Upper Zakum
Upper Zakum Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-17 | $83 | 606 | 616 | 1.97 |
| 2023-02-16 | $85 | 620 | 630 | 2.01 |
| 2023-02-15 | $83 | 612 | 622 | 1.99 |
| 2023-02-14 | $85 | 624 | 634 | 2.03 |
| 2023-02-13 | $84 | 618 | 628 | 2.01 |
| 2023-02-10 | $82 | 604 | 614 | 1.96 |
| 2023-02-09 | $83 | 609 | 619 | 1.98 |
| 2023-02-08 | $81 | 597 | 607 | 1.94 |
| 2023-02-07 | $80 | 587 | 597 | 1.91 |
| 2023-02-06 | $78 | 571 | 581 | 1.86 |
| 2023-02-03 | $80 | 586 | 596 | 1.9 |
| 2023-02-02 | $81 | 593 | 603 | 1.93 |
| 2023-02-01 | $83 | 608 | 618 | 1.97 |
| 2023-01-31 | $81 | 594 | 604 | 1.93 |
| 2023-01-30 | $82 | 602 | 612 | 1.96 |
| 2023-01-27 | $85 | 622 | 632 | 2.02 |
| 2023-01-26 | $84 | 613 | 623 | 1.99 |
| 2023-01-25 | $84 | 615 | 626 | 2 |
| 2023-01-24 | $85 | 626 | 636 | 2.03 |
| 2023-01-23 | $85 | 623 | 633 | 2.02 |
| 2023-01-20 | $84 | 615 | 625 | 2 |
| 2023-01-19 | $81 | 596 | 606 | 1.94 |
| 2023-01-18 | $84 | 619 | 629 | 2.01 |
| 2023-01-17 | $82 | 605 | 615 | 1.96 |
| 2023-01-16 | $82 | 599 | 609 | 1.95 |
| 2023-01-13 | $81 | 590 | 600 | 1.92 |
| 2023-01-12 | $79 | 582 | 592 | 1.89 |
| 2023-01-11 | $76 | 559 | 568 | 1.82 |
| 2023-01-10 | $76 | 559 | 568 | 1.82 |
| 2023-01-06 | $76 | 555 | 564 | 1.8 |
Upper Zakum Historical price
- In 2019 maximum price $68 per bbl (2019-12-26)
- In 2020 maximum price $51 per bbl (2020-12-25)
- In 2021 maximum price $74 per bbl (2021-12-24)
- In 2022 maximum price $81 per bbl (2022-12-26)
- In 2023 maximum price $83 per bbl (2023-02-17)
Understanding Upper Zakum Crude Oil: An Overview
Upper Zakum crude oil is a type of crude oil that is extracted from the Upper Zakum oil field, located in the Arabian Gulf, approximately 84 kilometers northwest of Abu Dhabi. The Upper Zakum oil field is the second largest offshore oil field in the world, with estimated reserves of 50 billion barrels of crude oil.
The History of Upper Zakum Crude Oil
The Upper Zakum oil field was discovered in 1963 and began production in 1967. It was initially developed and operated by the Zakum Development Company (ZADCO), a joint venture between the Abu Dhabi National Oil Company (ADNOC), ExxonMobil, and Japan Oil Development Company (JODCO). In 2018, ADNOC assumed full operational control of the Upper Zakum oil field, making it the sole operator of the field.
The Significance of Upper Zakum Crude Oil
Upper Zakum crude oil is significant for several reasons. Firstly, it is one of the largest sources of crude oil in the world, making it a crucial component of the global oil market. Secondly, the oil produced from the Upper Zakum oil field is of high quality, with a low sulfur content and high API gravity. This makes it a highly sought-after crude oil for refineries, as it is easier to process and produces a high yield of refined products.
In addition to its economic significance, Upper Zakum crude oil also plays an important role in the energy security of the United Arab Emirates (UAE). The country is heavily dependent on oil exports, and the production of Upper Zakum crude oil helps to ensure the stability of the UAE's economy.
The Future of Upper Zakum Crude Oil
Looking forward, the future of Upper Zakum crude oil looks promising. ADNOC has announced plans to increase the production capacity of the Upper Zakum oil field to 1 million barrels per day (bpd) by 2024. This significant increase in production capacity will help to further solidify the UAE's position as a major player in the global oil market.
In conclusion, Upper Zakum crude oil is a critical component of the global oil market and a key contributor to the energy security and economic stability of the UAE. With plans for increased production capacity in the near future, the future of Upper Zakum crude oil looks bright.
Frequently Asked Questions about Upper Zakum Crude Oil
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What is Upper Zakum Crude Oil? Upper Zakum crude oil is a type of crude oil that is extracted from the Upper Zakum oil field located in the Arabian Gulf, approximately 84 kilometers northwest of Abu Dhabi.
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Where is the Upper Zakum oil field located? The Upper Zakum oil field is located in the Arabian Gulf, approximately 84 kilometers northwest of Abu Dhabi.
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Who operates the Upper Zakum oil field? The Upper Zakum oil field is operated by the Abu Dhabi National Oil Company (ADNOC).
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What is the significance of Upper Zakum crude oil? Upper Zakum crude oil is significant due to its high quality, with a low sulfur content and high API gravity, and its contribution to the energy security and economic stability of the UAE. It is also one of the largest sources of crude oil in the world.
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What is the future of Upper Zakum crude oil? The future of Upper Zakum crude oil looks promising with plans by ADNOC to increase production capacity to 1 million barrels per day (bpd) by 2024, solidifying the UAE's position as a major player in the global oil market.
Further Reading and Sources of Information
For more information about Upper Zakum crude oil, the following resources may be of interest:
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Abu Dhabi National Oil Company (ADNOC): The official website of ADNOC provides comprehensive information about the company's operations, including the Upper Zakum oil field.
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Upper Zakum Development Company (ZADCO): The former joint venture partner of the Upper Zakum oil field, ZADCO, provides a wealth of information about the history and development of the field on their website.
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Energy Information Administration (EIA): The EIA is a division of the U.S. Department of Energy and provides data and analysis on global energy markets, including information on crude oil production and reserves.
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World Oil: World Oil is a leading industry publication that provides news, analysis, and data on the global oil and gas industry, including information on major crude oil production regions and fields.
By exploring these resources, you can gain a deeper understanding of Upper Zakum crude oil and its importance in the global energy market.
