion since 1997

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Crude oil imports from the top five foreign suppliers to the United States—which in 2012 were Canada, Saudi Arabia, Mexico, Venezuela, and Iraq, in that order—accounted for almost 72% of total US net crude oil imports, the highest proportion since 1997, according to the US Energy Information Administration (EIA).

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Opinion: How Much Longer Can OPEC Hold Out?

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However, OPEC has been in the line of fire from the western world in light of its stance of not reducing the production levels of its member nations (excluding Iran). Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Source: opec.org). Iraq’s Issues.

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US Lifted The Crude Oil Export Ban, And Exports Went Down

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The immediate beneficiaries of the ban suspension are gas and oil companies such as Chevron and Exxon Mobil—among the most tireless lobbyers against the ban—and oil trading giants such as Vitol Group BV and Trafigura Ltd Pet. crude oil is Venezuela. oil company to export U.S. Census Bureau. based Citgo Petroleum affiliate.

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Are The Saudis About To Reveal The Best Kept Secret In Oil?

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The decision to bring such important data to light comes as Saudi Aramco is preparing to partially privatize its assets, an IPO that could bring in some $100 billion. At the heart of the plan is spinning off roughly 5 percent of Saudi Aramco, the most valuable oil company in the world. That would include, “reserves.

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Opinion: The Saudi Oil Price War Is Backfiring

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India, which was earlier importing most of its crude oil from Saudi Arabia, is now changing its strategy and buying more crude oil from Nigeria, Iraq, Mexico and Venezuela. He has dealt with dealt with oil companies such as ONGC; Oil India limited IOCL, BPCL, HPCL and others. Is Saudi Arabia losing the oil price war? Source: [link].