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Saudi Products Records Tumble With Europe The Target Market
...st year hitting a record 1.09mn b/d in Q1, the third straight quarterly record (see chart). Diesel now accounts for 40% of Saudi refinery output, up from an average of 33% for 2011-13. Q1 2016 also saw record output of jet-kerosene (259,000 b/d, with a monthly record of 277,000 b/d in March), wh...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Suez Canal Oil Data (‘000 B/D)
...NORTHERN OIL SHIPMEMTS HAVE DOUBLED SINCE 2011 TO AVERAGE 2MN B/D SINCE 2Q 2014... ...WITH SEASONAL RECORDS SET FOR EACH OF THE LAST THREE QUARTERS (MN B/D) NORTHBOUND PRODUCTS SHIPMENTS, DIESEL IN PARTICULAR, HAVE LED THE WAY. 1.2MN B/D OF SAUDI AND UAE RE...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
New Saudi Minister Faces Task Of Turning Vision Into Reality
...o was reportedly talked out of retiring as far back as 2011. The parallels between the two are evident according to Ms Nakhle: “they are both technocrats, they don’t come from the royal family, they both come from Aramco. They have experience in the industry, so it was an obvious choice.” Mr Fa...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iran Output Rebound Sets Stage For Saudi Stand-Off In Vienna
....81mn b/d output. The greatest increase came from Iran, which added a massive 280,000 b/d as it continues to close in on its pre-sanctions output: its April production of 3.38mn b/d is only 200,000 b/d below 2011’s 3.58mn b/d output. Iranian gains were closely followed by the UAE, which had ex...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Yemen Conflict Sees Gulf States Test Their Military Prowess
...March 2011, 1,000 Saudi troops and 500 from the UAE intervened to crush a popular uprising in Bahrain. But this is the first time that GCC nations have carried out a concerted air and ground campaign beyond their borders. “Supplying combat units on the ground and sustaining them is much more in...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Mideast Military Spending By The Numbers
...ader with over 16%; Saudi Arabia spends 14% and Iraq 9%. The share of GDP spent on the military by the Middle East as a whole has increased in each of the past five years, to 5.8% in 2015 from around 4% in 2011, although this is below 1995’s record 6.4%, according to SIPRI. Aside from the severe se...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Global Military Spending Up In 2015, Saudi Arabia In Third Position
...litary operations have until recently not been a major focus for armed military forces in the Middle East region,” says James Hackett, senior fellow for defense and military analysis at the International Institute for Strategic Studies in London. “But since 2011, there has been a tendency for some re...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Japan Takes In More Opec Crude And Condensate As Imports Rise In 1Q16 ('000 B/D)
...*ALL USA SINCE 2014. 2011 VOLUMES INCLUDE CANADA....
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Egypt Doubles Down On Attempts To Reverse Gas Slump
...e BG-operated WDDM project more than accounts for the remainder. Output from the BP/Eni fields is down by a total of 524mn cfd since 2011, with BG output down 440mn cfd over the same period, some 83% of the overall 1.15bn cfd fall in Egypt’s output since 2011. Eni has been keen to talk up its De...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Saudi Mosque Bombings Shatter Illusion Of Security
...stern Province since the 2011 so-called Arab Spring revolutions. Riyadh has in the past blamed Iran for what it says is an attempt to foment strife amongst the Shia minority. It also blames Tehran for supporting the Houthi rebellion in Yemen, which prompted King Salman to order air strikes against the Ye...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
ENOC Moves Ahead With Offer To Absorb Dragon Oil
...though the UAE raised gasoline prices twice in recent years, it deferred a third price in the wake of the Arab revolutions of 2011, fearful of a backlash. Federal law requires that Enoc and its subsidiary Emirates Petroleum Products Company (Eppco) sell gasoline at the government mandated price. In 2011, th...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Wintershall Exits Qatar Gas Block
...st. It comes as the German oil and gas company is struggling to maintain its output in Libya, where it produced up to 100,000 b/d of crude oil before the February 2011 revolution. Output has been erratic since and Wintershall has said that it does not see a return to pre-crisis production levels this ye...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
South Sudan: Remaining Oil Output Under Threat
...velopment (IGAD) going nowhere, and the crisis showing few signs of abating, the focus has once again turned to South Sudan’s oil fields, the country’s main revenue earner. Oil production is down from around 245,000 b/d pre-conflict, and 347,500 b/d in the second half of 2011, immediately after the So...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Companies Scale Back Libya Expectations
...nce 2011 (MEES 24 April). The impairments “mainly related to the deteriorating security situation this quarter,” said Total’s chief financial officer, Patrick de la Chevardiere, in a conference call on 28 April. “We have fully impaired our onshore fields in Libya, which is most of the charge, as we...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...DICATED) 2014 vs2013 2005 2006 2007 2008 2009 2010 2011 2012 20...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Morocco’s $4.6bn LNG Scheme Continues To Drum Up Interest
...d a 170MW steam turbine, requiring around 84 mn cfd (0.87 bcm/y). Supplies to the two plants were until October 2011, exclusively covered by the payment in kind – 0.75 bcm/y of gas that Morocco would receive from Algeria in return for transit rights. Morocco wanted to receive its transit fees in ca...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Egypt’s Deficit Up
...balances after the January 2011 revolution (including $3bn grants from Saudi Arabia and the UAE, in addition to E£20.3bn out of the E£29.7bn allocated to finance the first stimulus package), it did not have the same inflow in the corresponding period of 2014-15. If these exceptional inflows were to be ex...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Algeria’s Youcef Yousfi Ousted In Cabinet Reshuffle
...ined in 1998 as head of the petroleum economics studies division before becoming head of operational research and petroleum economics until 2004. His most recent role was as chairman and chief executive of the Algerian Petroleum Institute (IAP), a position he held for five years until 2011. Mr Khebri gr...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
He Ain’t Heavy, He’s My (OPEC) Brother
...rticular market have failed miserably. In 2011, when the world lost nearly all Libyan output, Saudi Arabia came up with the notion that it could fill the void by creating a super-light, low sulfur blend mimmicing Libyan crude. But the Saudi cocktail found almost no takers: while the API gravity of the bl...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
US Tries To Soothe Gulf Arab Fears Over Iran At Camp David Summit
...nations sharing common interests. The GCC has been weakened by internecine disputes since the start of the so-called Arab Spring revolutions of 2011, often finding some of their members on opposite sides of the struggle against rising extremism in the region. The metastatic spread of Iranian in...
Volume: 58Issue: 20Published at Fri, 15 May 2015