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Egypt Adds To Solar Plans, Looks To Fund Massive Power Expansion
...ril, down from 4.72bn for 2014 (see p8). Until it can revive upstream activity, the government has turned to LNG imports. EGAS recently began taking deliveries through a 550mn cfd capacity floating storage and regasification unit (FSRU) moored at Ain Sukhna. A second FSRU of 500-700mn cfd capacity is...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
US Petroleum 2Q 2015 Imports, Exports, Demand (‘000 B/D)
...15 4Q14 3Q14 2Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,020 6,...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Middle Eastern NOCs Look To Make Sense Of A Low Oil Price World
...developing infrastructure, especially in the downstream sector, including investing in three new refineries, with much of the materials procured locally, it adds. It cites Saudi Aramco’s 2014 Annual Review saying that between 2010 and 2014 a total of $143bn was spent on procuring services and ma...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Oman Budget Deficit Soars For 2014, Could Quadruple This Year
...OMAN Oman Budget Deficit Soars For 2014, Could Quadruple This Year Oman has posted a budget deficit of $2.75bn, 3.4% of GDP, for 2014, up more than 11-fold on 2013. With oil prices so far this year averaging $18/B below the $75/B on which the 2015 budget is based, the deficit could ba...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Jordan Taps Bond Market, But Syria Conflict Weighs
...arantee principal and interest on Jordanian sovereign bonds. The first was inked in 2013 for a bond of up to $1.25bn, the second in 2014 for up to $1bn, and the third in 2015 for up to $1.5bn (MEES, 5 June). When the third agreement was signed, the US said the guarantee is part of a broader US commitment to...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Saudi Savings Fall
...ril and $66bn (9%) from their August 2014 peak of $746bn. With the kingdom’s (and Opec’s) policy of maximizing market share rather than cutting output to support prices, Saudi Arabia’s oil revenue is likely to remain at relatively-subdued levels for some time to come. And while the Saudi go...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Iran’s Oil Production Boost Scenarios In A Post-Sanctions Era
...ss energy and boosting efficiency, while in the EU there is economic stagnation. Globally, there is an oversupply in the oil market, which contributed to oil prices plummeting in 2014. This downward trend created huge uncertainty and speculation in the market. The sharp oil price fall in 2014, du...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 56.93 60.20 59.89 59.86 59.43 58.02 53...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Will Fujairah Get With The LNG Bunkering Trend?
...G bunkering demand scales up: at this stage, it is only capable of ship-to-ship LNG transfers. On The Rails? LNG is also looking like an increasingly viable option for long-haul road and rail transport. The US Energy Information Agency (EIA) predicts in its 2014 Annual Energy Outlook that LN...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Aramco Doubles Stake In Korean Refiner, Part Of Global Downstream Push
....5 Total 400 Total Current Domestic 2,505 Yasref (2014) 62.5 Sinopec 400 Jazan (20...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Saudi Hikes Generation Capacity, Boosts Combined Cycle Usage
...airman Salih al-Awaji says the firm plans to spend SR500bn ($130bn) adding 21 power plants totaling 20GW through 2018. The company’s current projects pipeline totals 18.26GW by this date. CCGT generation figures for 2014 will likely be boosted by SEC’s completions of a 3.92GW plant at Qurayyah, in...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Iranian Oil Sales Stay High In May Amid Bumper Chinese Buying
...ar. India has been the next biggest ‘violator,’ taking on an average of 309,000 b/d in the first five months of 2014, 41% up on the corresponding period in 2013. India last week paid some $550mn to Iran to clear part of its total dues for past oil payments, raising prospects within India of a further en...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Genel Optimism As KRG Output Soars
...vanced across northern Iraq (see graph). The firm says neither its output nor exports are threatened. Gross production from Taq Taq rose to 113,000 b/d of oil equivalent in June and averaged 92,000 boe/d in the first half of 2014. Gross production from Tawke was 116,000 boe/d in June and average fi...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Egypt’s 2014-15 Budget Slashes Energy Subsidies, Deficit
...EGYPT Cairo aims to reduce its budget deficit for the 2014-15 fiscal year by more than originally envisaged, necessitating spending cuts that will largely come from curbing energy subsidies that have crippled government finances. The cabinet this week signed off a final budget with a de...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Benchmark Crude Prices ($/B)
...OIL PRICES 03 Jul 23-27 Jun 16-20 Jun Jun-14 May-14 Q2 2014 Q1 2014 2013 20...
Volume: 57Issue: 27Published at Fri, 04 Jul 2014 -
Libyan Oil Sector Buckles Under Protester Pressure
...illing, slated to begin in October 2014. NOC is hoping BP’s three-year, five well-offshore drilling campaign will establish a new gas producing province. Current Libyan Crude Output (MEES estimates)- Total 1.06 mn b/d Company Foreign pa...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Iran-Pak Pipeline Inches Forward But Completion Unlikely Before 2017
...s demand at over 12bn cfd. “It is not an issue of whether they need it or not – they do need the gas, but 2014 is not realistic,” Praveen Kumar, head of Facts Global Energy’s South Asia Oil and Gas team says tells MEES, highlighting funding – or a lack thereof – as the key factor delaying th...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Iran Takes Steps Towards Planned Tripling Of Gasoline Output
...pplant regular gasoline, although prices would not be raised. Tabriz and Isfahan would be the next cities to receive cleaner gasoline, with deliveries being extended to other major cities by the end of March 2014. On 28 June NIOPDC reported that Iran’s average daily gasoline co...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Indonesia Spikes Aramco Refinery, Knocks Back KPC
...rticipate in a 200,000 b/d refinery CNPC is building in Kunming in southwest Yunnan province. This will probably be completed end-2013/early 2014. This will be supplied by an oil pipeline from the port of Kyaukphyu in Myanmar, bypassing the Strait of Malacca. The refinery is scheduled for end-year testing bu...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Jordan Hit By Syrian Overspill, Moody’s Downgrades Two Notches
...12, compared to an average deficit of 4.6% of GDP over the period 2005 to 2008. But the ratings agency expects an improvement in the deficit in 2013 and 2014, which is to remain high at over 5% of GDP and is “highly dependent on a successful fiscal-consolidation strategy.” *An acceleration in...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013