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Iran’s New Generation Of Oil Contract ‘Finalized’
...November 2014. A ‘first draft’ of the IPC was unveiled at a conference in Tehran in February, with the aim of getting feedback from both local and foreign experts and companies (MEES, 28 February). Though Iran’s Deputy Oil Minister for International Affairs Ali Majedi recently said “some fe...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Rebels ‘Close In’ On South Sudan Oil Fields
...her ‘producing’ state – Unity – has been offline since the first week of 2014, after rebel forces took control of the fields, and damaged key oil infrastructure. Pre-conflict production was running at around 240,000 b/d. The rebel spokesman said forces were also nearing the Jonglei state capital Bo...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...January 2014, we have been in close dialogue with ministers… In the last couple of weeks we have seen the first indications of any barrier to progress by a negative vote in the Energy Committee, a subcommittee to the Tunisian parliament. PA Resources is not alone in this, and other operators are ex...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...fferent story. In our view, it would require an extra 2-3bn cfd of gas to replace 500,000 b/d of direct crude burning.” During 2014 and 2015 new combined cycle plants will boost fuel oil consumption – demand growth is forecast at 11% in both years – as gas supply remains tight. Overall, FACTS expects fu...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Drilling Boost For Services Firms
...source base.” Schlumberger expects strong activity in northern Iraq to continue throughout 2014. Mr Kibsgaard expects full-year Iraqi revenue level with 2013. Going into 2014, Schlumberger viewed the Middle East, as a “major growth driver” (MEES, 31 January), a prediction more than borne out in the fi...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Kicks Off Phase II Of Subsidy Reform
...pular support for Mr Rohani into the new year. Under the first phase of the plan, which began in December 2010, the cash handouts paid out exceeded the savings from reduced subsidies. This raised the already existing budget deficit. In the year which ended on 20 March 2014, the government paid $18bn in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Libya: Oil Income Slips
...LIBYA Libya: Oil Income Slips Libya’s oil revenue in the first quarter of 2014 was “less than $4bn,” Acting Oil Minister ‘Umar Shakmak says. This implies average oil exports of around 400,000 b/d. The minister is optimistic that production can be quickly raised to 1....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 24 Apr 14- 17 Apr 7- 11 Apr Mar-14 Feb-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014