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  1. 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: 59
    Issue: 03
    Published at Fri, 22 Jan 2016

  2. 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: 59
    Issue: 03
    Published at Fri, 22 Jan 2016

  3. 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: 59
    Issue: 03
    Published at Fri, 22 Jan 2016

  4. 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: 59
    Issue: 03
    Published at Fri, 22 Jan 2016

  5. 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: 59
    Issue: 03
    Published at Fri, 22 Jan 2016