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A New Vision: Kurdistan, A Major Gas Province?
...itial 4 bcm/year of natural gas to Turkey from 2017, rising to 10 bcm/year by 2020 and with the option of increasing to 20 bcm/year thereafter (MEES, 11 April 2014). However, Mr Hawrami acknowledged that the KRG’s financial strains mean that the timeline would likely “slip by six to twelve months, to 2019 pe...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Oman Invites Bids For Building Duqm Refinery, Awards Liwa Cracker
...ocessing capacity of 222,000 b/d. The latest Jodi data show that state refiner Orpic processed an average 191,000 b/d of Oman crude in the first nine months of 2015, which was 2.6% lower than 196,000 b/d for the same period in 2014. Throughput for the first three quarters of 2015 was equal to the av...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Egypt Joins MENA Nuclear Club Through 4.8gw Deal With Russia
...actors at Bushehr, under a four-plant deal. However, the deal envisages Iran making its own fuel rods, which may prove a sticking point as the deadline for lifting international sanctions against Iran draws close (MEES, 21 November 2014). Meanwhile, Jordan has signed an agreement with Rosatom for two 1G...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Opec’s 4 December Meeting: Can Output Policy Deal Be Preserved?
...VEMBER 2014 (MN B/D) ...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Venezuelan Oil In Four Charts
...CREASE SHARE BUT US STILL DOMINANT VENEZUELA 2014 CRUDE EXPORT SPLIT (‘000 B/D)...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Iraq Reform Efforts Sputter, Budget Battle Heats Up
...thorities will implement a fiscal consolidation that will contain public expenditure in line with available revenue and financing” with the aim of “reduc[ing] the non-oil primary deficit by 4% of non-oil GDP between 2014 and 2016.” It took a couple of days for this to fully hit the Iraqi media, wi...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Algeria Faces Record $14bn Trade Deficit
...29bn in the same period of 2014, according to statistics from Algerian customs. Extrapolating the Jan-October figures to 2015 as a whole gives hydrocarbon export revenue of $36.4bn, down from $60.3bn for 2014 and an all-time record trade deficit of $13bn. It will likely be even worse. This pr...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
BG Deal Brings Cyprus, Israel Gas A Step Closer To Egypt
...lit evenly between its Delek Drilling and Avner Oil subsidiaries). And BG is already involved here: Noble and Delek in June 2014 signed a letter of intent with BG to supply Idku with 105 bcm of Leviathan gas over 15 years. Noble says it is in discussions with Cyprus to reassess the original de...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Algeria: Present Bad, IEA Figures Indicate Future May Be Worse
...wn from 1.5mn b/d in the 2014 WEO (released Nov 2014) to 1.38mn b/d (950,000 b/d crude and 430,000 b/d condensate/NGLs) in the organization’s Medium Term Oil Market Report in February this year and again to just 1.3mn b/d in the freshly-released 2015 WEO. SERIAL DOWNWARD REVISIONS: IEA WEO FO...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Benchmark Crude Prices ($/B)
... 25-Nov 16-20 Nov 9-13 Nov 15-Oct 15-Sep Q3 2015 Q2 2015 YTD 2015 2014...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Middle East To Drive Gas Growth, But Is It Sustainable?
...d of the decade.” In absolute terms, however, the IEA cut its outlook for 2040 global gas demand from that in its 2014 WEO, by 218 bcm/year to 5,160 bcm/year in its central scenario, mainly citing the economic slowdown and increased regulation for energy efficiency standards, and competition wi...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Saudi Crude Output Up But Refiners Put Squeeze On Exports
...ile September’s 744,000 b/d feed to electricity generators is below the summer peak of 894,000 b/d – itself just short of an all-time record – it is still seasonally high, some 15% higher than 648,000 b/d for September 2014. Refinery crude intake reached a new record of 2.50mn b/d in October, with th...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Taiwan LNG Imports January-September 2015
...15 2010 2011 2012 2013 2014 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Ju...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
UAE’s Ruwais Expansion Refinery Fully Operational
...oducts capacity in recent years. In 2014 the UAE’s refining companies produced 439,000 b/d of petroleum products, of which 389,000 b/d was consumed locally and 194,000 b/d was exported. The Ruwais Expansion will enable the UAE to eliminate gasoline imports – which averaged 34,000 b/d in 2014 – and in...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Egypt Tying Up Gas-Fired Finance, Looks To Advance Renewables And Nuclear
...pacity and some new plant start-ups, the Ministry of Electricity managed to deliver a daily peak record load of 29.1GW, which was 5.4% higher than the 27.6GW peak load recorded in 2014 (MEES, 21 August). The electricity ministry is looking to diversify its fuel mix away from gas and oil by en...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Opec Market Share Policy To Bear Fruit Next Decade - But Not For All
...0/B for Brent for 2011 through H1 2014 to below $50/B for all but a few days since the start of August (and below $45/this week). Though last year’s WEO was released in November, when prices had already fallen to around $80/B, at the time it was far from clear that this, never mind yet-lower prices, wa...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
OPEC VS IEA SUPPLY-DEMAND BALANCE, NOVEMBER 2015 FORECASTS (MN B/D)
... 1Q15 2Q15 3Q15 4Q15 2015 vs 2014 2014 OPEC IE...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Israel Reaches Final Hurdle Before Gas Outline Implementation
...high gas prices. The current stasis was caused when former antitrust commissioner David Gilo ruled that Noble and Delek were operating as a cartel offshore Israel in December last year (MEES, 2 January). This reversed a March 2014 ruling that Noble and Delek would sell off their Karish and Ta...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Egypt: IOC Receivables Fall 5% In Q3, But Still Up On End-2014
...ES, 14 August). However dues are up by $500mn on the end of 2014. Egypt made a series of large payments late last year and at the time pledged to repay its debts to foreign oil and gas firms by the end of 2016. However amid slumping gas output, which slipped to a 10-year low of 4.2bn cfd in Q3 20...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Dana Gas Positive On UAE, Egypt, But Kurdish Receivables A Major Concern
...evious year’s 68,700 boe/d. Declining output from the company’s Nile Delta gas acreage is to blame: production in Egypt fell 21% from 40,500 boe/d in Q3 2014, to 32,144 boe/d, with the company blaming this on natural decline. Indeed Dana Gas share of production in Iraqi Kurdistan actually increased sl...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015