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  1. Iraq: Record Exports, But Contract Reform Hangs In The Balance

    ...ports of 3.535mn b/d in December. This edged out December 2016’s previous record of 3.519mn b/d. With average crude export prices averaging a more than three-year high of $59.29/B, revenues of $6.496bn were the most since September 2014. Full-year revenues of $59.3bn were the highest since 2014’s $84...

    Volume: 61
    Issue: 01
    Published at Fri, 05 Jan 2018

  2. China LNG Buying At Record Levels, Prices At 3-Year High

    ...ns seen in 2013 and 2014. •  Each of the top three importers stepped up buying in December, with a continuing period of sub-zero temperatures across much of Korea and Japan combining with the record Chinese buying. •  Spot prices rose to $11.20/mn BTU in late December and early January, ac...

    Volume: 61
    Issue: 01
    Published at Fri, 05 Jan 2018

  3. Saudi Hikes Gasoline Prices, Hard On Heels Of Electricity Tariffs Rise

    ...erage household consumed 2,000kWh/month in 2014. Until this year such users paid just SR100 ($27)/month given that the first 2,000kWh/month of consumption was charged at SR0.05/kWh. From 1 January they will pay SR360 ($96)/month, a more than threefold increase. But with the price for usage above 6,...

    Volume: 61
    Issue: 01
    Published at Fri, 05 Jan 2018

  4. The USA: The Global Oil Trade Titan

    ...e charts, p16). The provisional December crude output figure of 9.77mn b/d is up almost exactly 1mn b/d year-on-year; add in NGLs and output gains during calendar 2017 are 1.4mn b/d, second only to 2014’s record 2mn b/d growth. The vast bulk of these gains are light oil: of course NGLs, largely th...

    Volume: 61
    Issue: 01
    Published at Fri, 05 Jan 2018

  5. Qatar Petroleum Presses Ahead With Shakeup

    ...7bn thanks to the startup of the 146,000 b/d Ras Laffan 2 condensate splitter. If it wasn’t for technical problems forcing a temporary shutdown at Ras Laffan 1 in April, the revenue gains would have been higher. November’s $630mn products’ revenue was the highest since July 2014.  IOCS IN QATAR’S CR...

    Volume: 61
    Issue: 01
    Published at Fri, 05 Jan 2018