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Egypt Partners Up With Kuwait Energy For First Foreign Exploration Venture
...mand turn the country into a net energy importer from an energy exporter (see p7). The deal leaves Egypt with a 10% stake in the license in southern Iraq. KEC, which operates Block 9 with 60%, reported its second discovery on the asset in December 2014, this time in the Yamama formation which te...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Sabic Links Up With 40 Firms In Tech Initiative
...llows on from Sabic’s development of a global network of technology and innovation centers. In 2014, Sabic opened a similar center in South Korea focusing on electronics, electrical and lighting technologies. Sabic says it has oriented its business around seven core market segments: transportation, ag...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Qatar Planning $35Bn US Investments
...isse and other big-name European industry and financial institutions. Under Shaikh Hamad, QIA was seen as a foreign policy tool to boost Qatar’s influence and prestige (MEES, 7 November 2014). But the diversification towards the US coincides with some unconfirmed reports that QIA is undergoing some ki...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Iraqi Kurdistan Eyes New Oil Deal With Baghdad
...dependence in selling its oil. He also called for the establishment of a productive economic system in the province that could generate non-oil revenues. An agreement signed by the KRG and the Iraqi federal government in December 2014 which had the potential to lead to an end to years of wrangling over Ku...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
US Data: Crude Production Falling, Though NGLs Show No Sign Of Decline (‘000 B/D)
...D15 vsYTD14 vsYTD13 2Q15 1Q15 4Q14 3Q14 2014 2013 CRUDE OIL IMPORTS 7,331 7,...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 44.74 45.63 45.46 45.44 42.90 46.62 58...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Oil Prices In Euros And Roubles (OPEC Basket, June 2014 =100)
...Oil Prices In Euros And Roubles (OPEC Basket, June 2014 =100) ...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Increasing Fuel Supplies Top Of New Egyptian Oil Minister’s Agenda
...nd, the Suez Canal expansion and the follow-through on pledges made during the Economic Development Conference in March (MEES, 17 April). Egypt also returned to international markets with the issuance of a $1.5bn Eurobond, while growth has “rebounded to 4.2% in 2014-15, and inflation has de...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
SEC/Aramco Eyes Cogen Supply For Fadhili Gas Plant
...shore fields including 500,000 b/d Khursaniyah, which is already in production, as well as offshore fields. The processing plant will handle 2.5bn cfd of gas and is expected to come onstream in 2019, according to Aramco’s 2014 annual report. SEC says the cogeneration plant will reach full commercial op...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Iran, Oman Sign Gas Export Pipeline Contracts, Eye 2018 Start-Up
...art of gas exports to the gas-hungry sultanate by early-2018. Mr Kameli said the project would involve the laying of 400km of pipeline, of which approximately half would be subsea. This is up from earlier estimates of 260km given early last year (MEES, 14 March 2014). The line would roughly ex...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Urgency Of Peace In South Sudan Undermined By Persistent Divisions
...ternational prices, and a dwindling share of output means that South Sudan’s crude oil income has collapsed beyond all recognition. In November 2013, the last full month of South Sudanese production, government oil earnings were more than $200mn, while the 2014-15 budget envisaged monthly spending of more th...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Middle East LNG Demand Impetus Takes Market By Surprise
...7mn tons in 2014. But this year, new importers Jordan, Egypt and Pakistan have been added to the picture: the three countries received about 1mn tons of LNG in the second quarter of the year to meet seasonal demand, according to data from the French international association for gas, Cedigaz. That in...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Bapco, Aramco Award Pipeline Contracts
...hrain’s Awali field, along with Saudi volumes. The plant delivered an average 276,000 b/d of refined products in 2014, according to the Joint Organizations Data Initiative (JODI). Completion of the pipeline will enable Bapco to deliver extra oil to Sitra, where it intends to expand crude processing ca...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Iraqi Kurdistan To Shake Up Shadow Refining Sector
...rket demand for crude was about 250,000 b/d in 2014. Genel says the Kalak and Bazian refineries typically require about 120,000 b/d and local traders comprise an additional ‘swing’ consumption of up to about 120,000 b/d for use in topping plants and for regional sales. Genel’s 250,000 b/d estimate fo...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
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