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Palestinian Natural Gas Ambitions
...mand. In January 2014, the three Israeli companies with a share in Israel’s Leviathan field (Avner, Delek Drilling and Ratio) announced that the Palestine Power Generation Company (PPGC) had agreed to buy $1.2 bn worth of natural gas over a 20-year period when the giant field begins production. The Le...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Benchmark Crude Prices
...Benchmark Crude Prices ($/B) 29 May 19-23 May 12-16 May Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Saudi Aramco Gives North Ghawar Reservoirs A Rest
...l in 2013, down from a record 9.51mn b/d the previous year. MEES estimates Saudi output in the January-April period of 2014 has averaged 9.7mn b/d as the kingdom has maintained a high level of production, partly to satisfy good customer demand for its oil and partly to offset unplanned outages es...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Lukoil Still Negotiating Gas Price With Aramco
...ed for gas for power generation and as feedstock for petrochemicals production. Lukoil said last year that it hoped to start producing gas from Block A in 2014 but this now appears unlikely. Company vice president Leonid Fedun said in late 2012 that the 14 tcf Rub’ al-Khali gas discovery was la...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Tunisia: Hope Tempered By Strikes And Unemployment
...gures 2010 2011 2012 2013e 2014p 2015p GDP growth (%) 2.6 -1.9 3.7 2....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Iran Refineries Produced 1.64Mn B/D Last Year; CDU Capacity 1.86Mn B/D
...rch 2014. This represents a capacity utilization rate of 88.1%. Diesel and gasoline together accounted for 60% of total output. However, Iranian data submitted to JODI indicates Iran’s refineries produced an average 1.81mn b/d for the roughly similar April 2013-March 2014 period, up slightly from 1....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Aramco Targets Energy Efficiency,
...gen 0.75 Gas 2014 3 Cogen Plants 0.90 Oil/Gas 2016 Shaybah Upgrade 0.24 Gas 20...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sonelgaz $7.6Bn Powergen Outlay By End-2017
...ALGERIA Sonelgaz $7.6Bn Powergen Outlay By End-2017 Algeria’s state electricity and gas utility Sonelgaz estimates the price of required power generation, transmission and distribution capacity additions during 2014-17 at AD1.7 trillion ($21.5bn). To satisfy double-digit de...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Climate Study Targets ‘High-Cost Barrels’; OPEC Share Set To Rise
...gher than this by the end of the period). IEA: Oil Production Changes By OPEC/Non-OPEC 2015-35 (Mn B/D) Exposure To High-Cost Barrels By Ownership Type (% Of Production To 2050)* Breakeven Price Bands Of 2014-50 Oil Production By Ownership Type* (Mn B/D) Carbon Tracker’s Fi...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Yemen Mired In Fuel Subsidy Dilemma
...eds to cover the subsidies for the first quarter of 2014, and has also fallen behind on payments from the fourth quarter of last year, Ms Tairy said, amounting to around YR7bn ($40mn). The Ministry of Finance is also behind on payments to Yemen’s Ministry of Electricity to the tune of YR6-7bn ($34...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sisi Promises Economic Reforms
...vying an additional 5% tax on all individuals whose income exceeds E£1mn ($140,450). The minister said Egypt could stand to save 20% on its energy bill in 2014-15 by reducing energy subsidies – a process which would continue over the coming three to five years. Smart Cards Egypt is planning to...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
IMF: Cyprus On Target
...nances on 17 May. The IMF says that Cyprus’ program remains on track, and that “fiscal targets for the first quarter of 2014 were met with considerable margin, reflecting better-than-projected revenue performance and prudent budget execution.” The recession in 2015 is expected to be less severe than in...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 22 May 12-16 May 5-9 May Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...ese numbers highlight the extraordinary measures Qatar is taking to stabilize crude production. Qatari oil production has fallen steadily since February 2009 when it topped out at 860,000 b/d. During the first months of 2014, production has drifted between 710,000 b/d and 720,000 b/d (see ch...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
KRG Goes Quiet On Oil Export Plans As Storage Tanks Fill Up
...certainty in the timing of revenue recognition and guidance for 2014,” GK adds. Spring Break The company gave a net revenue guidance for the year of $150-180mn, which was below analysts’ expectations. This is the second blow to GK, which also took a hit in April after a third party evaluation re...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Libya: Production Resumes In East And West
...rmany’s Wintershall, France’s Total and Norway’s Statoil. OMV has already factored in continued interruptions to its Libyan operations to its 2014 outlook. The company trimmed its production guidance to 310,000 – 330,000 b/d, down from the 320,000 – 340,000 b/d target it stated as recently as last month....
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Fertilizer Boost For Algeria’s Battered Petchems Industry
...13, a cumulative fall of 21% since 2006, according to official figures released by the IMF in its extensive report on the Algerian economy earlier in the year (see graph). LNG exports have fallen even further: from 14.3mn tons for 2010 to 10.9mn tons last year, according to the 2014 report of the In...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Targets Petchems Hike
...more than 25%, he told the petroleum ministry’s Shana website, from 40mn tons produced in the year ending 20 March 2014. The company aims to get its petrochemicals expansion back on track after years of economic sanctions and the withdrawal of international firms from Iran’s petrochemicals se...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Gifts Egypt Oil
...the first year of the revolution. Egypt’s draft budget for 2014-15 (the year beginning 1 July 2014) projects a deficit of 13.9% of GDP, an official source has announced. This is higher than the current figure of 9.1% in the 2013-14 budget ending on 30 June. The new budget will also levy an ad...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Arabia Sees No Need For OPEC Output Hike
...2014 as a whole, albeit by a much more modest 100,000 b/d (see table). In hiking its ‘call on OPEC’ figure the IEA cited continued non-OPEC outages, uncertainty as to the timing of a return in Libya to full production, worsening security conditions in northern Iraq as a result of pipeline sabotage an...
Volume: 57Issue: 20Published at Fri, 16 May 2014