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Baghdad, Erbil Find Common Cause As Oil Price Falls
...port assumption in the 2014 draft budget. The KRG agreed to place 150,000 b/d of its crude at the disposal of the Iraqi oil marketing organization SOMO in return for the release of $500mn to pay salaries and cover other administrative costs. Iraq’s Finance Minister Hoshyar Zebari, a Kurd, said on 19...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
The Oil Price Slide: Just How Bad Is It For Iran?
...enarios, and have considered the consequences of choosing any of the oil prices between $70-80/B,” he said without going into any further detail. The government is hoping to settle on a figure by 22 November. This is in contrast with the budget for the current Iranian year (21 March 2014 – 20 March 20...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Algeria Surplus Down
...ALGERIA Algeria Surplus Down Algeria’s trade surplus in the first nine months of 2014 has fallen by 18.2% to $5.4bn, from $6.6bn in the corresponding period of 2013, latest official customs statistics show. The value of exports stood at $49.23bn, of which $47.18bn (96%) came from oil an...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
OPEC, IEA Envisage $175Bn-Plus Mideast Refining Outlay To 2040
...2040. Both envisage regional crude distillation capacity surging to 2040, driven by rising local demand and governments’ search for increased revenues from oil resources. OPEC’s recent 2014 World Oil Outlook (WOO) forecasts a 3.7mn b/d increase in Middle East refining capacity to 2040: 2....
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Subsidies Limit Gulf Progress On Energy Efficiency
...nsumption figures, both in per capita terms and per unit of GDP (‘energy intensity’). The International Energy Agency (IEA), in its 2014 World Energy Outlook (WEO) released last week, says Middle Eastern primary energy intensity fell by almost 1.5% a year during 2010-13. Though this fall is welcome, it is lo...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
OPEC Gears Up For Tough Ride As Cut Looks More Likely
...d bring other producers on board, if prices were allowed to fall further in the days leading up to the final meeting of 2014. “They (Saudis) know that to bring the others from OPEC to accept an accord, it’s easier to do if prices are going down,” says Mr Ait Laoussine, who is now a Geneva-based co...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
$30Bn Halliburton-Baker Hughes Merger To Have Major MENA Implications
...lliburton and Baker Hughes 1-3Q 2014 revenues were $42bn, a figure that would see the combined firm rival Schlumberger as the global market leader. A deal of this magnitude will almost certainly attract the attention of anti-trust regulators in the United States, and it will also likely face regulatory hu...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Kuwait Budget Surplus Down 25%
...KUWAIT Kuwait Budget Surplus Down 25% Kuwait’s budget surplus in the first half of 2014-15 (April-September 2014) fell to KD5.20bn ($18.3bn), a 25.5% real terms fall on a year earlier. Of course the situation is likely to deteriorate further in the second half of the year given the re...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Baiji Refinery: What It Means For Iraq
...el oil 30-35% -Package ‘Skid mounted’ refineries (10 scattered in different locations): • Naphtha 18-20% • Kerosene 18-20% • Gasoil 18-20% • Fuel oil 40-45% Prior to the ISIS takeover of Mosul and much of northern Iraq in June 2014, Iraqi refineries’ typical total products output wa...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Saudi Refining Ramp-Up Continues – Data Analysis
...abia Crude Output (Mn B/D) Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, September 2014 (‘000 B/D) Sep-14 vs Aug 14 vs Sep 13 Au...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 20-Nov 10-14 Nov 3-7 Nov Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014