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BP Start-Up Of 1Bn Cfd Khazzan Field Gives 20% Boost To Oman Gas
...15 2015 2014 2013 Industry 15.94 -0.02 15.96 23...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria: Prices Up, Volumes Down, Projects Delayed
...16 2015 2014 Export Revenue 23.51 +4.10 +21.1 19...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Iraq Plots Post-War Refining Rebound
...start of the Haditha refinery and reported progress on repair work at three other refineries damaged during the occupation by Islamic State (IS) of a swathe of northern and western Iraq from early 2014. This year Iraqi forces and their allies have driven IS out of most of their formerly-controled Ir...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Russia Extends Lead Over Saudi In China As Overall Imports Fall
...their lowest level since early 2014. Indeed for five of the last six months, including August (977,000 b/d), rival Opec producer Angola has bested Saudi for second place. But not only are Chinese imports from Saudi Arabia down in August, those from Russia and overall import volumes are also do...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
KRG’s Troubled Waters
...0 B/D) 2017* vs 2016* 2014 2015 Tawke 111.0 3....
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria’s Risky ‘Cash Creation’ Plan: From One Pocket To The Other
...ree years. Algeria’s hydrocarbon-dependent economy has been hit hard by the collapse in oil prices since the second half of 2014; its hydrocarbons revenue fell to just $27.1bn last year from $71.4bn in 2011, though recent oil price rises mean it may just avoid a third straight $10bn-plus trade de...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Oil Addiction Deepens Despite Ambitious Reform Drive
...s despite average annual oil prices nearly halving against 2014. Saudi Arabia’s trade surplus was decimated accordingly (see table). More than a year after Vision 2030 was launched, very little has changed. Non-oil exports account for less than 25% of the total and after falling in value for the la...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Egypt: Economy Looking Up But Long Road Ahead
...ggest an annual figure of around $7bn based on normal seasonal trends – still below 2015 levels but almost double last year and still above 2013 and 2014 (see chart 3). FOREIGN RESERVES RIDING HIGH Aid from the IMF, the World Bank and other donors, as well as capital inflows from various sources ha...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Crude Exports At 3-Year Low: Oil Burn Peaks Amid Opec Curbs
...Saudi Arabia’s crude exports are at their lowest level since August 2014 as the kingdom deals with the double-whammy of increased summer demand and reduced output in accordance with last November’s Opec agreement. Saudi Arabia’s oil burn hit 1.39mn b/d in July, the highest figure on re...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Technical Service Contract Woes Continue To Haunt Iraq
...revising downwards the contractual production plateau targets for fields, but the essential TSC format remains unchanged (MEES, 12 June 2015). This series of alterations in 2014-15 brought the implied total 2020 target from key IOC fields down from 11mn b/d in 2009 to 7mn b/d. It fell further ea...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Egypt Outlines Suez Downstream Plan, Canal Expansion Begins To Pay Off
...re the highest income since the $482mn earned in October 2015, although still 8% short of the record $510mn revenues of August 2014. The earnings rally is largely attributable to increased crude and products volumes transiting the canal. Northwards products volumes in particular are being boosted by...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
What Embargo? Qatar Products Exports Hit Two-Year High
...tari oil exports rose to 1.09mn b/d, the highest figure since November 2014. Despite the products gains, July hydrocarbon export revenues were $4.18bn, down from $4.54bn in May prior to the blockade. The reason appears to be that Qatar handed discounts to buyers as reassurance. Certainly the ec...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Rosneft Plans Key Gas Pipeline To Unlock Kurdish Exports to Turkey
...xt two years? Previous plans have stalled. Under a 2013 Gas Sales Agreement the KRG agreed to export 4bcm/y to Turkey by this year, rising to 10bcm/y by 2020, and eventually up to 20bcm/y (MEES, 11 April 2014). Development of key gas fields has slipped due to a number of reasons, chief among them pa...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Bahrain Taps Debt Market For Record $3bn
...17, gross foreign exchange reserves stood at $1.7bn, down from nearly $6.0bn at the end of 2014. This implies less than one month of current account payment coverage,” S&P said at the time. Although latest figures show this rebounding to $2.5bn at end-April. Fitch assigns Bahrain the highest ra...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
East Med: Hope Despite Dry Cyprus Well, Lebanon Bid Round Deadline Delayed
...economic, especially since the oil price collapse in 2014 and the accompanying lower gas prices. By far the most active firm offshore Cyprus is Eni. The Italians have stakes in six of the seven blocks currently awarded, and are operator in four. In early August Eni said it would drill three wells ac...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
War-Torn Yemen Maintains Steady Crude Exports; China, Thailand The Key Buyers
...scale, renewed crude exports are providing an essential influx of revenue and liquidity to the embattled regime. Prior to the onset of the civil war between Houthi rebels and government forces in 2015, hydrocarbons provided 73% of export revenues according to IMF figures. Crude exports in 2014 re...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Oman Looks To Bid Round For Exploration Boost
...ndered blocks appear less prospective. Block 43b was last operated by Hungary’s Mol which relinquished the 11,967km² block in 2014. A conventional gas play, previous owners combined have drilled only two wells with no discoveries. In Block 47, also mostly bordering open blocks, tight gas is expected to be...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
UAE Looks To Offshore Gas To Ease Growing LNG Addiction
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Rig Count: Saudi Cuts Oil Drilling To 3-Year Low
...• Opec kingpin Saudi Arabia saw its rig count fall to a 30-month low of 115 in August; those targeting oil fell by four to 60, the lowest level since May 2014 (see chart 1). Saudi Arabia claims it is pressing ahead with ambitious long term plans to develop new output capacity, but the rig co...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Algeria Plots Unlikely Power Capacity Boost Whilst Rejecting Foreign Funding
...utarfa said Sonelgaz had spent $5.5bn in 2015 and $5.6bn in 2014. Algiers was forced to increase power sector investment after blackouts in 2012 triggered violent protests. Sonelgaz hiked generating capacity by 2.8GW ahead of 2013 summer demand, by speeding the completion of two large power plants and de...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017