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OPEC s share of Indian oil imports plunges to 2 decade low: Trade | Hellenic Shipping News Worldwide

OPEC’s share of Indian oil imports plunges to 2 decade low: Trade OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed. Total crude imports by the world’s third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier, the data showed. India bought more U.S. and Canadian oil at the expense of that from Africa and the Middle East, reducing purchases from members of the Organization of the Petroleum Exporting Countries to around 2.86 million barrels per day and squeezing the group’s share of imports to 72% from around 80% previously.

Saudi Aramco Sees 30% Rise in 1Q Profit

Saudi Aramco Sees 30% Rise in 1Q Profit Hadeel Al Sayegh, Alexander Cornwell, Saeed Azhar May 4, 2021 (Photo: Saudi Aramco) State-run oil producer Saudi Aramco beat analysts forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year, as fuel demand recovers from the pandemic and as a global surplus of crude shrinks. Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming, Amin Nasser, chief executive of the world s top oil exporter, said in a statement.

Saudi Aramco s Q1 net profit up 30 per cent at $21 7 billion

Saudi Aramco’s Q1 net profit up 30 per cent at $21.7 billion 04 May 2021 A view of the Saudi Aramco’s Abqaiq oil processing plant. Agence France-Presse State-run oil producer Saudi Aramco beat analysts’ forecasts on Tuesday with a 30 per cent rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year, as fuel demand recovers from the pandemic and as a global surplus of crude shrinks. “Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming,” Amin Nasser, chief executive of the world’s top oil exporter, said in a statement.

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