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Last year, the ISPRL filled the SPRs with cheap oil and it needs to sell some of that to make way for leasing. Exclusive: India starts selling oil from strategic reserves after policy shift Skip ...
Consumers, keen to make up for lost time during COVID, are ignoring soaring inflation, high oil prices, and pricier airfares to travel this summer. Inflation, and oil, and flights, oh my!
ISPRL is a wholly owned subsidiary of the Oil Industry Development Board (OIDB), which functions under the administrative control of the Ministry of Petroleum and Natural Gas. ISPRL maintains an emergency fuel store of total 5.33 MMT (million metric tons) or 36.92 million barrels (5.870 million cubic metres ) of strategic crude oil enough to ...
The National Iranian Oil Company (NIOC) began construction of 15 crude oil storage tanks with a capacity of 10,000,000 barrels (1,600,000 m 3). [64] In August 2008, Iran announced plans to expand the SPR with a new facility on Kharg Island with four tanks holding 1,000,000 barrels (160,000 m 3) each. Iran's SPR facilities are:
As energy prices continue to climb, it makes sense to look for oil stocks to buy. Oil prices have been rising rapidly this year and are unlikely to stop anytime soon. Naturally, these high levels ...
In 1907, Standard Oil founder John D. Rockefeller acquired several hundred acres of the former Morse family estate between Linden and Elizabeth, New Jersey as the site for his latest refinery. Construction of temporary office buildings began on October 15, 1907 and work clearing the heavily wooded land began immediately.