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India Oil Demand Hit By Covid As Saudi & Opec Import Share Falls To Record Low
...th Saudi Arabia’s market share falling to a record low 14.4%. Opec’s Q1 market share of 64.3% was also a record low, whilst the Mideast share of 56.2% was just fractionally higher than the record quarterly low set in 2014 (see chart). *In volume terms, the 595,000 b/d that India took from Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Blow To Nuclear Deal Forces Opec Output Reappraisal
...5,000 b/d. This is due to the startup of the first 50,000 b/d unit of the Hammar Mishrif Degassing Station facilities (DGS North). This consists of four units for a total 200,000 b/d and is being installed by South Korea’s Samsung under an $840mn 2014 contract (MEES, 4 April 2014). Completion was due for 20...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
OPEC Output At Highest Level Since Late-2012
...nds yet another signal that Riyadh – and by association Opec – is sticking firmly to what many saw as a controversial November 2014 decision not to cut production, even though global oil prices were on a sharp downward trajectory. Just weeks after the decision, Saudi Oil Minister Ali Naimi told ME...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Zanganeh: six months for full Iran return to markets
...vels at the start of 2015, before recovering somewhat in recent weeks. Front month Brent futures were trading at around $66/B, down over 40% on their June 2014 peak of $115/B, as MEES went to press. With Saudi Arabia currently showing little willingness to reduce output, and Iraq forging ahead with it...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran 1Q15 Oil Shipments Take India Hit
...ld intakes from Iran to approximately 2013 levels, 2014 saw Indian imports increase a massive 45% year-on-year, theoretically making it the biggest ‘violator’ of US sanctions among Iran’s remaining five regular customers: China, India, Japan, South Korea and Turkey. This move saw Indian imports fr...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iraq, KRG Oil Export Deal Holds Despite Discrepancies
...tential earnings from oil exports that generate nearly all of the state’s revenues. The Iraqi oil ministry has admitted to difficulties in paying the companies, which it says were owed $9bn in arrears for 2014. It owes an additional $18bn this year to pay the international oil companies (IOCs), of which it...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Saudi Boost Pushes OPEC April Production Higher
...0,000 b/d for each of the last three months for which JODI data is available (December 2013, January 2014 and February 2014), again the three highest figures on record (see graph). Iraqi output held steady at 3.3mn b/d as higher output from southern fields and a rise in domestic consumption was cancelled ou...
Volume: 57Issue: 19Published at Fri, 09 May 2014