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Palestinian Economic Growth Stalls
...PALESTINE Palestinian Economic Growth Stalls Economic activity in Palestine contracted by nearly 1% in real terms in 2014, the IMF says, on the back of mounting political tensions in the West Bank, and the war in Gaza. This represents the first year-on-year contraction since 2006, and co...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
BG Slashes Egyptian Spending As Production Plummets
...s overall capital expenditure (capex) budget to around $6bn, almost half that of 2013’s $11.2bn and down some 30% from 2014’s figure of $9.2bn. The firm has faced a double whammy of reduced reservoir performance, meaning lower wellhead volumes, and increased diversions of its gas output to the do...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Iran Oil Shipments Up 15% In 2014 As China, India Overlook Limits
...IRAN Iran Oil Shipments Up 15% In 2014 As China, India Overlook Limits Intakes of Iran’s crude oil and condensate rose around 15% year-on-year in 2014, despite still being under sanctions, as its two biggest customers China and India looked to take advantage of an improved diplomatic at...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Morocco Looking To Boost Gas Output
...lfsands last November entered into a strategic partnership with Arawak “to jointly acquire projects in the MENA region,” which Gulfsands would operate with 30%, while Arawak would hold a 70% stake and will provide financing (MEES, 28 November, 2014). Through this, Gulfsands could pursue “projects that mi...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Bapco, Aramco Invite Sitra Pipeline Proposals
...finery currently processes around 45,000 b/d of crude from Bahrain’s Awali field and crude arriving via a 230,000 b/d capacity 54km pipeline from Dhahran in Saudi Arabia to Sitra. Bapco aims to complete the new pipeline well ahead of commissioning of the refinery expansion (MEES, 24 October 2014)....
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
South Korean LNG Imports: Qatar Cements Top Position In 2014
...South Korean LNG Imports: Qatar Cements Top Position In 2014 2014 2014 vs 2013 2013 2012 2011 ‘00...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons)
...Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons) 2014 vs 2013 vs2010 2013 2012 20...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Sadara Nears Completion, Recruiting Processors For PlasChem Park
...lowing the production of specialty chemicals not previously available within the region. Among these will be 600,000 t/y of isocyanates, which can be combined with polyols (Sadara will produce 390,000 t/y of polyether polyols) to produce polyurethanes (MEES, 21 March 2014). Polyurethanes are one of th...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
UAE Targets Improved Efficiency ‘Throughout Electricity Value Chain’
...r capita energy consumption among the highest in the world, the emirates’ Ministry of Energy has set a target of improving energy efficiency by 30% by 2030 (MEES, 26 September 2014). Abu Dhabi-based Masdar Institute of Science and Technology and US electrical engineering giant GE have produced a wh...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Iran Starts Work On Qeshm Power/Desal Plant
...01-04, before the onset of sanctions over Tehran’s nuclear program. Mapna recently started work on a 1GW gas-fired plant at Zanjan (MEES, 17 October 2014). Iran’s power generation capacity reached 70.03GW at the end of 2014, of which 70% is gas-fired. This requires an estimated 10.5bn cfd of gas fu...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
OPEC Output Slides In January Despite Gulf Increments
...west level since June 2014. In Libya, oil output fell for the third month running to average 350,000 b/d in January, as armed factions allied to two rival governments continue their fight for control of the country, four years after the ouster of former leader Mu’ammar al-Qadhafi. Despite co...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Canada’s Pipeline Battle With US Has Implications For Saudis
...r Canadian producers, which have responded by cutting investment after a period of rapid growth. Canadian oil sands production grew fivefold between 1993 and 2014, as investment doubled to 30bn Canadian dollars between 2006 and 2013, allowing Canadian exports to the US – its sole export market to...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Total Still Leads The Pack On UAE’s Adco Concession
...ell, like BP and ExxonMobil, have reported lower production in 2014, due to the loss of their 9.5% stake in the lapsed Adco concession. ADCO HIT Shell’s overall production averaged 3.1mn barrels of oil equivalent per day (boe/d) in 2014, down 100,000 boe/d on the year, partly due to the expiry of...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Iraq’s 2015 Budget: A Catalyst For Better Relations With Erbil
...der the budget law all revenue derived from these exports will be considered as revenue for the Iraqi federal treasury. Based on these projections oil revenue in the budget is put at ID78,649bn ($67.5bn), or 83.6% of total revenue. Kuwait’s agreement at the end of 2014 to give Iraq a one-year su...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Japanese Crude And Condensate Imports: Saudi Retains Top Spot As Russia Surges Up Rankings (‘000 B/D)
...Japanese Crude And Condensate Imports: Saudi Retains Top Spot As Russia Surges Up Rankings (‘000 B/D) 2014 rank 14vs13 14vs12 2013 ra...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 5-Feb 26-30 Jan 19-23 Jan Jan-15 Dec-14 Q4 2014 Q3 2014 2014...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015