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Opec+ In 2025: Navigating A Year Of Turbulence And Growth
...AR? Venezuela and Iran are not the only Opec members dealing with significant risks. Libya has struggled with huge political instability in the decade and a half following its 2011 civil war. With the country divided between two governments in the West and East, tensions between warring factions has of...
Volume: 69Issue: 02Published at Fri, 09 Jan 2026 -
2021 LNG Imports: Qatar Extends Lead In Korea But Edged Out In Taiwan
...erage price for December suggests a greater reliance on term cargoes. For 2021 as a whole average prices were well within the bounds of historical norms, however. Korea paid an average of $11.17/mn BTU, up almost $3.50/mn BTU on 2020 but below the average price each year for 2011-15. Taiwan paid an av...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Korea, Taiwan 2020 Crude Imports: Volumes Down, Mideast Down Further
...nual figure since 2011, with Q3’s 284,000 b/d the lowest quarterly figure since 2010. Number three Iraq saw volumes fall 34% to a six-year low 220,000 b/d, whilst number four the UAE saw a 15% fall to 206,000 b/d. *As recently as 2017, Iran was Korea’s number three supplier (behind Kuwait). Bu...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Opec Responds To Turbulent Start To 2020
...s, Opec exited 2019 with average production of 29.38mn b/d in December. This represented a massive 2.40mn b/d year-on-year decline. Over 2019 as a whole Opec production averaged 29.86mn b/d, down 2.18mn b/d on the 2018 average of 32.03mn b/d and the first time since 2011 that production has av...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Taiwan Makes Slow Progress In Cutting Gulf Crude Dependence
...nce 2011 whilst the 72.3% 4Q19 Gulf share was the lowest since 2010 and December’s 68.2% the lowest monthly figure since 2011. A TALE OF TWO REFINERS Taiwan’s 1.14mn b/d of crude distillation capacity is split between two refiners. And the two have markedly differing records in diversifying su...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Global LNG: China Challenges Japan As Top Importer
...ough here price will be a key factor. *As for Japanese LNG demand, the key variable has been the status of the country’s nuclear power fleet. Japan’s LNG imports peaked at 87-88mn t/y in 2012-14 in the wake of the 2011 Fukushima nuclear disaster which led to all of the country’s then-op...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
US Oil Output Soars: Did Opec Create A Frankenstein’s Monster?
...a share of demand rising from an annual average of 71.5% in 2017 to 77.1% in 2018 and 80.4% in 2019, and this despite demand continuing to rise over the forecast period. The US was reliant on imports to meet well over 50% of demand as recently as 2011. But a sub-plot is that the mismatch of bo...
Volume: 61Issue: 02Published at Fri, 12 Jan 2018 -
OPEC Output Recovers In December On Gulf Boosts
...nce September 2011 – when the country was still wracked by post-revolutionary turmoil. Protests at a number of Libya’s main oil fields and terminals continued throughout last month, severely disrupting supplies and keeping production at well below the near the 1.5mn b/d Libya was pumping earlier this ye...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Higher Oil Prices Adopted In 2013 Budgets
...imulus programs put in place to appease Arab Spring protestors. Higher market prices have also provided encouragement. The OPEC Basket price climbed to a yearly average of $109.45/B last year versus 2011’s $107.46/B. This means OPEC producers will surpass their 2011 record $1 trillion oil revenue ja...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013