- Sort by:
- Score
- Published ▼
-
Egypt Scraps Plan To End Energy Subsidies
...e time of last year’s announcement – says that the government now plans to keep subsidies at 30% of their July 2014 values indefinitely. Speaking in Cairo this week, Mr Isma’il said that circumstances have changed with lower global oil prices and the discovery by Eni of the massive 30 tcf Zohr of...
Volume: 58Issue: 51Published at Fri, 18 Dec 2015 -
Saudi, UAE, Oman Hit Drilling Records But US Rig Count Free-Fall Continues
...ta, languishing at just 737, less than half the September 2014 high of 1,931. US crude production has also declined, albeit more slowly. Latest EIA data indicate output of 9.17mn b/d for November, some 350,000 b/d down on April’s 9.53mn b/d peak, and almost exactly level with a year earlier (MEES, 4 De...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Dolphin Splashes On Debt, Stranded By Gas Impasse
...taled just over 6mn tons in 2014 (8.2bn m3 or 790mn cfd of gas), via a Floating Storage and Regasification Unit (FSRU) in Dubai (MEES, 30 October). Domestic production is expanding, with production at the Shah Gas field ramping up in Q3 2015 towards its 500mn cfd target (MEES, 9 October). However, de...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Bahrain LNG Plans
...s supply limits (MEES, 23 May 2014). Bahrain produced around 1.63bn cfd of gas in 2014, according to the BP Statistical Review. About one-third is burned in power plants. Bahrain aims to expand its associated gas production. Energy Minister ‘Abd al-Husain ‘Ali Mirza this week said he would soon aw...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Saudi State Generator Taps $3bn Korean Funding, Eyes Large ISCC Project
...ectricity demand.” Saudi power demand has risen by 7-8%/year in recent years, Mr Shiha notes, adding that the kingdom’s peak electricity demand in 2015 surged to a new record of 62.2GW, which was about 6GW higher than the peak demand level of 2014. GLOBAL RECORD This year’s peak demand growth of ov...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
OPEC’S $570 Billion Non-Decision
...an, which is more typical of Opec’s core Gulf members’ crude exports, fell to just $35/B on 10 December. Opec members can now expect to take in a mere $514bn in collective revenue for 2015, down by a whopping 47% or $451bn on 2014 (see tables). This is despite output having risen in the meantime (se...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Opec Production Rises Further As Opposing Camps Go Their Own Way
...Opec production edged upwards in November, reaching an average of 31.82mn b/d, up 30,000 b/d from October. While this is more than was averaged in any month in 2014, it barely sneaks into the top four for 2015, underlining the extent to which Opec producers continue to pump as quickly as they ca...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
South Sudan Oil Output Hike Remains A Distant Prospect
...the conflict. The IMF’s December 2014 Article IV Consultation put oil revenue at 95% of government revenue and around 50% of total GDP in the previous year. PRODUCTION RISES ALWAYS JUST ROUND THE CORNER For more than a year, the government has adhered to a narrative in which an up...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Russian Allegations Bring Renewed Focus On Islamic State Oil Smuggling
...arterly statements.” ILLICIT OIL AND GAS SALES The United States Deputy Secretary of State Anthony Blinken said at the Atlantic Council Energy and Economic Summit on 20 November that the group receives around $1mn a day from illicit oil and gas sales, down from around $2mn a day in 2014. Ms Ou...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
No Quick Fix To Turkey’s Energy Security Concerns
...The rapid deterioration in Russia-Turkey relations since Ankara’s 24 November downing of a Russian fighter jet on the Syrian border highlights the importance of energy security for Ankara. Russian volumes of 27.33 bcm accounted for more than half of Turkey’s gas imports in 2014 and the ab...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Iraq: Abadi Faces New Crisis As Anti-Turkey Protest Looms
...rrorism in a November 2014 press conference he held in Baghdad with Turkish PM Ahmet Davutoglu. Mr Abadi’s refusal over the course of this year to arm, or in any way, support Mr Nujaifi’s camps in Kurdish-controlled northern Nineveh suggests that he never endorsed Turkey’s intervention in the form it has ta...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Oman Starts Qualification For Three New Desalination Plants
...line in 2017-19 and will take Oman’s desalination capacity under development to 970,000 m3/d. OPWP expects Oman’s peak water demand to rise from 934,000 m3/d in 2014 to 1.34mn m3/d in 2020. Oman’s current desalination capacity is 740,000 m3/d. OPWP has awarded Singapore’s Hyflux and local firm Mo...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Kuwait Mulls Subsidy Reforms As Oil Price Collapse Hurts
...ll require legal changes, would be tackled at a later date. Subsidies cost Kuwait about KD3.7bn ($12.2bn), or 7.6% of GDP in 2014, of which petroleum product subsidies account for 35% (see table). Kuwaiti pre-tax gasoline and diesel prices are respectively 66% and 41% below US prices. They are al...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Opec Opens Its Arms To A Net Importer
...Indonesia will be formally welcomed back into Opec on 1 January, having suspended its membership in 2009. Crude production is currently around 800,000 b/d, but with domestic consumption at 1.6mn b/d according to BP figures in 2014, it is a net importer of around 800,000 b/d. Plans for the Ba...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Kuwait: Does Ministerial Shake-Up Indicate A Firm Stance?
...nuary 2014. He becomes Kuwait’s fourth oil minister in less than three years. However, the revolving door at the ministry has little impact on policy, which is set by the Supreme Petroleum Council (SPC). It does however underline Kuwait’s continued political volatility – a deterrent for IOCs. That said, th...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Iran Launches New Contracts Ahead Of Opec Meet
...ximize recovery rates at fields (MEES, 13 November). The much-delayed launch of the IPC finally materialized on 28-29 November in Tehran. Initially planned to be launched in London in April 2014, the process has been inextricably linked to the nuclear negotiations with the P5+1, which were extended on...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
KRG: More Payments Needed To Unlock Investment
...4mn/month for July-September, far below the $1bn monthly payments the KRG had been expecting to receive from the Iraqi federal government under a December 2014 agreement. Federal payments peaked at $432mn in March. So far this year the KRG has received a total of $1.987bn from Baghdad for oil exports ac...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Iraq Chalks Up Record Exports But Revenue Less Than Half Mid-2014 Level
...e KRG, were boosted from a backlog in loading from a storm-hit October schedule (MEES, 6 November). But, despite this, the month’s export revenue of $3.67bn is just 47.5% of the $7.74bn that Iraq’s oil exports brought in in July 2014 before oil prices collapsed. Average November takings were ju...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Rabigh 2 Joins Petchems Start-Up Queue, Saudi Capacity Surge Nears
...dara said the unit would need rebuilding, although a SR113.4mn ($30.2mn) insurance claim will cover the rebuilding cost. UAE’s Borouge 3 polyolefins plant started up in 2014, but has still not reached full capacity because of ethane feedstock constraints (MEES, 5 June). The company now expects to re...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Paris Climate Talks: How To Measure Success?
...e globe. Market-related mechanisms would give visibility to investors and private businesses, but there remain strong disparities partly due to fossil fuel subsidies. The IEA estimates global fossil fuels subsidies at around $490bn in 2014, five times the amount that would need to be raised to ad...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015