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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