OPEC Output Continues Rise As African Volumes Recover

...rlier forecasts of 30.7mn and 30.5mn b/d for the third and fourth quarters of 2014 respectively. For 2015, the world demand for OPEC crude is forecast at 29.9mn b/d, down from 30mn b/d for full-year 2014. Libya: Rebound Continues Last month saw the return of 100,000 b/d of Libyan crude to ma...

Algeria Budgets For Higher Spending In 2015

...onomic action” program. GDP growth for 2014 is expected to come at around 4.5%.  At the cabinet meeting President Abdelaziz Bouteflika said that the state’s efforts to boost growth through government spending should be supported by a stronger contribution to the productive sectors, as well as to the di...

Syria Eyes Iran For More Aid

...ria’s oil production from government controlled fields has fallen in the first half of 2014 to around 4.4% of its pre-war level of 385,000 b/d. IS alone is reported to control up to 60% of Syria’s oil output from the captured fields; although, whilst IS is producing and exporting crude (and selling vo...

IMF Releases $217Mn For Tunisia

...ansition with the advent of elections in the last quarter of 2014,” but he warns the economic situation remains difficult, with timid growth, high unemployment, and rising external imbalances which are piling pressure on the exchange rate and reserves. “Program implementation is strong” with “all qu...

The Elusive Costs And Benefits Of Saudization

...atistics and Information (CDSI, August 2014) puts Saudi Arabia’s total residents at 30 million at the end of 2013, 20.3 million of whom are Saudi citizens. These numbers indicate an expat community of 9.7 million, a figure far below that which could be inferred from MoL data on non-Saudi workers. This in...

United States Crude Oil Imports, 1h 2014 (‘000 B/D)

...United States Crude Oil Imports, 1h 2014 (‘000 B/D)           1H14 Vs 2013   1H14 Vs 20...

Benchmark Crude Prices ($/B)

...Benchmark Crude Prices ($/B)   4-Sep 25 - 29 Aug 18 - 22 Aug Aug-14 Jul-14 Q2 2014 Q1 2014 20...

Iran Mulls Offering South Pars To IOCs As Opening Delayed

...l firms is intricately tied to the fate of ongoing talks between Iran and the P5+1 group of world powers over its nuclear program. Nuclear talks were due to have ended on 22 July, hence the roadshow scheduled for the second half (and originally the first half) of 2014. But, with a deal not re...

The US Shale Gas Revolution: A Threat To Gulf LPG Exporters

...r 2014 and 2015 will see US LPG exports to Japan increase. Korean firms are negotiating contracts to import LPG as well. Threat To Pricing The basis of US LPG prices differs entirely with that of Gulf LPG exports, a dynamic that will put pressure on margins of Gulf sales into Asia. Saudi Ar...

Israel Refineries Hit Throughput Record, Diesel Exports Boom

...ISRAEL Israel’s refinery output hit a record 291,000 b/d for the first half of 2014, up 16,000 b/d on a year earlier as the country’s second largest plant in Ashdod completed a significant upgrade. Exports, especially of diesel, are rising even faster. Israel  has been rapidly sh...

GTL Back On The Radar For Mideast Downstream Planners

...oposed         Iran Sarv/IDRO GTL Pilot, Saveh †1 2014 Iran RIPI Qeshm GTL, Qeshm Island 3 20...

GCC ‘Spat’ Takes On New Dimension

...ar from September 2014. Egypt will reimburse the UAE over four years at an interest rate of 2-3% with a year-long grace period, according to the daily. This will follow the expiration of Saudi oil product aid in August. Saudi Arabia, Kuwait and the UAE rushed to provide $12bn in grants and loans to...

Saudi Arabia Advances Stock Market Opening

...rket participants – can criticize the regulatory framework and suggest modifications. This framework is therefore likely to be amended in light of the feedback the CMA receives in the three-month period ending on 20 November 2014. The CMA regulations published on its website on 21 August stipulate th...

Rohani One Year On: A Glass Half Full Or Half Empty?

...IRAN By-Jahangir Amuzegar* 1 August 2014 marks the first anniversary of Hojatol-Islam Hassan Rohani’s accession to the Islamic Republic’s presidency. A mid-level Shiite cleric having an advanced degree in theology from a Scottish university, Mr Rohani defeated his five non-turbaned ri...

Chinese Crude Imports, January-July 2014 (‘000 B/D)

Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, 1h 2014 (‘000 B/D)

Benchmark Crude Prices ($/B)

...OIL PRICES     28-Aug 18 - 22 Aug 11 - 15 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 20...

Algeria Delays Bid Round Once Again

...secure foreign investment in its upstream. Algeria: Blocks On Offer In 2014 Bid Round...

South Sudan Oil Sector Takes Hit With Exxon Exit

...rm-in agreement as of April 2014,” Total said in a 19 August statement e-mailed to MEES, without going into further detail. ExxonMobil declined to comment, though the ongoing conflict – and the lack of clear prospects for a solution – could go a long way towards explaining the company’s decision. Re...

DRPIC Tenders Duqm Refinery Site Prep

...rk tender is expected to be followed by prequalification for an engineering, procurement and construction (EPC) contract for the refinery in third quarter 2014. DRPIC appointed Shaw Group as project management consultant for the 230,000 b/d refinery in August 2012. The US contractor’s energy and ch...