- Sort by:
- Score
- Published ▼
-
Oman: Oil Price Revival Key To Sustaining Record 1mn b/d Output
.../B for August, down from an average of $57.07/B for the first half of 2015, $96.95/B for 2014, and $105.47 for 2013. The undersecretary’s estimates roughly align with those made by Managing Director of Petroleum Development Oman (PDO) Raoul Restucci earlier this year: around $8/B for primary oil re...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Lebanon To Tap Bond Market For $1.3bn As IMF Warns On Debt Levels
...e political deadlock, EFG Hermes says in a recent report. This inflow was estimated at $7.7bn in 2014, according to the World Bank (MEES, 27 February). The country has been without a head of state since President Michel Sulaiman’s term expired in May 2014, and parliament has been unable to agree on...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
UAE Trims Market-Linked Fuel Prices
...ckling high energy consumption through a conservation campaign begun in 2014. Last week Riyadh told the IMF that it does not intend to adjust energy subsidies until a national public transport system is completed (MEES, 28 August). Kuwaiti finance ministry official Khalifa Hamadah told the Kuwait Ti...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Egypt Cuts Tax Ceiling
...0,000. As part of the same move, Egypt has also suspended for two years a 10% tax on capital gains and abolishes the supplementary tax levied on individual incomes exceeding E£1mn introduced in 2014-15 (MEES, 13 June 2014). The amendment is intended to make the taxation system more progressive and to re...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 46.75 40.79 41.41 42.90 51.15 58.02 48...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Erbil And Baghdad Take Oil Dispute Public, Again
...R says it was assigned responsibility for finding buyers for KRG crude oil and for agreeing with the previous buyers of the KRG’s oil (who had made pre-payments in 2014) to defer their outstanding pre-payments until 2016, to enable the KRG to receive the full $850mn per month during 2015. It was as...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Algeria’s Sonatrach Continues Relentless Battle Against Production Decline
...ALGERIA Algeria’s Sonatrach Continues Relentless Battle Against Production Decline Algeria’s crude and gas output fell for the ninth consecutive year in 2014, the Office of National Statistics (ONS) said in a report this month. The report said, compared with the 5.5% drop recorded in...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
The Only Way Is Down For Algeria’s Trade Balance
...0). Brent - which is of a similar quality and trades within a similar price range to Algeria’s Saharan Blend export grade – has averaged $48/B for August so far, some $9/B or 15% down on the average July price and less than half the average 2014 Saharan Blend price of $99.68/B. MEES analysis ex...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Kuwait Could Push Back Key Projects: Are Downstream Plans At Risk?
...mfortably below $50/B, implying a 49% fall from 2014’s $98bn to $50bn in Kuwait’s oil export revenues if prices remain at similar levels for the remainder of 2015 (see p10). In addition to the slide in prices, the shut-in of 500,000 b/d of shared Saudi/Kuwaiti Neutral Zone output has further hit the co...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Oil Burning In Gulf Countries On Course To Top 2014’s Record
...Oil Burning In Gulf Countries On Course To Top 2014’s Record TOTAL OIL BURN* (‘000 B/D) DIRECT CRUDE BURN: 1H15 DOWN ON YEAR EARLIER BUT JUNE FIGURES SUGGEST RECORD SUMMER (‘000 B/D) SAUDI FUEL OIL CONSUMPTION UP STRONGLY ON YEAR-AGO LEVELS (‘000 B/D)...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Saudi Shrugs Off Calls For Action Over Oil Price, Revenue Collapse
...eir lowest oil revenue in at least a decade (see table). Presuming that prices and output remain at levels seen in first seven months of 2015, this implies that revenue for the year as a whole will be just over $560bn, 42% down on 2014, and less than half 2012’s record level. And even this makes se...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Kuwait Summons Iran Envoy Over Disputed Offshore Gas Field
...st year a senior Saudi oil official told MEES that as far as Riyadh was concerned, based on an extension of the Saudi-Iranian demarcation line to Dorra, Iran has no claim to the field (MEES, 4 July 2014). This prompted a strong response by the Iranians who in turn said it was in fact the Saudis wh...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 42.56 41.41 43.21 51.15 59.86 58.02 48...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Iran: Domestic Companies Seek Assurances Ahead Of Oil Opening
...ntract’s soft-launch in February 2014 — which officials tell MEES will almost certainly form the basis of the final framework — suggest Iran’s domestic firms can take comfort in the knowledge that it has in fact been drawn up with their interests firmly in mind (MEES, 19 June). Specifically, co...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
South Sudan Oil Income Falls, Peace Process Stalls
...nthly earnings of around $28mn. In November 2013, the last full month of South Sudanese production, government oil earnings were more than $200mn. The 2014-15 budget envisaged monthly spending of more than $250mn. Were it not for the fact that South Sudan already knows what it is like to survive wi...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Israel Delays Key Gas Development Vote
...mmissioner David Gilo ruled in December 2014 that Noble and Delek had formed a monopoly offshore Israel. This ruling would have forced Noble and Delek to divest their interests in either Leviathan or Tamar but the government stepped in and effectively usurped Mr Gilo, who has since announced his re...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
UAE’s Upper Zakum On Track For 1mn B/D
...cording to direct monthly submissions to the Opec Secretariat, the UAE has managed to boost overall output beyond 3mn b/d for the first time in July. Output rose to 3.06mn b/d last month from an average 2.794mn b/d in 2014, according to the Opec data. MEES estimates put output somewhat lower at 2.88mn b/d fo...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Turkey Coal Power Boost
...ns/year of lignite fuel. Start-up of the Bolu Göynük plant takes Turkey’s coal-fired capacity to 12.8GW. Coal represents a significant part of Turkey’s generating capacity, which amounted to 67.6GW at the end of 2014, and could potentially increase its share as Ankara seeks to limit its de...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Petroceltic Touts Ain Tsila Progress Amid Shareholder Revolt
...rvices and that Petroceltic allegedly may have awarded contracts, such as the Front End Engineering Design (‘FEED’) contract, on a questionable basis.” The FEED contract went to Chicago Bridge and Iron in September 2014. Mr Stevenson was appointed in January 2013 and is considered key to keeping the pr...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
UAE’s RAK Plans Privately Financed Desalination
...ich is due to start up in 2016 (MEES, 19 December 2014)....
Volume: 58Issue: 34Published at Fri, 21 Aug 2015