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Libya’s New PM Faces Old Problems
...y from the roughly 1.5mn b/d pumped prior to the outbreaks of strikes last July, and puts Tripoli under severe budgetary pressures. The government lost billions in forgone oil revenues last year, and has failed to sign a budget for 2014. Without the funds to invest in the country’s dilapidated in...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Hamad Bin Jasim Returns With $1.6bn Heritage Oil Takeover
...oblems, Heritage gives a broad estimate of 14,500–18,000 b/d for its overall net 2014 production. This includes small volumes in Russia, where the firm has a 95% interest in the Western Siberian Zapadno Chumpasskoye license, its only other producing asset. This produced about 600 b/d in 2013. The firm’s 20...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Saudi 2015-19 Plan Targets 5% Growth
...re 8.35mn b/d, up over 500,000 b/d from the 4Q 2012 figure of 7.83mn b/d. Samba says Saudi growth was 3.8% for 2013 as a whole. It projects a fall to 3.1% in 2014, 2.8% in 2015 and 2.6% in 2016. According to Samba, net foreign assets, which stood at $753bn in 2013, are projected to rise to $83...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D)
...Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D) Vs 1Q ‘13...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 08 May 28 Apr - 2 May 21- 25 Apr Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Noble Bullish On Leviathan Plans
...s a dominant position offshore Israel). 2014 Leviathan Sales, Sanction The next stage for Noble is to secure sales deals for Leviathan. “Over the next 6 months, we will enter into a number of major long-term agreements for Leviathan gas,” Mr Davidson says. This would enable the firm to sa...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Jordan Shortlists Amman Products Terminal Bidders
...rnkey basis during 2014-15 under an engineering, procurement, construction and commissioning (EPCC) contract. The terminal will store 250,000-300,000 tons of white products (gasoline, kerosene, jet fuel and diesel) and 8,000 tons of LPG. It will be built to the east of the capital and will include road ta...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Qatar LNG For Kuwait
...QATAR Qatar LNG For Kuwait Following two years of negotiations, Kuwait Petroleum Corporation (KPC) has finally concluded an agreement to import LNG from Qatargas, though this initial agreement does not extend beyond 2014 – leaving some degree of supply uncertainty over the medium term fo...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
KNPC Moves Al-Zour Forward; Saudi Plants Online By End-14
...e coker is operational. This is a similar process to the Satorp start-up, with both plants configured for Manifa crude (MEES, 18 October 2013). Takreer’s Ruwais Expansion, configured for Murban crude, was intended to start up in February 2014 (MEES, 9 November 2012). Now UAE Minister of Energy Su...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Turkey Taps EBRD For Hydro Cash; Boosts Nuclear, Wind
...peline Project MW Fuel Start-Up Egemer 900 Gas 2014 Kangal 44 Wi...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Tipping Point: China Overtakes Us As Opec’s Largest Crude Customer (Mn B/D Monthly Imports)
...OPEC Tipping Point: China Overtakes Us As Opec’s Largest Crude Customer (Mn B/D Monthly Imports) Chinese Crude Imports, Q1 2014 ('00...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
IMF: Boost For ‘Transition Economies’
...the fund’s ‘Toward New Horizons Arab Economic Transformation Amid Political Transitions,’ warned “2014 is likely to be another year of tepid economic activity” for the region’s oil importers with average economic growth “slightly short of 3%.” Such growth is “inadequate to deal with the fu...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 01 May 21- 25 Apr 14- 17 Apr Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Iran’s New Generation Of Oil Contract ‘Finalized’
...November 2014. A ‘first draft’ of the IPC was unveiled at a conference in Tehran in February, with the aim of getting feedback from both local and foreign experts and companies (MEES, 28 February). Though Iran’s Deputy Oil Minister for International Affairs Ali Majedi recently said “some fe...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Rebels ‘Close In’ On South Sudan Oil Fields
...her ‘producing’ state – Unity – has been offline since the first week of 2014, after rebel forces took control of the fields, and damaged key oil infrastructure. Pre-conflict production was running at around 240,000 b/d. The rebel spokesman said forces were also nearing the Jonglei state capital Bo...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...January 2014, we have been in close dialogue with ministers… In the last couple of weeks we have seen the first indications of any barrier to progress by a negative vote in the Energy Committee, a subcommittee to the Tunisian parliament. PA Resources is not alone in this, and other operators are ex...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...fferent story. In our view, it would require an extra 2-3bn cfd of gas to replace 500,000 b/d of direct crude burning.” During 2014 and 2015 new combined cycle plants will boost fuel oil consumption – demand growth is forecast at 11% in both years – as gas supply remains tight. Overall, FACTS expects fu...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Drilling Boost For Services Firms
...source base.” Schlumberger expects strong activity in northern Iraq to continue throughout 2014. Mr Kibsgaard expects full-year Iraqi revenue level with 2013. Going into 2014, Schlumberger viewed the Middle East, as a “major growth driver” (MEES, 31 January), a prediction more than borne out in the fi...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Kicks Off Phase II Of Subsidy Reform
...pular support for Mr Rohani into the new year. Under the first phase of the plan, which began in December 2010, the cash handouts paid out exceeded the savings from reduced subsidies. This raised the already existing budget deficit. In the year which ended on 20 March 2014, the government paid $18bn in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Libya: Oil Income Slips
...LIBYA Libya: Oil Income Slips Libya’s oil revenue in the first quarter of 2014 was “less than $4bn,” Acting Oil Minister ‘Umar Shakmak says. This implies average oil exports of around 400,000 b/d. The minister is optimistic that production can be quickly raised to 1....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014