- Sort by:
- Score
- Published ▼
-
Kuwait May Tax Firms
...ficit of KD8.2bn ($27.3bn) after allocation of revenue to the Reserve Fund for Future Generations (RFFG). The new budget is based on an oil price assumption of $45/B, compared to $75/B in the current 2014-15 budget. The government has already cut subsidies on diesel, kerosene and jet fuel as of...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Egypt Open For Business With $175Bn Of Deals Signed At Development Conference
...ods were also halved. The president said that Cairo aims to raise the GDP growth rate to 6% over the next five years –from 2.2% for 2014 and an IMF forecast 3.5% for 2015 – whilst cutting the unemployment rate to 10% from the current 13%. At the same time Mr Sisi confirmed that the government is co...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Saudi Refinery Output Tops 2mn B/D For Eighth Straight Month
...fineries. • Product volumes delivered ‘through the refinery gate’ actually peaked at 2.44mn b/d in December 2013, when crude runs were only 2.06mn b/d, indicating the delivery of larger than usual volumes from storage. Products demand reached a new peak of 2.02mn b/d in December 2014, but fell to 1.87mn b/d in...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Benchmark Crude Prices ($/B)
...OIL PRICES 19-Mar 9-13 Mar 2-6 Mar Feb-15 Jan-15 Q4 2014 Q3 2014 2014 20...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Kuwait Starts Clean Fuel Construction
...ntracts worth a combined KD3.34bn ($12bn) for the CFP. Japan’s JGC is upgrading Mina al-Ahmadi, while Britain’s Petrofac and US firm Fluor have been awarded separate EPC contracts for upgrading Mina Abdullah (MEES, 14 February 2014). Amec Foster Wheeler is project management consultant for the CFP un...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Iran Beats The Odds With 20% Gas Output Hike
...tal output, in the current Iranian year (21 March 2014 – 20 March 2015). Incremental output from phases 15, 16, 17 and 18 – four of the 13 South Pars phases under development (beyond phase 12) – and phase 1 of the offshore 45.8 tcf Kish gas field nearby, make up the remainder of the in...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
KRG Keeps The Faith With Baghdad But Cash Still Short
...cember agreement that broke the deadlock which in 2014 deprived both sides of much needed cash, the KRG agreed to drop its earlier objections and allow SOMO to market 250,000 b/d of its oil in return for 17% of federal sovereign expenses, plus an additional $1bn contribution to salaries of Kurdish Pe...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Kuwait To Invite IOCs To Bid On Expansion Projects
...impact on Chevron’s operations while a separate disagreement over how to proceed with the offshore Dorra gas field, part of which is also claimed by Iran (MEES, 4 July 2014), has frozen efforts by both countries to boost their gas production. The Neutral Zone is split 50:50 between Kuwait and Sa...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Aramco Completes Red Sea Drilling, Touts Discoveries
...SAUDI ARABIA Aramco Completes Red Sea Drilling, Touts Discoveries Saudi Aramco discovered eight new oil and gas fields and produced a record volume of gas in 2014, CEO Khalid al-Falih says. Mr Falih, speaking to Reuters earlier this month, gave no further details nor did he say wh...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
US Production Hits Record 9.4mn B/D In February After Record 2014
...US Production Hits Record 9.4mn B/D In February After Record 2014 v 20...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
UAE: Ruwais Expansion Ramps Up Output
...oducts demand has risen sharply in recent years, to around 400,000 b/d for 2014, while exports have fallen away to dip below 200,000 b/d. Takreer is also building a carbon black and delayed coker (CBDC) alongside the Ruwais Expansion plant, for start-up at the end of 2015. The plant will take heavy oi...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
GE Hints At $2bn-Plus Egypt Megadeal
...mmer Egypt’s diesel and fuel oil demand reached records of 300,000 b/d and 241,000 b/d, respectively, as power generators sought alternatives to burning gas (MEES, 12 September 2014). Though Egypt has long-term plans to raise gas output, officially LNG imports are only seen as a temporary measure until 20...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Turkey: CCGT Boost Takes Capacity Above 68GW
...jor new coal development is also envisaged. But, while Ankara has okayed the first nuclear plant, longer-term coal plans are still hazy (see right). Turkey’s recent powergen surge has included a major contribution from renewables – 800MW was added in 2014, taking Turkey’s wind capacity to more th...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Qatar-Japan Consortium Targets Turkey Coal-Fired Power
...I is already building a 510MW coal-fired plant at Soma in western Turkey, which is scheduled to start up in 2017 (MEES, 21 March 2014). Turkey currently has 12.5GW of coal-fired capacity out of a total 67.6GW. Besides the Soma and Afsin-Elbistan projects, the Turkish government has also signed a pr...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
OPEC On Autopilot Till June
...at the increase was “tentative” and due to cold weather and incomplete 2014 data. The slightly higher demand outlook led to an upward revision to the call on OPEC oil in 2015 to 29.5mn b/d, below current production of above 30mn b/d. The revised forecast also raised the 2H15 call on OPEC to 30...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Libya: Talks Postponed As Jihadists Step Up Oil Field Attacks
...e Algerian border, which has condensate production capacity of 15,000 b/d; and the offshore Bahr Essalam field, which has 30,000 b/d condensate capacity. El Feel was offline for much of the second quarter of 2014, but started up in June 2014 (MEES, 25 July 2014). It produced an estimated 80...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Algeria Confronts Libya Spillover Threat
...ternal investigation into the event by Statoil, for which In Amenas is one of its key overseas interests, made it clear that the Algerian military had not been prepared to meet a determined assault by a large group of terrorists (MEES, 22 August 2014). ALGERIA: KEY OIL AND GAS IN...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
BP Stakes Out Key Role In Egypt’s Gas Renaissance – If The Price Is Right
...rchase of shale gas. The two firms will exploit shale reserves on the Western Desert’s Northeast Abu al-Gharadig block later this year, and will spend some $30-40mn to drill three wells into the Apollonia formation (MEES, 19 December 2014). Cairo aims to attract IOCs with the hope of increasing gas pr...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Egypt Production To Get Worse Before It Gets Better
...EGYPT Egypt Production To Get Worse Before It Gets Better Egypt’s gas output fell to a nine-year low of 4.73bn cfd for 2014, and even lower in January. Oil output is stalled at 670,000 b/d (see graph, above). Cairo is hopeful that an exploration boost will reverse this trend: that LNG im...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Iran Slashes 2015-16 Oil Revenue Assumption
...ar beginning 21 March to 25% from the 33% originally mooted and 39% in the 2014-15 budget. This implies oil revenue of $24.1bn, down from $31.0bn in the previous draft. The budget was approved by the Iranian parliament on 3 March but needs the final green light from Iran’s Guardian Council, ch...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015