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On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
In the 1950s, shipping costs made up 33 percent of the price of oil transported from the Persian Gulf to the United States, [101] but due to the development of supertankers in the 1970s, the cost of shipping dropped to only 5 percent of the price of Persian oil in the US. [101]
There are five main oil refineries in Pakistan with a combined capacity of approximately 450,000 barrels of crude oil per day (bpd), equivalent to 20 million tonnes per annum. [8] Cnergyico PK Limited is the largest oil refiner, with its oil refining complex in the Balochistan province able to refine up to 156,000 barrels per day of crude oil ...
Pakistan State Oil is a Pakistani petroleum corporation involved in marketing and distribution of petroleum products. [3] It has a network of 3,689 petroleum filling stations , out of which 3500 outlets serve the public retail sector and 189 outlets serve wholesale bulk customers.
Dubai Crude is generally used for pricing Persian Gulf crude oil exports to Asia. The Dubai benchmark is also known as Fateh, used in the United Arab Emirates. [1] Forward trade of Dubai Crude is limited to one or two months. Dubai Crude is a medium oil. It has a gravity of 31° API (specific gravity of 0.871) and a sulfur content of 2%/weight. [2]
Attock Petroleum started its operations in 1998 and is third largest oil marketing company in Pakistan as of 2018. [5] [2] In 2005, Attock was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 57.75. [6] [7]
The Dubai Clean Energy Strategy aimed to provide 7% of Dubai's energy from clean energy sources by 2020 and planned to increase this target to 25 per cent by 2030 and 75 per cent by 2050. [5] The country, however, generated only 3,8% electricity from solar in 2020, reaching the target three years late.