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Baghdad-KRG Refining Deal Eases Light Products Shortfall
...eraged 591,000 b/d in April, according to the latest information submitted by the ministry to the Riyadh-based Joint Organizations Data Initiative (Jodi). This is the highest monthly level since the 600,000 b/d reported in May 2014, the month before the onset of fighting between IS and federal forces in wh...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Iraq Plans New Refining Capacity
...0,000 b/d refinery at Karbala, which the ministry decided to build without foreign investment. The ministry awarded a $6bn engineering, procurement and construction contract for Karbala in 2014 to a Korean consortium led by Hyundai Engineering & Construction. The Hyundai-led group has at times ha...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...e kingdom so far having prioritized its core buyers in Asia and the US. The big four Asian buyers – China, Japan, South Korea and India – took a record 4.216mn b/d in Q1, while the 1.285mn b/d purchased by the US was the highest since Q1 2014. The implication is that supplies to Europe are being sq...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...so sharply down, and imports up, lower prices mean that Tunisia is receiving three times as much gas from Algeria in lieu of transit payments than in 2014; so paid-for volumes (also from Algeria) are down (see charts 2 & 3). Tunisia’s oil production was already down 6% at 44,300 b/d for the fi...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Doha’s Diplomatic Dispute – The Financial Impact
...nctions came into effect - and the stock market shrank by about $11bn in value the following day, the largest drop since 2010. It went on to post its worst weekly performance since 2014. International ratings agency S&P Global Ratings wasted little time in responding to the move. On 7 June, it lo...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017