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Syria: Subsidies Hit $1Bn; ‘Losses’ At $22bn
...vernment spent S£40bn ($268mn at the official exchange rate of $1=S£149) on energy subsidies in the first quarter of 2014; over $1bn on an annualized basis. The minister estimates total losses in the hydrocarbons sector since the beginning of the uprising in March 2011 at S£3,202bn ($21.5bn) – S£2,...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...e first quarter 2014, the US upped volumes substantially, taking 405,000 b/d for January and February (March data are not yet available). Japan is Kuwait's third largest customer taking 311,000 b/d for the first quarter, up 12% on a year earlier. The Indian market is of growing importance to Ku...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
MENA Active Drilling Rigs, April 2014*
...MENA Active Drilling Rigs, April 2014* April Br...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tupras Boosts Turkish Conversion Capacity
...sidue upgrader unit at the 220,000 b/d Izmit refinery will transform high-sulfur fuel oil into Euro V standard light products, while increasing production capacity for petroleum coke and sulfur. The project was over 90% complete at end-2013 and is scheduled for November 2014 start-up, Tupras says. Sp...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Aramco Scales Back Giant Jazan Plans To 2.4GW
...art Status SEC Projects 9.98 Shuaiba 2 1.24 Gas 2014 U/C Ji...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
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 -
Libya’s New PM Faces Old Problems
...y from the roughly 1.5mn b/d pumped prior to the outbreaks of strikes last July, and puts Tripoli under severe budgetary pressures. The government lost billions in forgone oil revenues last year, and has failed to sign a budget for 2014. Without the funds to invest in the country’s dilapidated in...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Hamad Bin Jasim Returns With $1.6bn Heritage Oil Takeover
...oblems, Heritage gives a broad estimate of 14,500–18,000 b/d for its overall net 2014 production. This includes small volumes in Russia, where the firm has a 95% interest in the Western Siberian Zapadno Chumpasskoye license, its only other producing asset. This produced about 600 b/d in 2013. The firm’s 20...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Saudi 2015-19 Plan Targets 5% Growth
...re 8.35mn b/d, up over 500,000 b/d from the 4Q 2012 figure of 7.83mn b/d. Samba says Saudi growth was 3.8% for 2013 as a whole. It projects a fall to 3.1% in 2014, 2.8% in 2015 and 2.6% in 2016. According to Samba, net foreign assets, which stood at $753bn in 2013, are projected to rise to $83...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D)
...Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D) Vs 1Q ‘13...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 08 May 28 Apr - 2 May 21- 25 Apr Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 19Published at Fri, 09 May 2014