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Total Reaps Mena Rewards Despite Iran Setback
...estion is whether Total would consider taking another gamble on Iran should the politics change in the medium-term. Iran is just the latest Middle East gas setback that Total has suffered in recent years. Having recorded net 218mn cfd from Syria in 2011 through its 50% stake in the Deir Az Zour Pe...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi Crude Exports At 7-Year Low, Outweighing Products Gains
...aq is boosting southern exports by 200,000 b/d to mitigate (MEES, 3 November). SAUDI CRUDE SHIPMENTS SINK Saudi crude exports of 6.55mn b/d in September were the lowest since March 2011, marking a continuation of a trend which has seen volumes slip for three continuous quarters – the first su...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
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 -
After The Hype, OPEC Meeting Ends With A Whimper
...one. Leaky Ceiling The collective ceiling has been in place since 2011 but has been leaky with members consistently failing to comply with their individual allocations. Monthly surveys of OPEC’s production by MEES show that the group has overproduced the ceiling since June, despite erratic pr...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...finery processing gains, grew by more than 4mn b/d from January 2011 to July 2014, of which 3mn b/d was crude oil production growth, the EIA says. During the same period, unplanned supply disruptions grew by 2.8mn b/d, it adds. Supply disruptions averaged 3.2mn b/d in the first seven months of 2014 and pe...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...ropean Union imposed a series of economic and oil sanctions against Tehran starting in 2011 over its controversial nuclear program. Since then Iran’s oil exports have fallen below 1mn b/d from around 2.5mn b/d before the EU ban on imports of Iranian crude came into effect in mid-2012. According to MEES es...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...oduction at an average of 500,000 b/d in October, up approximately 150,000 b/d on September. This increase came despite renewed protests at the country’s main oil fields and terminals. Facing the worst disruption to its oil industry since the 2011 civil war, Libya appeared to have turned a corner in la...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Supply Challenge Still Alive Despite Shale Surge
...deed, domestic energy demand within the GCC is growing at an annual 5% and in 2011 stood at 200mn tons of oil equivalent. That number is expected to double in the next decade, said a senior Gulf banker. Saudi Arabia consumes 2.8mn b/d during peak consumption periods and has recently taken to su...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Washington Likely To Maintain Global Energy Policy Commitment
...sessing the impact of an expected 1.25mn b/d drop in OPEC crude demand next quarter (see table). An upward revision to the view on OPEC NGLs and non-conventional supply dating back to 2011 prompted a downward revision to the MOMR’s projection for OPEC crude demand. This Call on OPEC is projected to...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
OPEC Role Steady Amid Rapid Change In IEA Outlook
...erage IEA crude oil import price approaches $125/B (in year 2011 dollars) by 2035. The study’s Current Policies scenario assumes the implementation of no policies adopted after mid-2012, while the 450 Scenario (MEES, 14 November 2011) assumes policy action to limit the long term global temperature in...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Shale Revolution, Slowing Demand Growth Cut Into Call On OPEC
...0bn for required additions and around $750bn for maintenance and replacement. Taking into account estimated midstream investments of “close to $1 trillion” the WOO sees global oil-related investment requirements 2011-35 “somewhere in the range of $6 to $7 trillion”.While precise growth in North Am...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012