Saudi-Kuwait Neutral Zone Back Online

...Saudi Arabia and Kuwait have brought production at their Partitioned Neutral Zone (PNZ) back online after a one-month hiatus (MEES, 22 May). There is now production from both onshore and offshore fields for the first time since October 2014 (MEES, 24 October 2014). After production wa...

US Output Bottoms Out As Exports Target China

...e result of the kingdom’s decision to hike output to record levels in April, saw arrivals in the US average 1.5mn b/d for the five weeks to 19 June – substantially higher than any monthly figure since 2014 – before dipping to 826,000 b/d for the week ending 26 June (see chart). ARMADA RECEDES: US...

Italy Crude Imports: Record Saudi Volumes, Overall Collapse

...2,000 b/d the highest monthly figure since 2014. Given the collapse in overall volumes, this was also enough to see Saudi surge past the top three 2019 suppliers Iraq, Russia and Azerbaijan (MEES, 6 March) to take the top supplier spot for the first time in at least six years. Iraq volumes slumped to 10...

Egypt’s Economy & Energy Sector Reel From Covid-19

...w for April (see chart, p7).  With the power sector accounting for 55% of Egypt’s gas consumption, and industrial activity also down, it is no surprise that overall gas use is also at the lowest level since 2016 (see chart 3). From a chronic gas shortage for 2014-17, Egypt rapidly switched to...

Saudi Arabia Oil & Gas Rig Count*: Gas Drilling Slashed In June, Rigs Down 10 To 41, Lowest Since October 2014. Oil Rigs See Minimal Rebound, Up One To 54