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Korea Crude Imports 6-Year Low, Taiwan Lowest In Decades
...65mn b/d (see table, p8). For Taiwan, Q3 imports of just 701,000 b/d were further down on the multi-decade low of 721,000 b/d set the previous quarter (see table). At 760,000 b/d for the first nine months of 2020, volumes are on track to come in below 2011’s 774,000 b/d as the lowest annual figure this mi...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Japan: UAE Overtakes Saudi As Number One Supplier
...*For well over a decade Saudi Arabia had been the unrivalled number one crude and condensate supplier to Japan. Saudi market share climbed above 30% in 2011 and rose steadily to hit 40% in 2017, dipping only modestly to 38.1% for 2018. The UAE (almost all Abu Dhabi) was a distant number two fo...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Opec Output Slumps As Ecuador Quits
...oduction in late 2018 (MEES, 7 December 2018). Libyan output too has risen by 170,000 b/d, but the country is one of two members exempt from production restrictions as it seeks to return a semblance of stability to the country following the 2011 revolution and subsequent civil war. Output jumped 70...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Suez Canal Trade Hits Records But Trade War Threatens
...%) and 543,000 b/d gasoline (up 36%) head north through the canal (see charts 1 & 2). This puts both on track to smash annual records – for diesel last year’s 445,000 b/d was a record; for gasoline the record of 499,000 b/d dates back to 2011. Combined northbound products volumes, which only fi...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Libya Looks To BP/Eni Deal To Unlock Upstream Investment
...oduction workers have almost all been Libyans. Violence surrounding Libya’s February 2011 uprising, which led to Qadhafi’s overthrow in October that year, prompted all IOCs to quit the country. Output rapidly rebounded in 2012, briefly hitting pre-war levels of 1.5mn b/d in early 2013. But a much to...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Saudi ‘Demonstrates Leadership’ by Keeping Crude Exports Low
...ptember). As a result, Saudi Arabia is on course to export around 6.7mn b/d on average in Q3, its lowest quarterly figure since Q1 2011. Some of the deepest cuts have been felt by the US. US crude imports from Saudi in October fell to 666,000 b/d, the lowest in almost 30 years (MEES, 20 October). They ap...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Iraq Invites Bids for 12 Fields in First Offering Since 2012
...al between Kerbala province and UK-independent San Leon in March 2011, outside of the auspices of the Ministry of Oil, which maintained that provinces cannot unilaterally sign deals with IOCs. The joint participation agreement was for San Leon and local partner Al-Meinaa to develop the fields under a pr...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Saudi Oil Exports Fall Amid Record Products Demand & Oil Burn
...urth consecutive month of net gasoline exports, a feat not achieved since November 2011. Saudi Arabia is on track to be a net gasoline exporter for the first time since 2011. SAUDI OIL EXPORTS REMAIN AT NEAR RECORD LEVELS (MN B/D) SAUDI PRODUCTS EXPORTS DOWN SLIGHTLY FROM 1H16 RE...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Saudi Product Exports At Record High; Crude Volumes Crimped
...D15 vsYTD14 vsYTD13 YTD14 2014 2013 2012 2011 2010 2009 Crude Production 10...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
OPEC Production Slips In September Despite Iraqi, Gulf Increments
...iling, in place since December 2011. Production from the group’s top producer Saudi Arabia stayed high at 10.24mn b/d in September, though this was down from 10.31mn b/d in August, as domestic demand continues to weaken from its summer peak. Saudi output has fallen month-on-month since June, when it hi...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Oil Exporters To Feel Impact Of Lower Prices For Years To Come: Imf
...gher productivity growth.” The unpredictable and volatile nature of commodity prices has been well documented. And the last 15 years has been no exception: The first 10 years of the 2000s saw a gradual increase in commodity prices from record lows in the mid-1990s to record highs by 2011, only to fa...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Neutral Zone: Saudi Arabia Steamrolls Kuwait, Cuts Oil Output
...udi Arabian oil exports have already fallen to their lowest in three years, while August exports of 6.683mn b/d were at their lowest since March 2011, according to the latest data published by the Joint Oil Data Initiative (JODI). Crucial Test Riyadh’s action may yet prove to be a crucial test fo...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Saudi Arabia Takes On Oil Market Bears
...counting for roughly one third of the group’s total output, Saudi Arabia has often acted without waiting for a formal agreement by all 12 members of OPEC. It ramped up production to make up for the loss of more than 1mn b/d of Libyan oil at the start of the revolution in the North African state in 2011, an...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
IEA, OPEC See Deeper Cuts In 2014 Call On OPEC
...t average oil output for the group at 30.05mn b/d in September, down close to 400,000 b/d from August levels – leaving it just 50,000 b/d off the 30mn b/d production ceiling agreed on in December 2011. OPEC members are set to meet in Vienna in December this year. But despite crude oil pr...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...December 2011. Saudi Arabia too cut back production in September, from a 33-year high of 10.2mn b/d posted for the previous month. Initial MEES estimates put total supply from the producer group at 30.04mn b/d, down significantly from an upwardly revised 30.83mn b/d in August. The 80...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...OPEC OPEC Output At Near Two Year Low In September On Iraqi Outages OPEC oil production fell to its lowest level in almost two years in September, as further declines from Libya and Iraq brought the producer group close to its 30mn b/d output target, agreed in December 2011...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Decision On New OPEC Chief Postponed
...neral. OPEC Crude Oil Production October 2011 – October 2012 (MEES Estimates – ‘000 B/D) 2012 2011 Oct Sep Aug Ju...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
IEA Predicts Bleaker Days Ahead For OPEC
...% of incremen-tal global liquids supply of 9.3mn b/d through to 2017, only second to North America’s 40% (largely from oil sands or tight oil). And for OPEC, Iraq is likely to be still more significant, supplying over 50% of a projected 3.34mn b/d increase for 2011-17. The MTOMR confirms findings of...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Aramco Sees Energy Paradigm Shift
...ogram (MEES, 28 November 2011). But the problem was “misleading hype” about how quickly renewables could make an impact. “As a result there have been a lot of disappointments,” he noted. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012