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Cash Crunch Suffocates Iran’s Oil Sector
...r day], so the petroleum ministry will get less than $3bn. How can we run Iran’s petroleum industry with this money?” he said. Iranian oil exports – crude and condensate – stood at just 1.1mn b/d in 2014 on average, down more than 55% from 2.53mn b/d in 2011, before the latest round of sanctions on...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Egypt Eyes Listing State Firms, Seeks Outside Investment
...centives for would-be investors. Also Egypt is amending and redrafting a number of economic laws to attract fresh investments and revive its economy battered by political turmoil since early 2011. The announcement this week that Egypt had signed memorandums of understanding (MOUs) with Kuwaiti companies fo...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Taiwan Crude Imports, 2014: Saudi, Kuwait Keep Top Spots But Opec Share Lowest In 10 Years
...13 2014 rank ‘000 b/d % 2013 2012 2011 2010 2009 2008 2007 20...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Baghdad, Erbil Face IOC Revolt As Cash-Crunch Stalls Payments
...e world had entered a new era of lower oil prices, predicting they would not recover to the $110/B level they averaged between 2011 and 2013 in the next few years. “It is very clear Iraq will not be able to deliver the quantum of production growth that is baked into people’s supply assumptions,” th...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Libya Peace Talks Begin But Economy Slides Towards Ruin
...recently as October, production was 900,000 b/d, and output before the 2011 uprising was 1.6mn b/d. Lower oil prices mean that Libya is also earning substantially less for its crude than over the course of last year. The average price of Opec’s basket of crude picked up slightly from $44/B in Ja...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt: Apache Hopes Major Finds Will Stem Falling Output
...e Apollonia formation (MEES, 19 December, 2014). APACHE EGYPT* OUTPUT 2009 2010 2011 2012 2013 2014 Gross Pr...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Total Takes The Long-Term View On Global Lng Markets
...me, some years ago. The aftermath of the Fukushima nuclear disaster in 2011 witnessed a shift between the Atlantic Basin and the Pacific region, especially due to an increase in Japanese imports (with a plateau at 88mn tons/year). A new wave of LNG was contracted and is under finalization in Papua Ne...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Now Or Never For Iran Oil As US Cranks Up The Rhetoric
...wn more than 55% from 2.53mn b/d in 2011, before the sanctions ramped up (MEES, 6 February). Iran and the six world powers of Britain, France, China, Russia, Germany and the US have since last February been locked in talks to turn an interim agreement reached in November 2013 into a comprehensive ac...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Mauritania Exploration: One Step Forward, Two Steps Back
...negal – a likely “commercial discovery” according to Cairn CEO Simon Thornton. PETRONAS TO QUIT? Mauritania currently only has one producing field, Chinguetti, where output has declined precipitously from 75,000 b/d at February 2006 start-up to 7,400 b/d for 2011, 5,800 b/d for 2012, and 5,400 b/d fo...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt’s Economy Begins To Turn The Corner
...EGYPT Egypt’s Economy Begins To Turn The Corner Egypt’s structural and monetary reforms are starting to bear fruit, following four years of political and economic slowdown since the ouster of the Husni Mubarak regime in 2011, the IMF says in its latest Article IV consultation with Eg...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Thailand 2014 Crude Imports: UAE And Saudi Arabia Remain Top Of The Pile But Volumes Fall (‘000 B/D)
...vs07 2014 rank kbd % kbd % 2013 rank 2012 rank 2011 20...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Iran Oil Shipments Up 15% In 2014 As China, India Overlook Limits
...terpreted as implying total exports of 1-1.1mn b/d – a level in line with MEES 994,000 b/d estimate of average intakes of Iranian oil for the six months leading up to the deal. Iran’s oil exports are down from an average of just over 2.5mn b/d in 2011, before the imposition of the latest US and EU-led sa...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
South Korean LNG Imports: Qatar Cements Top Position In 2014
...South Korean LNG Imports: Qatar Cements Top Position In 2014 2014 2014 vs 2013 2013 2012 2011 ‘00...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons)
...Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons) 2014 vs 2013 vs2010 2013 2012 2011...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Japanese Crude And Condensate Imports: Saudi Retains Top Spot As Russia Surges Up Rankings (‘000 B/D)
...nk 2012 rank 2011 rank 4Q14 4Q14vs4Q13 Dec-14 Nov-14 Oct-14 Total 34...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
UAE: Bonds Not Needed
...ending plan, first introduced in 2011 with a total outlay of Dh122bn ($33.2bn), was aimed at achieving sustained growth on a longer time horizon (MEES, 1 November 2013). Latest IMF projections expect UAE real GDP growth to remain firm at 4.5% in 2014, unchanged from 2013 (MEES, 7 February)....
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iran Plays Hardball On Turkey Gas Price
...rkey has since early 2012 been pushing for a revision in the price it pays for gas imports from Iran, going so far as to open an arbitration case against the Islamic Republic earlier this month. As well as the price issue, Ankara is citing unreliable gas supplies during winter 2011-12, and more re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Asian Buyers Influence Key Oil Benchmarks
...ft a glut of west African crude begging for a home, a situation which would have been exacerbated had fellow light sweet oil producer Libya been producing at normal levels. For South Korea, Forties became attractive after it concluded a Free Trade Agreement with the European Union in 2011, as the grade re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt: Motivation Behind Government Resignation Unclear
...pitalize on the popular notion that a strong leader is needed to restore order after the chaotic years following the 2011 revolution. Many Egyptians are weary of the uncertainty and economic stagnation that has been the hallmark of the aftermath of the Arab Spring. Keen to be seen as serving the county’s in...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Petrofac Bags $1.2Bn Oman Gas Deal
...12 BCM % 2011 2010 Industry 22.59 21.72 +0.87 4.0 20.17 19.64 Po...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014