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Libya’s Oil Production Gains May Flatter To Deceive
...bya’s oil sector since late 2014 did not give much reason for hope. Prior to 2017, the last time that oil output had exceeded 600,000 b/d was in the first half of April 2015; the last time that it averaged more than 600,000 b/d over the course of a month was in November 2014. The figures for 2017 ha...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
Saudi Crude Exports At 33-Month Low As Refineries, Power Plants Take More Crude
...arply, to just 6.89mn b/d in June, their lowest level since September 2014, as refineries process just below record levels and direct crude burning in power plants rises seasonally (see charts and p8 for full data). The decline in Saudi crude exports is giving Iraq and Russia in particular a chance to...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
US Shale Output – Gains Continue Despite Cost-Cutting, Fewer New Rigs
...ministration indicates expected average June-September monthly gains for seven key US shale formations of 124,000 b/d, a level of growth in line with levels seen in the boom year of 2014. The latest projections have September output up 980,000 b/d year-on-year. Given that December last year was only up fr...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
Dana Gas: Profits Up, Litigation Up, Zora Write-Down Looms
...o levels. Dana added $100mn to its debt pile to fund development of Zora (MEES, 12 September 2014); at start-up less than 18 months ago it said output would ramp up to 40mn cfd (MEES, 3 March 2016). Output is set to dwindle further. The firm has looked into the economics of a well intervention pr...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
TransGlobe: Exploration Write-Dow, Cargo Delay
...ed foreign firms $2.3bn at end-June, down from $3.4bn at end-2016 and a 2014 peak of over $6bn. As with Dana Gas, TransGlobe says gaining the direct ability to market its output in 2015 has been key to getting receivables down. And on the surface this has been a remarkable success. From a peak of...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017