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Opec 2021 Revenues Rise At Highest Rate Since 1973-74 Oil Crisis
...llowing the 1973 Arab oil embargo. Despite last year’s extraordinary growth, revenues effectively just recovered to pre-Covid levels. And those are barely 50% of pre-2014 revenues of more than $1tn. But with Brent breaking above $90/B during intraday trading for the first time since 2014 on 26 Ja...
Volume: 65Issue: 04Published at Fri, 28 Jan 2022 -
Suez Canal Rides Us Shale Boom With 2019 Traffic & Revenue Records
...crementally risen from $5.5bn in 2014. Suez Canal revenues are one of Egypt’s key foreign exchange earners. The $5.7bn they brought in for the 2018-19 financial year was second only to tourism ($12.6bn) as the key elements of a $13bn surplus on the services element of Egypt’s balance of payments (MEES, 6 De...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Thailand Crude Imports: Abu Dhabi Cements Top Spot
...lumes were their highest since 2014. An indication that Thailand is casting its net wider for crude is that both supplies from North Africa as a whole and from Libya in particular (15,900 b/d) hit record highs in 2018. There are ‘push’ as well as ‘pull’ factors at play here. One particular to Libya is th...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
GCC Drilling Remains Strong Despite Upstream Capex Cuts
...d 48 respectively, according to Baker Hughes figures. The national oil companies (NOCs) in the GCC have capitalized on costs plunging alongside oil prices since the second half of 2014. Contracts have been signed at well below the previous market rate. According to the IEA’s World Energy In...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
OPEC Risks Becoming An Irrelevance As Revenue Again Tanks
...at Opec says would require a massive $10 trillion in investment. PROBLEM, WHOSE PROBLEM? Mr Badri pulled out a slide showing that all of the net global supply growth – some 6mn b/d of it – between 2008 and 2014 came from non-Opec countries. The inference is: ‘They caused the problem, it’s th...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
OPEC Revenue Lowest For 11 Years; Markets Indicate Further Slide In 2016
...alyst notes. They can’t afford to maintain social spending. But they can’t afford not to. OPEC 2016 OIL EXPORT REVENUE WOULD BE 70% DOWN ON 2014 BASED ON CURRENT FUTURES PRICES ($BN) SOURCE: OPEC, DME, *MEES CALCULATIONS. FOR 2016 'A' USES AVERAGE BRENT FUTURES FOR 1-21 JAN; 'B' USES AV...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
OPEC Puts Russia On The Spot, Again
...ntribution, OPEC is unlikely to act alone. Saudi Arabia and Russia are the top two producers of oil and liquids in the world after the US, which has now overtaken the two oil giants as the world’s leading oil producer. Not only did US crude output soar by 1.2mn b/d to 8.66mn b/d for 2014, but NGLs output ro...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
OPEC Cautiously Optimistic On 2014 Demand And Price Prospects
...OPEC OPEC Cautiously Optimistic On 2014 Demand And Price Prospects OPEC’s key medium term challenge is to keep its head above water for the next decade. Over these 10 years it will have to manage production increases from within its own ranks and continued growth in non-OP...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014