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Honeywell UOP technology selected for new 300K bpd oil refinery in Iraq

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The Iraq State Company for Oil Projects (SCOP), under the Ministry of Oil for Iraq, has selected Honeywell’s UOP to provide key technologies to process 300,000 barrels per day (bpd) of domestic crude oil into gasoline and diesel fuel at a new refinery in Nassiriya, Iraq.

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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. The release is by far the largest yet from the national reserves.

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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.

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The 5 Countries That Could Push Oil Prices Up

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Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. The most near-term supply risk comes from Iraq. Secretary of State Rex Tillerson went to lengths recently to assure European officials that it wouldn’t block business between European companies and Iran.

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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. The cartel would have never used the language “exports” in a deal to cut supply, because cutting their exports would mean they would hold a smaller market share. But Iraq is uniquely positioned.

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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: Is Russia Plotting To Bring Down OPEC?

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Russia supplied about 30 percent (146.6 The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oil prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects.

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