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Saudi Arabia Heavy 27° Saudi Arabia: Saudi Arabia Light 34° Saudi Arabia: Saudi Arabia Medium 31° Saudi Arabia: Saxi Batuque Blend 32.8° 0.32% ExxonMobil: Angola: Saxi Batuque FPSO offshore Schiehallion Blend 25.5° 0.47% BP: United Kingdom: Sullom Voe: Senipah 51.9° 0.03% Indonesia: Senipah: Seria Light 36.2° 0.08% Brunei: Seria Light ...
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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.
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. [1] The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. [1]
Oil prices hit a new high for the year so far after Saudi Arabia and Russia — the world’s biggest crude exporters — said they would extend output cuts by at least another three months ...
Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa. [1] Headquartered in Singapore, it is also the brand name of non-Chevron petroleum companies in some countries (such as New Zealand, and previously Australia and South Africa) under a trademark licensing agreement with Chevron.
When acting as such, the Saudi government would increase or decrease oil production to maintain a more stable price. [7] Saudi Arabia produced 10.3 million barrels per day (1.6 × 10 ^ 6 m 3 /d) (Mbbl/d) in 1980, 10.6 Mbbl/d in 2006, [8] and in the region of 9.2 Mbbl/d in 2008. [9]
As of 2012 petrol in Saudi Arabia was sold at a price cheaper than bottled water—approximately US$0.13 per litre ($0.50 per US gallon). [16] According to Jim Krane, "Saudi Arabia now consumes more oil than Germany, an industrialized country with triple the population and an economy nearly five times as large."