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Tupras Sees $2.7Bn Izmit Upgrader Boosting Refining Margins
...sulfurization 25.2 Sulfur Recovery 440 T/D SOURCE: TUPRAS TUPRAS KEY INDICATORS (‘000 B/D) 2010 2011 2012 20...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Iran And World Powers Strike Initial Nuke Deal But Oil Markets Unfazed
...3mn b/d since late 2011 (before sanctions came into effect) to average 1.18mn b/d so far this year. Iran may be technically able to deliver more oil to the market out of storage immediately should the sanctions be lifted, Mr Tchilinguirian says, but may choose to do so gradually for fear of depressing pr...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
US Petroleum Imports, Exports, Demand (‘000 B/D)
...14 3Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,274 7,242 7,150 7,...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Libya: GNC Sacks PM As Oil Output Rises With Prospect Of More to Come
...e UN Security Council adopted resolution 2214, which called on the sanctions committee set up in 2011 to “consider expeditiously” the “transfer or supply of arms and related materiel” to the Libyan government for the use by its official armed forces to combat IS, Ansar al- Sharia, al-Qa’ida and th...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Egypt Issues $1.5Bn Eurobond Mandate
...ternational market. The planned Eurobond issue will test the market for future borrowing, given Egypt’s absence from the debt market since the January 2011 revolution which overthrew the Husni Mubarak regime. The last time Egypt dipped into the international market was in April 2010 with the launch of a $1....
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Jordan Slashes 2014 Budget Deficit
...d Japan. Jordan’s economy is also under strain, due to the influx of around 1.4mn Syrian refugees, who have fled their war torn-country after the start of the uprising in early 2011. Jordan estimates the cost of looking after these refugees at $3bn in 2015 (see column). Jordan’s public debt st...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Libyan Federalists Offer Fresh Hope Over Eastern Oil Exports
...st, putting the government under additional pressure. Production, which by last July had recovered to around 1.4mn b/d after a near complete outage during the 2011 revolution, now languishes at just 150,000 b/d. Federalist militia control the Es Sider, Ras Lanuf and Zueitina terminals, which ha...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
International Gas Union Sees Changing LNG Market After 2014
...T/Y, %) Qatar King, But Not For Long Supply will grow only marginally in 2014, though the two or three projects that IGU expects online this year represent the first significant boost in liquefaction capacity since 2011. Major boosts to global liquefaction capacity will come online in 2015, when new Au...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
KBR Wins Jebel Ali Splitters Upgrade FEED
...ntract, capacities of the new units or the project schedule. It recently said its refinery throughput was 28% higher in 2013 than in 2011, while revenues increased by 50% and profits by 39%. Yet losses on fuel sales within Dubai, because of subsidies, are forcing the company to seek better returns el...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Alstom Bags Eni Zubair Power Contract
...ant as well as supplying the four gas turbines. The company says the project is similar to one received in 2011 for a 728MW gas-fired plant in Mansuriya oil field, under development by private firm Kuwait Energy. Alstom has also rehabilitated an existing power plant at Zubair, raising capacity by 60MW to...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Saudi Arabia Keeping Politics Out Of The Mix
...pense of falling imports of Mexican crude, which slumped in 2013 to 919,000 b/d from 1.2mn b/d in 2011, and from Venezuela, whose exports to the US fell to 797,000 b/d last year from 960,000 b/d in 2012. Canada remains the single largest exporter of crude oil south of its border and its share of the US...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Qatar Announces Record Budget But Curbs Expenditure Growth
...up by more than 20%, in preparation for the hosting of the 2022 World Cup. The new budget, which began on 1 April, is expected to carry on with the implementation of programs and strategic development projects envisaged in Qatar’s national strategy for 2011-16, and the realization of the ob...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 100.29 100.40 99.30 100.48 100.68 98.56 97.54 98...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Egypt Hopes Payment Deals Will Reinvigorate Upstream Investment
...atements, released last week, show Egyptian receivables rose from $131mn at the end of 2011 to $164mn at the end of 2012 despite it having been paid $135mn last year. The firm says it has now struck a monthly payments deal with EGPC and received $52mn during 1Q13. Meanwhile, cash-strapped UAE independent Da...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Yemen Hopes To Turn A Corner, Offers Yet More Blocks
...ar was a difficult year for Yemen. While the situation in its neighboring Gulf States had calmed somewhat from the most active days of the Arab Spring in 2011, Yemen was still forced to contend with a host of challenges that continuously threatened to endanger both its domestic stability and regional se...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Shell Set For Major Fujairah Storage Lease
...rminal. Aramco Trading, founded at the start of 2011, is Saudi Aramco’s products trading arm and is a wholly-owned subsidiary of the Saudi state-owned energy titan. Aramco Trading noted in a statement in early March that the company “will use the fuel storage facility to optimize its trading po...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Sukuk Investors Provide $2Bn To Sadara Project
...port refinery was the first in Saudi Arabia ever to issue Sukuk for a project in October 2011, but this replaced other financing that had already been received. Sadara said that the floating rate Sukuk, which carry a 16 year maturity, will pay investors 95 basis points (bps) over the Saudi in...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Qatar Boosts 2013-14 Budget Expenditure
...total revenue. Latest data on actual budget statistics show that oil and gas revenue in 2011-12 represented 69.6% (around $42bn) of total revenue (Table 2). But this figure is expected to rise significantly as Qatar’s North Field developments have diversified the revenue stream away from crude ou...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Oman Warns Of Imminent Belt Tightening
...ring and global financial crisis. The Omani government boosted spending on both welfare and job creation initiatives in 2011 in an attempt to quell the social unrest that threatened to destabilize the country in the wake of the Arab Spring. The authorities also took to spending heavily on cr...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Egypt Hopes Subsidy Reforms Will Hasten IMF Deal
...12 but still 30% down on pre-Revolution levels. Suez Revenues Down One key pillar of the Egyptian economy which had held up is Suez canal revenues, which were at close to record levels for both 2011 and 2012 ($5.22bn and $5.13bn respectively – MEES, 1 February).The canal had been one el...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013