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Iraq Continues IOC Investment Hunt, But Commitments Remain Out of Reach
...mestic demand is steadily marching upwards. Demand for gasoline and diesel alone is up 17% year-on-year through the first eight months of 2017, and the liberation of swathes of territory from Mosul will see this accelerate. The integrated Nasiriya project has also garnered interest from the Pe...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Algeria Plans New Hydrocarbons Law: Will Investors Bite?
...e licensing regime could help, or it could end up being yet another fig leaf for the institutional shortcomings of Algeria’s economic policy. ALGERIA’S FALLING CRUDE OUTPUT (MN B/D) *JAN-SEP 2017. SOURCE: MEES ESTIMATES. FAILING LICENSING REGIME Algeria’s current hy...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Asian LNG Buying Up 13% In 2017, Chinese Imports Soar 44%
...llective purchases by Japan, South Korea, China, India and Taiwan are up 13.1% or 14.7mn tons year-on-year to 126.7mn tons for January-August 2017 (see chart). This puts volumes on track to smash 2016’s record 175.1mn tons (MEES, 10 March), which in turn accounted for fully two-thirds of the 263.6mn tons of...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Korea LNGImports: Volumes Leap 20% For Jan-Sep 2017 With Australia The Key Beneficiary
...*INCLUDES RE-IMPORTS. SOURCE: KOREA CUSTOMS SERVICE, MEES CALCULATIONS. KOREA’S TOP FIVE LNG SUPPLIERS (MN TONS): QATAR STILL THE UNDISPUTED MARKET LEADER FOR JAN-SEP 2017 BUT AUSTRALIA CLOSING IN...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Newly Streamlined Adnoc Targets EOR Expertise For Offshore Fields
...er the first nine months of 2017 against last year. By contrast, Japan is taking more volumes from its number one supplier Saudi Arabia so far this year. India is the UAE’s second largest customer, and has increased its takings this year. Liftings of Emirati crude are up around 10% year-on-year an...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Aramco Targets 12GW Powergen Capacity By 2020, Seeks Supply License
...0 Expansion projects Oil, gas-fired 84 Added 2017: Turaif Wind turbine 3 Total Op...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Saudi ‘Demonstrates Leadership’ by Keeping Crude Exports Low
...FINING MOMENTUM Much of the crude export drop-off is a result of lowering crude production, but not all. Saudi Arabia’s strategy at the beginning of 2017 was to prioritize exporting crude over refining it, but this has now firmly switched. Refining runs are now being boosted at the ex...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Does Opec Have A Strategy For ‘Lower For Ever’?
...rrels for products – as of end-September, Mr Barkindo says. This is less than half of the 338mn-barrel figure at the start of 2017 when the output cut deal went into effect and down by a further 11mn barrels from the end-August figure (MEES, 13 October). However more than half of the ‘gains’ in re...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Iraq’s Kirkuk Deployment Reshapes KRG’s Oil Sector
...sesses the situation. KRG’S LOST KIRKUK OUTPUT NEARLY HALVES PRODUCTION ('000 B/D) *CURRENT OUTPUT. ^OPERATED BY IRAQ’S NORTH OIL COMPANY SINCE 16 OCTOBER 2017. SOURCE, MNR, COMPANY STATEMENTS, MEES. PREPAYMENT OBLIGATIONS ADD COMPLEXITY Unless the KRG opts to slash already low re...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
On Iran, Trump Opts for Uncertainty
...the first five months of the current fiscal year (from 21 March), which itself is insufficient (MEES, 20 October). EU CRUDE SALES PROVIDE ESSENTIAL RELIEF Iranian crude sales have risen around 15% in 2017 according to the government’s submissions to the Riyadh-based Jodi institute. Crude ex...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Aramco IPO: China To The Rescue?
...ght months of 2017. A direct deal with China would help it to lock in future crude sales, thereby serving to bolster Aramco’s future growth. Indeed, Aramco has already been working hard to lay the foundations for catering to China’s future crude demands. Energy Minister Khalid al-Falih, who also ch...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Iran’s Budget Deficit Set To Soar To $13.3bn This Year
...Iran is on track to record a steep increase in its budget deficit to $13.3bn in the fiscal year 2017-18 (from 21 March), up 39% from last year’s $9.6bn deficit (MEES, 21 July). This is based on government figures for the first five months of the year, when Iran already racked up a $5.6bn de...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
South Korea 3q16 Crude Imports ('000 B/D): Volumes From Iran Increase 44% Year-On-Year, Saudi Still Top Supplier
... KOREAN CRUDE IMPORTS AT RECORD LEVELS. UP 4% YEAR-ON-YEAR WITH IRAN THE BIG WINNER '000 B/D BY SUPPLYING COUNTRY % OF TOTAL IMPORTS *JAN-SEP 2017....
Volume: 60Issue: 42Published at Fri, 20 Oct 2017