- Sort by:
- Score
- Published ▼
-
Majors Capex Down Again To Lowest In Over A Decade, 2022 To Remain Restrained
...ropean firms’ 2021 spending was disciplined, their US counterparts’ outlay was positively anemic. ExxonMobil’s spending fell by 22% to just $16.6bn, falling below that of Shell to make 2021 the first year since 2017 that Exxon has not been the top spending major. But Exxon is also penciling in the la...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
LNG Trade: China Set To Overtake Japan As Top Importer
...rket share is down from the record 46.1% hit the previous year. Qatar remains a clear number two in the Chinese market, but a distant one, with 2020 supplies of 8.2mn tons less than a third of Aussie volumes. Having overtaken Japan in 2017, South Korea was Qatar’s top export market in 2018 and 20...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
US Surges Past Saudi As World’s Top Oil Exporter
...reducing demand: down 10% from its 2017 peak to average 550,000 b/d for 2019. Fuel oil dynamics on the other hand have been trending in the opposite direction, and the kingdom became a net importer of the fuel in 2019 for the first time since Jodi stats began in 2002. After recording net-ex...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Pressure Mounts For Deeper Cuts As IEA, Opec Warn Of Demand Concerns
...UEEZE The last few years have been tough for Opec, which has slashed production in a bid to rebalance the market. Production cuts entered effect in January 2017 and are looking increasingly likely to be extended until the end of 2020. Add in huge sanctions-related output falls in Venezuela and Iran – no...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Global LNG: Asian Demand In The Balance As Prices Fall To Record Low
...ES 2: JAPAN LNG IMPORTS - TOP 10 SUPPLIERS (MN T): AUSTRALIA & USA UP, EVERYONE ELSE DOWN AS OVERALL VOLUMES FALL TO LOWEST SINCE 2010 SOURCE: JAPAN CUSTOMS, MEES. 3: WORLD’S TOP LNG IMPORTER (MN T): CHINA OVERTOOK KOREA FOR #2 SPOT IN 2017. IT IS NOW CLOSING IN ON LONG UN...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Opec Production Falls Sharply, More Cuts On The Way?
...blicly debate cutting deeper still. Given that the Opec+ alliance has been enforcing cuts almost continuously since January 2017, dividing up deeper cuts will be no easy task. But as oil prices have slumped amid concerns over dramatic falls in China’s demand, deeper cuts look increasingly ne...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
India Crude Imports: Iraq, Saudi Dominant Despite Looming Long-Haul Challenge
...*India imported a record 4.51mn b/d of crude in 2018, up 4.5% on 2017. At 2.94mn b/d, volumes from the Middle East for 2018 were also a record, though the Gulf’s market share, at around 64% has remained static for the past three years (see Chart 1 and table, p20). *The second half of...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Taiwan Crude Imports Hit 8-Year High, Opec Share At Record Low
...re stagnant last year, those from key African Opec producer Angola collapsed from 70,100 b/d in 2017 when Angola was the fourth largest supplier, to just 10,700 b/d for 2018. *Among Gulf suppliers, Saudi Arabia remains Taiwan’s top supplier, with 270,000 b/d for 2018, 30% of total imports. Vo...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Australia Challenges Qatar For Taiwan LNG Top Spot: Just The Prelude?
....4% on 2017’s previous record. But Taiwan had a bumper December, with its 2018 total of 16.9mn tons, up slightly on 2017’s previous high. Coupled with monthly record imports from China and Korea, December saw the highest ever monthly LNG trade volumes (see chart, p24). In Taiwan, Qatar remained we...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Heavy Outages Weigh On Seemingly Well-Supplied Market
...rrels of last choice (MEES, 18 January). In reality’, demand for crude from Opec’s Middle East core is arguably on the rise due to the dynamics flagged up by the IEA. This dynamic has been a concern ever since the first Opec+ cut agreement came into force in January 2017 (MEES, 21 July 2017). But wi...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
OPEC Production Dives Amid Venezuela Instability
...elds (see p5). Nigerian output has only just recovered from the conflict-induced outages that crippled production in 2016 and led it to be exempted from the 2017-18 round of cuts. Meanwhile, Iraq is a perennial flouter of Opec commitments and needs every dollar it can get to rebuild the country. Th...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
LNG: A Record Year As Qatar & Oman Both Hike Sales
...*Global LNG trade surged to record levels in 2018. The top five global importers alone, all in Asia, collectively took 220.4mn tons, up 13% on 2017’s previous record. Global number two China alone took a whopping 41% more on the back of 46% 2017 gains, pulling further ahead of number three So...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
US Poised To Compete With Saudi Arabia As World’s Largest Oil Exporter
...Full year 2017 figures from Jodi highlight the extent of the increasing importance Saudi Arabia places on its products exports. As it cut back on its heavily-monitored crude exports as part of the Opec+ production agreement since January 2017, it simultaneously ramped up refining runs, re...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Russia, Saudi Arabia Commit To Enforcing Production Discipline
...rtainly be “extraordinary.” US crude and condensate production grew 467,000 b/d in 2017, but the latest production forecasts from the US government’s EIA are for a massive 1.27mn b/d increase this year. That’s still 120,000 b/d shy of the IEA’s expected global demand growth. But then the EIA also predicts an...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018 -
Opec Steadies Production In January
...yadh is set to grow in 2018. January’s collective output was 560,000 b/d above the grouping’s nominal 31.92mn b/d production target – based on the agreed upon 32.5mn b/d plus Equatorial Guinea which joined in 2017, less Indonesia, which suspended membership in November 2016. Opec has never hit the ta...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
Saudi-Russia Relations Mean Opec+ ‘Deal’ Will Continue. At What Price?
...al to tout ‘compliance’ of 129% for December. Whilst this is a flawed metric (MEES, 26 May 2017), it is one on which Opec increasingly chooses to focus. And the figure was likely even higher for January. With a further collapse in Venezuelan output far more likely than a rebound, this gives potential co...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Key Non-Opec Producers See Output Soar (Mn B/D)
...US CRUDE OUTPUT HIT 10.04MN B/D IN NOVEMBER, LEVEL WITH 1970’S ALL-TIME HIGH. OUTPUT IS FORECAST TO TOP 11MN B/D NEXT YEAR BRAZIL CRUDE OUTPUT ROSE 4% TO A NEW ANNUAL RECORD OF 2.62MN B/D FOR 2017. A STRING OF NEW DEEPWATER DEVELOPMENTS PROMISE NEW RECORDS FOR 2018 (MN...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Saudi Arabia Reaps Benefits Of Downstream Investment
...the ramp up of output from two new 400,000 b/d refineries during 2013-15. This brought Aramco’s total domestic refining capacity up to 2.90mn b/d. With last year’s record intake hit despite a run rate of just 75%, new refining records are very possible in 2017, although planned maintenance and up...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Opec: Can It Cut More And Cut Longer?
...rong, soaring supplies in countries not party to the deal, in particular the US and Brazil, have left Opec with an uphill task. Opec’s job has been helped by growing oil demand: whilst both the IEA and Opec revise up 2017 non-Opec supply in their latest monthly market reports, they revise up demand by...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Opec Cuts 860,000 B/D Output, More Work Required
...Opec cut crude production by 860,000 b/d in January, the largest monthly fall in nearly three years, but remains 570,000 b/d above its H1 2017 output target. Oil prices have dropped around $1/B since the start of February but remain comfortably above $50/B, suggesting that the markets are co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017