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Is $90/B The New $100/B For Saudi Arabia?
...finery processing gains, grew by more than 4mn b/d from January 2011 to July 2014, of which 3mn b/d was crude oil production growth, the EIA says. During the same period, unplanned supply disruptions grew by 2.8mn b/d, it adds. Supply disruptions averaged 3.2mn b/d in the first seven months of 2014 and pe...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Egypt Secures Saudi Power Loans
...rning additional diesel and fuel oil in power plants to keep pace with rising peak electricity demand. The loans are the latest GCC move to stabilize in a country severely impacted by the Arab Spring of 2011. Saudi Arabia, Kuwait and the UAE provided $12bn of aid, including oil products, after the ou...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Jordan Looks To Slash Deficit In 2015 Budget
...rms. Jordan is currently hosting over 600,000 Syrian refugees, who fled their country after the 2011 uprising which has now morphed into a bloody war. This has severely burdened the kingdom’s economy, leading it to turn to the international community to cope with the extra cost. Traditionally Jo...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Chinese Crude Imports January-September 2014 (‘000 B/D)
...total vs2013 vs2012 2013 2012 2011 2010 MIDDLE EAST 3,577 3,135 3,...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
US Imports: Gulf Looks To Keep Share Of Shrinking Pie
...g-14 Jul-14 2Q14 1Q14 Jan-Aug ‘14 vs2013 vs2012 2013 2012 2011 2010 20...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 77.91 81.26 81.76 84.33 93.13 97.25 103.00 98...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Egypt Touts Block Awards But IOC Debts Mount
...e February 2011 revolution (and level with the second half of 2010), however August gas output of 5.43mn cfd (56.1bcm/y) remains 9% down on pre-revolution levels (61.6bcm for 2010). The gas shortage has been exacerbated by domestic consumption, which has continued to rise rapidly despite ec...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Libya: No End In Sight To Instability
...ternational oil company active in the east. Failure to achieve real or lasting increases in Libyan oil output is a common theme since July. Prior to this, Libya had surprised the oil markets by reviving output at a remarkable pace after the 2011 revolution brought production to a standstill. For much of 20...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iran Targets Oman As Future Gas Export Hub
...t negotiated the gas price yet,” Mr Zanganeh said. “We have agreed to transfer gas to Oman first, and then look for a market in the region from there.” Iran and Oman came agonizingly close to reaching a gas supply agreement in 2011, but talks broke down after the Iranian side had a sudden change of...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Qatargas Inks $7bn UK LNG Deal With Centrica
...ior 3-year agreement signed in 2011. The previous deal, worth less than half the latest, was for 2.4mn t/y. Like several of Qatargas’ recent deals, the contract does not guarantee 3mn t/y of supply; rather, Qatargas is free to send volumes to other buyers. Qatargas 4, a joint venture between Qa...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...oduction at an average of 500,000 b/d in October, up approximately 150,000 b/d on September. This increase came despite renewed protests at the country’s main oil fields and terminals. Facing the worst disruption to its oil industry since the 2011 civil war, Libya appeared to have turned a corner in la...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Analysis: Oxy Mideast Pullback Spurred By Risk-Averse US Investors
...ansition of power from father to son and there is no threat to the country’s leadership. Minor protests in Oman in 2011 posed scant threat to the country’s leadership, as well. In the UAE, where the only perceptible repercussion of the “Arab Spring” has been an outpouring of foreign aid to ailing regional al...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iran: Official Inflation 40%, Real Rate May Be Double
...re open about government finances, there could be more transparency with regard to the fund’s reserves. The NDF was established in 2011 to replace the Oil Stabilization Fund (OSF), a sovereign wealth fund which accumulated surplus oil and gas revenue....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Towards An Efficient LNG Market In The Asia-Pacific
...ntribute to that dialogue by discussing the Asian LNG market and its prospects for increased integration, efficiency and growth. The International Energy Agency (IEA) has spoken of a golden age of gas (MEES, 13 June 2011), and for good reason. We see a growing and positive contribution of gas to global en...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 94.2 96.93 97.87 100.57 106.27 105.73 94.17 94.18 95...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
November Political Changes Unlikely To Impact Energy Macro-Trends
...ian purchases as a proportion of total Gulf crude exports will rise to some 12.7mn b/d out of 15.9mn b/d, or 79.9%, up from around 73% in 2011. Saudi reliance on Asia-Pacific is slightly less marked (see table) but the same trend still holds – in 2002 Asia-Pacific took less than 50% of Saudi exports. It...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
Iraqi Oil Sector Set For Major Change
...ocks last year (MEES, 21 November 2011). One source notes: “You know a Rosneft entry as ‘nominal’ operator could give Baghdad a fig leaf that it got rid of Exxon for the KRG investment, and you know they could have worked out an arrangement with Rosneft whereby they stayed in effective control.” Ho...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
Libya’s AGOCO Looks To New Ghadames Production Heartland
...velopment in October 2010, although awards were overtaken by 2011’s fighting. NC-100 contains more than a dozen oilfields discovered by Bulgarian firm Geokom in the late 1980s and early 1990s. However their relatively small size and lack of nearby infrastructure coupled with tough contractual te...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
Algeria’s South West Gas Project Boosted By Pipeline Award
...t the biggest share would likely come from Total’s Ahnet tight gas project, where the company plans 4 bcm/y plateau production. Total submitted a development plan in July 2011, which envisaged 2015 start-up. However discussions with the Algerian authorities remain ongoing, with Total thought to be an...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
IEA Sees Ethylene Market Driven By Ethane Cracker Surge
...st and the US, according to the International Energy Agency (IEA). In the 12 October Medium-Term Oil Market Report the agency predicted that global ethylene capacity will rise to 183.4mn tons/year in 2017 from 147.6mn t/y in 2011, equivalent to yearly growth of 3.7%. In 2012, oil eq...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012