- Sort by:
- Score
- Published ▼
-
Chevron Advances Maintenance Shutdown At Neutral Zone Field In Bid To Aid Talks
...aph). The US major said in its annual report for 2014 that it may not be able to sustain production from Wafra at current levels. Failure to resolve the problems might force the company to wind down its operations, a senior Saudi source told MEES recently (MEES, 3 April). Chevron’s onshore fields in the Ne...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Noble Comes Out On Top In Israeli Antitrust Dispute
...raeli Prime Minister Benyamin Netanyahu’s ruling Likud party but left to form his own Kulanu party in November 2014. He served as Communications Minister from 2009 until 2013 and campaigned on a platform of lowering the cost of living. Mr Steinitz, who is a member of the Likud party was Finance Mi...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...SAUDI ARABIA Saudi Aramco Oil, Gas Reserves At All-Time High Saudi Aramco has just published its Annual Review for 2014, the last in which Oil Minister Ali Naimi will grace its pages as Chairman of the Board. Based on the numbers, last year’s achievements are impressive, especially if th...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Ramp-Ups Boost Mideast Naphtha Exports, Despite Petchems Rise
...rkets. “By 2025, Middle East naphtha production will increase by 25mn tons/year of light and 35mn t/y of heavy reforming naphtha, respectively. Light naphtha exports in 2014 were 42mn tons and due to a large increase in domestic consumption will increase by a relatively modest 5mn t/y by 2025,” says Mr Ra...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Morocco’s $4.6bn LNG Scheme Continues To Drum Up Interest
...rocco’s favor. With more LNG projects starting up in the coming years in Australia, the US and other regions, it is increasingly a buyers’ market – especially in terms of price. Morocco is an additional target for producers and portfolios looking to sell future or flexible LNG. As per its December 2014...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Egypt Boosts LNG Import Plans
...llant FSRU at Ain Sukhna. The vessel has been leased to state gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Mr Molla tells MEES that he expects four cargoes to arrive per month and once the second FSRU arrives, eight. With eight LNG cargoes ar...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Egypt’s Deficit Up
...EGYPT Egypt’s Deficit Up Egypt posted a budget deficit of E£218.3bn ($28.7bn), or 9.4% of GDP, for first nine months of fiscal year 2014-15 (July 2014 to March 2015), up from E£145bn, or 7.3% of GDP, in the corresponding period of 2013-14, Egypt’s Ministry of Finance said in its Ap...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Oman LNG Faces Further Revenue Downside
...OMAN Oman LNG Faces Further Revenue Downside State-owned Oman LNG recorded an annual drop in revenue of around 9% to $4.074bn in 2014, as export volumes fell from 8.9mn tons/year in 2013 to 7.95mn t/y last year, the company said in its Annual Report last week. The 2014 export volume pu...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Aramco Boosting Refining Capacity, Plans ‘Value-Maximizing’ Integration
...lue along the processing chain. Saudi Aramco says the kingdom’s refineries delivered an average 2.18mn b/d of products in 2014, compared with 1.84mn b/d in 2013. Much of this 18.3% rise is attributable to Aramco and joint venture partner France’s Total, bringing their Satorp refinery at Jubail to fu...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Power Expansions: Not Only More Capacity, But More Efficient
...velopment in Saudi Arabia with a combined generating capacity of 23.85GW. These plants are scheduled to add almost 40% to Saudi Arabia’s current generating capacity – estimated by MEES at 61.87GW at the end of 2014 – by the end of 2018. But these are not the only capacity expansions under way. Saudi ge...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
OPEC Vs NON-OPEC: IT’S JUST THE BEGINNING…
...above $65/B, has given rise to suggestions Opec’s November 2014 decision not to intervene in oil markets has been vindicated and the struggle for market share between Opec and its high-cost rivals has, in effect, been won by OPEC. Not so says the International Energy Agency (IEA). If anything, the ba...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Algeria’s Youcef Yousfi Ousted In Cabinet Reshuffle
...ries of protests in the Sahara Desert between December 2014 and March this year, raising renewed fears about security and stability in a country that had seen its fair share of militancy during the 1990s. The intensity of the anti-shale protests at In Salah highlighted an ill-conceived approach in de...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
He Ain’t Heavy, He’s My (OPEC) Brother
...e US has not imported a single barrel of Algerian crude since July 2014 (see graph). That’s not to say that the heavier grades are not feeling the impact of the US shale oil boom though to a lesser degree because US refineries, depending on their location, are not all configured to run the ultra-li...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
US Tries To Soothe Gulf Arab Fears Over Iran At Camp David Summit
...ANIAN NUCLEAR PUZZLE, JUNE 2014....
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
KRG Pushed To Breaking Point As Oil Deal With Baghdad Falters
...bil as well as a contribution to the salaries of the Kurdish Peshmerga forces, which have taken on the dual role of defending an extended border and pushing back IS fighters from adjacent territories. “This comes as the Kurdistan Region endures a heavy financial burden due to its 2014 budget being wi...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Dark Horse GS Energy Makes It To Adco Finish Line
...e 75-year concession in which Shell, Total, ExxonMobil and BP each had a 9.5% stake, expired in January 2014. It operates the integrated asset groups of Bab, Bu Hasa, South East (Sahil, Asab, Shah, Qusahwira, Mender) and the Northeast Bab (Al Dabb’iya, Rumaitha, Shanayel) cluster, accounting for ro...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Libya Could Run Out Of Cash Sooner Rather Than Later
...stitutions. Libya foreign exchange reserves plunged by a quarter in 2014. Without an upturn in oil earnings the country could run out of reserves in two years, according to a report by the Libyan Audit Bureau (LAB). And if oil production fails to increase in the coming months, even this could be optimistic, ac...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Bahrain 2015-16 Budget Deficit Soars
...nsolidation and to focus on gradually “retargeting subsidies to the lower income segments of the population,” the IMF said last year (MEES, 27 June 2014). The Bahraini authorities earlier in 2015 announced an increase of 11% in natural gas prices for industrial users and employee medical insurance fees, th...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Arabia Rigcount Continues To Rise And Hits New Record 126 In April
...oduction to near-record levels in 2014 of 9.5mn b/d crude and 11.3bn cfd gas, from 9.4mn b/d and 11bn cfd respectively. And with state-energy giant Aramco set to focus the bulk of its spending on upstream activities over the coming decade, this is a figure that is likely to rise going forward (see p6). UA...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 14-May 1-8 May 27 Apr-1 May Apr-15 Mar-15 Q1 2015 YTD 2015 Q4 2014...
Volume: 58Issue: 20Published at Fri, 15 May 2015