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Libya Oil Gains Go Into Reverse
...rf offshore field, which “continued without interruption,” it said. The events prove IOCs are right to be cautious on Libya (MEES, 3 March). ConocoPhillips excluded the territory from its Q4 2016 results release, published on 2 February, and discounted it from its 2017 production guidance. In its Q4...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Libya’s East-West Divide Flares Up Amid Oil Port Fighting
...me by. LIBYA’S 2017 OUTPUT TARGETS BY JV (‘000 B/D) ^ACTUAL JAN-FEB OUTPUT WAS 680,000 B/D. SOURCE: NOC. NOC SPLIT RENEWED On 14 March an LNA spokesman said that a decision over control of the oil terminals would not be reached before they had been inspected by Naji al-Ma...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Production Curbs Help Market Inch Towards Balance
...ude inventories hit a new all-time high of 528.4mn barrels on 3 March, before edging lower to 528.1mn barrels this week. This brought an end to a run of nine consecutive weekly builds caused by buoyant shale production as well as imports. 1: IEA FIGURES IMPLY MARKET REBALANCING* IN Q4 2017... (CU...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
US Ramp-Up Lays Down The Gauntlet To Opec
...a whopping 180,000 b/d upward revision on the number in last month’s report and the first time in a year that US crude output has topped 9mn b/d. The latest STEO revises up projected output for the remainder of 2017 even further, by an average of 270,000 b/d for April-December. Production is now set to...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Kuwait Cuts Its Borrowing Needs With Debut $8bn Bond
...Kuwait this week raised $8bn in a debut Eurobond slated to cover its expected budget deficit for the 2017-18 year starting 1 April. The issue was three times oversubscribed, attracting $29bn in bids. Kuwait previously said it would seek to raise $10bn from its debut foray in the debt ma...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Iran Fiscal Outlook Improves As New Year Dawns
...ound 68 million Iranians only and not the 77 million current recipients. So the government will have the unenviable task of cutting out a few million recipients, or diverting resources from the development budget. The Guardian Council this week approved the draft 2017-18 budget, with some am...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Iran FDI: Set For Takeoff?
...rve a second term, or be replaced by a hardline opponent (MEES, 10 February). IRAN’S FDI INFLOWS SET TO SOAR ($BN) IRANIAN YEARS ENDING c.20MAR. *2016-17 NUMBERS ARE PROVISIONAL, 2017-18 A PROJECTION. **ONLY SOME ANNOUNCED PROJECTS WILL RESULT IN ACTUAL INVESTMENT, TYPICALLY IN SUBSEQUENT YE...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Federal Iraq’s Oil Revenue Set For 30% Annual Rise In 2017
...*MEES CALCULATIONS BASED ON EXPORT PROJECTIONS AND CURRENT FUTURES CURVE AS OF 17 MARCH 2017. FEDERALLY CONTROLLED EXPORTS ONLY. SOURCE: IRAQ OIL MINISTRY, MEES CALCULATIONS. • Iraqi crude revenues in the first two months of 2017 have totaled $9.5bn, more than twice the $4.5bn fi...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017