1977 world oil market chronology

January: OPEC goes to two-tier pricing (Saudi Arabia and United Arab Emirates use $12.09 per barrel and other OPEC countries use $12.70per barrel). U.S. oil imports from OPEC members averaged 285.355 thousand bpd.
May: Fifty percent of Saudi Arabia's 10 MMB/D production is halted briefly due to fire damage to separation facility in Abqaiq field. Prices increase slightly.
July: OPEC prices reunified at $12.70 per barrel as Saudi Arabia and UAE fall into line, then official price rises to $13.66 per barrel.
October 23: Dry dock complex opens at Bahrain; only facility between Portugal and Singapore capable of servicing VLCCs.

previous year: 1976 world oil market chronology	This article is part of the Chronology of world oil market events (1970-2005)	following year: 1978 world oil market chronology

This article is issued from Wikipedia - version of the 8/27/2014. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.