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Oman’s Record Annual Output Can’t Mask Revenue Declines
...ereas in 2011 46.1% of Omani oil exports went to China, this had surged to 72.1% in 2014, before hitting 77.1% in 2015. And this is not just a percentage increase, volumes soared in the same period, nearly doubling from 336,000 b/d in 2011 to 651,000 last year. Being so reliant on a single customer is...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Korea Crude Imports Hit Record As Iraqi Volumes Double
...gime (with a waiver), South Korea has nevertheless consistently cut purchases since sanctions were ratcheted up in late 2011 and 2012. Volumes have fallen from 247,000 b/d in 2011, when Iran was Korea’s third biggest crude supplier, to just 114,000 b/d last year when it was number seven. As el...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Iran Return Sends Prices, Revenue Into The Deep Freeze
...mped up estimates of by how much and how quickly Iran can ramp up production and exports. MEES estimates that Iran produced 2.89mn b/d in December, little changed from average 2014 and 2015 levels but 700,000 b/d down on 3.6mn b/d 2011 volumes. Exports last year remained rangebound at 1....
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Libya: IS Attacks Continue, As Does Uncertainty Over Unity Government
...cording to Mr Sanalla, down from more than 600,000 b/d in March 2015, and 1.6mn b/d prior to 2011. The 155,000 b/d Brega port and the 150,000 b/d Hariga port, near Tobruk, are among only three operational export terminals in the country. The third is the Mellitah terminal in the northwest. Me...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Iran Cuts 2016-17 Budget In Real Terms Despite Expected Boon Of Sanctions Relief
...cause it focusses more on the issue of defense and security. It reportedly allocates nearly $40bn over the plan period to upgrade Iran’s military capabilities in order to deal with regional volatility. IMPORTERS OF IRANIAN CRUDE 2011-2015 (MN B/D) ...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Petroceltic Pares Capex On Lower Prices
...06. Their original development plan called for 20,000 b/d start-up in 2011 ramping up to 36,000 b/d later (MEES, 23 February 2009)....
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Saudi-UAE: The Start Of A Beautiful Relationship?
...rial campaign against the forces of the late Mu’ammar al-Qadhafi in Libya in 2011, became a more visible player in the Libyan civil war last year. When the US inadvertently revealed that UAE fighters had bombed Islamist rebels in Libya from bases in Egypt, it signaled the emergence of a new player in th...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Qatar Shelves $6.5bn Al-Karaana Project, QP Rethinking Ethane Usage
...rldwide. Shell says Al-Karaana was to be operated as a stand-alone joint venture, with QP holding 80% and Shell 20% of the equity. The partners signed a heads of agreement for the project in December 2011. QP-Shell awarded the Al-Karaana FEED project to US firm Fluor in early 2013. The plan was to produce et...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Algeria Ignores Storm Clouds With 2015 Budget
...amework should be revamped and fiscal policy should be placed on a more sustainable footing (MEES, 28 March 2014). ALGERIAN BUDGETS: 2011-15 (AD BN) 2015 vs ‘14...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
South Korean Crude Imports: OPEC Maintains 85% Share For 2014 (‘000 B/D)
...South Korean Crude Imports: OPEC Maintains 85% Share For 2014 (‘000 B/D) 2014 2014vs2013 2014vs2008 2013 2012 2011 20...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
US Oil Output Rises 15% To Hit Record 12.7mn B/D In 2014 But Growth Slows In Q4
...13 *2014 ‘000 b/d % 2013 2012 2011 2010 2009 2008 Dec-14* No...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Kurdish Oil Heads North But Not Yet To Sea
...aq to help us sustain the target production level beyond 2020,” Maersk Oil CEO Jakob Thomasen says. Maersk has been present in the KRG’s Sarsang block since 2011 with its 30% shareholding of HKN Energy. Exploration activity still dominates the scene in the north, though 2014 is expected to be...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Jordan Pushes Shale And Wind In Quest For Diversity
...barak overthrow of 2011, as the country has been massively reliant on expensive oil imports to fuel its rapidly-growing power demand ever since (see graphs). The Energy Ministry is studying an electricity tariff proposal from Attarat Power (Apco), a joint venture of Estonia’s Enefit, Malaysia’s YTL Po...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
OPEC Raises Up World Oil Demand Forecasts
....46mn b/d in November. This compares with a MEES estimate of 29.82mn b/d. World Oil Demand & Call On OPEC OPEC Projections Of Global Supply-Demand Balance (Mn B/D) Annual 2008 2009 2010 2011...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Egypt: Sisi In The Wings As Arab Spring Challenges Remain Center Stage
...re voting for a new constitution, the third in three years. Since the demonstrations in Tahrir Square ushered in the end of Husni Mubarak in February 2011 the country has been in turmoil, and its population has repeatedly been asked to choose or legitimize a successor regime. With no improvements to...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Tunisian Democracy Faces Economic Headwinds
...nuary 2011 ouster. But tensions have since risen with the assassination of two opposition politicians at the hands of radical Islamists, and the party was accused of tacit support for religious hardliners. After months of tense negotiations, Mr Larayedh agreed to step down, and his ministers will be re...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Zawiya Ups Libya Exports
...lonel Gaddafi from power in 2011. Output recovered remarkably quickly in the aftermath of the conflict, and briefly touched pre-war levels before the strikes at terminals and oil fields shut in the bulk of oil production from July 2013. Libya’s key eastern export terminals remain shut, with strikers lo...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
World Bank Ups Global Growth Prospects, MENA In The Doldrums
...owth Forecasts (% Market Prices) *2000-09 2010 2011 2012 2013 2014 2015 2016 Wo...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Benchmark Crude Prices
...13 2013 2012 2011 WTI 93.96 92.76 96.78 97.91 93.85 97.54 10...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
In Amenas Attack Highlights Algeria’s Vulnerability To Saharan Instability
...pressed their “full support for the government and people of Mali.” Certainly the alliance of al-Qaeda-linked Islamists and Tuareg rebels that seized control of northern Mali in early 2012 had their insurgency massively boosted by the flow of illicit arms from Libya’s 2011 conflict but this appears to be th...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013