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Post-Sanctions Iran Courts Admirers
...OC) and that supply of crude oil would start immediately. No figures were provided, but prior to sanctions, Hellenic imported approximately 30% of its 310,000 b/d crude oil supply from Iran (approximately 93,000 b/d). In 2011, the last year before the EU embargo on oil purchases, Iran supplied Gr...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
Suez Canal Oil Transit Hits 2015 Peak But Revenues Fall
...s demand across Europe as a whole has fallen significantly in recent years, so that northward LNG transit was far short of the 37.98mn tons record of 2011. LPG transit northwards continued to decline, falling over 42% to 299,000 tons. One factor is Gulf LPG producers increasingly directing their ou...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
OPEC Risks Becoming An Irrelevance As Revenue Again Tanks
...gularly called $100/B-plus a ‘fair price.’ Even this week the same senior figure declined to resile from this. As Chatham House’s Glada Lahn notes, only 10 years ago Opec considered $30/B a fair price. But as prices rose, Opec members’ spending rose; and it ballooned in early 2011 amid the threat of co...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
OPEC Revenue Lowest For 11 Years; Markets Indicate Further Slide In 2016
...y from Egypt’s 2011 uprising, the economic factors that fed into Arab spring have mostly only got worse,” Ms Kinninmont says. This particularly applies to poorer oil-dependent economies such as Algeria. In Algeria and elsewhere the 2011 spending boost to provide insulation against Arab Spring co...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016