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Algeria Ratifies 2016 Budget Despite Opposition
...s export earnings are set to bring in just $35bn this year, down from $60bn for 2014 and $70bn in 2012 (MEES, 27 November). Finance Minister ‘Abd al-Rahman Benkhalfa says the fuel price increase is inevitable as Algiers needs to take an axe to subsidies – which cover everything from energy and ga...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
US Oil Output, Imports, Exports, Demand: Q3 Oct & Nov 2015 (‘000 B/D)
...15 1Q15 4Q14 2014 2013 2012 2011 CRUDE OIL IMPORTS 7,355 7,188 7,222 -41...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Crude Official Selling Prices ($/B)
...15 1Q15 4Q14 2014 2013 2012 2011 CRUDE OIL IMPORTS 7,355 7,188 7,222 -41...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Benchmark Crude Prices ($/B)
... 3-Dec 23-27 Nov 16-20 Nov 15-Nov 15-Oct Q3 2015 Q2 2015 YTD 2015 2014...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Saudi Stance Wins Out At Opec Meeting
...ying to secretly broker an output cut. In truth any ‘deal’ that would rest on cuts from not only Iran but also other, non-Opec, countries like Russia was never going to fly. Unlike in November 2014, no non-Opec countries were even present, although Saudi Oil Minister Ali Naimi says he is “always ready to...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Baghdad, KRG: Peace In Our Time?
...eak-even oil price of $105/B to balance its 2014 budget. The draft 2015 budget, expected to show a deficit, is being revised to include a lower price assumption nearer $70/B, Iraqi politicians say. Iraq’s federal government and the Kurdistan Regional Government (KRG) ended years of discord over re...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Iran’s Upstream Opening Stalls On Nuclear Extension
...r our colleagues at the Foreign Ministry to deal with,” he added, referring to Tehran’s nuclear negotiating team, led by Foreign Minister Mohammad Javad Zarif, and his deputy Abbas Araqchi. $100bn Pause Iran, the ministry said in early 2014, is looking to attract upwards of $100bn in oil se...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Turkey Advances First Nuclear Plant, Eyes New 4.4GW Project
...nd 2014 Kavakli 52 Wind 2014 Bakras* 23 Wind 2014 Samsun 600 Ga...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Lower Oil Prices: Making The World A Better Place?
...low 2014 levels. At $70/B they believe, all other producers can do is stand still if natural decline is factored in. For Russia, the pain is more acute since lower oil prices are proving more damaging than international sanctions over the Ukraine crisis, sending the ruble tumbling against the US do...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Egypt Secures Funding For Further IOC Payments
...vember). Egypt first reduced a debt pile that had been growing steadily since the 2011 revolution with a $1.5bn tranche last December, and repaid a further $1.5bn in October. Throughout 2014, the government has also been able to promptly pay producers for current output, according to Petroleum Minister Sh...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Iran Eyes Balanced Budget Despite Gloomy Outlook
...tal of $7bn of its frozen assets: $4.2bn in phase one, between November 2013 and July 2014; and a further $2.8bn in phase two, between July 2014 and November 2014. This arrangement will continue under the latest extension of the deal through July 2015 – during which Iran will receive $700mn/month in fr...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Dollar Strength Lessens Impact Of Oil Price Slide
...11 and July 2014, a period flagged up by the World Bank and other observers as one of “remarkable stability.” (With an uncanny degree of prescience, BP chief economist Christof Rühl, speaking at the mid-June market peak, said that with the US delivering “one of the biggest annual oil production in...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 4-Dec 24-28 Nov 17-21 Nov Nov-14 Oct-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Egypt Promises $1.5Bn Receivables Payout
...June 2014), the ministry said in a statement. The minister made waves last week when he spoke in favor of higher prices for gas produced in Egypt. The current gas price of a mere $2.65/mn BTU is the biggest stumbling block to further exploration and production by IOCs, and effectively renders un...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Iraq Pencils In 3.4Mn B/D 2014 Exports But Lowers Output Targets
...IRAQ Iraq Pencils In 3.4Mn B/D 2014 Exports But Lowers Output Targets Iraq is aiming for average oil exports of 3.4mn b/d in 2014, including 400,000 b/d from the KRG. This would translate into a rise in Iraqi production to 3.7-3.75mn b/d assuming no further details to fi...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Algeria Drums Up Interest Ahead Of Bid Round
...ALGERIA Algeria Drums Up Interest Ahead Of Bid Round Algeria is preparing a bid round for early 2014. A global roadshow concluded last month shows Algiers is intent on improving the appeal of its hydrocarbon sector to international oil companies. State oil co...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
UAE Says 3.5Mn B/D Capacity Target On Schedule
...NOC is running this process and we have confidence in that,” he said though he declined to say how much of a delay he expected beyond the 10 January expiry of the 70-year concession. “The concession ends in 2014 and obviously there will be a delay. The delay will not impact us at all. The company wi...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Saudi Petchems Firms See Technology As Key To Specialized Markets
...chloride SABIC 2014 140,000 t/y ABS SABIC/Mitsubishi 2014 250,000 t/y MMA, 40,000 t/y PMMA Sipchem 2014 63,000 t/y polybutylene te...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
SEC Awards Revised Rabigh-2 IPP Project
...bruary). SEC has appointed Germany’s Fichtner as consultant for the Dhuba-1 ISCC, which it expected to start up in 2017. Dhuba-2 is still envisaged as an HFO-fired plant, with start-up planned for 2018. ACWA and Samsung are already building SEC’s 3.93GW Qurayyah IPP, which is due online in 2014. Qu...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Gathering Storm For OPEC As Iran Lays Down The Gauntlet
...set to decline by some 300,000 b/d in 2014 over 2013, according to IEA projections. “I will not give up on Iran’s right to produce 4mn b/d under any circumstances,” Mr Zanganeh, back in Vienna as minister for the first time since he last held the post eight years ago, told reporters ahead of th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013