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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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The US and other member states of the International Energy Agency (IA) agreed earlier in March to release 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine, with the US supplying 30 million. President George H. Bush authorized a drawdown of 33.75 2005 Hurricane Katrina Sale.

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An OPEC Deal Extension Isn’t As Simple As It Sounds

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And according to Iraq, the agreed-upon cuts have been all about exports all along. But Iraq is uniquely positioned. First, Iraq must contend with the Kurds, as well as international companies, with which it has production agreements that come with penalties for breeching. shale output at the higher oil prices.

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GECF: more than a quarter of 2050 natural gas supply untapped

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The two-day Oil and Gas of Turkmenistan 2020 conference was organized by the Government of Turkmenistan and attracted the participation of regional and international energy companies, including CNPC, Dragon Oil, SOCAR, ENI, ARETI, Schlumberger, Hyundai, among others. It is headquartered in Doha, Qatar.

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Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

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million barrels per day (b/d) in June, up 170,000 b/d from May and the fourth consecutive monthly increase since February, as Saudi Arabia and Iraq pushed out more oil, a Platts survey of OPEC and oil industry officials and analysts showed Monday. As well as Basrah Light, Iraq is now exporting the newly-introduced Basrah Heavy crude oil.

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Geely exports more than 100,000 vehicles in 2012; 164% year-on-year growth

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Zhejiang Geely Holding Group set a new export sales record in December with 11,000 cars being exported during the month, which also helped the company increase its export sales over the course of 2012 by 164%. Geely’s current major overseas markets include Ukraine, Russia, Iraq and Saudi Arabia.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. Russia already has extensive and close ties with Iran and Venezuela, and is now laying the basis for such ties with Iraq. Live by Energy….

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Opinion: How Much Longer Can OPEC Hold Out?

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OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. As per its state run oil company PDVSA, the country loses about $700 million a year with every $1 drop in the international oil price.