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Imminent Russian Embargo Set To Boost Middle East-Europe Oil Flows
...ve-year average. However, middle distillate inventories only reached 240.2mn barrels in November, 31.9mn barrels below the 2017-2021 average.” Preliminary Euroilstock data shows a modest 800,000-barrel December rise, which would have left middle distillate inventories still well below average le...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Thailand Crude Imports: Mideast Share Falls To Record Low
...the UAE in 2017 when Saudi notched up a record 259,000 b/d, Saudi volumes have since slipped back: 2020’s 195,000 b/d was a six-year low. *The USA was number three with volumes rising 12,000 b/d to a record 98,000 b/d for 2020. *Gaining market share at the Gulf’s expense have be...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Suez Canal Rides Us Shale Boom With 2019 Traffic & Revenue Records
...rminal of Ain Sukhna in 2019 (see p6). Southbound oil products shipments of 1.33mn b/d were up on 2018’s 1.28mn b/d and second only to 2017’s all-time high of 1.38mn b/d. Southbound products volume includes a record 94,000 b/d of LPG, with Q4 seeing a quarterly record of 126,000 b/d. But the st...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Saudi Arabia Key Oil Data ('000 B/D): Saudi Crude And Products Exports Fell 1mn B/D Annual In 2019
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN 'OTHER PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Saudi: Pre-Deal Deja-Vu With Output, Export Records
...evious Opec output deal, when Saudi Arabia exported 8.258mn b/d (MEES, 20 January 2017). Going much further back, the only other month to top this was May 2003 (8.344mn b/d) when Saudi massively drew down stocks to boost exports to compensate for the loss of Iraqi volumes with the US invasion. *Of...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Thailand Crude Imports: Abu Dhabi Cements Top Spot
...d crude imports growing 7.4% to top 1.1mn b/d for 2018, Thailand is at the top of the second tier. The UAE (effectively Abu Dhabi) cemented its position as top crude supplier to Thailand in 2018. Average volumes of 361,000 b/d were up 14.5% on 2017 though still down on 2013’s record 44...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Saudi Arabia’s Shift Up The Value Chain Offsets 7-Year Crude Export Low
...ll in crude export volumes was more than offset by a 28.6% increase in the price of Saudi benchmark Arab Light and the shift towards refined products. Saudi trade data show that oil export revenues for the first 10 months of 2017 were up 22.6% year-on-year at $137bn. This is already above the fu...
Volume: 61Issue: 04Published at Fri, 26 Jan 2018 -
GCC Drilling Remains Strong Despite Upstream Capex Cuts
...ng for their buck with extra savings coming from squeezing contractors. With oil prices stabilizing in the mid-$50/B range since the November Opec agreement to cut output (MEES, 2 December 2016) upstream spending could rebound somewhat in 2017. Conversely, as Mideast spending fell less than el...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
OPEC Puts Russia On The Spot, Again
...rol, said during the same panel discussion in Davos that oil and gas upstream investment in 2015 is expected to decline by around $100bn, or by 15%, with a big chunk coming from the high cost areas. This, he says, will have implications, maybe not immediately, but in 2016 and 2017 should demand pick up an...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015