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Egypt Closing In On Debt Repayment And New Bid Round, Minister Says
...used rolling blackouts over the summer and brought exports to a virtual standstill, leaving two LNG export facilities idled. Output slumped to 4.8bn cfd for the first seven months of 2014 (and a 10-year low of 4.55bn cfd for July – the most recent available data), over 700mn cfd down on estimated de...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Stocks Special: Saudi Strong, Chinese A Bit Less Reserved
....7mn barrels (620,000 b/d) in September with “extra cargoes [imported] from Saudi Arabia, Kuwait, Iraq and Oman,” the IEA says in its November Oil Market Report. According to IEA calculations, China added 105mn barrels to its stocks during the first nine months of 2014. This comes on top of an 89mn ba...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Iran Oil Exports To Rise In 2015 Despite Nuclear ‘No-Deal’
...wn, averaging less than 1.3mn b/d for the first ten months of 2014 (including condensate), versus 2.53mn b/d in 2011 (see graphs). Condensate Boost Speaking in Vienna this week, Iran’s Oil Minister Bijan Zanganeh said that despite the sanctions, Iran is still targeting an increase in exports ov...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Oman Set To Cut Spending For 2015 As Revenues Slide
...nsideration but there are no plans for salary cuts, he adds. The minister reiterated plans, announced last month, to cut its energy subsidies for 2015, with the currently “ineffective” system to be better targeted on the needy sections of society. Oman’s 2014 budget projects spending on energy su...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Qatar Looks Resilient To Lower Oil Prices
...tting money aside in the years of plenty. While prices for most of its key LNG exports are oil-linked, costly Australian projects will be harder hit. Qatar posted a surplus of some 31% of GDP in 2013. This will only shrink modestly in 2014: the country benefitted from high oil and LNG prices for mu...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Egypt: IMF Praise
...turn in confidence, are starting to produce a turnaround in economic activity and investment, Mr Jarvis observes, with growth projected at 3.8% in fiscal 2014-15. In a seeming reference to $8.4bn ‘Second Suez Canal’ plans, the IMF cautions “megaprojects offer prospects for jobs and growth but sh...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Jordan Moves Toward Austerity In 2015
...0/B. Main Aspects Of 2015 Budget Outlining the main features of the new budget, Mr Tuqan said that the deficit (after grants) is projected to shrink by 24.5% to JD688mn ($970mn), or 2.5% of GDP, from a revised figure of JD911mn ($1,285mn) in 2014. Total revenue is estimated at JD7,408mn ($10...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 27-Nov 17-21 Nov 10-14 Nov Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014