United States Latest Oil Imports, Exports, Demand (‘000 B/D)

...15 vs1Q15 vs2Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,806 7,487 7,...

Japan Crude & Condensate Imports, 1h 2015 (‘000 B/D): Russia Edges Past Qatar Into Top 3

...1Q15 vs2Q14 Jun-15 May-15 2014 Rank 2013 2012 Middle East 2,798.4   -19...

Turkey Crude And Gas Imports

...Turkey Crude Imports , 1H 2015 (‘000 B/D)   2Q15 vs1Q15 1Q15 1H15 vs1H14 vs2H14 2014 20...

Benchmark Crude Prices ($/B)

...15 2014 2013 2012 WTI 41.32 43.21 44.92 51.15 59.86 58.02 48...

Algeria Delays Bid Round Once Again

...secure foreign investment in its upstream. Algeria: Blocks On Offer In 2014 Bid Round...

South Sudan Oil Sector Takes Hit With Exxon Exit

...rm-in agreement as of April 2014,” Total said in a 19 August statement e-mailed to MEES, without going into further detail. ExxonMobil declined to comment, though the ongoing conflict – and the lack of clear prospects for a solution – could go a long way towards explaining the company’s decision. Re...

DRPIC Tenders Duqm Refinery Site Prep

...rk tender is expected to be followed by prequalification for an engineering, procurement and construction (EPC) contract for the refinery in third quarter 2014. DRPIC appointed Shaw Group as project management consultant for the 230,000 b/d refinery in August 2012. The US contractor’s energy and ch...

Dragon Oil’s 1H14 Output Falters As Ambitions Soar

...fshore Cheleken contract in Turkmenistan, in which it holds a 100% stake, stood at 73,440 b/d for the six months to 30 June 2014, slightly down on the corresponding period last year (see table). June production rose to 76,100 b/d, but these numbers may be slightly misleading: in June 2013 for ex...

Oman Oil Names Former Oxy Executive As New CEO

...ins OOC with more than two decades of experience in the oil and gas sector, having previously worked for US independent Occidental (Oxy) and Oman’s Ministry of Oil and Gas. He served as President and General Manager of Oxy Oman between 2009 and 2014, before being promoted to Senior Vice President for Bu...

Iran Stimulus Plan Approved As Debt Piles Up

...an (CBI) showed that GDP contracted by 1.9% in the Iranian year 1392 (March 2013-March 2014). In the preceding year, the growth rate was negative at 6.8%.    The stimulus plan identifies several obstacles to economic revival, namely a shortage of financial resources, low domestic demand, falling in...

Kuwait Unveils New Five-Year Development Plan

...e new plan. As of January 2014, the Kuwait government had spent only 57% of the allocated expenditure in the current plan. Kuwait’s development process has suffered in the past few years from the absence of decision making, given the ongoing political bickering between the government and parliament. Fr...

Benchmark Crude Prices ($/B)

...OIL PRICES   21-Aug 11 - 15 Aug 4 - 8 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 2013 20...

Egyptian Oil & Gas Output, May 2014: Oil Steady; Gas At Lowest Level Since 2006 (4.8 Bn Cfd)

Saudi Arabia Stems Domestic Oil Demand Growth

...of the offshore 1.3bn cfd Hasbah and 1.2bn cfd Arabiyah non-associated fields in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Al...

Orpic Tenders Liwa FEED As Oman Joins Middle East Plastics Boom

...increased propylene supply. Deliveries will be raised by 30,000 t/y to 80,000 t/y beginning 1 January 2014 as APC hikes PP output.   2013 Additions To Middle East Petrochemicals Projects Pipeline Operator(s) Location Start-Up...

Wind Power Dominates Near-Term MENA Renewables Projects Mix

...entified six potential sites for new wind farms in the Gulf of Suez area. It has invited companies to prequalify to develop 100MW projects. France’s GDF Suez is currently building Africa’s largest wind project, the 300MW Tarfaya wind farm in Morocco. This is due online at the end of 2014. Meanwhile, in Tu...

Uncertain Fundamentals Threaten To Ambush Projections

...OPEC   Uncertain Fundamentals Threaten To Ambush Projections   OPEC ministers will have to contend with a series of challenges when they meet in December as they contemplate the impact of soaring US-led non-OPEC oil production and an anticipated slump in demand for OPEC oil in 2014...

SEC Head Resigns, Replacement To Come From Aramco

...ecutive of the state utility in October 2006, will step down from his post officially on 1 January 2014. SEC has already lined up his successor – Ziad bin Muhammad al-Shiha, currently Executive Director for Power Systems at state oil firm Saudi Aramco.   Mr Barrak instigated a major expansion of ge...

Rohani Promises Iranians Better Days Ahead

...ES, 9 August). Iran’s real GDP fell 1.9% in 2012 and is projected to fall by a further 1.3% in 2013, before rising 1.1% in 2014, according to the IMF’s World Economic Outlook.   Iranian Vice-President Ishaq Jahangiri has warned that about one-third of the Iranian budget for fiscal year ending on 20...

Bahrain GDP To Hit 5.6%

...l production from Abu Sa’fa due to maintenance. The non-hydrocarbon sector is expected to rise by 4.4% in 2013. For 2014 real GDP is projected to grow by 4.0%.   Due to its modest hydrocarbons endowments, Bahrain had managed to diversify its economy between 2000 and 2012, according to the Ye...