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DEWA Urges Consumers To ‘Think Smart’ Under New Electricity Strategy
...an doubled from 2004 to 2014, from 3.23GW to 7.23GW. In 2014 peak demand was 9.7% higher than the 6.86GW in 2013. DEWA’s current generating capacity is 9.66GW, but peak demand could exceed this level in four years’ time at last year’s growth rate, if no capacity is added. Hence DEWA will build 2....
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Saudi Top Oil Brass On China Charm Offensive
...inese imports have continued to rise, meaning that the Saudi market share has fallen from a peak of 21% in 2009 to 16% for 2014 and Q1 2015. China is Saudi Arabia’s second largest customer, after Japan which took 1.22mn b/d in Q1 (see table p18 and graph p19). The US, in top position until mid-2014, ha...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Damascus Cash Crunch As Crude Below 10,000 B/D
...oduction of 385,000 b/d before the start of the uprising in March 2011. However, if the government figures are to be believed, output is actually up slightly on the 2014 average of 9,330 b/d, while the average for the first quarter of 2014 stood at 13,000 b/d (MEES, 9 May 2014). Gas production has fa...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Gaza Aid Falters
...construction has barely started at the besieged coastal enclave. At the Cairo conference a total of $5.6bn was pledged (MEES, 17 October 2014): of this $3.5bn was earmarked for Gaza (the rest was for general Palestinian government support), and a mere $945mn has been delivered. The report notes that while so...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Chevron ‘On Verge Of Quitting’ Neutral Zone
...port for 2014 that it may not be able to sustain production from Wafra at current levels. Failure to resolve the problems might force the company to wind down its operations, a senior Saudi source told MEES recently (MEES, 3 April). Chevron’s onshore fields in the Neutral Zone are the US company’s on...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Medco Gets Another 25 Years At Oman’s Karim Fields
...e back of more than 12 months of negotiations (MEES, 7 March 2014), and will kick in at the conclusion of the original agreement next year. Under the terms of the deal, Medco commits to investing $120mn/year for the first five years of the contract period (2016-2021). This could then rise to $13...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iranian Officials Highlight Scourge Of Corruption
...2014 to 12.3% in 2015 and 13.2% in 2016, according to the IMF’s April 2015 World Economic Outlook. The speaker of the Iranian parliament Ali Larijani said this week that 42% of Iranian university graduates are unemployed. ...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Jordan Taps IMF Funds
...versification efforts, will ease pressure on Jordan’s public finances and help contain the current account deficit. Also lower oil prices will help to boost Jordan’s growth prospects. But the switch to imported oil from cheaper Egyptian gas (disrupted since 2012, and reduced to a trickle of only 30mn cfd in 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iraq: Q1 Exports Hit 2.7mn B/D But Still Way Off 3.3mn B/D 2015 Target (‘000 B/D)
...b-15 Jan-15 2014 2013 2012 2011 2010 CRUDE OUTPUT: Federal* 3,064 -42 -77 3,...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Japanese Crude Oil Imports: Seasonal Trends Continue As Saudi Volumes Hit Record (‘000 B/D)
...14 2Q14 Mar-15 vsFeb15 Feb-15 Jan-15 2014 rank 2013 2012 MIDDLE EAST 2,...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 30-Apr 20-24 Apr 13-17 Apr Mar-15 Feb-15 Q1 2015 Q4 2014 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
JAPAN Q1 OIL IMPORTS: DOWN 11% ON 1Q14 BUT SAUDI AT NEAR-RECORD 1.4MN B/D IN MARCH
...JAPAN Q1 OIL IMPORTS: DOWN 11% ON 1Q14 BUT SAUDI AT NEAR-RECORD 1.4MN B/D IN MARCH (‘000 B/D) 1Q15 rank vs1Q14 vs1Q13 4Q14 3Q14 2Q14 Mar-15 vsFeb15 Feb-15 Jan-15 2014...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iraq Out Of Pocket As It Boosts Oil Payments To IOCs
...d a larger stake for BP and its partner, Chinese state firm CNPC. The Iraqi oil ministry has admitted to difficulties in paying the companies, which it says are still owed $9bn in arrears for 2014. It has to raise an additional $18bn this year to pay the IOCs at a time when its own revenues are fa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
UAE: South Koreans Hope To Expand Presence Through Adco
...e so-called legacy partners. Total, BP, Shell and ExxonMobil each held a 9.5% stake in the former Adco concession, which expired at the start of 2014. Adnoc decided to open the playing field to a wider selection of potential players in an effort to bring in more of its main crude oil buyers, pa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
BP: Khazzan Unaffected By Oil Price Slump
...cade (bar 2014, when output fell 1% versus 2013), Oman continues to face a gas shortage as demand growth, driven by the country’s numerous gas-hungry enhanced oil recovery projects, continues to outstrip supply, also having implications for LNG exports (see p10 and MEES, 17 April). PHASE 1: EN...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Italy’s Enel May Exit Algeria’s Upstream
...€2bn and already in execution, and another €2bn worth of assets already identified. The remaining €1bn will consist of extra assets that will be pinned down in the next years. Enel is a key Italian importer of Algerian gas. However volumes have slumped from 25 bcm for 2010 to a mere 6.7 bcm for 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Kuwait Finds New Oil At Home As It Goes Shopping In Tunisia
...ture upstream assets, successful exploration acreage as well as mid- and downstream assets. ENI TUNISIA OUTPUT 2009 2010 2011 2012 2013 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Egypt Cancels Summer In Bid To Avoid Power Cuts
...ate gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Egypt plans to install a second FSRU at Ain Sukhna from July, but as yet no announcement has been made regarding the supplier. The ministry has since December finalized deals to import 76 LNG ca...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
EGYPT OFFICIAL JAN-FEB 2015 CRUDE & OIL PRODUCTS OUTPUT & DEMAND (‘000 B/D)
...EGYPT OFFICIAL JAN-FEB 2015 CRUDE & OIL PRODUCTS OUTPUT & DEMAND (‘000 B/D) Feb-15 Jan-15 Dec-14 J-F-15 vsJ-F-14 vs2014 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Oman’s LNG Strategy Hinges On New Supplies, Production
...OMAN Oman’s LNG Strategy Hinges On New Supplies, Production Oman has a tough future as an LNG exporter. Lower prices and growing domestic demand mean volumes and revenues both fell for 2014, and are set to fall further. Oman’s LNG exports were lower than expected in 2014 amid gr...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015