The US Shale Gas Revolution: A Threat To Gulf LPG Exporters

...r 2014 and 2015 will see US LPG exports to Japan increase. Korean firms are negotiating contracts to import LPG as well. Threat To Pricing The basis of US LPG prices differs entirely with that of Gulf LPG exports, a dynamic that will put pressure on margins of Gulf sales into Asia. Saudi Ar...

Israel Refineries Hit Throughput Record, Diesel Exports Boom

...ISRAEL Israel’s refinery output hit a record 291,000 b/d for the first half of 2014, up 16,000 b/d on a year earlier as the country’s second largest plant in Ashdod completed a significant upgrade. Exports, especially of diesel, are rising even faster. Israel  has been rapidly sh...

GTL Back On The Radar For Mideast Downstream Planners

...oposed         Iran Sarv/IDRO GTL Pilot, Saveh †1 2014 Iran RIPI Qeshm GTL, Qeshm Island 3 20...

GCC ‘Spat’ Takes On New Dimension

...ar from September 2014. Egypt will reimburse the UAE over four years at an interest rate of 2-3% with a year-long grace period, according to the daily. This will follow the expiration of Saudi oil product aid in August. Saudi Arabia, Kuwait and the UAE rushed to provide $12bn in grants and loans to...

Saudi Arabia Advances Stock Market Opening

...rket participants – can criticize the regulatory framework and suggest modifications. This framework is therefore likely to be amended in light of the feedback the CMA receives in the three-month period ending on 20 November 2014. The CMA regulations published on its website on 21 August stipulate th...

Rohani One Year On: A Glass Half Full Or Half Empty?

...IRAN By-Jahangir Amuzegar* 1 August 2014 marks the first anniversary of Hojatol-Islam Hassan Rohani’s accession to the Islamic Republic’s presidency. A mid-level Shiite cleric having an advanced degree in theology from a Scottish university, Mr Rohani defeated his five non-turbaned ri...

Chinese Crude Imports, January-July 2014 (‘000 B/D)

Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, 1h 2014 (‘000 B/D)

Benchmark Crude Prices ($/B)

...OIL PRICES     28-Aug 18 - 22 Aug 11 - 15 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 20...

Iraq Shake-Up: CNPC Enters West Qurna-1; Shell Slammed Over Majnoon

...ly and the 40,000-60,000 b/d first phase of Gazprom’s Badra oilfield now postponed to early 2014. The West Qurna-2 development led by Russian Lukoil is due to start up at the end of the year at an initial rate of 100,000 b/d, but MEES soundings suggest the timetable may slip to early next year be...

Iran Gas Supply Deal Back On For Gas-Hungry Oman

...oduction from which, Iran says, could begin as early as March 2014 – although MEES views this timetable as rather unrealistic (MEES, 24 May).   “We had a number of issues in the past about putting up a pipeline, but both countries are still very keen to see that project [be implemented],” Mr Rumhy sa...

Iran Dusts Off Refineries Plan As Zanganeh Takes Charge

...rs gas field. State news agency IRNA says the first of the project’s three 120,000 b/d condensate splitters is two-thirds complete and scheduled to start up in 2014 (MEES, 15 March).   NIORDC boss Alireza Zeighami says Tehran authorized the company to spend up to $5bn to speed up construction of...

Tunisian CO2 Study May Scupper Plans For Zarat Development

...om West Africa, providing a steady revenue stream despite cashflow constraints having led PA to slash capital expenditure by more than 80% for 2012. A commitment well for the company’s Makthar permit in northwest Tunisia has been pushed back to 2014 with the company granted two years’ licence ex...

Mauritania Looks To Offshore Gas To Fuel Its Energy Future

...late to whether development will be of gas alone or include oil. Tullow also expects to take a final investment decision next year with first commercial production from between two and four wells slated for 2014 or 2015. Other nearby offshore discoveries, also operated by Tullow, could potentially be ti...

Russia Consolidates Its Position In Iraq Upstream Petroleum

...rward to early 2013, with 60,000 b/d expected by mid year, and 120,000 b/d by the beginning of 2014”.15     As long as the stalemate and differences between the federal government and KRG remain (and the resolutions appears to be remote for the time being), the problem with ExxonMobil is not re...

Qatar To Boost Naphtha Output From GTL Plant And Condensate Splitter

...09. By 2014 it will have debottlenecked and installed a gas oil hydrotreater to produce low sulfur diesel – less than 10ppm. Europe’s demand for low sulfur diesel of this quality will increase during 2014-16 as its tightened product specifications kick in. The splitter’s current production ca...

TAQA Set To Continue With Bergermeer Open Season As Planned

...pacity to customers in a first round, for periods of four to 10 years beginning in 2014, while a second open season for capacity allocation in 2015 and beyond is scheduled for 2012, after the Dutch high court’s final verdict on the appeals. “What we are doing is tailoring each of the open seasons to tw...

Hawrami Eyes Filling Half Nabucco, As Pipeline Consortium Targets Iraqi Gas

...on as 2014, Mr Hawrami says. Last year, OMV and MOL formed a joint venture with the UAE’s Crescent Petroleum, potentially worth $8bn, for the development of the Khor Mor and Chemchemal fields to supply gas into Nabucco (MEES, 25 May 2009). A dispute between Mr Hawrami and Crescent put a stop to dr...

CPC Considering Borrowing $1Bn For Pipeline Expansion

...pacity from 28mn tons/year to 67mn t/y by 2014. Mr Tarakanov said in July that pipeline throughput is currently 34mn t/y, aided by the utilization of drag reducing agents. Phase 1 of the expansion, which would be completed in 2012, would raise throughput capacity to 35mn t/y....

Cyprus Expects LNG Delivery Negotiations To Conclude In Six Months

...ppliers of LNG to be concluded within six months, Costas Ioannou, Executive Chairman of the Public Natural Gas Company (DEPA), told the Cyprus Mail on 24 August. Last November Nicosia invited bids on a 20-year contract for delivery of 1 bcm/year of LNG beginning 2014. The government plans to build a €80...