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Rosneft At Vanguard Of Russian Firms’ Mena Advances
...so included Trafigura, bought out 98% of India’s Essar Oil for $13bn. Rosneft has 49% of the company. Essar imported an average 151,000 b/d from Iran in the first seven months of 2017 according to Reuters, down 5% from the same period last year, some 42% of its total crude slate. India is Iran’s se...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Indian Crude Imports ('000 B/D): Saudi Continues To Lose Market Share To Top Supplier Iraq
...*PERCENTAGE CHANGE EXPRESSED IN PERCENTAGE POINT TERMS. SOURCE: INDIA CUSTOMS, MEES. INDIA’S TOP 3 CRUDE SUPPLIERS ('000 B/D): IRAQ HAS DECISIVELY OVERTAKEN SAUDI FOR TOP SPOT SINCE THE START OF 2017 WORLD’S TOP 5 CRUDE IMPORTERS: SAUDI VS IRAQ ALL EX...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Egypt Fuel Oil Upgrading Plans Struggle To Keep Up With Demand
...pacity for Euro V diesel. Overall ERC output capacity will be 4.2mn t/y. Egypt’s diesel demand averaged a record 305,000 b/d in the second quarter of 2017, up from 2016’s annual record of 297,000 b/d. The country’s diesel output has meanwhile flatlined at around 140,000 b/d since 2012, leaving Egypt re...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Iraq Sparking Up Gas-Fired Capacity, Despite Fuel Supply Constraints
...gh and pipeline imports from Iran have begun. Yet the amount of new generating capacity due online means that gas supplies will remain overstretched for the foreseeable future. Iraq’s peak power load was 14.35GW in 2016; in 2017 it is expected to be 7.7% higher at 15.45GW, according to the fe...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Libyan Output Fall Grants Opec Temporary Relief
...rget last month, with official figures showing production averaged 10.91mn b/d. Disruption from Hurricane Harvey caused US crude production to fall 750,000 b/d to 8.8mn b/d for the week ending 1 September (see p12). The US is not participating in output cuts, and its production has soared in 2017. Wh...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Qatar’s Economy Proves Resilient As Embargo Enters Fourth Month
...e causing delays and additional expense, but nothing that looks likely to prompt Qatar to alter course (MEES, 7 July). Qatar’s economy is proving resilient and the IMF still sees the budget deficit easing considerably from 2016. In a 30 August statement, the IMF projected that Qatar’s 2017 de...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Kufpec Splashes The Cash in Norway But 2020 Target Remains Distant
...kes some retrospective accounting gymnastics for Kufpec to include Bongkot in its 2016 output figure. The Thai purchase was announced in January 2017 (MEES, 3 February) but has yet to complete – Kufpec’s recently-released 2016 Annual Report says the acquisition is expected to be completed by end-2017. No...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Iraq Budget Amendments Push Projected Deficit Back Above $20bn
...Iraq’s 2017 budget has been amended as a result of a 21 August ruling by the country’s Supreme Federal Court. The court was ruling on the government’s appeal against amendments to the budget made by parliament in July – underlining the fractious nature of Iraqi politics and the government’s fr...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017