1977 world oil market chronology

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• 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).
• 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.

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This article is part of the Chronology of world oil market events (1970-2005)

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Categories: History of the petroleum industry | 1977 | History stubs

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• This page was last modified 09:54, 28 August 2006 by Wikipedia user Tim!. Based on work by Wikipedia user(s) James086, Pearle, NorthernThunder, Melchoir, ProveIt, Mstroeck and Ambuj.Saxena.
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