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South Sudan Mortgages Future Oil Output
...l sales in South Sudan since independence in July 2011. Between them, the two companies accounted for 11.4mn barrels of the 14mn barrels of crude marketed by the government in the first half of 2015 – more than 80% of the total. PRE-FINANCING PRECEDENT This is not the first time that Tr...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Qatar Out To Woo LNG Customers In Face Of Increased Competition
...clear fleet remained idle in the aftermath of 2011’s Fukushima disaster. It is also Qatar’s top LNG buyer: Japanese utilities took 16.14mn tons of Qatari LNG last year. But Qatar needs to be more agile if it wants to maintain export levels and revenue in the context of new LNG supplies reaching the ma...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Jordan’s Power Strain
...alth and education). But deficits by the National Electric Power Company (Nepco), which are considered sovereign debt and have helped push Jordan’s debt-to-GDP ratio back up to 80%, are off-budget. Nepco has been a major burden for the treasury since 2011, when “Arab Spring” instability brought an...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Syrian Oil Output Shrinks Further; Is An Endgame In Sight?
...eas fell to a mere 9,200 b/d for the third quarter this year, just 2% of the 387,000 b/d the country was producing before the country’s civil war broke out in 2011. Output averaged 9,688 b/d for the first nine months of this year, Syrian Oil Minister Sulaiman al-‘Abbas said this week, figures that im...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Cairo Struggles With Products Shortages
...reign exchange reserves fell to $16.3bn at the end of September, less than half of the $36bn they stood before January 2011 (see graph, p16). This lack of dollars will also make it harder for Egypt to repay international oil companies (IOCs). State oil firm EGPC has had to look for ways to obtain do...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
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 -
SAUDI OFFICIAL CRUDE & OIL PRODUCTS OUTPUT, TRADE & BALANCE (‘000 B/D)
...YTD14 vsYTD13 YTD14 2014 2013 2012 2011 2010 2009 Crude Production 10,265 -96...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Oil & Gas Subsidies Costing Saudi 11% Of GDP, Says IMF
...fined products consumption has grown at an average annual rate of 6.3% since 2011. Products exports could shrivel to zero by 2022, the IMF says. Though recent refinery expansions boosted Saudi Arabia’s refined products exports to a record 1.35mn b/d in August (see p11), if domestic demand continues to...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Iran Unveils Stimulus Package To Boost Growth
...a decade, compared to a high of $119bn in 2011-12. But he is optimistic that Iran is getting ready for growth and an economic blossoming with the changing circumstances in the near future. IMF: REFORM A MUST The IMF says that for Iran to benefit from the landmark nuclear deal and the lifting of...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Egypt: New Central Bank Chief Faces Foreign Currency Crisis
...change shortages (MEES, 16 October). Egypt is currently suffering from an acute shortage of foreign currency reserves, which have fallen to $16.3bn at the end of September, down from $36bn at the beginning of the Egyptian revolution in January 2011 (see graph). After managing to hold the official va...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
China Crude Imports 3q15 (‘000 B/D)
...14 2013 2012 2011 MIDDLE EAST 3,462 3,137 3,479 3,358 -50 -1 3,...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Zueitina Restart Small Sign Of Hope For Libya’s Oil Prospects
...e terminal also provides a route to market for crude from the Nafoora field in the Sirte basin, operated by Libyan state firm Agoco in partnership with the Zueitina consortium. The field, which was producing about 60,000 b/d prior to the outbreak of conflict in 2011, has usually exported via the Ras La...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Morocco’s LNG Plans Pose More Questions Than Answers
...nvention signed with Sonatrach in 2011, Morocco will become the full owner of its section of the GME pipeline in 2021, which is hoped will give it leverage when renegotiating the contract with the Algerian supplier. “We want to diversify our sources,” Mr Gamah says, adding that future LNG supplies, and an on...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq Progresses With Giant Gas-Fired Plant, But Where’s The Fuel?
...ptember). IRAQ CRUDE BURN TOPS 220,000 B/D AS GAS INFRASTRUCTURE FAILS TO KEEP PACE WITH POWER DEMAND IRAQ GAS PRODUCTION (MN CFD) 2009 2010 2011 2012 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Egypt: Desperately Seeking Finance
...serves. These reserves, which stood at some $36bn before the 2011 revolution, have fallen to $16.3bn at the end of September, down $1.8bn from the previous month. Egypt needs $10bn for both 2016 and 2017 to meet its “financing needs”, according to IMF regional director Masood Ahmed. He says that th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Suez Canal Traffic (‘000t)
...13 2012 2011 2010 Petroleum (Crude & Products) 10,541 9,448 8,427 63,079 -6286 -9 +54...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
South Korean Crude Oil & Condensate Imports, ‘000 B/D
...14 2013 2012 2011 2010 Sep-15 Aug-15 Jul-15 MIDDLE EAST 2,229 -51 +10...
Volume: 58Issue: 42Published at Fri, 16 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 -
IMF: Reforms Key If Iran To Benefit From Nuclear Deal
...pital could result in upward pressure on the real exchange rate, Mr Cerisola says. Iranian crude oil production is holding at around 2.9mn b/d, down from around 3.6mn b/d in 2011, before US and EU sanctions on the sale of its oil were introduced. But, the IMF warns that “risks to the outlook are si...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Iran: The Subsidies Dilemma
...rty wanted the other to be identified with the action. Sizable declines in annual receipt from oil exports – from $118bn in 2011 to an estimated $24bn in 2015 – due to drastic declines in oil export volumes (from 2.5mn b/d to 1mn b/d) and oil prices falling (from $108/B to less than $40/B) – ha...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015