- Sort by:
- Score
- Published ▼
-
Israel Refineries Maintain KRG-Fueled Near-Record Runs
...mes on the back of near-100% runs for 2014. Added together with shipping data, this indicates that the two plants are continuing to gorge themselves on cut-price crude from Iraqi Kurdistan. > The KRG has increased its independent crude exports from the Turkish Mediterranean port of Ceyhan to ar...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
UAE Seeks Solar Bidders As Nuclear And Coal Plans Advance
...r the Barakah-1 reactor started in 2012. ENEC has applied for operating licenses for the first two plants (MEES, 3 April). ENEC received government approval in September 2014 to build the third and fourth plants. ENEC recently completed the installation of two steam generators at Barakah-2, wh...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Saudis Ease Off Export Pedal, Boosting Stocks To New High
...D15 vsYTD14 YTD14 2Q15 vs1Q15 vs2Q14 1Q15 2014 2013 2012 Crude Production 10...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Saudi Official Crude & Oil Products Output, Trade & Balance (‘000 B/D)
...15 vs1Q15 vs2Q14 1Q15 2014 2013 2012 Crude Production 10,361 10,564 10,333 10...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Iraqi Political Scene In Tumult Over Regional Intrigues
...tonomy, a hardening which overshadows the current oil export conflict. In December 2014, Baghdad and the KRG negotiated an oil export agreement which had the potential to lead to an end to years of wrangling over Kurdish oil exports which has been harmful to both sides. The initial agreement, passed by th...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Moody’s Assigns Poor Rating For Iraq Bond
...ile the non-oil sector is dominated by the public sector. Manufacturing and construction together accounted for only 10% of GDP in 2014, and services had a share of 37%. More than one-third of this originated from general government services. Iraq also has very weak institutional strength. This is re...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Total Turns The Screw On Spending In New Strategy For $60/B Oil
...ile seeking sustainable operations in a market where it predicts a recovery to $60/B medium term. “Strong discipline on organic capex” is the company’s mantra as it targets a reduction in capital expenditure to $23-24bn in 2015 from a peak of $28bn in 2013 and $26/B in 2014. For 2016 Total will cu...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Kuwait Energy: Egypt Output Hits Record, Yemen Collapses
...at, despite the increase in output over the same period, KEC saw revenue fall by 27% from Q2 2014 to $46.7bn for the second quarter this year. However, revenue was up a touch on Q1’s $44.9mn figure. Kuwait Energy Production (‘000 B/D, Working Interest Basis)...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Aramco And Lanxess Bond For Elastomers JV
...dara and Petro Rabigh-2 will be 295,000 tons/year of elastomers (MEES, 17 October 2014). Aramco recently secured a $10bn standby credit facility from international and local banks to create a ‘war chest’ that would enable it to acquire strategic businesses. For Lanxess the deal provides a we...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
IMF Calls On Kuwait To Cut Spending As Lower Oil Prices Linger
...owed growth in 2014-15 to almost zero, the IMF says. The slide in oil prices to below half year-ago levels saw the emirate post an ‘actual’ budget deficit for the first time since 1999-2000 as crude revenues for the year ending 31 March 2015 fell to KD22.5bn, from KD29.5bn in the previous year. In it...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
US Pledges $400mn Aid To Jordan
...ama and the Jordanian monarch in December 2014. Acknowledging the role of Jordan in accommodating displaced Syrian refugees, the White House announced it will grant Jordan a further $44mn to help with the refugee effort. These pledges come in addition to the $250mn financial package by the World Ba...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 44.91 45.46 44.99 42.90 51.15 58.02 48...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
GCC Fertilizers Capacity Hits 41Mn T/Y, But Feedstock Crunch Awaits
...mpeting technologies may curb their ambitions. GCC fertilizer capacity rose from 20.2mn tons/year in 2004 to 40.9mn t/y in 2014, according to the Gulf Petrochemicals and Chemicals Association (GPCA). Capacity grew by 4% in 2014 alone, according to the GPCA’s freshly-released ‘Fertilizers Indicators 2014...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Iraq Slashes Investment Threatening Oil Output Gains
...te 2014, more or less held from February to May this year, it has since broken down. For July and August the KRG handed over a mere 60,000 b/d to federal marketer Somo at Ceyhan. So while total Iraqi crude exports (including the KRG) have been, at 3.18mn b/d so far this year, within touching di...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Jordan $7bn China Deal To Fund Shale-Burning Power Plant
...rchase agreement. Apco and Nepco agreed on a unit cost of 95 fils/kWh ($0.13/kWh), which compares with an average cost of 170 fils/kWh ($0.24/kWh) from Jordan’s existing power plants (MEES, 18 July 2014). Apco has contracted China’s Guangdong Power Engineering Corporation (GPEC) to build the power pl...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Venezuela Steps Up Campaign To ‘Stabilize’ Oil Prices
...ading at around $49/B as MEES went to press, down from around $65/B three months ago, $99/B 12 months ago, and above $110/B in late-June 2014 (see p20). And Venezuela’s mostly heavy crude typically trades at a big discount to Brent – for August the country’s Opec basket component Merey averaged $35...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
North Africa Security Special Report: Too Late To Roll Back Islamic State?
...ficials, it was the only country in the Middle East and North Africa region not to suffer from terrorism in 2014. The most recent major attack in the kingdom was in April 2011, when 17 people were killed and 25 injured in an explosion at a restaurant on Djema el-Fna, the main square in Morocco’s tourist hu...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Cairo Reshuffle Sees Oil Minister Appointed PM
...64% from E£1.1 ($0.15)/liter. Higher grade 90 Octane gasoline was raised by 41% (MEES, 11 July 2014). This has resulted in spending on oil product subsidies halving to $10.8bn or 9.5% of total spending for the 2014-15 financial year. For the current year it is budgeted to fall further to just 7% of...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Gulf Cash Boosts Balance Of Payments
...re $6.4bn in 2014-15, up from $4.1bn. But the current account deficit increased sharply to $12.2bn in 2014-15 from $2.7bn. A 14% rise in the trade deficit was driven by a 16% fall in exports, whilst imports rose by 1%. The value of oil exports in 2014-15 fell by 30% to $8.7bn, and that of oil im...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Aramco Makes Nasser Permanent Chief, Holds To Integration Strategy
...amco’s oil and gas reserves are at an all-time high. Eight new fields discovered in 2014 increased the kingdom’s total oil and condensate reserves by 900mn barrels to 261.1bn barrels and its gas reserves by 5.6 tcf to 294 tcf (MEES, 13 March 2014). In many ways Mr Nasser inherits a company whose ou...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015