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Qatar & Oman Cash In As Asian LNG Buyers See Record Import Bill Even As Volumes Slump
...gures set in 2013 and 2014 when both Korea and Japan took far higher volumes than for 1H 2022 (see chart 2). *One interesting feature of Qatar’s exports to Asia is the sharply different average prices paid for Qatari volumes – both a feature of whether key long-term contracts were struck in a bu...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Kuwait’s Emir Appoints Eldest Son As PM
...nistry of Interior. Prior to his March ministerial appointment, he had served as the Governor of Hawalli province from 2014. He had risen within the Ministry of Interior to become Deputy Interior Minister for Education and Training while holding a Lieutenant General rank. The PM-designate had pursued hi...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
KRG Revenues Up But Dire Finances & Political Disputes With Baghdad Linger
...able to pay state employees on time. In communication with Baghdad the KRG says that “from 2014 to 2019, the Federal Government has not provided [the KRG] its financial entitlements, forcing the KRG to find new sources of financing [prepaid debt] and areas of savings to provide for its expenses, in...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Saudi Oil Export Revenues Soar To $31bn For May
...Saudi Arabia is on track for record oil export revenues this year. May’s $31bn was the highest monthly figure since at least 2014. Diesel flows to Europe are on the up. Saudi oil export revenues climbed to a new post-2014 peak of $31bn in May as the energy giant capitalized on high oil pr...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
China 1h Crude Imports: Bumper Mideast Share Under Threat From Russia
...years – beating 2014’s 52.2% (see chart 2). In reality, this now looks unlikely: the recent increase in Russian volumes saw the Mideast market share slump to 46% for June. This came as China’s overall import volumes fell to a four-year low of 8.76mn b/d for June. Perhaps not surprisingly Saudi Ar...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Libya’s Oil Sector In Turmoil After NOC Head Ousted
...pacity since May 2014, has refused to acknowledge the order which was made public on 13 July. He says he is still the official head of the firm and that all NOC subsidiaries still answer to him. The episode is just the latest in an increasingly complex and fluid power struggle be...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Algeria’s Finances: Oil Revenue Windfall To The Rescue
...After years of low oil prices and dwindling state coffers Algeria is set for its best year since 2014 in terms of oil export revenues. Algeria’s state finances are on the up on the back of surging oil prices which have already resulted in a 75% increase in gross oil export revenues in...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Iraq Posts Record Revenues Amid Fast-Changing Market
...spite oil prices this year still not quite setting new records underlines the extent to which Iraq managed to increase output capacity since the previous high-price cycle ended in 2014. Iraq crude oil production averaged 3.33mn b/d in 2014, and even with Opec+ cuts remaining in force up until th...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Shell Completes The Set For Qatar’s NFE Expansion
....2%. With prices soaring, Qatari export revenues are booming and the latest government figures show a $500mn jump in May to $12.44bn – the highest figure since March 2014’s $12.46bn (see chart). Revenues are fast closing in on that figure and on January 2014’s $12.58bn, which is the highest monthly fi...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Opec Revenues Set For 2022 Windfall After 2021 Turnaround
...cession could take the edge off recent highs is the focus. Still, even if oil prices pull back from their recent $100-$120/B range, the group is on course for its highest revenues since 2014 when it took $901bn. If the January to May average price of each Opec member’s key export gr...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Yemen Upstream Hit By OMV Exit
...e post-2011 security situation forced delays, production hit a record 14,500 b/d in 2014 (6,400 b/d net to OMV). With Yemen’s conflict continuing to deter foreign firms, few emulated OMV and returned to the country. Indonesia’s Medco Energi returned to its Block 9 in the less-volatile Ma...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022