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Vitol Eyes Hub Role For Cyprus Products Storage Terminal
...receive middle distillates, such as kerosene and diesel from the Middle East to Europe via the Suez Canal. Traffic through the canal has risen in 2014, reaching a record of 13.7mn tons in August (see table, p9). The terminal will also facilitate the movement of gasoline from Europe to the East Me...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Suez Canal September revenue Dips Following Record august
...ns) all reaching new highs. · Southbound shipments of fuel oil rose in September to hit a record 3.3mn tons after reaching 2.8mn tons in August. Suez Canal Traffic, 3Q 2014 (‘000t) Sep-14 Aug-14 Ju...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Viennese Waltz Becomes A Two-Step
...ices remain at or near current levels for the rest of 2014, the average price of the OPEC basket of crudes for the year as a whole will be around $100/B, meaning that, at least for this year there will be few budgetary problems. He appears not to be thinking of Iran, whose current financial year runs un...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Iraq Faces Up To Export Undershoot
...IRAQ Iraq Faces Up To Export Undershoot Iraq’s cabinet is struggling to finalize a 2014 budget, a task complicated by an ever widening gap between revenue and expenditure. Spending has overshot draft estimates because of the current crisis, while oil exports and revenues have fa...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Russia Denies Syria $1bn
...lf of 2014, according to government sources – a mere 4.4% of 385,000 b/d pre-war oil output (MEES, 3 October). The Syrian government now issues a weekly list of prices of subsidized petroleum products, including diesel, heating oil and gasoline, to regulate the market in the light of changing su...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Countries Face Up To Falling Oil Prices
...the Gulf countries, expansion into foreign markets and boosting competitiveness. GCC countries’ overall current account surplus could plunge to about $100bn in 2015 from $275bn in 2014 if oil prices hold at about $80/B, IMF Regional Director Masood Ahmed told Bloomberg this week. MENA Oil Ex...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Saudi Arabia: More Refining, More Burn, Less Exports (% Share Of Crude Production)
...lumes, at almost 600,000 b/d, are up 130,000 b/d on the same period last year. The total oil burn, including fuel oil, was 940,000 b/d for January-August 2014, up almost 190,000 b/d on the January-August 2013 figure, which was in itself a record....
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Benchmark Crude Prices ($/B)
...OIL PRICES 30-Oct 20-24 Oct 13-17 Oct Sep-14 Aug-14 Q3 2014 Q2 2014 2013 20...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
China Seeks Bigger Role In Oil Pricing
...formation Agency (EIA) said in a March 2014 report that China overtook the US to become the largest net importer of crude oil and other liquids in the world in September 2013. It also pointed out the 31% rise in US indigenous oil production, mainly from tight oil plays, between 2011 and 2014, compared with ex...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Tunisia: Election Time In The Arab Spring’s Sole Survivor
...their lot since the end of the Ben Ali regime. Unemployment has even increased since the revolution, standing at 15.2% in the first quarter of 2014, up from 13% at the time of Mr Bouazizi’s self-immolation. “Without social development, I don’t think the democracy could survive,” said Mr Fe...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Egypt Announces Ambitious Macroeconomic Policy Targets
...EGYPT Egypt Announces Ambitious Macroeconomic Policy Targets The Egyptian government is targeting a real GDP growth rate of 6% by mid-2019 – compared to 2.2% in 2013-14 and to a projected 3.5% in 2014-15 – according to a medium-term macroeconomic policy framework for the period 2014...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Lebanese Economy Resilient Despite External Shocks
...P in 2014. The Central Bank of Lebanon keeps substantial foreign assets of some $47bn which help to maintain confidence in the system – $35bn in foreign currencies and $11.9bn in gold. These reserves, together with foreign direct investment and expatriates’ remittances, provide an important bu...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Morocco Budget Cuts Subsidies
...MOROCCO Morocco Budget Cuts Subsidies Pursuing its declared policy of reducing the cost of state subsidies, Morocco has announced that its 2015 draft budget will see a 34% cut in subsidies to MD23bn ($2.7bn) from MD35bn in 2014 and MD42bn in 2013. Having peaked in 2012, Morocco be...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, August 2014 (‘000 B/D)
...Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, August 2014 (‘000 B/D) Aug-14 vs July 14 vs Aug 13 Jul-14 Jun-14 YT...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 23-Oct 13-17 Oct 6-10 Oct Sep-14 Aug-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Iraq’s Cash-Strapped Kurds Gear Up For Kirkuk Export Boost
...the 2014 federal budget, which has yet to be presented to parliament and is being delayed further by the ongoing dispute and is likely to see a wider deficit than forecast when it was first drafted. ...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale A Threat To Mideast Condensate, Despite Oil Price Slide
...duce the firm’s exposure to political instability. Japan’s Gulf^ Condensate Imports (‘000 B/D) 2011 2012 2013 *2014 Qatar 15...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale Vulnerability To Falling Oil Prices
...0 B/D) 2012 2014 2016 2018 2020 Eagle Ford 300 875 1048 1058 1201 Fi...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
UAE Sees Balanced 2015 Budget Despite Oil Price Fall
...UAE The UAE on 12 October approved its 2015 federal budget. The budget is balanced, with both spending and revenue projected to increase by 6.3% to Dh49.1bn ($13.4bn at the fixed $1=Dh3.6725 exchange rate) from Dh46.2bn in 2014. With inflation projected at 2.5% in 2015 by the IMF, the net in...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Saudi Products Imports Slump
...nture Satorp refinery ramped up towards full capacity – which it is expected to reach by year end. Gasoline imports fell from 23,000 b/d in January-August 2013 to zero for the first eight months of 2014; gasoil volumes fell to a mere 4,000 b/d. The 400,000 b/d Aramco/Sinopec Yasref refinery at Yanbu on...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014