Suez Canal Revenues Show Signs Of Recovery In 2017

...e October 2015 downing of a Russian charter jet over the Sinai peninsula (see chart). The fall in Suez Canal revenues has been more modest: 2016 revenues were down 3% on 2015 and 9% on 2014’s record takings (MEES, 20 January). Flows through the canal are seasonal, with Q3 typically the high po...

Qatar LNG: More Sales To Europe But Flexibility The Key

...tight supply, such as following Japan’s Fukushima nuclear disaster in 2011, they have been able to divert cargoes from Europe to higher-priced markets in Asia. But since 2014 less Qatari LNG has been redirected to Asia due to slow demand growth and increased supplies including from Papua New Gu...

Iran Hits The Med As Market Share Battle With Saudi Intensifies

...e it left. The country’s crude imports declined 25% between 2011 and 2014, though 2014 volumes of 1.08mn b/d rebounded somewhat to 1.25mn b/d last year on the back of improved refining margins. Run rates at Italy’s refineries rose 11% from 71.6mn tons in 2014 to 79.1mn tons last year. But as margins ha...

New Suez Canal Begins Testing Ahead Of 6 August Grand Opening

...ninsula which borders the canal has seen hundreds of people killed since President Sisi came to power. The $8.5bn project was locally funded through investment certificates launched by Egypt’s central bank (MEES, 19 September 2014). An average of 49 ships per day traversed the canal during the fi...

In Search Of Iran’s Market Share

...like Saudi Arabia, Iraq has a friendly, some would say subservient, relationship with Tehran. But such friendship has not always extended to the oil marketing sphere - particularly as Iraq ramps up exports. Iraq shipped a record 3.5mn b/d of crude in June, up 1mn b/d on 2014 volumes, and has plans to...

Jordan Enjoys Cheap LNG Prices, But For How Long?

...ices stayed at 2014 levels ($99/B for Brent) throughout the next decade, savings from LNG could exceed $400mn/year (1.3% of GDP), he says. Also, longer term, LNG’s relative competitiveness could increase, if the terms of the supply contract were adjusted to take account of lower oil prices once the in...

Suez Canal Traffic, 2Q 2014 (‘000t)

Will Fujairah Get With The LNG Bunkering Trend?

...G bunkering demand scales up: at this stage, it is only capable of ship-to-ship LNG transfers. On The Rails? LNG is also looking like an increasingly viable option for long-haul road and rail transport. The US Energy Information Agency (EIA) predicts in its 2014 Annual Energy Outlook that LN...

Bahrain LNG Import Plans

...commendations, by the end of 2013 and to award the contract in early 2014.   This comes after reports earlier this year that Nogaholding, NOGA’s investment arm, was set to award a license to build a $500mn-plus 500mn cfd LNG import terminal. NOGA was negotiating a Build-Own-Operate LNG import terminal an...

Oman Oil Marketing Plans Duqm Bunkering.

...ncluded sometime in 2014.   Duqm, a special economic zone receiving heavy oil and gas sector investment, is located roughly halfway between Salalah and Musqat on the Arabian Sea coast. OOMCO has been serving bunker fuel needs at Oman’s Sohar Industrial Port since 2010 in partnership with Germany’s Ma...

Iran-Pak Pipeline Inches Forward But Completion Unlikely Before 2017

...s demand at over 12bn cfd.   “It is not an issue of whether they need it or not – they do need the gas, but 2014 is not realistic,” Praveen Kumar, head of Facts Global Energy’s South Asia Oil and Gas team says tells MEES, highlighting funding – or a lack thereof – as the key factor delaying th...