Iran Mulls Offering South Pars To IOCs As Opening Delayed

...l firms is intricately tied to the fate of ongoing talks between Iran and the P5+1 group of world powers over its nuclear program. Nuclear talks were due to have ended on 22 July, hence the roadshow scheduled for the second half (and originally the first half) of 2014. But, with a deal not re...

The US Shale Gas Revolution: A Threat To Gulf LPG Exporters

...r 2014 and 2015 will see US LPG exports to Japan increase. Korean firms are negotiating contracts to import LPG as well. Threat To Pricing The basis of US LPG prices differs entirely with that of Gulf LPG exports, a dynamic that will put pressure on margins of Gulf sales into Asia. Saudi Ar...

Israel Refineries Hit Throughput Record, Diesel Exports Boom

...ISRAEL Israel’s refinery output hit a record 291,000 b/d for the first half of 2014, up 16,000 b/d on a year earlier as the country’s second largest plant in Ashdod completed a significant upgrade. Exports, especially of diesel, are rising even faster. Israel  has been rapidly sh...

GTL Back On The Radar For Mideast Downstream Planners

...oposed         Iran Sarv/IDRO GTL Pilot, Saveh †1 2014 Iran RIPI Qeshm GTL, Qeshm Island 3 20...

GCC ‘Spat’ Takes On New Dimension

...ar from September 2014. Egypt will reimburse the UAE over four years at an interest rate of 2-3% with a year-long grace period, according to the daily. This will follow the expiration of Saudi oil product aid in August. Saudi Arabia, Kuwait and the UAE rushed to provide $12bn in grants and loans to...

Saudi Arabia Advances Stock Market Opening

...rket participants – can criticize the regulatory framework and suggest modifications. This framework is therefore likely to be amended in light of the feedback the CMA receives in the three-month period ending on 20 November 2014. The CMA regulations published on its website on 21 August stipulate th...

Rohani One Year On: A Glass Half Full Or Half Empty?

...IRAN By-Jahangir Amuzegar* 1 August 2014 marks the first anniversary of Hojatol-Islam Hassan Rohani’s accession to the Islamic Republic’s presidency. A mid-level Shiite cleric having an advanced degree in theology from a Scottish university, Mr Rohani defeated his five non-turbaned ri...

Chinese Crude Imports, January-July 2014 (‘000 B/D)

Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, 1h 2014 (‘000 B/D)

Benchmark Crude Prices ($/B)

...OIL PRICES     28-Aug 18 - 22 Aug 11 - 15 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 20...

Algeria Delays Bid Round Once Again

...secure foreign investment in its upstream. Algeria: Blocks On Offer In 2014 Bid Round...

South Sudan Oil Sector Takes Hit With Exxon Exit

...rm-in agreement as of April 2014,” Total said in a 19 August statement e-mailed to MEES, without going into further detail. ExxonMobil declined to comment, though the ongoing conflict – and the lack of clear prospects for a solution – could go a long way towards explaining the company’s decision. Re...

DRPIC Tenders Duqm Refinery Site Prep

...rk tender is expected to be followed by prequalification for an engineering, procurement and construction (EPC) contract for the refinery in third quarter 2014. DRPIC appointed Shaw Group as project management consultant for the 230,000 b/d refinery in August 2012. The US contractor’s energy and ch...

Dragon Oil’s 1H14 Output Falters As Ambitions Soar

...fshore Cheleken contract in Turkmenistan, in which it holds a 100% stake, stood at 73,440 b/d for the six months to 30 June 2014, slightly down on the corresponding period last year (see table). June production rose to 76,100 b/d, but these numbers may be slightly misleading: in June 2013 for ex...

Oman Oil Names Former Oxy Executive As New CEO

...ins OOC with more than two decades of experience in the oil and gas sector, having previously worked for US independent Occidental (Oxy) and Oman’s Ministry of Oil and Gas. He served as President and General Manager of Oxy Oman between 2009 and 2014, before being promoted to Senior Vice President for Bu...

Iran Stimulus Plan Approved As Debt Piles Up

...an (CBI) showed that GDP contracted by 1.9% in the Iranian year 1392 (March 2013-March 2014). In the preceding year, the growth rate was negative at 6.8%.    The stimulus plan identifies several obstacles to economic revival, namely a shortage of financial resources, low domestic demand, falling in...

Kuwait Unveils New Five-Year Development Plan

...e new plan. As of January 2014, the Kuwait government had spent only 57% of the allocated expenditure in the current plan. Kuwait’s development process has suffered in the past few years from the absence of decision making, given the ongoing political bickering between the government and parliament. Fr...

Benchmark Crude Prices ($/B)

...OIL PRICES   21-Aug 11 - 15 Aug 4 - 8 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 2013 20...

Egyptian Oil & Gas Output, May 2014: Oil Steady; Gas At Lowest Level Since 2006 (4.8 Bn Cfd)

Kurdistan Grapples With ISIS Threat; Oil Output Steady For Now

...hedule. At Tawke, two wells have come onstream at a combined rate of 37,000 b/d, with surface processing capacity set to increase by 100,000 b/d to around 200,000 b/d by year end. All things being equal, the KRG could conceivably attain its 400,000 b/d target by end 2014 if the pipeline issues are re...