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Bahrain: New Minister Challenged By Oxy/Mubadala Withdrawal
...0,942 b/d of Arab Medium crude in 2015. Bahrain gave up its territorial claim to the area surrounding the field in the 1950s in return for half of the field’s output. Meanwhile, imports from Saudi Arabia averaged 216,000 b/d last year, up from 208,000 b/d in 2014. These are through an ageing 230,000 b/d pi...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Iran Taps Koreans For Tabriz Refinery, Eyes $3.3bn Siraf Funding
...esel output from Tabriz at the expense of fuel oil. No schedule was announced, but the study is expected to take six months, according to Mehr News Agency. Latest data available from NIORDC show Tabriz refinery producing 21,000 b/d of gasoline and 42,000 b/d of gasoline in 2014, when fuel oil ou...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
OPEC May Production Drops Despite Saudi And Iran Increases
...rt. OPEC WELLHEAD PRODUCTION, May 2016 (MN B/D, MEES ESTIMATES) May '16 chg Apr '16 Mar '16 May 16 v 15 Jan-May'16 v J-M15 Jan-May'15 2015 2014 S Arabia* 10.2 0....
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
US Imports More Gulf Opec Crude As Production Continues To Fall
...lumes from Iraq in May. Iraq supplied the US with 506,000 b/d of crude according to weekly data from the US government’s Energy Information Administration (EIA), the highest amount since August 2014. Iraq exported a record-equaling 3.36mn b/d of Basra Light crude in April with not just the US, but also In...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Israel: Leviathan Plan Approved But Sales Still Needed
...port it to. Israel’s Zemach committee put a 540 bcm cap on the gas reserved for the domestic market and not on what it exports (MEES, 5 December 2014). So whether Leviathan produces 500 bcm, as the government estimates, or 620 bcm according to the partners, will not make a huge difference as it was no...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Saudi Arabia’s Transformation Plan Already Running Out of Time
...netary Agency (SAMA) 2015 Annual Report put the private sector contribution at 41.1% of GDP in 2014. Growing the private sector is key to the government’s aims of reducing unemployment among Saudis and reducing the public sector wage bill. But key obstacles to previous efforts to increase employment of...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Iran Struggles To Attract Investment Amid Continued Sanctions, Both Real & Perceived
...clear capability, has had a crippling impact on its economy. After these sanctions were tightened further in 2011, Iran’s roughly $420bn economy shrank by about 9% in the following two-year period that ended in March 2014, according to the IMF. Crude oil exports fell from 2.48mn b/d in 2011 to ju...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Iraq Plans Eurobond By End-2016
...onomy out of recession despite low oil prices, with real GDP estimated to have risen to 2.4% in 2015 from a contraction of 2.1% in 2014. The bank’s forecast for 2016 is GDP growth of 7.2%. DESPITE RECORD VOLUMES, JAN-MAY IRAQI CRUDE EXPORT REVENUES WERE way BELOW BUDGET *IMPLIED BUDGET TA...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016