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GCC Fertilizers Capacity Hits 41Mn T/Y, But Feedstock Crunch Awaits
...mpeting technologies may curb their ambitions. GCC fertilizer capacity rose from 20.2mn tons/year in 2004 to 40.9mn t/y in 2014, according to the Gulf Petrochemicals and Chemicals Association (GPCA). Capacity grew by 4% in 2014 alone, according to the GPCA’s freshly-released ‘Fertilizers Indicators 2014...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Iraq Slashes Investment Threatening Oil Output Gains
...te 2014, more or less held from February to May this year, it has since broken down. For July and August the KRG handed over a mere 60,000 b/d to federal marketer Somo at Ceyhan. So while total Iraqi crude exports (including the KRG) have been, at 3.18mn b/d so far this year, within touching di...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Jordan $7bn China Deal To Fund Shale-Burning Power Plant
...rchase agreement. Apco and Nepco agreed on a unit cost of 95 fils/kWh ($0.13/kWh), which compares with an average cost of 170 fils/kWh ($0.24/kWh) from Jordan’s existing power plants (MEES, 18 July 2014). Apco has contracted China’s Guangdong Power Engineering Corporation (GPEC) to build the power pl...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Venezuela Steps Up Campaign To ‘Stabilize’ Oil Prices
...ading at around $49/B as MEES went to press, down from around $65/B three months ago, $99/B 12 months ago, and above $110/B in late-June 2014 (see p20). And Venezuela’s mostly heavy crude typically trades at a big discount to Brent – for August the country’s Opec basket component Merey averaged $35...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
North Africa Security Special Report: Too Late To Roll Back Islamic State?
...ficials, it was the only country in the Middle East and North Africa region not to suffer from terrorism in 2014. The most recent major attack in the kingdom was in April 2011, when 17 people were killed and 25 injured in an explosion at a restaurant on Djema el-Fna, the main square in Morocco’s tourist hu...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Cairo Reshuffle Sees Oil Minister Appointed PM
...64% from E£1.1 ($0.15)/liter. Higher grade 90 Octane gasoline was raised by 41% (MEES, 11 July 2014). This has resulted in spending on oil product subsidies halving to $10.8bn or 9.5% of total spending for the 2014-15 financial year. For the current year it is budgeted to fall further to just 7% of...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Gulf Cash Boosts Balance Of Payments
...re $6.4bn in 2014-15, up from $4.1bn. But the current account deficit increased sharply to $12.2bn in 2014-15 from $2.7bn. A 14% rise in the trade deficit was driven by a 16% fall in exports, whilst imports rose by 1%. The value of oil exports in 2014-15 fell by 30% to $8.7bn, and that of oil im...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Aramco Makes Nasser Permanent Chief, Holds To Integration Strategy
...amco’s oil and gas reserves are at an all-time high. Eight new fields discovered in 2014 increased the kingdom’s total oil and condensate reserves by 900mn barrels to 261.1bn barrels and its gas reserves by 5.6 tcf to 294 tcf (MEES, 13 March 2014). In many ways Mr Nasser inherits a company whose ou...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Aramco Lines Up Fadhili Gas Plant Deals
...amco’s 2014 annual report says that “in its early phase, the Fadhili gas plant will process 2.5bn cfd from onshore and offshore fields and is on track to come on-stream by 2019.” The company adds that drilling of wells to supply the plant began in 2014, while the final project proposal was issued earlier th...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Morocco’s Sole Refiner Seeks $1bn To Restart
...hammedia refinery from 120,000 b/d to 200,000 b/d in 2012, but has since not processed more than 167,000 b/d on a monthly basis and hit a recent low of 58,000 b/d in January. Morocco already imports products, with consumption averaging 250,000 b/d in 2014 (MEES, 14 August). MOROCCO MONTHLY REFINERY RU...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Kuwait Awards First Utility-Scale Solar Plant
...ficiency of the plant’s steam turbine. Kuwait’s total installed generating capacity amounted to almost 15GW at the end of 2014, according to MEES estimates. The ministry and PTB currently have six power plants at varying stage of development, with a combined capacity of 6.8GW (MEES, 30 May 2014)....
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Saudi Oil Output To Top 10Mn B/D Through 2016
...ilst exports will be targeted above 7mn b/d,” Jadwa says. For 2015 Jadwa is forecasting an oil price of $52/B for Saudi crude, down 46% from 2014, and a slight increase to $57/B in 2016. Arab Light prices averaged $54/B for January-August 2015. The Jadwa report has revised up slightly its 20...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Benchmark Crude Prices ($/b)
...15 2014 2013 2012 WTI 46.90 44.99 46.73 42.90 51.15 58.02 48...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015