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Jordan: Opposition To Israel Gas Deal Strong But Ineffectual
...rged Egyptian gas was cut-off in 2011, its deficits were close to this $700mn figure, reflecting a state subsidy through debt. Despite the economic necessity, domestic politics weigh heavy and a letter of intent with almost identical terms that was signed in September 2014, was canned just over a ye...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Egypt’s Refiners Struggling To Keep Pace With Products Demand
...balance, with imports worth $67bn and exports just $18.5bn in 2015, according to ministry of trade statistics. Tourist revenue and direct foreign investment, the main earners of foreign exchange for Egypt have gradually fallen since the 2011 revolution with a worsening of the security situation in the co...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Iraq’s Tentative Gas Gains Insufficient To Stem Oil Burn Growth
...cessary infrastructure to process the gas, resulting in sky high flaring levels. The percentage flared has increased from 51.1% in 2009 to 69.4% last year. However, the situation is improving, with flaring falling to 63.5% so far this year, on course for the lowest level since 2011 – although the volume fl...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
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 -
Libya Output Continues To Rise In Wake Of Renewed Sirte Basin Production
...pacted Waha capacity. The Hess report implied crude production potential of 270,000-275,000 b/d, in line with the highest quarterly output achieved since 2011 (269,000 b/d for both Q1 and Q2 2013). The consortium had planned to increase capacity on the Waha fields to 500,000-600,000 boe/d by the de...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Korea LNG Buying Falls To Seven-Year Low In Q3
...ngle supplier, providing 45% of total imports in Q3, some 2.75mn tons. This is Qatar’s highest quarterly share on record: despite growing regional LNG supplies, from Australia in particular, Qatar has steadily grown its market share in South Korea since it bottomed out at 22.2% in 2011 (see table). Th...
Volume: 59Issue: 42Published at Fri, 21 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 -
Iraq’s Mosul Offensive Begins Amid Patchwork Coalition
...serves are in territories which were controlled by Kurdish forces even prior to June 2014. ExxonMobil secured production sharing agreements (PSA) from the KRG for six blocks in 2011, including Baeshiqa and al-Qush, which extend into Ninawa’s disputed territory. Secondly the Sunni Arab force trained an...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Kuwait Dissolves Parliament Amidst Subsidy Reform Uproar
...12 2011 bn...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Oman Announces New Bid Round As Record Output Continues
...uts the north-western border with Oman, along with Oxy’s Block 9 and PTT’s relinquished Block 44. Again a tight gas play, the last well was drilled in 2011. The final onshore offering is Block 49, which is on the south-western border with Saudi Arabia. To the east of the block is DNO’s Block 36. DN...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
IMF Praises Iran’s Planned Reforms, But Implementation Is Questionable
...ble). The NDFI, which was established in 2011 to replace an earlier sovereign wealth fund, the Oil Stabilization Fund, is allocated by law a minimum 20% share of annual hydrocarbons revenue, with plans to increase this share gradually each year to a maximum of 30%. However, financial mismanagement and th...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Egypt Reserves Rebound, Currency Takes Further Pounding
...Egypt’s foreign reserves jumped by $3bn to $19.59bn at the end of September – the highest since June 2015 – according to latest figures from the Central Bank of Egypt (CBE). Egypt’s foreign reserves stood at $36bn before the January 2011 revolution, but the political unrest which followed has gr...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016