Tunisia Oil & Gas Output Falls To New Record Lows

...*Tunisia’s crude and condensate output fell to a new multi-decade low of 26,400 b/d for 3Q 2024. This is exactly half decade-ago levels (3Q 2014 was 53,000 b/d). Output has been on a consistent downward trend since hitting its 21st century peak of 99,000 b/d in 2007. The all-time high of 11...

Egypt Rig Count At 8-Year High As Western Desert Activity Ramps Up

...e highest since December 2014. However, to date there is little sign of an increase in output. Despite Apache and the Capricorn/Cheiron JV having focused drilling on oil-rich prospects rather than less remunerative gas (MEES, 30 June), the region’s oil output has yet to pick up: the latest figure of 28...

India 2022 LNG Imports: Qatar Volumes Surge To 8-Year High For 52% Market Share

...nce 2014.   *Unlike the key East Asian markets of Japan, China and South Korea, where Australia has in recent years overtaken Qatar as top supplier, Australia is nowhere in terms of Indian market share with a mere 0.44mn tons (2.1% market share) for 2022.   *India paid an average of $16...

Saudi Foreign Reserves Edge Up Over April

...art).   *Nevertheless, sizeable increases are on the cards, with Minister of Finance Muhammad al-Jadaan telling the Financial Times last month that surplus oil revenues will be used to replenish reserves.   *After peaking at $737bn in August 2014, foreign reserves tumbled when oil prices crashed in th...

Italy 2021 Crude Imports: Libya Volumes At 9-Year High

...so the lowest since 2014. But add in not only the bumper Libya volumes but Algeria supplies which more than doubled to 29,500 b/d and total Mena volumes rose to a three-year high 46% share.   ITALY’S TOP CRUDE SUPPLIERS: AZERBAIJAN KEEPS TOP SPOT FOR 2021 AS LIBYA SURGES TO 9-YEAR HIGH (‘00...

India LNG Imports: Qatar Dominant As Buying Dips Amid Sky-High Prices

....16/mn BTU that India paid for Q4 supplies was the highest quarterly figure since 2014, it is well below the average price paid by other Asian importers. India’s average December import price of $13.66/mn BTU compares to $14.85/mn BTU for Japan and $19.50/mn BTU for China. This indicates that Indian im...

Saudi & Egypt Drilling Activity Picks Up

...udi, Iraq and the UAE had seen drilling at near-record levels prior to the early-2020 ‘Covid’ slump, the Egypt market has been depressed since oil prices headed south in 2014-15. But key oil producer Apache as well as smaller players have signaled an investment rebound on higher prices and improved te...

Asian LNG: Spot Prices Still At Record Levels, Term Prices Continue To Climb

...ese are also edging higher. Korean importers paid an average of $13.31/mn BTU for October imports, the highest since March 2015, whilst the $12.36/mn BTU paid by Taiwan was the highest since December 2014.   *The key element in Asian LNG pricing formulas is crude prices, and back in 2014 crude pr...

Asian LNG Prices ($/mn btu): Spot Prices Soar To Over $30/mn btu, Average Chinese Price Highest Since 2014

China LNG Imports Soar, Prices At 7-Year High

...s well above Korea’s $11.36/mn BTU and China’s highest monthly price since 2014....

LNG Prices Soar Yet Higher As Taiwan Enjoys ‘Qatar Discount’

...*Asian spot LNG prices have soared to $17/mn BTU as per the latest Reuters assessments. Values for the recently-completed September trading window averaged $15.50/mn BTU. Excepting an acute spike at the start of this year, the latest values are the highest since early 2014.   *“Most of...

India LNG Imports Soar To Snag Top Spot For Qatar & Abu Dhabi

...tar remains well ahead in India, with a 39.5% market share for 2020. However, Qatar’s market share has fallen for each of the past seven years: the record 11.9mn tons Qatar supplied in 2014 gave it a market share of over 85%.   *But Qatar isn’t the only Mideast producer for which India is the ke...

India Crude Imports: Long Covid

...r the first 11 months of 2020 as a whole crude imports averaged 3.81mn b/d, down 13.6% year-on-year, and the lowest figure since 2014.   *The latest official data for November shows India’s top suppliers continuing to turn in lacklustre performances. Number one Iraq with 821,000 b/d and nu...

Oil Investment Collapse Risks Future Shortfall-IEA

...pes out the modest increases in spending since the 2016 nadir, it leaves expected 2020 spending at a mere 42% of 2014’s peak outlay. And this is in nominal terms – in real terms the fall is much larger. *Unlike the 2015-16 spending slump, when the effect of capex cuts was mitigated by falling up...

Korea LNG Imports: Strong Q1 But Downturn Coming?

...ar.   *For Q1 as a whole, imports of 12.49mn tons are the third highest quarterly figure on record behind Q1 in 2018 and 2014. But, though overall volumes were up 20% year-on-year, Qatar continues to see its market share slump. Qatar Q1 supplies at 2.78mn tons were down 23% year on year, with Qatar’s 22...

Asian LNG Prices ($/Mn Btu): Have Spot Prices Bottomed Out?

...JAPAN SPOT PRICES FALL TO RECORD LOW^, QATAR SALES TO KOREA STILL EARNED THREE TIMES THE SPOT PRICE IN FEBRUARY BUT TERM PRICES ARE SET TO TUMBLE IN LINE WITH OIL *AVERAGE OF REUTERS WEEKLY ASSESSMENTS FOR THE DELIVERY MONTH IN QUESTION. ^SINCE ASSESSMENTS BEGAN IN MARCH 2014. ALL DA...

China LNG Imports (Mn Tons): Qatar Volumes And Share Fall In 9m 2019 With Australia Pulling Away As Top Supplier

...PPLIER WITH 9M19 VOLUMES UP 29% Y-O-Y, THOUGH Q3 SAW THE FIRST QUARTERLY DIP SINCE 2017   QATAR, NUMBER ONE TO 2014, RISKS LOSING EVEN SECOND SPOT. 9M VOLUMES OF 5.7MN T ARE DOWN 13%, WITH MALAYSIA (1.87MN T) AHEAD IN Q3...

Majors Plan Cautious Hike To 2019 Capex

...ILL LITTLE MORE THAN HALF 2014 LEVELS ($BN)   EXXON, HAVING OVERTAKEN SHELL AS TOP SPENDER FOR 2018 PLANS THE BIGGEST BOOST TO SPENDING FOR 2019 ($BN) B=BUDGET. *SHELL GIVES $25-30BN RANGE FOR 2019, BP $15-16BN AND TOTAL $16-17BN. CHARTS ASSUME MIDPOINT OF RANGES. SHELL FIGURES IN...

OPEC’S Ever-Receding Global Oil Market Dominance

....6mn b/d including NGLs) in 2017 to 44.8% by 2040. Seemingly good news for Opec. But then the IEA’s 2014 WEO predicted Opec’s market share rising to 49.2% by 2040. The number has been cut every year since. • These cuts come despite additions to Opec membership which helped boost the organization’s ba...

South Korea 1H18 LNG Imports: Qatar Volumes Up %20 Year-On-Year, Share Up To 32%

...LUMES SINCE 2014; US RISES TO #3 WITH RECORD 2.29MN T   DELAYED PLANT START-UPS MEAN AUSTRALIA’S RAPID GROWTH IN MARKET SHARE IN RECENT YEARS WENT INTO REVERSE: BOTH QATAR AND THE US GAINED AT AUSTRALIA’S EXPENSE IN 1H18 (% OF IMPORTS)...