Buy bitumen 80/100
Buy bitumen 80/100
How countries will buy bitumen 80/100 in the future?
In this following, we will talk about the future demands of the market,
the predictions, the prospective competency of countries to buy bitumen 80/100.
How Saudi Arabia will buy bitumen 80/100 in 2021?
According to Reuters, the International Energy Agency in its latest forecast estimates that
US oil production will increase next year due to falling prices. Earlier, the International Energy Agency
had anticipated a rise in US oil production for 2018 of 680,000 barrels per day;
But this time it declined the figure to 570,000 barrels per day;
present US oil production is 9.3 million barrels per day.
The International Energy Agency’s director, Howard Groenaspitch,
also said that the forecast for lower oil prices will change US oil production in 2021. On the other hand, the International Energy Agency estimates Brent oil prices at $ 52 a barrel next year,
down $ 4 from last month’s forecast. However, the International Energy Agency has reduced the growth
of US oil demand this year from 320,000 barrels per day to 310,000 barrels and has
declared that this figure will increase to 360 thousand barrels per day in 2018.
Saudi energy city is ready to buy bitumen 80/100 in 2021
In this regard, the Saudi Minister of Energy said:
the first phase of the new energy city of this country will be ready for operation in 2021.It’s important to know
that its annual revenue will be more than 22 billion dollars. Saudi Arabia’s Aramco oil company has announced
that it will complete the first phase of the country’s new energy industrial city in 2021.Moreover, Saudi officials announced that they had approved Aramco’s plans to start two new
companies to develop and operate the new city.
Generally speaking, the main goal of the Saudis with the construction of this new city is to develop industrial bases. That is to say, this industrial city in an area of more than 50 square kilometers
will be for energy-related industries and its first phase,
which consists of approximately 12 square kilometers of this city,
will be for operation in 2021.To this extent,
this industrial city is between Dammam and Ehsa districts,
which are the beating heart of energy-related operations.
Of course, Saudi Arabia seeks to reduce its dependence on oil and build new industries to increase job creation among Saudi youth. “The yearly income of this metropolitan city will reach $ 22.5 billion,
which will notably contribute to Saudi Arabia’s GDP and job creation in the country,” said Khalid al-Faleh,
Saudi Arabia’s energy minister and head of Aramco. He added: “This scheme will help Aramco’s projects;
at the same time, it reduces the costs of goods and services and meets the needs of the corporation. Al-Faleh stated that the development of the new industrial city will include
services such as drilling, investigation, production services and pipe.
