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Commodities Briefing - Categorized | Market Moves, Oil more

Short term oil market predictions from OPEC and the EIA

Posted on 29 April 2013

Just this month Saudi Aramco announced that production had begun at their Manifa oilfield, and by July would be supplying up to 500 kbd to the new refinery that is being built at Jamail with the collaboration of Total. The first oil from the refinery is expected to ship in August, and both projects are currently ahead of schedule.
Manifa will further increase in production next year, to 900 kbd, with the additional flow going to the Yanbu refinery being built with the collaboration of Sinopec. Both these refineries are designed to take heavy crude, and can also accept oil from the ongoing projects to expand production at Safaniya. Collectively this is said to ensure that the company will be able to achieve a maximum sustainable production of 12 mbd………………………………………..Full Article: Source


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VRS - who has written 42123 posts on Opalesque Commodities Briefing.


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