- Sort by:
- Score
- Published ▼
-
Israel Products Output Down 17% Amid Maintenance, Strike
...vernment’s energy conservation measures began to take effect (MEES, 7 April). Increased use of gas has also been key to curbing Israel’s oil demand. Gas’ share of the power mix hit a record 55.4% in H1 2017, with Israel’s burning of fuel oil in power plants falling to virtually zero since 2014. Gas co...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
China Crude Imports Grow At Record Rate: Can It Last?
...tensity,’ measured in megajoules per dollar (see chart). World Bank data to 2014 show this falling steeply, whilst data from China’s National Energy Administration (NEA), published 24 August, show a further 14.6% fall between 2013 and 2016, Reuters reports. In other words, China’s GDP growth figures of 6....
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Iraq Hopes For IPSA Pipeline Access With Riyadh Rapprochement
...rkuk-Ceyhan pipeline) has been out of action since the IS advances of 2014. But July’s liberation of Mosul could result in Baghdad opting to repair this export link too. Talks have also been held with Iran over constructing a pipeline to export oil from Kirkuk via Iran. But this looks unlikely to be...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Iraq: Major Challenges Remain For New Oil Minister Despite Kirkuk Breakthrough
...ficials advocating Kirkuk oil be trucked to Iran in the interim, but the new agreement renders this already unlikely outcome even more so. As for whether a new revenue sharing agreement along the lines of the defunct December 2014 terms can be realized, there remains a considerable gap between their po...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Iraq: New Oil Minister Seeks Investors For Four New Refineries
...tween so-called Islamic State (IS) and federal forces beginning in June 2014. More recently, the 14,000 b/d Qayara refinery was virtually destroyed by IS fighters as they withdrew in July. The upshot is that even under the most optimistic calculations, capacity is just 566,000 b/d (see table). NEW PR...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Asian Importers Increase Gulf Crude Addiction
...recent years has gone into reverse since the start of 2016. For Japan and South Korea, imports from the Gulf rose above 85% of their total in the second quarter this year; for India the total hit 65% in Q2 having fallen below 60% in 2014 (see chart, and p16 for full Indian import data). IE...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Libya’s Wealth Fund In Leadership Showdown
...Libya’s Presidency Council (PC) has appointed an interim steering committee to administer the country’s main sovereign wealth fund, the Libyan Investment Authority (LIA). The move is an effort to clarify the lines of authority within the organization, which since 2014 have been split be...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
LIA Litigation
...A’s case against Goldman Sachs began in the UK High Court in June having been filed in 2014. The LIA alleges that the firm led the LIA to make derivative transactions that it did not understand and in which it lost billions of dollars in the financial market crash of 2008. It also alleges that in an ef...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
LIA Overseas Fund Calls For Partners
...e LAIP itself has been based in Malta since December 2014, when its Tripoli offices were overrun by fighting, and it has not been immune from the political struggles of a divided Libya. In the first half of 2015, the unofficial Government of National Salvation (GNS) in Tripoli petitioned courts in Ma...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Egypt Plans VAT At 13% From 1 October
...scal reform program began in July 2014 with a reduction in energy subsidies – since when oil prices have collapsed greatly helping Cairo achieve this goal (see chart) – and the levying of taxes aimed at slashing the budget deficit, which rose to 11.5% of GDP in fiscal 2015-16. A 14% VAT rate was ex...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Jordan Gets IMF Boost
...ojected $2.7bn this year from $3.3bn in 2015 and $5.5bn in 2014. DEFICIT UP, AID DOWN Jordan posted a budget deficit of JD291mn ($410mn) in the first half of 2016, up from JD223mn ($329mn) in 1H 2015, with the country hit by a fall in foreign grants to JD241mn ($340mn) from JD295mn ($41...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Erbil And Baghdad Take Oil Dispute Public, Again
...R says it was assigned responsibility for finding buyers for KRG crude oil and for agreeing with the previous buyers of the KRG’s oil (who had made pre-payments in 2014) to defer their outstanding pre-payments until 2016, to enable the KRG to receive the full $850mn per month during 2015. It was as...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Algeria’s Sonatrach Continues Relentless Battle Against Production Decline
...ALGERIA Algeria’s Sonatrach Continues Relentless Battle Against Production Decline Algeria’s crude and gas output fell for the ninth consecutive year in 2014, the Office of National Statistics (ONS) said in a report this month. The report said, compared with the 5.5% drop recorded in...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
The Only Way Is Down For Algeria’s Trade Balance
...0). Brent - which is of a similar quality and trades within a similar price range to Algeria’s Saharan Blend export grade – has averaged $48/B for August so far, some $9/B or 15% down on the average July price and less than half the average 2014 Saharan Blend price of $99.68/B. MEES analysis ex...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Kuwait Could Push Back Key Projects: Are Downstream Plans At Risk?
...mfortably below $50/B, implying a 49% fall from 2014’s $98bn to $50bn in Kuwait’s oil export revenues if prices remain at similar levels for the remainder of 2015 (see p10). In addition to the slide in prices, the shut-in of 500,000 b/d of shared Saudi/Kuwaiti Neutral Zone output has further hit the co...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Oil Burning In Gulf Countries On Course To Top 2014’s Record
...Oil Burning In Gulf Countries On Course To Top 2014’s Record TOTAL OIL BURN* (‘000 B/D) DIRECT CRUDE BURN: 1H15 DOWN ON YEAR EARLIER BUT JUNE FIGURES SUGGEST RECORD SUMMER (‘000 B/D) SAUDI FUEL OIL CONSUMPTION UP STRONGLY ON YEAR-AGO LEVELS (‘000 B/D)...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Saudi Shrugs Off Calls For Action Over Oil Price, Revenue Collapse
...eir lowest oil revenue in at least a decade (see table). Presuming that prices and output remain at levels seen in first seven months of 2015, this implies that revenue for the year as a whole will be just over $560bn, 42% down on 2014, and less than half 2012’s record level. And even this makes se...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Kuwait Summons Iran Envoy Over Disputed Offshore Gas Field
...st year a senior Saudi oil official told MEES that as far as Riyadh was concerned, based on an extension of the Saudi-Iranian demarcation line to Dorra, Iran has no claim to the field (MEES, 4 July 2014). This prompted a strong response by the Iranians who in turn said it was in fact the Saudis wh...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 42.56 41.41 43.21 51.15 59.86 58.02 48...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Iran Mulls Offering South Pars To IOCs As Opening Delayed
...l firms is intricately tied to the fate of ongoing talks between Iran and the P5+1 group of world powers over its nuclear program. Nuclear talks were due to have ended on 22 July, hence the roadshow scheduled for the second half (and originally the first half) of 2014. But, with a deal not re...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014