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Saudi Aramco’s Mu’ajjiz Port Development Enhances Flexibility
...ipped to the facility. The most economic option would likely be to pipe crude to the west coast and then ship it south to Jazan. This appears to be the strategy. Aramco’s 2014 annual review said that redevelopment of Mu’ajjiz will “accommodate the increased volumes of fuel oil and supplies of Ar...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Iraqi Coffers Reap Reward Of Higher Oil Prices
...low 2014’s $30.2bn. Revenues for April were up 37% year-on-year at $4.6bn and were higher than every month in 2016 except December. Although they slipped slightly from March’s $4.8bn, this was effectively due to the shorter month, as daily revenues averaged $154mn in both March and April. Oil re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Algeria Plans For Lower Revenue By Slashing Upstream Investment
...vestment to $73bn (officially “more than $73bn”) for 2016-20, down from $90bn for 2015-19, which in itself was down from its $100bn 2014-18 plans (MEES, 11 July 2014). While Sonatrach managed to spin last year’s cuts as a maintenance of its investment plans combined with a stronger dollar and falling co...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Saudi Products Records Tumble With Europe The Target Market
...fineries since 2014 – both now running at full capacity – and crude output remaining at near-record highs of over 10.2mn b/d, records for the country’s products output and exports continue to tumble. Crude throughputs at the country’s refineries hit a record 2.571mn b/d in the first quarter, with 2....
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 -
The UAE Gears Up For Second FSRU As Fujairah Terminal Looks Uncertain
...mestic gas production has failed to keep pace with local demand, the UAE has been forced to plug the gap with pipeline imports from Qatar via the Dolphin pipeline. Imports through the link were recorded at 18 bcm in 2014, while production stood at 57.8 bcm and consumption at 69.3 bcm. But the supply gap is...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Morocco’s $4.6bn LNG Scheme Continues To Drum Up Interest
...rocco’s favor. With more LNG projects starting up in the coming years in Australia, the US and other regions, it is increasingly a buyers’ market – especially in terms of price. Morocco is an additional target for producers and portfolios looking to sell future or flexible LNG. As per its December 2014...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Egypt Boosts LNG Import Plans
...llant FSRU at Ain Sukhna. The vessel has been leased to state gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Mr Molla tells MEES that he expects four cargoes to arrive per month and once the second FSRU arrives, eight. With eight LNG cargoes ar...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Oman LNG Faces Further Revenue Downside
...OMAN Oman LNG Faces Further Revenue Downside State-owned Oman LNG recorded an annual drop in revenue of around 9% to $4.074bn in 2014, as export volumes fell from 8.9mn tons/year in 2013 to 7.95mn t/y last year, the company said in its Annual Report last week. The 2014 export volume pu...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Qatar Launches $1bn LNG Boil-Off Facility
...erations at JBOG date back to October 2014, with jetty boil-off gas recovered from over 500 ships since then. Emissions were not helped by the previously-routine flaring of boil-off gas at Ras Laffan. More common global practice has long been to either use boil-off gas for power generation, or to re-li...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Italy Ups Algerian Gas Imports As Lower Oil Prices Feed Through Into Contracts
...ALGERIA Italy Ups Algerian Gas Imports As Lower Oil Prices Feed Through Into Contracts Exports of Algerian gas to Italy averaged 22.6mn m³/day for April (800mn cfd), twice 4Q 2014 levels. Volumes are set to keep increasing this summer, as the impact of lower crude prices gradually fi...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
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 -
Jordan Shortlists Amman Products Terminal Bidders
...rnkey basis during 2014-15 under an engineering, procurement, construction and commissioning (EPCC) contract. The terminal will store 250,000-300,000 tons of white products (gasoline, kerosene, jet fuel and diesel) and 8,000 tons of LPG. It will be built to the east of the capital and will include road ta...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Qatar LNG For Kuwait
...QATAR Qatar LNG For Kuwait Following two years of negotiations, Kuwait Petroleum Corporation (KPC) has finally concluded an agreement to import LNG from Qatargas, though this initial agreement does not extend beyond 2014 – leaving some degree of supply uncertainty over the medium term fo...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
ADNOC Pushes To Own Faulty Hormuz Bypass Pipeline
...erator of most of the Emirate’s onshore fields. ADCO’s concession expires on 13 January 2014 and CNPC is one of 11 firms invited by ADNOC to bid for it. ADCO is composed of ADNOC (60%); with BP, ExxonMobil, Total and Shell holding 9.5% apiece; and Portugal’s Partex (2%). State-owned CNPC has been invited fo...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Yemen LNG Sees Upturn In 2013 Fortunes
...creased revenues for San’a going forward; from 2014 there will be “no [price] ceiling” on sales contracts and “by 2015 most of the loans and the banks will be paid for…[LNG exports] will provide a significant portion of the state’s revenues.” Possible Expansion With Yemen having recently put 20...
Volume: 56Issue: 20Published at Fri, 17 May 2013