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Saudi Aramco’s Mu’ajjiz Port Development Enhances Flexibility
...ipped to the facility. The most economic option would likely be to pipe crude to the west coast and then ship it south to Jazan. This appears to be the strategy. Aramco’s 2014 annual review said that redevelopment of Mu’ajjiz will “accommodate the increased volumes of fuel oil and supplies of Ar...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Iraqi Coffers Reap Reward Of Higher Oil Prices
...low 2014’s $30.2bn. Revenues for April were up 37% year-on-year at $4.6bn and were higher than every month in 2016 except December. Although they slipped slightly from March’s $4.8bn, this was effectively due to the shorter month, as daily revenues averaged $154mn in both March and April. Oil re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...ound 50% of its output most years. But prices of Omani LNG to South Korea fell some 37% last year to just $7.38/mn BTU, more than $10/mn BTU below 2014 levels. Little wonder that revenues fell nearly $700mn last year to its lowest level since 2004. The LNG revenue fall exacerbated the squeeze on go...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
What’s Next For Sonatrach Sales Deals?
...rtfolio. The recent rebound in volumes comes after weaker demand in Italy following the 2008 financial crisis. Italian imports of Algerian gas fell from a peak of 25.2 bcm in 2010, to 11.9 bcm in 2013 and 6.8 bcm in 2014, following a ‘holiday deal’ between Sonatrach and Eni to reduce offtake due to lower It...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Algeria’s 2016 Gas Export & Output Records – Are They Believable?
...DICATED) 2016 vs 2015 2010 2011 2012 2013 2014 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Iran LNG Plans Hamstrung By Domestic Demand, Lack Of Foreign Cash
...located 32bcm to reinjection in 2014. Of course in 2014 (and 2011, 2012 and 2015) demand for sanctions-hit Iran’s crude was low enough that Iran could afford to slash reinjection and still have enough oil to meet demand. The corollary is that last year as post-sanctions Iran sought to ramp up crude output to...
Volume: 60Issue: 12Published at Fri, 24 Mar 2017 -
Algeria’s LNG Sales Shrink Further, Piped Gas Jumps 49%
...ruck in 2013 and 2014 between Sonatrach and Eni to reduce deliveries due to weaker demand in Italy (MEES, 16 December 2016). Flows through the Transmed pipeline that runs to Mazara del Vallo in Italy via Tunisia almost tripled from 7.2bcm in 2015 to 18.9bcm in 2016. The deal ended in 2015 and was fo...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
LNG: Growing Mideast Demand Key To Absorbing Rising Global Supply
...T) *ALL FROM TRINIDAD & TOBAGO SINCE 2014. SOURCE: CEDIGAZ LNG SERVICE, GIIGNL, SHELL, MEES CALCULATIONS. EGYPT IS TOP MENA BUYER: VOLUMES MORE THAN DOUBLED TO 6.3MN TONS, 60% FROM QATAR KUWAIT IMPORTS: QATAR SUPPLIED JUST OVER HALF 2016 VOLUMES BY SUPPLIER: QA...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Egypt Secures 2017 LNG Needs
...additional 12 cargoes put the total number of cargoes signed up since November at 117. TRADERS TO THE FORE Egypt’s state gas firm EGAS has launched a slew of LNG import tenders since 2014, with trading houses and large oil firms signing up to supply 301 LNG cargoes - including 245 cu...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
LNG: Australia Soars Past Qatar As #1 In East Asia
...ina for cargoes imported in December, the most recent month for which comprehensive data are available, averaged a fraction over $7/mn BTU, less than half 2014 levels. MORE AUSSIE LNG COMING With substantial additional Australian volumes now set to hit the market over the coming months the ex...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Suez Canal Handles Record Gulf Crude, Diesel But Revenues Down In 2016
...RGETING EUROPE 4: NORTHBOUND DIESEL VOLUMES BROKE ALL FOUR QUARTERLY RECORDS IN 2016 (‘000 B/D) SOURCE: SUEZ CANAL AUTHORITY, MEES. 5: SUEZ CANAL MONTHLY REVENUE ($MN): DOWN 8% ON 2014 DESPITE 2015’s EXPANSION SOURCE: SUEZ CANAL AUTHORITY, REUTERS, ME...
Volume: 60Issue: 03Published at Fri, 20 Jan 2017 -
Sharara Restart Pushes Libyan Output Close To 700,000 b/d
...er 60,000 b/d. The terminal was loading close to 9mn barrels a month (nearly 300,000 b/d) when it was last operational in late 2014. As yet there has been no confirmation that the Elephant field has begun production as NOC claims. Sharara operated with limited losses for three years from late 20...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...uto 2012 4.3 Woodside Curtis Island - T1 2014 4.3 BG/CN...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Qatar Readies For LNG Dogfight With Rasgas/Qatargas Merger
...clear accident sent Japan’s LNG imports to record levels) until the late-2014 collapse in oil prices. Typical LNG sales contracts are heavily oil-linked, though this linkage is eroding (see p7). But flagging demand and some LNG global supply growth since 2014 has weighed on prices, and reduced sellers’ ma...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Eni Forces Sonatrach Gas Sales Concessions
...2014 when it agreed to include spot market gas prices rather than oil indexation in contracts with the Italian company. This took place in the context of changing patterns in the European market, caused by increased liquidity and competition and reduced demand following the 2008 financial crisis. Eu...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Sonatrach ‘In Talks’ For Gas-Based Petchems
...tput often ends up doing little more than making up for declines at the country’s aging workhorse fields – the IEA’s latest WEO pegs Algeria’s 2020 gas output at 84bcm/year, up only marginally on 2014’s 83bcm. First among these aging fields is Hassi R’Mel, where the award to JGC is just the latest in...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
US Hikes 2017 Output Forecast As Firms Prepare To Raise Spending
...ude, having risen above 9mn b/d for the first time in 28 years in September 2014, fell back below this level in April this year on the back of a more than halving in oil prices. While the 9.63mn b/d April 2015 peak is set to stand for some time yet, by the same token it looks increasingly likely th...
Volume: 59Issue: 49Published at Fri, 09 Dec 2016 -
Traders Clean Up In Egypt LNG Import Tender
...lk of those with 25 (see table). Netherlands based Trafigura will supply 18 cargoes while BB Energy, Gunvor and Vitol will supply the rest. Egypt’s first LNG supply deal was signed with Algeria’s state gas firm Sonatrach in December 2014 (MEES, 27 February 2015) for the supply of six cargoes wh...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Suez Canal Sees Record Northbound Oil Shipments
...tal cargo shipped is up 9%. SUEZ CANAL MONTHLY REVENUE ($MN): DOWN 8% ON 2014 DESPITE LAST YEAR’S EXPANSION SOURCE: SUEZ CANAL AUTHORITY. NORTHBOUND OIL SHIPMENTS SOAR The key area where the Suez Canal has seen transit volumes rise has been in northbound oil shipments. Saudi Ar...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...elled power generation. One 600MW reactor at Chinshan has been out of action since the end of 2014 due to technical problems. But the government’s anti-nuclear policy means it is unlikely to come back online with the plant approaching the end of its life in 2018. Technical issues also led to the cl...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016