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Suez Canal: Saudi Diesel Boosts Northbound Volumes
...oduce transport fuels to Euro specifications. The 400,000 b/d Satorp refinery in Jubail was brought online in late 2013 and reached full capacity in mid-2014, while the 400,000 b/d Yasref refinery in Yanbu’ was started up in 2014 and is scheduled to reach full capacity this month. Cairo hopes to do...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Qatar Power Demand Tops 7GW; QEWC Advances 2.5GW Plant
...hind this summer’s consumption peak. Kahramaa says the new peak is almost 5% higher than the 2014 high of 6.74GW, and was achieved without an increase in electricity network faults. The state utility says that Qatar’s peak electricity load has increased by 8.5% a year during 2010-14. Qatar can cu...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...mber of active rigs offshore Brazil has fallen from 40 to 21 over the last two years (see p10). Though the IEA projects overall non-Opec output of 58.3mn b/d for 2015, up 1.3mn b/d on 2014, output will finally begin to fall this quarter with the predicted 2016 figure of 57.8mn b/d down 500,000 b/d on 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
No End In Sight To Record Saudi Drilling
...eting, Mr Naimi told energy ministers that the Opec kingpin would be pressing on with its investments in all phases of the oil and gas sector, despite the plunge in oil prices (MEES, 9 October). Since steering Opec toward its November 2014 decision to pursue market share over oil prices, Mr Naimi has al...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq Progresses With Giant Gas-Fired Plant, But Where’s The Fuel?
...r the current shortfall of available gas, Iraq is instead burning liquids to minimize power blackouts, including direct burn crude which averaged 223,000 b/d in July and August, a substantial hike over the average 136,000 b/d burned in 2014. Iraqi Minister of Electricity Qasim al-Fahwadi told pa...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Keystone Keeps Wolf From The Door With New KRG Payment
...rway’s DNO and its partners in the 150,000 b/d Tawke field, and London-listed Genel and its partners at 130,000 b/d Taq Taq (MEES, 11 September). Previous similar payments were in December 2014. GKP, under pressure from the KRG, from mid-September agreed to export all of its 40,000 b/d production via th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Egypt: Desperately Seeking Finance
...ere has been a turnaround in economic performance with policies to reign in the budget deficit and the inflow of Gulf cash since mid-2013. But though GDP growth rose to 4.2% for the 2014-15 fiscal year which ended on 30 June, with the IMF projecting 4.3% for the current year, there are serious ch...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraqi Cash Shortage Deepens As Bond Issue Pulled
...port volumes of 3.05mn b/d for September, Iraq pocketed a mere $3.69bn for the month’s crude exports, less than half monthly takings for the first half of 2014 (see graph). Iraq received just $40.33/B for its September exports, the lowest figure since February 2009. Oil revenue accounts to around 83...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Suez Canal Traffic (‘000t)
...Jan-Aug13 SOUTH TO NORTH Aug-15 Jul-15 Jun-15 Jan-Aug15 '000t % '000t % 2014 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
South Korean Crude Oil & Condensate Imports, ‘000 B/D
...South Korean Crude Oil & Condensate Imports, ‘000 B/D 3Q15 vs2Q15 vs3Q14 2Q15 1Q15 4Q14 3Q14 2014...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 46.38 45.01 48.33 45.44 42.90 46.62 58...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq’s Cash-Strapped Kurds Gear Up For Kirkuk Export Boost
...the 2014 federal budget, which has yet to be presented to parliament and is being delayed further by the ongoing dispute and is likely to see a wider deficit than forecast when it was first drafted. ...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale A Threat To Mideast Condensate, Despite Oil Price Slide
...duce the firm’s exposure to political instability. Japan’s Gulf^ Condensate Imports (‘000 B/D) 2011 2012 2013 *2014 Qatar 15...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale Vulnerability To Falling Oil Prices
...0 B/D) 2012 2014 2016 2018 2020 Eagle Ford 300 875 1048 1058 1201 Fi...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
UAE Sees Balanced 2015 Budget Despite Oil Price Fall
...UAE The UAE on 12 October approved its 2015 federal budget. The budget is balanced, with both spending and revenue projected to increase by 6.3% to Dh49.1bn ($13.4bn at the fixed $1=Dh3.6725 exchange rate) from Dh46.2bn in 2014. With inflation projected at 2.5% in 2015 by the IMF, the net in...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Saudi Products Imports Slump
...nture Satorp refinery ramped up towards full capacity – which it is expected to reach by year end. Gasoline imports fell from 23,000 b/d in January-August 2013 to zero for the first eight months of 2014; gasoil volumes fell to a mere 4,000 b/d. The 400,000 b/d Aramco/Sinopec Yasref refinery at Yanbu on...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Saudi Speciality Petchems Transformation Focuses On Aromatics
...omatics/Propylene: 2,200 Paraxylene Satorp, Jubail 700 2014...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Iran Starts Work On 1GW Zanjan Plant
...xt five years. Zanjan Electricity Company head Ali Chehlamirani says the area’s demand peaked at 580MW in summer 2014, of which 73% was consumed in the industrial and agricultural sectors. New plants in Zanjan province are part of a Ministry of Energy plan to add 30GW of generating capacity na...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Saudi Arabia Takes On Oil Market Bears
...om the previous month’s forecast, based on expectations of slower global economic growth for both this and next year. This would represent growth of only 700,000 b/d for 2014, rising to 1.1mn b/d in 2015. Non-OPEC supply growth next year is estimated at 1.2mn b/d. This in turn has cut the call or de...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Abu Dhabi Boosts Offshore Output As Umm Lulu Comes Online
...January 2015. ADMA-OPCO crude production (’000 B/D) 2014-2020 ADMA-OPCO Additions (‘000 B/D) State-owned ADNOC, which now has 100% ownership of ADCO, is more manager than decider. The final decision lies with the SPC, which is headed by UAE President Shaikh Khalifa bin Za...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014