For the first time .. Iraq ahead of Saudi Arabia as the largest supplier of crude to
Iraqi oil lines
For the first time .. Iraq ahead of Saudi Arabia as the largest supplier of crude to India
Roudao - ErbilGlobal data showed, made Iraq the list of suppliers of oil to India , surpassing Saudi Arabia , the first as the largest supplier of raw material for visits to a third of India 's biggest consumer in the world, with an Italian company was awarded a secondary contract worth $ 61.5 million in the Zubair Corporation Emirati specialized engineering designs for Oil Projects systems . Traditionally, that tops the list of crude suppliers of Aramco, Saudi Arabia's state-owned oil to India has been facing pressure from Riyadh to provide the largest reduction on crude prices to regain market share, especially ahead of the planned listing of the company on the stock exchange.
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.
Saudi Arabia's share in the Indian market fell during that period to about 18% from 20% last year, making Iraq outperforming the UK for the first time at the beginning of this year.
In the face of competition for market share Aramco lowered this month, the official selling price of light sweet crude in August to Asia highest pace in nine months, but analysts warned that it may need to further reductions.
Aramco and remained raise prices over the past four months, which has led some to believe that it is preparing to end its efforts to expand market share.
Said chief analyst Ehsan right at KBC Energy Consulting in the United Kingdom "If Aramco wants to increase its market share would have to reach long-term agreements or raw display at a price more attractive compared to competitors."
And it lost the largest oil producer within the Organization of Petroleum Exporting Countries (OPEC) ground in a number of major markets, including Russia and China, it is also facing a threat from Iran, which promotes exports since the abolition of the sanctions that were imposed by the West.
The decline in market share at a time when the kingdom is preparing for the inclusion of Saudi Aramco and other assets in the stock market in order to raise billions of dollars to help plug the budget deficit caused by low oil prices.
And increasing demand for heavy Iraqi Basra crude by Indian refiners have since put up the kind of crude last year.
And a lot of Indian refineries have the capacity to address these heavier types of crude, which also sold a large reduction in the price of crude compared to other types.
The head of the refinery sector with HPCL PK Namdio in reference to the versatility of Basra crude and heavy 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 fall temporarily separated during the current monsoon rains in India, when the road construction is slowing down, "he added Namdio that" refiners may turn to the crude types of competition such as Murban Arabian light crude. "
In the first quarter, extending from April to June and India's imports of Iraqi crude have risen 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 the data shown.
But 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.
But officials in the Indian refining companies said the "loading problems contributed to reduce oil imports from Iraq, demand is expected to return after the end of the period of seasonal rains in September."
In a related development awarded company (ENI Iraq BV) Italian, a secondary contract at the Zubair field worth $ 61.5 million to an Emirati company specialized integrated engineering designs for the projects of oil and gas systems.
And won the UAE company (Drake & Scull International), specialized integrated engineering design, mechanical and electrical construction and infrastructure projects, oil and gas, which is based in the emirate of Dubai-based systems, to hold a secondary in favor of the company (ENI Iraq BV) Italian working in the Zubair oil field worth $ 61.5 million , to create a water pump network in the Zubair oil field project system in Basra, which is supervised by the Italian company.
Under the terms of the new contract, the UAE company will carry out the functions of supervision of the engineering, procurement and construction (EPC) system pipelines supplying gas to the power plant, as well as water, which includes water pipes, pipe main flow, and stations assembly and acts of control valves in the wells pressure systems, which that will facilitate oil extraction operations, where the installation of the equipment operations began and the transfer of manpower to the project site, which is expected completion early 2018.
And the transfer of economic position of the General Manager (Drake & Scull International) Oil and Gas Faris Khatib as saying that "winning a contract Zubair oil field is an important addition to the quality of the series of the company's projects in the area, which falls within the framework of the secondary cooperation with the company (ENI Iraq BV) Italian" .
He said Khatib, "The contract is the second with the Italian company in the Zubair field after a decade in 2012 accomplished through a project to extend pipeline was completed in 2015 on time to him," she returned to "experience the previous successful experience with the Italian oil company ENI in Zubair, It will represent a solid pillar for the completion of the new contract form in which it amounted to the highest levels and the deadline him with the beginning of the year 2018 ".