Sailing, Ports & Shipping
K enya's President Uhuru Kenyatta flagged off the country's first export shipment of oil Monday, more than 200,000 barrels of crude.
The oil exports begin an era of greater prosperity for Kenyans. The oil was purchased by a British-based Chinese company, according to a Kenyan government announcement, AP reported.
The shipment is an accumulation of oil produced since Kenya began pumping in June 2018 at up to 2,000 barrels a day.
The oil was trucked from Kenya's north to the coast in the Early Oil Pilot Scheme. A pipeline is being constructed to move the oil to Mombasa port.
Kenya expects to start commercial oil production in 2024 with production of up to 100,000 barrels a day.
Africa Oil and partner Tullow Oil first struck oil in the South Lokichar basin in northwest Kenya in 2012, where reserves are estimated at 600 million barrels.
Kish Island has high potential and capability to play a leading role in various industrial and economic fields especially oil, gas and petrochemical industries.
Iran’s deputy oil minister for engineering, research, and technology affairs said Oil Ministry is taking serious measures for improving standards in the oil industry, Shana reported on Tuesday.
Iran produced 2.086 million barrels per day (bpd) of oil in January, a 9,000-bpd decrease from 2.095 million bpd in December 2019, according to OPEC’s latest monthly report published on Wednesday.
As one of the world’s oil-rich countries, Iran, for long, has been deeply relied on oil revenues for its economy and even all the governments which have come and gone since the Islamic Revolution in 1979, have based their economic policies upon oil while other areas remained deprived of the attention.
Iran's gross domestic product, excluding the oil sector, is expected to register a positive growth rate of 1.8 percent in the current fiscal year (March 21, 2019-March 19, 2020), Majlis research center said in a report on Iran’s economy.
Deputy Director of National Iranian Oil Products Distribution Company (NIOPDC) says 36,000 vehicles of the country’s public transportation fleet are planned to become dual-fuel by the end of the current Iranian calendar year (March 19).