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Middle East NOCs To The Rescue As Capex Cuts Hit Services Firms
...REGIONAL Middle East NOCs To The Rescue As Capex Cuts Hit Services Firms Oil services firms enjoyed record revenue in the second half of 2014 – a last hurrah after four years of $100/B-plus oil. But the collapse in prices late in the year has led to a revenue slump. Drilling activity in...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Saudi Petchems Earnings Fall Further As Oil Price Blight Continues
...clical” market. Petrochemicals companies listed on the Saudi stock exchange report combined earnings of SR4.37bn ($1.17bn) in the first quarter of 2015, down by 53.1% on the same period last year and 31.4% lower than for the fourth quarter of 2014. While dwindling earnings reflect continued damage fr...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Saudi Bourse To Open To Foreign Investors in June
...ades stocks in 168 Saudi companies, for which the value of shares traded in 2014 amounted to SR2.15 trillion ($573bn). CMA President Muhammad al-Jad’an said on 22 April that this opening to foreign investors will make the Saudi stock exchange part of the wider global market and noted that Saudi Ar...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
The Image Of GCC Oil Policy In The Western Media
...imi was named by the Financial Times as the energy personality for 2014 ‘for the fact that he has done nothing,’7 which itself is a policy decision. GEOPOLITICS AND OIL POLICY There is also an inclination by some of the western media to frame Saudi oil policy within a geopolitical framework. Un...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Suez Canal Revenue And Volumes 1q15 (‘000 Tons)
...14 2Q14 1Q14 2014 2013 Oil Total 8,453 4,616 7,803 20,872 -1,237 -5....
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Chinese Q1 2015 Crude Imports (‘000 B/D)
...14 2014 2013 MIDDLE EAST 3,313 3,502 3,767 3,486 +187 +6 +398 +13...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Us Petroleum Imports, Exports, Demand (‘000 B/D)
...1Q14 4Q14 3Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,396 7,242 7,...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 23-Apr 13-17 Apr 6-10 Apr Mar-15 Feb-15 Q1 2015 Q4 2014 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
PDO Accepts Oman Oil Ministry Challenge To Drive Push To 1mn b/d
...ny years about the 550,000 b/d [plateau], and now we’re ramping up,” PDO managing director Raoul Restucci said at the MOG’s annual media briefing in Muscat on 13 April. “We will increasingly present to you a 600,000 b/d plateau, not just for one year, but for…ten years.” Shell-led PDO, which in 2014...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Oman’s Offshore Hopes Take Hit With Total Exit
...ices were higher.” Oman is currently producing from just one of its seven offshore concessions – Block 8, which is operated by Middle East-focused Norwegian independent DNO. Output from Block 8 averaged 15,678 barrels of oil equivalent per day (boe/d) for 2014 DNO says: around 8,500 b/d oil, and 43...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatari LNG Faces Up To Uncertain Global Climate
...QATAR Qatari LNG Faces Up To Uncertain Global Climate With the global LNG market going through radical changes, Qatar is in no hurry to boost output. But it will have to adapt its approach to protect its revenue. Qatar’s LNG exports reached 76.37mn tons in 2014, down 2% from 20...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatar Gears Up For Growing US Condensate Exports, And Middle East Competition
...d of 2014 as the country favored cheaper coal and LNG for power generation. With the start of Barzan next year, Tasweeq will reach full export capacity in 2016. According to RasGas, Barzan will yield 22,000 b/d of field condensate and 6,000 b/d of plant condensate, as well as 34,000 b/d of et...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
MENA LNG Exporters Set To Lose Market Share
...ALGERIA/UAE/REGIONAL MENA LNG Exporters Set To Lose Market Share Algeria and Abu Dhabi were the only MENA LNG producers recording an increase in exports in 2014, according to the latest statistics from the International Group of LNG Importers (GIIGNL). Algeria helped boost supply fr...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Egypt’s Midor Refinery Signs Up UOP For $1.4bn, 60,000 b/d Expansion
...d 60,000 b/d of crude distillation capacity, it is particularly aimed at expanding output of middle distillates, especially Euro 5 specification diesel and jet fuel, to meet domestic market needs. In 2014 Egypt had to import a record 221,000 b/d of products (see graph). Last year Midor says it im...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Jadwa Lowers Saudi Oil Price Forecast, Predicts Further Fundraising
...SAUDI ARABIA Jadwa Lowers Saudi Oil Price Forecast, Predicts Further Fundraising Saudi investment bank Jadwa has lowered its forecast 2015 price for Saudi crude to $57/B, whilst raising its production forecast to 9.8mn b/d. Though 100,000 b/d higher than actual 2014 output, this is ac...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Petro Rabigh Plans $1.9bn Rights Issue
...abia’s existing commodity polymers industry (MEES, 17 October 2014). New products for Saudi Arabia from Rabigh 2 will include ethylene propylene diene monomer (EPDM) and thermoplastic olefin (TPO). The expansion will take Petro Rabigh’s output capacity to 5mn t/y of petrochemicals and 15mn t/y of re...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Oman’s Forecasts 85% Power Demand Rise To 2021; Gas Shortage A Worry
...ectricity sharing agreement with state oil firm PDO (for 60MW) and has installed a 400MW link to the GCC supply grid (MEES, 28 November 2014). The GCC link is part of OPWP’s plans for “creation of a spot market for electricity trade in 2018,” which will initially increase competitiveness among suppliers in...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Turkish Parliament Okays Second Nuclear Project
...pacity comprises more than 40% of Turkey’s long-term power plan (MEES, 5 December 2014)....
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
US OUTPUT RISE TO CONTINUE TO 2020-EIA
....6mn b/d in 2020, up from 8.7mn b/d for 2014 and some 1mn b/d higher than the 9.6 mn b/d (for 2019) prediction in the 2014 AEO. This 1mn b/d hike in the EIA’s forecast in peak US output is a clear reminder that whatever impact lower oil prices may now be having on US output – and the evidence for this is...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Libya: UN Optimism On Talks Belies War Preparations On The Ground
...not only fraught with practical difficulties and security risks, but also risks attracting UN sanctions. The UN Security Council stated in late 2014 that only oil sales through the Tripoli-based National Oil Corporation (NOC) would be recognized. Neither the Tripoli-based governor of the Central Ba...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015