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Egypt Cuts Deficit On Back Of Gulf Cash, But More To Do
...EGYPT Egypt Cuts Deficit On Back Of Gulf Cash, But More To Do Egypt cut its budget deficit to 12.8% of GDP for the year to June 2014. This is down from 13.7% for 2012-13, though still well up on 9.8% for 2010-11. Though the deficit rose in nominal terms to E£255.4bn from E£239.8bn the pr...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Oil Prices: Uncertainties, Confusion And Conspiracy
...REGIONAL/SAUDI ARABIA Oil Prices: Uncertainties, Confusion And Conspiracy OPEC’s ‘need’ to maintain $100/B-plus sowed the seeds of recent oil price falls. What happens next? By-Paul Stevens* Oil prices have been falling. From 2011 to June 2014 the OPEC basket consistently av...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Japanese Crude Oil & Condensate Imports, Q3 2014 (‘000 B/D)
...Japanese Crude Oil & Condensate Imports, Q3 2014 (‘000 B/D) 3Q Vs 2Q14 3Q Vs 3Q13 Jan-Se...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 13-Nov 3-7 Nov 27-31 Oct Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Iraq Says OPEC ‘Price War’ Partly To Blame For Revenue Fall, $84Bn Deficit
...velopment Fund for Iraq (DFI), which is held in New York and contains receipts from oil exports, in order to finance what he says is runaway spending that is not matched by revenues. Speaking to a special session of the cabinet on 3 November to discuss the 2014 budget, which has yet to be submitted to pa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Saudi Arabia’s Major Gas Development Stalls
...arter, maintains a completion date of end 2014 for Wasit, which will be one of the biggest non-associated gas plants in the kingdom. Its integrated facilities will process 2.6bn cfd of non-associated gas from the offshore Arabiyah and Hasbah fields. Under normal conditions, it will provide 1.7bn cfd of sa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Egypt Plans Suez Refinery Asphalt, Diesel Expansion
...phalt – this is included in ‘other products’, for which first half 2014 production averaged 22,000 b/d and demand averaged 23,000 b/d. The Suez unit will be one of a number of new diesel sources. A key project is the Egyptian Refining Company (ERC) hydrocracker being built beside the 160,000 b/d st...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Turkey Backs Gas, Renewables; May Take Nuclear ‘In-House’
...4Q15. The Turkish Wind Energy Association says installed wind capacity amounted to 3.58GW at the end of September 2014. This was 926MW or almost 35% higher than at the end of August 2013. Wind capacity now accounts for more than 5% of Turkey’s power capacity. The association predicts Turkey’s wi...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
OPEC Outages Calm Nerves Ahead Of Crucial Late-November Meeting
...udi Arabia to the Joint Data Initiative (JODI) database, it exported 1mn b/d of refined product in August. Figures for September and October are not yet available. OPEC Well-Head Production, October 2014 (Mn B/D, MEES Estimates) Oct ‘14 Se...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...ar. According to provisional estimates by MEES, imports of Saudi crude in the first 10 months of 2014 averaged 1.22mn b/d, down 60,000 b/d over the same period of 2013, while Saudi Arabia’s share of US imports has edged higher in recent years (see graph). The displacement of light sweet crude oil im...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Jordan Looks To Slash Deficit In 2015 Budget
...2014, according to the draft budget which was approved by the cabinet at the end of October. Domestic revenue (other than grants) is projected to rise by 10% to JD6.28bn ($8.855bn). With inflation projected at 2.4% in the 2015 budget, spending is slated to rise by less than 1% in real te...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Yemen Oil Take Slumps
...ee jailed prisoners. The value of oil exports in the first eight months of 2014 fell by 33% to $1.216bn from $1.811bn in the same period of 2013, the Central Bank of Yemen (CBY) said in its latest Monthly Statistical Bulletin. The CBY blames the fall in revenue on sabotage attacks on oil ex...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Chinese Crude Imports January-September 2014 (‘000 B/D)
...Chinese Crude Imports January-September 2014 (‘000 B/D) Sep-14 Aug-14 Jul-14 3Q14 2Q14 1Q14 YTD14 % of...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
US Imports: Gulf Looks To Keep Share Of Shrinking Pie
...US Imports: Gulf Looks To Keep Share Of Shrinking Pie • US crude oil imports fell to 7.36mn b/d for the first eight months of 2014, 400,000 b/d down on the same period last year and 1.4mn b/d down on January-August 2012. 2014 imports are on track to be the lowest since 1995. • The vo...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 6-Nov 27-31 Oct 20-24 Oct Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Dana Plays Hardball With The KRG
...escent Petroleum, its largest shareholder, and maintain payments till the case runs its course. The ruling sets a precedent for foreign contractors in the Kurdish region, many of whom are yet to be paid their costs after Baghdad cut off federal funds. With Iraq’s 2014 federal budget still to be approved (se...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
East Med Gas Development: Pipeline Politics Drive Floating Solutions
...peline to Greece -1,536 Fail *5tcf Gas, Mar 2014 Lng Prices. ^Net Present Value. Source: Sapienta Economics. The industry consensus is that with a slew of LNG projects set to come onstream in the coming years – in Australia, Mozambique and po...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Leviathan Go-Ahead Awaits Egypt Deal
...al: DEFA (Natural Gas Public Company)^ Cyprus n/a^ 10-Jul 4.2-10 0.15-0.35 0.6-1 58-97 *Implied Average Volumes. ^Tender Closes November 2014...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Vitol Eyes Hub Role For Cyprus Products Storage Terminal
...receive middle distillates, such as kerosene and diesel from the Middle East to Europe via the Suez Canal. Traffic through the canal has risen in 2014, reaching a record of 13.7mn tons in August (see table, p9). The terminal will also facilitate the movement of gasoline from Europe to the East Me...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Suez Canal September revenue Dips Following Record august
...ns) all reaching new highs. · Southbound shipments of fuel oil rose in September to hit a record 3.3mn tons after reaching 2.8mn tons in August. Suez Canal Traffic, 3Q 2014 (‘000t) Sep-14 Aug-14 Ju...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014