- Sort by:
- Score
- Published ▼
-
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...rrels (130,900 b/d) in April, the first fall since January. This boosted the total amount of crude Saudi Arabia supplied to the market to 10.077mn b/d, the first time it has exceeded 10mn b/d since December. 1: SAUDI ARABIA MONTHLY CRUDE BURN (‘000 B/D): 2017 CONSISTENTLY LOWER THAN 2016 SO...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...sts for Tunisia continue to mount. From being a net oil exporter as recently as 2010, domestic output fell to a mere 46% of demand for the first four months of 2017 (see table & chart 1). Were it not for the fall in oil prices the situation would be more dire still – indeed for gas, although output is al...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Egypt Ends Forex Controls
...bsidies and streamlining public finances in order to cut the budget deficit. He also expects inflation to fall to just 13% during 2018 from the latest figure of 31%. Egypt’s parliament is currently debating the 2017-18 draft budget which envisages total spending of E£1,206bn ($67bn) and a deficit of E£37...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Doha’s Diplomatic Dispute – The Financial Impact
...NKS Qatari banks’ foreign liabilities have risen over the last few years as they became increasingly dependent on foreign funding during a period of strong economic growth. Their foreign liabilities increased to QR451bn ($124 billion) in March 2017 from QR310bn at the end of 2015. According to a re...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
South Korea Credit Line Offers Relief For Iran’s Ailing Economy
...rliamentarian who represents the Majlis on the NDFI governing board. The Washington-based SWF Institute previously estimated reserves at $62bn. According to the 2017-18 budget bill, the government is required by law to allocate 30% from its oil and gas export revenue to the wealth fund, up from 20% in the bu...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
US Shale Output Soars But Permian Productivity Falling
...ODUCTIVITY STEADY DESPITE DOUBLING OF RIG COUNT OVER LAST 5 MONTHS 3: BAKKEN: RIG COUNT REMAiNS AT JUST 20% OF 2012 PEAK *FOR NEW WELLS. SOURCE: EIA DPR, JUN 2017. US SHALE OUTPUT FORECASTS (MN B/D, BY DATE OF FORECAST) 4: OVERALL US SHALE OUTPUT* RE...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Aramco Seeks Talks On Indian Refinery, Part Of Asian Downstream Push
...649 1,480 *MOTIVA SPLIT IN Q2 2017 GAVE SHELL 100% OF CONVENT & NORCO REFINERIES, ARAMCO 100% OF PORT ARTHUR. ^ARAMCO OWNS 63.4% OF S-OIL WITH THE REMAINDER FLOATED. SOURCE: SAUDI ARAMCO, PARTNERS. RECENT DEALS Aramco’s interest in the Indian downstream is also in line wi...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
EBRD Kick-Starts Egypt Solar With $500mn Investment In 16 PV Projects
...nstruction before the end of 2017.” SOLAR STORM The Abu Dhabi-based International Renewable Energy Agency (Irena) pegs Egypt’s total end-2016 renewables capacity at 3.66GW. However almost 3GW of this is hydropower – primarily Nasser’s flagship 1960s Aswan High Dam megaproject – some 750MW is wind, wi...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Opec Revenue Purgatory Stretches On
...rong non-Opec growth of 660,000 b/d for 2017, global stocks are on track to fall by 260mn barrels by the end of the year unless Opec output falls (see table and chart). It’s a sizeable amount, but insufficient to bring stocks down to their five-year average, which Opec says would constitute “re...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Opec Confirms 13% 2016 Revenue Fall: Iran The One Winner
...Opec released its Annual Statistical Bulletin (ASB) this week, which detailed its members’ oil export revenues. The group’s overall takings fell 13.2% from 2015, which itself was the lowest since 2004, to $445.7bn (see table). Revenues are on track to post a moderate 14% gain in 2017, la...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Erbil Plays Russian Roulette With Independence Vote
...portunities than Iraqi Kurdistan. Meanwhile, Russia exported 24.5bcm of gas to Turkey in 2016, around 11% of total exports. Volumes are up 25% year-on-year in the first quarter of 2017 at 7.9bcm, which if sustained would result in a record 30.6bcm. And in Iraq, Gazprom Neft operates the 67,000 b/d Badra fi...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Algeria Holds IOC Partners Close
...me on stream in the second half of the year with first output from Engie-operated Touat also slated to follow before the end of 2017 (MEES, 17 February). PIPELINE PROGRESS The 770km, 8.8bcm/year capacity GR-5 pipeline linking Reggane with Algeria’s Hassi R’Mel gas hub (via Touat and Timimoun) wa...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Kuwait Approves 2017-18 Budget With $26bn Deficit
...The Kuwait parliament has approved the budget for fiscal year 2017-18 starting on 1 April, with oil revenue set to remain relatively flat at KD11.7bn ($38.6bn). The budget projects that Kuwait will run its fourth consecutive deficit, with the shortfall set to rise to $26.1bn for the current ye...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Energy Subsidy Spending In Arab Countries (% Of GDP) - IMF
...OIL SUBSIDIES ARE DOWN SINCE 2013 BUT BY LESS THAN THE FALL IN OIL PRICES* *ADJUSTING THE 2013 SPEND FOR SUBSEQUENT OIL PRICE CHANGES WOULD RESULT IN AN AVERAGE FALL IN SPENDING OF 3.5% OF GDP, IE FROM 4.9% TO 1.4% FOR THE REGION AS A WHOLE. SOURCE: IMF, JUNE 2017. TOTAL EN...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Oman $500m Power Bond
...19. Besides expanding the 400kV transmission network, OETC will add new substations and transmission lines to the 220kV and 132kW distribution systems in both grids. Oman, burdened by a $7.7bn budget deficit in 2017, says that it has now completed its financing need for the year, with the $2bn in...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Global Oil* Supply And Demand To 2035 - BP’s Take (Mn B/D)
... SHARE OF LIQUIDS SUPPLY (%) *INCLUDES BIOFUELS. SOURCE: BP ENERGY OUTLOOK, 2017....
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Qatar Shrugs Off Restrictions With Continued Oil, Gas Exports
...OVIDE 2017 BOOST (‘000 B/D, NET)… …WHILE QATAR SUPPLIES 82% OF TOTAL’S MIDDLE EASTERN** GAS PRODUCTION (MN CFD) *MEES PROJECTIONS.**EXCLUDES NORTH AFRICA SOURCE: TOTAL, MEES. TOTAL HEADACHE Cosmo has only a modest upstream presence in both countries, but the sa...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
UAE Gas Supplies: Qatar Dependence Remains Despite LNG Diversification
...eraged $7.7/mn BTU in Jan-April 2016, down from $12.97/mn BTU in Jan-April 2015. They averaged $8.03/mn BTU in Jan-April 2017, though have since eased (see chart, p7). LNG IMPORT CAPACITY… The UAE has two LNG import terminals. Dubai has had a 960mn cfd floating storage and regasification un...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Rig Count: Iraq Drilling Resurgent, Saudi Offshore Growth Slow To Materialize
...gs in Iraq (all are onshore oil rigs) hit a 17-month high of 51 in May. Drilling is still well down on 2014’s highs, but has been steadily increasing since the second half of 2016. How much further it will rise in 2017 is unclear as IOCs are still cautious on investment in Iraq. Shell has mo...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
US Becomes A Player In Asian LNG Trade
...ound a month is factored in: US volumes arriving in China for December 2016 through April 2017, at 539,000 tons, equate to the November-March volumes in the US stats. Similar comparisons also hold for Japan and South Korea (see chart). US GAS & LNG EXPORTS HIT RECORD VOLUMES IN Q1 *1 TON LN...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017