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Opec Production Rises To 12-Month High As Tapering Begins
...anted an exemption as it seeks to reverse the damage inflicted in the persistent conflicts since the ousting of Muammar Gaddafi in 2011. Libya plans to boost production further this year (see p4), but recent history has shown that major production outages are an ever-present risk. Meanwhile all eyes ar...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
US Rigs Fall To New Low
...cord 76%. Of the latest fall, half (five) were in the Permian, leaving the total for the key Texas/New Mexico shale basin at 132, level with the April 2016 nadir as the low point in data since 2011. Permian drilling has actually been more resilient than elsewhere – all other key basins had already hi...
Volume: 63Issue: 26Published at Fri, 26 Jun 2020 -
Gulf Crude Shipments Fall In Q2, But From Record Levels
...rch-May, the lowest three-month-average figure in records going back 12 years. The Saudi share of the Chinese market averaged 20% as recently as 2011 and 2012. Other Opec producers have put in stronger performances. Angola’s 1.100mn b/d January-May average was over 230,000 b/d (27%) up on 2016’s re...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...rkedly each year since 2014 and as a result gasoline and diesel output in particular have soared. The kingdom last year became a net gasoline exporter for the first time since 2011 (see chart 5). Net gasoline exports were just 5,000 b/d in 2016, but are on track to exceed 30,000 b/d this year. Me...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
OPEC May Production Drops Despite Saudi And Iran Increases
...vels of 3.58mn b/d (2011). May’s 3.42mn b/d is the highest output figure since February 2012’s 3.46mn b/d, just after the announcement of tighter EU sanctions but before they took their full toll on production. Both countries remain intent on securing their “rightful” market share, following the 2 June Op...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
US Imports More Gulf Opec Crude As Production Continues To Fall
...y (see p24) “the highest monthly level recorded since EIA started tracking global disruptions in January 2011.” US crude production of 8.75mn b/d in May was the lowest since June 2014 and down some 950,000 b/d from the April 2015 peak, recording the biggest month on month fall since September 20...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Opec: Fit For Purpose? What Purpose Is That Exactly?
...enna at the time. Iran would be integral to any such agreement given its continued post-sanctions production ramp up – reaching 3.38mn b/d in April, up 460,000 b/d since sanctions were lifted in January and only 200,000 b/d below 2011’s 3.58mn b/d output. Unsurprisingly Iran’s Oil Minister Bijan Za...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Mena Oil & Gas: Key Production/Consumption Numbers From Bp’s 2015 Statistical Review
...lance 2010 2011 2012 2013 2014 mn b/d % 2010 2011 2012 2013 20...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Bijan Namdar Zanganeh: A Star Is Born At OPEC
...at it was pre-sanctions as soon as the restrictions on its exports are lifted. Current Iranian production is some 800,000 b/d down on what it was back in 2011 (see p2), whilst Iran’s current exports are 1.2-1.3mn b/d below the 2.5mn b/d it was producing in the same year. Mr Badri said after the en...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Algeria Heading For Oil Output Drop
...line later than envisaged. BP’s expansion of In Salah has been pushed back after the attack on the In Amenas fields by Islamist terrorists in 2011, and no new deadline has been given. GDF Suez’s Touat project is now scheduled to come online in late 2016, a year later than envisaged. Total’s initial de...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Massive Us Growth Balances Mideast Instability, But For How Long?
...eater than forecast in 2012, 2.20mn b/d higher than anticipated in 2011, and 3.21mn b/d above 2010 projections, the IEA says. Us: ‘Huge Investments’ “Huge investments resulted in the US delivering the world’s largest increase in oil production last year” says BP chief economist Christof Rühl, no...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
MENA Oil & Gas: Key Production/Consumption Numbers From BP’s 2014 Statistical Review
...nsumption 2013 vs 2009 Balance 2009 2010 2011 2012 2013 mn...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Nigerian Minister Surprises With Bid For OPEC Top Job
...mpany NNPC. It is not known who paid for the FT advert. The minister’s aides have denied the charge and she herself said in a statement after the allegations surfaced that the chartered aircraft was used to carry out official duties. Since her appointment in June 2011, the minister has been cr...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Seoul Seeks To Sate Mideast Supply Needs
...er Seoul’s oil imports appear unassailable. Predictably, US-led sanctions on Tehran have eroded Iranian crude import volumes. Jan-May 2013 average of 146,000 b/d is sharply down on 2011’s 251,000 b/d, but only marginally on last year’s 154,000 b/d (see table 2). Purchases from the UAE have made st...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
OPEC Voices Cautious Optimism Over 2H13 Demand
...ll again.” Average OPEC oil output in May rose by 105,000 b/d from the previous month to 30.57mn b/d, the group said – some 570,000 b/d greater than the 30mn b/d production ceiling that has been in place since December 2011. These figures compare with MEES estimates of a 61,000 b/d increase in...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013