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Egypt Looks To New Gas Finds To Ease Record Energy Deficit
...cut its import bill from 2015’s record $80bn to $60bn for 2016. But quite how it will reduce its import bill this year is unclear, especially considering a large proportion of the 167 LNG cargoes Cairo has signed since December 2014 (MEES, 16 October 2015), will be arriving in 2016 as authorities lo...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iranian Volumes Re-Enter Crowded European Market
...ea of concern for firms considering conducting business with Iran, increasing the attractiveness of swap arrangements. SOUTH KOREAN SPIKE South Korean data shows that imports of Iranian crude in January were at their highest level since March 2014. The 202,000 b/d imported was considerably hi...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Algeria Boosts Its Share In Spain’s Gas Imports In 2015
...uivalent of 151,941GWh in 2015, following an annual increase of 3.5% to 180,093GWh in 2014. Spanish gas consumption was severely hit by the post-2008 recession, causing many Spanish buyers to re-export significant volumes of LNG. The global re-export trade almost doubled to around 6mn tons between 2012 an...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
KRG Refining Down As Producers Prioritize Exports
...0,500 b/d in 2015, up slightly on 2014’s previous record of 99,700 b/d. But run rates fell to 72% for 2015 as a whole and averaged just 60% for the last four months of the year, down from an average of 80% for 2013 and 2014. The three plants’ total crude distillation capacity is 139,000 b/d split be...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Algeria’s Sonelgaz Eyes Foreign Loans To Bridge $10bn Funding Gap
...st year was slightly down on the AD600bn ($5.59bn) invested in 2014, he adds. The Algerian government plans to increase electricity and gas prices this year, Mr Boutarfa says. At risk of triggering political protests, government’s latest finance law includes plans to reduce subsidies by raising fo...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
IEA Warns Of Future Price Spike As Opec Divisions Deepen
...ALED BACK (MN B/D) *ADJUSTED TO INCLUDE INDONESIA. ...AS SUPPLY GROWTH STUTTERS Despite revising up global demand figures, the IEA still sees little prospect of crude markets balancing until 2017. The IEA says supply exceeded demand by 900,000 b/d and 2mn b/d in 2014 and 2015 re...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Middle East Refiners To Add 2.3mn B/D Capacity By 2022-IEA
...true of some Middle East refiners. Saudi Arabia started up 400,000 b/d of refineries in 2013 and 2014 and UAE started up a 417,000 b/d plant in 2015, all aimed at exports. The IEA says the pace of Middle East refining capacity expansion in the medium term will slow and also depend to a large ex...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iraq: Abadi’s ‘Technocrat’ Reshuffle Plan Slim On Detail
...eceding government had distributed state-controlled properties to officials to buy support. As for the technocrat government, Mr Abadi did not give details, but sufficed with explaining his rationale. He argued that given that the key challenge when he was elected in September 2014 was the collapse in se...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
SEC Seeks $3.3bn More Funding, Bringing Total To $73bn
...kuk Sadara project 2.0 2014: January SEC Sukuk Capital projects 1.2 2014: March SEC Finance Mi...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016