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LNG: A Record Year As Qatar & Oman Both Hike Sales
...nthly basis for the first time in October, may well snatch the overall spot for 2019. *The one key market which is stagnant is the world’s largest, Japan. Japan imported a total of 82.9mn tons in 2018, down 0.9% on 2017 and over 6% lower than the record of 88.5mn tons set in 2014. Here Australia is th...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Saudi-Russia Relations Mean Opec+ ‘Deal’ Will Continue. At What Price?
...al. Crude prices at their highest level since late 2014 also point in this direction. But the interests of both core participants, Saudi Arabia and Russia, make a formal wind-down unlikely. Venezuela’s output collapse enabled Opec and the 10 non-Opec countries party to the December 2016 output de...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Opec Cuts: US Shale The Early Winner
...erators were looking to $60/B before they envisaged a major uptick in activity, Exxon is now far from the only firm to project that it could grow output at $40/B. It says it is getting more bang for the buck. “In the Permian Basin… our average drilling footage per day has increased about 85% since 2014,” Mr...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Algerian Oil Output Gets Berkine Boost
...• Opec member Algeria has been struggling to maintain its oil output levels. Average crude production of 1.11mn b/d for 2016 was down 40,000 b/d on 2014 (though up a touch on 2015 - MEES, 6 January). • The country’s upstream oil projects pipeline is almost bare: the 40,000 b/d oil ph...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Iran And Saudi Arabia Drive Opec Output Rise As Indonesia Returns
...2mn b/d to 3.5mn b/d by 2017, Iran looks set to pull away. Kuwait has fallen behind since October 2014, when a dispute with Saudi Arabia over management of the Partitioned Neutral Zone (PNZ) led to production falling there, and halting altogether in 2015. Chevron said in its Q4 2015 conference call on 29 Ja...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
No Shift In Saudi Oil Policy, But A Slight Change In Tone
...mp up to full capacity of the Satorp and Yasref refineries, which together have a combined capacity of 800,000 b/d. At the same time, non-OPEC supply, which grew by 1.5mn b/d on an annualized basis in the fourth quarter of 2014, will continue to rise, Jadwa says, with an expected year-on-year in...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Aramco Doubles S-Oil Equity As Part of Asian Push
...trochemicals capacity – 1.7mn ton/year of paraxylene and 450,000 t/y of benzene produced from naphtha feedstock – matches Aramco’s increasing overlapping of refining and petrochemicals business (MEES, 4 July 2014). The Saudi state energy giant is developing 6mn t/y of specialty petrochemicals capacity at tw...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...intain top spot for 2014 as a whole; indeed, give or take the odd month, falling US imports mean China is likely to hold this position for decades to come. Beijing Diversifies OPEC supplies to China totaled 3.59mn b/d in 2013, accounting for 63.6% of total imports. This is down slightly from the 65...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014