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Saudi Economy Will Remain Coupled To Oil Prices
...2014-2015^ mn b/d 0.6 0.8 1.4 115 to 47...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Lebanon Bags Good Terms For $1.6bn Eurobond Despite Geopolitical Headwinds
...stability. Lebanon’s power vacuum has brought the decision making process in the government to a virtual standstill with no measures to deal with key economic decisions. The country has been without a head of state since President Michel Sulaiman’s term expired in May 2014, and parliament has been unable to ag...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Japanese Crude Oil & Condensate Imports 3Q15 (‘000 B/D)
...-Jul 2014 rank 2013 2012 2011 Middle East 2,829.30 246.6 29.1 2,...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
United States: Key Oil Figures (‘000 B/D)
...3Q14 2Q15 1Q15 4Q14 2014 2013 2012 CRUDE OIL IMPORTS 7,182 7,287 7,638 7,...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Benchmark Crude Prices ($/B)
... 5-Nov 26-30 Oct 19-23 Oct 15-Oct 15-Sep Q3 2015 Q2 2015 YTD 2015 2014...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Egypt Closing In On Debt Repayment And New Bid Round, Minister Says
...used rolling blackouts over the summer and brought exports to a virtual standstill, leaving two LNG export facilities idled. Output slumped to 4.8bn cfd for the first seven months of 2014 (and a 10-year low of 4.55bn cfd for July – the most recent available data), over 700mn cfd down on estimated de...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Stocks Special: Saudi Strong, Chinese A Bit Less Reserved
....7mn barrels (620,000 b/d) in September with “extra cargoes [imported] from Saudi Arabia, Kuwait, Iraq and Oman,” the IEA says in its November Oil Market Report. According to IEA calculations, China added 105mn barrels to its stocks during the first nine months of 2014. This comes on top of an 89mn ba...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Iran Oil Exports To Rise In 2015 Despite Nuclear ‘No-Deal’
...wn, averaging less than 1.3mn b/d for the first ten months of 2014 (including condensate), versus 2.53mn b/d in 2011 (see graphs). Condensate Boost Speaking in Vienna this week, Iran’s Oil Minister Bijan Zanganeh said that despite the sanctions, Iran is still targeting an increase in exports ov...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Oman Set To Cut Spending For 2015 As Revenues Slide
...nsideration but there are no plans for salary cuts, he adds. The minister reiterated plans, announced last month, to cut its energy subsidies for 2015, with the currently “ineffective” system to be better targeted on the needy sections of society. Oman’s 2014 budget projects spending on energy su...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Qatar Looks Resilient To Lower Oil Prices
...tting money aside in the years of plenty. While prices for most of its key LNG exports are oil-linked, costly Australian projects will be harder hit. Qatar posted a surplus of some 31% of GDP in 2013. This will only shrink modestly in 2014: the country benefitted from high oil and LNG prices for mu...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Egypt: IMF Praise
...turn in confidence, are starting to produce a turnaround in economic activity and investment, Mr Jarvis observes, with growth projected at 3.8% in fiscal 2014-15. In a seeming reference to $8.4bn ‘Second Suez Canal’ plans, the IMF cautions “megaprojects offer prospects for jobs and growth but sh...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Jordan Moves Toward Austerity In 2015
...0/B. Main Aspects Of 2015 Budget Outlining the main features of the new budget, Mr Tuqan said that the deficit (after grants) is projected to shrink by 24.5% to JD688mn ($970mn), or 2.5% of GDP, from a revised figure of JD911mn ($1,285mn) in 2014. Total revenue is estimated at JD7,408mn ($10...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 27-Nov 17-21 Nov 10-14 Nov Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Baghdad, Erbil Find Common Cause As Oil Price Falls
...port assumption in the 2014 draft budget. The KRG agreed to place 150,000 b/d of its crude at the disposal of the Iraqi oil marketing organization SOMO in return for the release of $500mn to pay salaries and cover other administrative costs. Iraq’s Finance Minister Hoshyar Zebari, a Kurd, said on 19...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
The Oil Price Slide: Just How Bad Is It For Iran?
...enarios, and have considered the consequences of choosing any of the oil prices between $70-80/B,” he said without going into any further detail. The government is hoping to settle on a figure by 22 November. This is in contrast with the budget for the current Iranian year (21 March 2014 – 20 March 20...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Algeria Surplus Down
...ALGERIA Algeria Surplus Down Algeria’s trade surplus in the first nine months of 2014 has fallen by 18.2% to $5.4bn, from $6.6bn in the corresponding period of 2013, latest official customs statistics show. The value of exports stood at $49.23bn, of which $47.18bn (96%) came from oil an...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
OPEC, IEA Envisage $175Bn-Plus Mideast Refining Outlay To 2040
...2040. Both envisage regional crude distillation capacity surging to 2040, driven by rising local demand and governments’ search for increased revenues from oil resources. OPEC’s recent 2014 World Oil Outlook (WOO) forecasts a 3.7mn b/d increase in Middle East refining capacity to 2040: 2....
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Subsidies Limit Gulf Progress On Energy Efficiency
...nsumption figures, both in per capita terms and per unit of GDP (‘energy intensity’). The International Energy Agency (IEA), in its 2014 World Energy Outlook (WEO) released last week, says Middle Eastern primary energy intensity fell by almost 1.5% a year during 2010-13. Though this fall is welcome, it is lo...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
OPEC Gears Up For Tough Ride As Cut Looks More Likely
...d bring other producers on board, if prices were allowed to fall further in the days leading up to the final meeting of 2014. “They (Saudis) know that to bring the others from OPEC to accept an accord, it’s easier to do if prices are going down,” says Mr Ait Laoussine, who is now a Geneva-based co...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
$30Bn Halliburton-Baker Hughes Merger To Have Major MENA Implications
...lliburton and Baker Hughes 1-3Q 2014 revenues were $42bn, a figure that would see the combined firm rival Schlumberger as the global market leader. A deal of this magnitude will almost certainly attract the attention of anti-trust regulators in the United States, and it will also likely face regulatory hu...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014