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Opec Revenues Set For 2022 Windfall After 2021 Turnaround
...cession could take the edge off recent highs is the focus. Still, even if oil prices pull back from their recent $100-$120/B range, the group is on course for its highest revenues since 2014 when it took $901bn. If the January to May average price of each Opec member’s key export gr...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Yemen Upstream Hit By OMV Exit
...e post-2011 security situation forced delays, production hit a record 14,500 b/d in 2014 (6,400 b/d net to OMV). With Yemen’s conflict continuing to deter foreign firms, few emulated OMV and returned to the country. Indonesia’s Medco Energi returned to its Block 9 in the less-volatile Ma...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Abu Dhabi Reaps Clean Energy Rewards
...3 trillion BTU of natural gas last year, which equates to around 2.2bn cfd. This was the lowest figure since 2014, thanks in large part to the start-up of Barakah. Although Ewec’s total power generation also dipped last year, at 84.7TWh, it was still the second highest annual figure on record. NU...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
Algeria’s Gas Exports Reach Decade High
...gnificantly boosted sales gas output (MEES, 21 May). So much so that Algerian production of 29bcm (11.4bn cfd) in the first quarter of 2021 was the highest on record. Although volumes dropped somewhat in April to 9.6bn cfd, this is still the highest April number since Algeria began reporting data to Jodi in 2014...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
QP Ousts Maersk At Key Qatari Oil Field Amid Sectoral Revamp
...lieve oil prices have now bottomed out, but where’s the light at the end of the tunnel for tumbling LNG prices? Prices for Qatari LNG to its largest buyer, Japan, have fallen from $16.79/mn BTU in 2014, to $10.65/mn BTU last year and in May were just $5.55/mn BTU. The preponderance of new supplies se...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Algeria: No Cash, Investment Slashed… Output To Soar. Come Again?
...e most recent bid round in 2014. A follow-up round has been repeatedly delayed: probably best to save the country’s blushes given that there is no sign of improved terms. And the potential for the country to invest its own cash has dried up with the collapse in oil and gas prices: hydrocarbon ex...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Iran Hits The Med As Market Share Battle With Saudi Intensifies
...e it left. The country’s crude imports declined 25% between 2011 and 2014, though 2014 volumes of 1.08mn b/d rebounded somewhat to 1.25mn b/d last year on the back of improved refining margins. Run rates at Italy’s refineries rose 11% from 71.6mn tons in 2014 to 79.1mn tons last year. But as margins ha...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Opec Revenues Set To Fall Further In 2016
...PORT REVENUES AT 10-MonTH HIGH DESPITE LOWER VOLUMES AS PRICES EDGE ABOVE $40/B FEDERALLY-CONTROLLED EXPORTS ONLY. SOURCE: IRAQ OIL MINISTRY, MEES EST. BAD TIMES TAKE THEIR TOLL The end of high prices in 2014 has exposed divisions within Opec with its weaker members in...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Jordan-Anbar Border Crossing An Economic Lifeline
...porters, as Jordanian exports going through Basra now cost 10-15% more due to the extra time. According to official statistics recently reported by Jordan’s Al-Ghad newspaper, the six-month closure in 2015 meant exports to Iraq fell to $695mn from $1.2bn in 2014. Earnings will have collapsed again this ye...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Oman’s PDO Bags $4bn Loan To Facilitate Bumper $20bn Upstream Plans
...nuary it raised a $1bn loan (priced at 120bp over Libor) to part finance the $8.6bn budget deficit in 2016 (MEES, 22 January). Oman Oil Company (OOC) plans to borrow $1bn to finance the BP operated Khazzan gas project. In September 2014 OOC raised a $1.85bn revolving credit facility put together by lo...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016