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Egypt Touts $33bn Gas Investment, But Receivables Worry Remains
...00 STANDARD LEGACY PRICE 2.65 *PAID TO IOCS FOR EGYPT PRODUCTION **$2.96/'000FT³ FOR 2014 ($2.65 WITH UPWARDS ADJUSTMENT FOR LIQUIDS CONTENT). CASH CRUNCH Mr Molla says that Egypt’s dues for foreign firms active in the co...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Dubai 50% Splitter Boost
...s share of the UAE diesel, jet fuel and LPG markets. Enoc expanded the capacity of its twin-splitter Jebel Ali plant from 120,000 b/d to 140,000 b/d in 2012. Further expansion has been planned for some time, with Enoc awarding US engineering firm KBR a front end engineering design contract in 2014...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
US Data: Reading The Runes
...oks very modest when set aside the peak rig count of 1,609 hit in October 2014 (see chart 1). On the back of this increased drilling there are initial indications that US crude output may finally be close to bottoming out. Latest provisional US production data show crude output falling by a fu...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Libya: Zueitina Crude Shipment Threatens To Be False Dawn
...ntain about 3,080,000 barrels of crude oil and 180,000 barrels of condensate,” added NOC. The Zueitina terminal, which has an export capacity of 250,000 b/d, was shut down in April 2014 and has operated for only brief periods since (most recently in October 2015 MEES, 6 November 2015). It has been cl...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Egypt Secures Saudi-UAE Cash For IMF Facility
...volving further devaluation of the Egyptian pound. Egyptian officials reiterated this week that the government plans to end fuel subsidies within three years. This tallies with its earlier plan unveiled in July 2014 to phase out fuel subsidies over a period of five years. Spending on petroleum su...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016