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Fitch: Stable Saudi Outlook
...at lower oil prices, coupled with the spending package announced by the new King Salman (costing 4.3% of forecast 2015 GDP) will push the general government deficit into double digits (as a % of GDP) in 2015. Fitch calculates the deficit in 2014 at 1.9% of GDP, while overspending especially on key pr...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 5-Mar 23-27 Feb 16-20 Feb Feb-15 Jan-15 Q4 2014 Q3 2014 2014...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
OPEC WELL-HEAD PRODUCTION, FEBRUARY 2015 (MN B/D, MEES ESTIMATES)
...t ‘14 YTD ‘15 YTD ‘14 2014 2013 2012 S Arabia* 9.76 9.69 +0.07 -0....
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Qatar’s GTL Output To Fall As Pearl And Oryx Plants Undergo Maintenance
...ys that Oryx operated at an average utilization rate of 97% for 2014, implying a reduction of around 1.42mn barrels produced during 2015 compared with 2014. QATAR GTL PROJECTS, RAS LAFFAN Project Gas F’stock Output Ca...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Iraq: Record Oil Exports But Infrastructure Bottlenecks Remain
...ojects in the south that production would have risen above 4mn b/d had the Kurdistan Regional Government (KRG) honored its export commitment of 400,000 b/d for 2014 as per the still stalled federal budget – implying 3.6mn b/d of ‘federal’ production. Basra Terminal Upgrade The exports, which re...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Oman Targeting Steady Crude Output Through 2018
...dest hike marks the end of the road in Oman’s plans to raise production. Officials say the sultanate is planning to restrict output to no more than 960,000 b/d over the same 2014-18 period in an effort to manage its increasingly challenging resources. “Average production of crude oil [and co...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Jordan Advances Gas Strategy With Shell LNG Supply Deal
...olence in Iraq’s Anbar province (see graph and MEES, 10 January 2014). Planned Iraq-Jordan Crude & Gas Pipelines Israeli Gas Challenge On a logistical level gas from neighboring Israel’s burgeoning offshore discoveries would be the easiest medium-to-long-term way to sate Jo...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Egypt Eyes Iraqi Gas
...mand (forecast at 5.57bn cfd for the 2014-15 financial year). Clearly much larger Iraqi imports would be needed to make a significant dent in Egypt’s looming gas shortage. In addition, whilst Iraq currently flares some 1.2bn cfd of gas, two thirds of wellhead output, Baghdad is looking to prioritizing a ma...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
KRG Boosts Oil Sector Integration With Bazian Refinery Expansion
...r 80 100 2014 Bazian Qaiwan 34 84 2018 Tawke DN...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Saudi Petchems Producers Creating Their Own Customer Base In Clusters
...Capacity SABIC 2014 140,000 t/y ABS SABIC/Mitsubishi 2014 250,000 t/y MMA, 40,000 t/y PMMA Sipchem 2014 63...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Algeria Confirms Six CCGT Awards, Plans New Solar, Mobile Units
...ectricity is expected in summer 2014. Meanwhile, Sonelgaz is evaluating projects for a total 25GW of solar capacity at Djanet (3MW), Tindouf (9MW) and Tamanrasset (13MW). Further projects in the 400MW program are to be announced soon. Sonelgaz says it has made “significant progress” recently on a 12...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
BP Slashes $700mn From Egypt Receivables
...mporary.” BP says is has secured an extension to September 2014 for its appraisal and exploitation agreement for the Bourarhat Sud block southwest of In Amenas. In an indication that the post-In Amenas security fallout is far from over, BP took the security-related decision to suspend activity at Bourarhat in...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
TAQA Buys More Indian Hydro, CEO Steps Down
...ctor Pension Investment Board has 39% and Indian private equity firm IDFC Alternatives 10%. The acquisition is expected to close in 2014, subject to regulatory and third party approvals. The Baspa Stage II and Karcham Wangtoo plants in the northern state of Himachal Pradesh have combined generating ca...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Tunisia Pledges Cuts To Avoid Economic ‘Catastrophe’
...crifices. This could be through rationalizing subsidies, but without touching the poorer classes,” he said in an interview with state television. He added: “We expected to borrow TD7bn ($4.4bn) in 2014,” but because of the economic crisis and the steep rise in the deficit, Tunisia’s foreign borrowing needs wi...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Moody’s Projects Firm GCC Growth in 2014
...REGIONAL Moody’s Projects Firm GCC Growth in 2014 Gulf Cooperation Council (GCC) economic growth will remain firm overall in 2014 at 4.3% supported by the non-hydrocarbon sector, but inflation will rise, Moody’s Investors Service says in a 4 March report. GCC countries ov...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
IMF: Cyprus On Track
...gures. This is almost two percentage points less bad than the figure given in the Troika’s previous review two months’ earlier (see graph). But 2014 growth estimates have been revised down to -4.8% from -3.9% in September’s first review (MEES, 20 September 2013). For 2013, private consumption co...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Independents To Drive Oman’s 2013 Output Boost
...ys. “This will have the objective of framing all Block 5 reserves and resources, allowing Daleel to develop a drilling plan supported by a fifth and six rig as from 2014 to produce the bulk of the reserves within the concession period, namely end-2028.” Petrogas also operates the Rima cluster of small fi...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Anadarko Turns North Africa Focus To Shale
...nth, back from late 2012. Output is set to ramp up to 130,000 b/d crude and 600mn cfd (6.2bcm/y) of wet gas - adding around 30,000 b/d of condensate production - by the end of first quarter 2014. Volumes will approach three-quarters of these levels by the end of 2013, according to Anadarko’s fi...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Libyan Instability - The New Normal
...e process of being built will also be used by others. There are overall restrictions in the infrastructure at this point in time, which we do not see going away in the year 2013. And the question is do they go away in 2014?” “With the 85,000 b/d we are currently producing, we are fully ut...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Kuwait’s Jurassic Gas Project Hits More Problems
...oduce 50-60mn cfd of associated gas. Onshore, a project in Wafra field will collect 100mn cfd of associated gas by 2014 to use for in-field power generation. KNPC and KOC have programs to reduce flaring, but do not publish figures. KOC is relying on exploration to find 1bn cfd of non-as...
Volume: 55Issue: 10Published at Mon, 05 Mar 2012