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DEWA Urges Consumers To ‘Think Smart’ Under New Electricity Strategy
...an doubled from 2004 to 2014, from 3.23GW to 7.23GW. In 2014 peak demand was 9.7% higher than the 6.86GW in 2013. DEWA’s current generating capacity is 9.66GW, but peak demand could exceed this level in four years’ time at last year’s growth rate, if no capacity is added. Hence DEWA will build 2....
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Saudi Top Oil Brass On China Charm Offensive
...inese imports have continued to rise, meaning that the Saudi market share has fallen from a peak of 21% in 2009 to 16% for 2014 and Q1 2015. China is Saudi Arabia’s second largest customer, after Japan which took 1.22mn b/d in Q1 (see table p18 and graph p19). The US, in top position until mid-2014, ha...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Damascus Cash Crunch As Crude Below 10,000 B/D
...oduction of 385,000 b/d before the start of the uprising in March 2011. However, if the government figures are to be believed, output is actually up slightly on the 2014 average of 9,330 b/d, while the average for the first quarter of 2014 stood at 13,000 b/d (MEES, 9 May 2014). Gas production has fa...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Gaza Aid Falters
...construction has barely started at the besieged coastal enclave. At the Cairo conference a total of $5.6bn was pledged (MEES, 17 October 2014): of this $3.5bn was earmarked for Gaza (the rest was for general Palestinian government support), and a mere $945mn has been delivered. The report notes that while so...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Chevron ‘On Verge Of Quitting’ Neutral Zone
...port for 2014 that it may not be able to sustain production from Wafra at current levels. Failure to resolve the problems might force the company to wind down its operations, a senior Saudi source told MEES recently (MEES, 3 April). Chevron’s onshore fields in the Neutral Zone are the US company’s on...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Medco Gets Another 25 Years At Oman’s Karim Fields
...e back of more than 12 months of negotiations (MEES, 7 March 2014), and will kick in at the conclusion of the original agreement next year. Under the terms of the deal, Medco commits to investing $120mn/year for the first five years of the contract period (2016-2021). This could then rise to $13...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iranian Officials Highlight Scourge Of Corruption
...2014 to 12.3% in 2015 and 13.2% in 2016, according to the IMF’s April 2015 World Economic Outlook. The speaker of the Iranian parliament Ali Larijani said this week that 42% of Iranian university graduates are unemployed. ...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Jordan Taps IMF Funds
...versification efforts, will ease pressure on Jordan’s public finances and help contain the current account deficit. Also lower oil prices will help to boost Jordan’s growth prospects. But the switch to imported oil from cheaper Egyptian gas (disrupted since 2012, and reduced to a trickle of only 30mn cfd in 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iraq: Q1 Exports Hit 2.7mn B/D But Still Way Off 3.3mn B/D 2015 Target (‘000 B/D)
...b-15 Jan-15 2014 2013 2012 2011 2010 CRUDE OUTPUT: Federal* 3,064 -42 -77 3,...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Japanese Crude Oil Imports: Seasonal Trends Continue As Saudi Volumes Hit Record (‘000 B/D)
...14 2Q14 Mar-15 vsFeb15 Feb-15 Jan-15 2014 rank 2013 2012 MIDDLE EAST 2,...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 30-Apr 20-24 Apr 13-17 Apr Mar-15 Feb-15 Q1 2015 Q4 2014 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
JAPAN Q1 OIL IMPORTS: DOWN 11% ON 1Q14 BUT SAUDI AT NEAR-RECORD 1.4MN B/D IN MARCH
...JAPAN Q1 OIL IMPORTS: DOWN 11% ON 1Q14 BUT SAUDI AT NEAR-RECORD 1.4MN B/D IN MARCH (‘000 B/D) 1Q15 rank vs1Q14 vs1Q13 4Q14 3Q14 2Q14 Mar-15 vsFeb15 Feb-15 Jan-15 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
KRG At Point Of No Return As Baghdad Sues Over Oil Sale
...r failing to meet its 2014 export commitment of 400,000 b/d. It also dismissed a KRG invitation to SOMO to observe the independent sales, saying the state marketer’s role was not that of observer. The KRG halted oil exports from the semi-autonomous province in 2013 because of the dispute with Ba...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Output Continues To Slide As South Sudan Conflict Rumbles On
...eater Pioneer Operating Company (GPOC), and 5,000 b/d from the fields in Block 5A, operated by the Sudd Petroleum Operating Company. All Unity production has been offline since the second week of 2014 though, after rebel forces temporarily took control of the fields in the state, and damaged key in...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
RasGas Breaks With Oil Link In E.ON LNG Deal
...targas-4 (Train 7) – a JV between QP (70%) and Shell (30%) – signed a five-year sales and purchasing agreement (SPA) for Qatargas to supply 1.5mn t/y of LNG to Gasunie and Vopak’s Gate LNG terminal in Rotterdam from January 2014 (MEES, 18 October 2013). Like the RasGas deal, the contract allows for fl...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Turkey’s Petkim Readies For Integration Of STAR Refinery
...8,000 t/y and PTA capacity to 105,000 t/y. Basic engineering and procurement have been largely completed, and construction work is expected to start in 2014. The $5.5bn STAR refinery is being built by Spain’s Tecnicas Reunidas, Italy’s Saipem, South Korea’s GS Engineering and Construction and Japan’s It...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Saudi Refining Output Down In 2013, Major Integration Under Way
...benzene and propylene. At Yanbu’, the Yasref refinery, being built by Aramco and China’s Sinopec, has “made significant progress towards start-up in 2014.” The 400,000 b/d plant will be Saudi Arabia’s “most advanced refinery,” processing Arabian Heavy crude into high quality gasoline, diesel, LPG an...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Saudi Refineries Output 2013
...tal *2505 85.1 91.7 -6.5 from Sep 2014 Yasref, Yanbu Ar...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
US ‘Loss’ Is OPEC Gain As Vienna Meeting Nears
...gions, made for dramatic headlines, the reality is not so bleak. The EIA’s revision actually raises the estimate of production from Monterey to an average 57,000 b/d between 2010 and 2040, up from a 2013 estimate of 14,000 b/d. The new report will be published alongside the EIA’s 2014 Annual Energy Ou...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Egypt To Slash Petroleum Subsidies As Part Of New Budget
...recent months been hit by severe power cuts, ultimately caused by a shortage of fuel and a lack of sufficient funds to import products from the international market. Reviewing the 2014-15 draft budget, Finance Minister Hani Qadri Dimian said that it projects total expenditure at E£807bn ($11...
Volume: 57Issue: 22Published at Fri, 30 May 2014