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...Last year, Aramco acquired a 10 per cent stake in Shenzhen-listed Rongsheng Petrochemical for $3.6bn and entered a venture with two other Chinese companies to build a 300,000 b/d refinery and petrochemicals...
...When it came to being in a band, I’d go and see a lot of bands and artists, and I’d take away things I didn’t want to do or be: reverse mentorship. At art school, a teacher called John Ross....
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...to 13mn b/d by 2027....
...responsible for 10 per cent of global supply, said it had been asked by the energy ministry to abandon a plan to increase the Kingdom’s maximum sustainable production capacity from 12mn barrels per day to 13mn b/d...
...“They have 3mn b/d of spare capacity now so what is the rush of increasing production capacity to 13mn b/d.”...
...Marc Filippino Tom Wilson is the FT’s natural resources editor. Thanks, Tom. Tom Wilson Thanks very much....
...The country pumped 13.3mn b/d of oil in November, the last month for which data is available from the Energy Information Administration, more than any country in history....
...It had previously forecast demand to grow by 1mn b/d in 2024....
...“I don’t need more resources in the United States and now would not be the time that I’d want to do it as I’d prefer to go countercyclical [and buy when oil prices are low],” he said....
...Harbour’s oil and gas production will rise from about 190,000 barrels a day to more than 500,000 b/d when the deal completes....
...Since then the country of 13mn people has had two coups d’état, four heads of state and three presidential elections....
...In 2023, however, oil demand is on track to average 102.2mn b/d — its highest ever annual level, according to the IEA....
...At full capacity, the refinery will process 650,000 b/d, which could transform the country into a net exporter of refined fuels....
...But in Wilson’s text, you’d scarcely notice the difference in these men’s verbal approaches. (Her extensive notes, alongside helpful ancient maps, are at least fastidious in justifying such choices.)...
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...Saudi Arabia’s oil output is likely to remain at 9mn b/d until the end of December, 25 per cent lower than its maximum capacity of 12mn b/d. Read more on oil here...
...and 360,000 b/d in 2025....
...There’d be adrenaline coursing through my veins. You know, I’d be literally buzzing and, you know, bouncing around. And nowadays it’s a very different story....
...Nasser expected global oil demand to average as much as 104mn b/d in the third quarter of 2023, 2.4mn b/d higher than in the same period last year, driven largely by increased demand in China....
...Yeats called her the betrayer of “all living hearts”; Shakespeare, a “strumpet”; Alexander Ross, “a deform’d soul”; Rupert Brooke, “a scold . . . shrill . . . gummy-eyed and impotent”....
...Iran exported 1.5mn b/d of crude to China in August, the most in a decade, according to ship tracking data provided by Kpler....
...Its output has been reduced from about 10.5mn b/d in April to about 9mn b/d, through a combination of Opec+ mandated production targets and its voluntary cuts....
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