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Asian LNG Imports Hit Record High In 2016; Global Supply Glut Yet To Come
...oduction from new plants in Australia and elsewhere was mostly absorbed by Asian buyers, but at the ‘cost’ of pushing down prices. As more LNG comes online during 2017, the ability of Asian buyers to soak up additional supplies will be further tested for this year. Collective imports to the global ‘to...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Aramco Agrees To Pay Shell $2.2bn In Break-Up Of US Motiva Refining JV
...0 Overseas Current & Planned 3,114 1,412 *CURRENT STAKES. MOTIVA TO BE SPLIT IN Q2 2017 WITH ARAMCO TAKING 100% PORT ARTHUR AND SHELL 100% OF CONVENT & NORCO. ^ARAMCO OWNS 63.4% OF S-OIL WITH THE RE...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
UAE Generators Struggle To Take Their Foot Off The Gas
...esel 0.70 Total Operating 28.63 Planned: 26.65 Adwea (2017...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Opec Output Edges Down But Saudi Wary Of ‘Free Riders’
...e to resurgent US shale production: the EIA this week revised up its forecast of US 2017 crude output by 230,000 b/d to 9.21mn b/d. Opec Secretary General Mohammad Barkindo has previously said he thinks a 270mn barrel fall in OECD stocks is required. But, whilst overall OECD stocks are falling, ME...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
IEA Warns Of Capacity Squeeze Unless Investment ‘Rebounds Sharply’
...The IEA’s latest medium term oil report repeats the organization’s siren calls that a supply crunch is in the pipeline. But it may be underestimating the scale of the US shale rebound already underway. The IEA’s ‘Oil 2017’ report, which covers medium term forecasts to 2022, warns that the 45...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
KRG’s 30,000 B/D Atrush Field: Start-Up Imminent
...G production, but for helping offset Taq Taq’s continued decline. Though Atrush output may be close to that of Taq Taq by the end of 2017 for the year as a whole output is likely to average around 15,000 b/d. The KRG has failed to provide information on overall output since November, but MEES es...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
UK Pledges Funds For Reconstruction Of Iraq’s IS-Ravaged Areas
...cember and January totaled $10.1bn, nearly twice the amount of the same period 12 months previously. Iraq’s 2017 budget projects a budget deficit of $18.4bn, though a conservative assumed oil price of $42/B means that a lower deficit of perhaps $11bn is more likely (MEES, 3 March). But though Iraq’s fi...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Oman Raises $5bn In Bumper Bond, Kickstarts 2017 GCC Issues
...Oman raised $5bn from a 1 March international bond issue which was four times oversubscribed. As such it is close to completing its entire foreign borrowing plan for 2017 necessary to cover its expected budget deficit. The issue consisted of three tranches: a five-year tranche of $1bn at...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017