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Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...ese numbers highlight the extraordinary measures Qatar is taking to stabilize crude production. Qatari oil production has fallen steadily since February 2009 when it topped out at 860,000 b/d. During the first months of 2014, production has drifted between 710,000 b/d and 720,000 b/d (see ch...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
KRG Goes Quiet On Oil Export Plans As Storage Tanks Fill Up
...certainty in the timing of revenue recognition and guidance for 2014,” GK adds. Spring Break The company gave a net revenue guidance for the year of $150-180mn, which was below analysts’ expectations. This is the second blow to GK, which also took a hit in April after a third party evaluation re...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Libya: Production Resumes In East And West
...rmany’s Wintershall, France’s Total and Norway’s Statoil. OMV has already factored in continued interruptions to its Libyan operations to its 2014 outlook. The company trimmed its production guidance to 310,000 – 330,000 b/d, down from the 320,000 – 340,000 b/d target it stated as recently as last month....
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Fertilizer Boost For Algeria’s Battered Petchems Industry
...13, a cumulative fall of 21% since 2006, according to official figures released by the IMF in its extensive report on the Algerian economy earlier in the year (see graph). LNG exports have fallen even further: from 14.3mn tons for 2010 to 10.9mn tons last year, according to the 2014 report of the In...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Targets Petchems Hike
...more than 25%, he told the petroleum ministry’s Shana website, from 40mn tons produced in the year ending 20 March 2014. The company aims to get its petrochemicals expansion back on track after years of economic sanctions and the withdrawal of international firms from Iran’s petrochemicals se...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Gifts Egypt Oil
...the first year of the revolution. Egypt’s draft budget for 2014-15 (the year beginning 1 July 2014) projects a deficit of 13.9% of GDP, an official source has announced. This is higher than the current figure of 9.1% in the 2013-14 budget ending on 30 June. The new budget will also levy an ad...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Arabia Sees No Need For OPEC Output Hike
...2014 as a whole, albeit by a much more modest 100,000 b/d (see table). In hiking its ‘call on OPEC’ figure the IEA cited continued non-OPEC outages, uncertainty as to the timing of a return in Libya to full production, worsening security conditions in northern Iraq as a result of pipeline sabotage an...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iraqi Elections: Months Of Haggling Beckon As Maliki Looks To Cling On
...tablished the Governing Council in July 2003 on a sectarian basis. The 2014 election, however, has revealed a new phenomenon in current Iraqi politics: The country is not only divided along sectarian and ethnic identities, but is concurrently undergoing splits within each community. Exit polls indicate th...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Total Sells 30% Of Morocco Retail Operation To Saudi Zahid Group
...sablanca exchange, which has seen a slowdown in the number of flotations since a flurry of activity in the 1990s and has been downgraded to a frontier market status rather than an emerging market. The Total Maroc offering will be the first in 2014 and the second since 2012, Reuters says. Beyond Mo...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Libya: 14% Budget Cut
...LIBYA Libya: 14% Budget Cut The 2014 Libyan budget has been cut to LD58.9bn ($47.9bn) from an earlier figure of LD68.6bn ($55.8bn), a member of the planning and finance committee of the General National Council (GNC) Huda al-Banani has confirmed. Total revenue is now pr...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran: Hope All-Pervasive, But Is It Justified?
...ess codes, prompting some women to be more daring with their attire and hijab. However this is only a phase which could be reversed. The construction sector in Tehran does not seem to have suffered from the lack of economic growth – the economy contracted by 1.7% over the year to March 2014 and by ov...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 15 May 5-9 May 28 Apr - 2 May Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Exposure To High-Cost Barrels: 2014-25 Capex On Projects Needing $80/B Brent To Break Even ($Bn, Top 20 Firms)
...Exposure To High-Cost Barrels: 2014-25 Capex On Projects Needing $80/B Brent To Break Even ($Bn, Top 20 Firms)...
Volume: 57Issue: 20Published at Fri, 16 May 2014