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S&P Junks Iraqi Bond
...GDP in 2014. S&P is also projecting public debt to rise to 65% of GDP in 2015-18 from about 39% in 2014. With the collapse in oil prices, the agency expects the current account which had an average surplus of 10% of GDP in 2011-14 to turn to a deficit averaging 3% of GDP in 2015-18. Iraq plans to...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 45.92 46.73 40.79 42.90 51.15 58.02 48...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
South Sudan Oil Shutdown Leaves Indian Firm Reeling
...tronas have each lost just over half their output since 2011, with the bulk of this since the start of the current conflict, ONGC has seen its output reduced to zero (see table). For the year to 31 March 2014, ONGC’s South Sudan output was just below 6,000 b/d, according to the company’s latest annual re...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Qatar Hires Rigs In Boost To Crude Output Plans
...ur wells of a 51-well program aimed at plateauing production at 300,000 b/d, and the firm is currently discussing with QP further development plans. As of the end of the second quarter, Maersk had completed just 10 wells of the $1.5bn, 51-well program that was expected to be completed by the end of 2014...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
MENA Active Drilling Rigs, August 2014: New Saudi, Kuwait Record; Iraq Drilling Slump*
...MENA Active Drilling Rigs, August 2014: New Saudi, Kuwait Record; Iraq Drilling Slump* Au...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Egypt: Gas Shortage Fuels Record Diesel Demand
...0,000 b/d of products imports (assuming most is diesel in line with Egypt’s current import slate), the equivalent of around 90% of Egypt’s first half 2014 import requirements on a net basis (see table). Already products imports have soared. Overall net products imports hit a record 277,000 b/d in June. Fu...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Demand For OPEC Crude Revised Down Again
...eks. Given the almost certain dent to world oil demand this implies, OPEC could be looking at further cooling of demand for its crude over the coming years. Demand Slowdown Demand for OPEC crude oil will average 29.90mn b/d for 2014, the Paris-based IEA says in its latest oil market co...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Oman Oil Secures $1.85Bn Loan Facility
...n a total of $2bn-plus in contracts related to key downstream projects. Need For Capital Markets Oman’s oil revenues for the first five months of 2014 fell 2.6% to OR4,335mn ($11,271mn), compared to a year earlier, while gas revenues fell 1.9% to OR594mn ($1,544mn). Despite this, Oman re...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Egypt Eyes $12.5bn Powergen Investment
...nistries of petroleum and finance. Egypt’s urban inflation rate rose to 11.5% for the year to August, partly due to the 5 July hike of petroleum product prices by as much as 77%, following the decision to cut petroleum products subsidies in the 2014-15 budget to E£100bn ($14.0bn), in a bid to reduce th...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Tunisia Eyes Foreign Investment Tonic
...11. The growth rate in the first half of 2014 fell to 2.1%, down on the same period last year, and is insufficient to absorb growing unemployment estimated at 15.7% in 2014. For the Tunisian authorities the main goal of the conference was to restore investor confidence through the government’s “st...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Iran Official Crude & Products Output, Consumption And Trade Figures To June 2014 (‘000 B/D)
...Iran Official Crude & Products Output, Consumption And Trade Figures To June 2014 (‘000 B/D) Jun-14 vs May 14 May-14 Apr-14 2Q14 vs...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Turkish Crude Imports, 1h 2014 (‘000 B/D): Iran Regains Top Spot
...Turkish Crude Imports, 1h 2014 (‘000 B/D): Iran Regains Top Spot 1H14 vs 1H...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 11-Sep 1 - 5 Sep 25 - 29 Aug Aug-14 Jul-14 Q2 2014 Q1 2014 20...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Libya’s NOC Tries To Look Beyond Continued Chronic Instability
...oduction resume from eastern fields, output could average 500,000 b/d in the fourth quarter, while the longer term forecast is for a production average of 800,000 b/d, assuming that some groups will keep substantial volumes offline, through 2014 and 2015. “In the meantime, the risk of state collapse re...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...abiyah non-associated fields had been expected to come online in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Also starting up in 2014...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Revisits Hydrocarbon Contracts In Effort To Boost Output
...uld cut its current account deficit, and save up to $8.5bn in foreign exchange over the current fiscal year (April 2013-March 2014) by increasing its reliance on Iranian oil, for which it is in theory able to pay entirely in rupees (MEES, 8 September). And while Tehran is yet to give an of...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Abu Dhabi Puts Tacaamol Back On Track With Aromatics FEED
...integrated BTX unit would produce benzene, toluene, paraxylene, orthoxylene and metaxylene, as well as light naphtha and LPG for export. The Tacaamol schedule has slipped from the initially envisaged 2014 start-up. Until recently Chemaweyaat had been looking to start FEED work in late 20...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Oryx GTL: Sasol Cautiously Optimistic
...gher US GTL feasibility study cost.” Sasol plans to debottleneck Oryx by 2014 in a drive to boost capacity by 10%; however, industry sources indicated to MEES that this may slip back to early 2015 (MEES, 16 August). The Oryx plant’s current production capacity is 24,000 b/d of gasoil, 9,...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Turkey Orders Turbines
...tsubishi Electric. The plant is scheduled to go onstream in 2015. Meanwhile, Abu Dhabi’s TAQA has deferred to 2014 a decision on the development of up to 7GW of coal-fired power capacity and associated mines in the Afsin-Elbistan region with Turkey’s Electricity Generation Company (EÜAŞ). The fi...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
OPEC, IEA Say Oil Market ‘Well Supplied’ Despite Ongoing Disruptions
...ice of oil. 2014 Call Edges Down With the supply disruptions hitting a number of OPEC’s key members over the past quarter, the MOMR puts total August output for the producer group at 30.23mn b/d based on secondary sources, down around 124,000 b/d on its July estimate of 30...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013