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Benchmark Crude Prices
...Benchmark Crude Prices 2-Apr 23-27 Mar 16-20 Mar Mar-15 Feb-15 Q1 2015 Q4 2014 2014...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Adco Trail Goes Cold Amid Stand-Off With BP, Shell
...% from $26.4bn in 2014 to $23-24bn and reduce its exploration budget by 30%. It saw the Adco concession as an opportunity that was worth the entry cost. It made a commercial offer commensurate with the benefit of locking in long term supplies in one of the most stable countries in the Middle East. It...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Egypt Lays More Foundations For Gas Output Growth
...ount secured in other recent deals (see table), Dea’s latest gas price represents a substantial hike on the $2.50/mn BTU it currently receives for Disouq gas. Output started up in September 2013, and hit current levels in August 2014 (MEES, 29 August 2014). State gas firm, EGAS began renegotiating re...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
EGYPT KEY TO KUWAIT ENERGY’S FORTUNES
...st Ras Qattara permit in the Western Desert in which KEC holds a 49.5% working interest and is operated by Chilean state firm ENAP. Fourth quarter production at East Ras Qattara reached around 25,000 b/d, with four new development wells brought on during the course of 2014. The two wells brought on du...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Iraqi Oil Output Plunges As Pressures Mount
...tra oil has been sold and we are only giving it back to the contractors who had bought it,” Mr Hawrami explained. The dispute over exports intensified in 2014 when the KRG began exporting its crude without federal approval. Mr Hawrami says that even if he accepted Baghdad’s argument that the KRG is...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
IRAQ: KEY OIL DATA (‘000 B/D)
...IRAQ: KEY OIL DATA (‘000 B/D) Feb-15 Jan-15 FebVsJan Dec-14 YTD vs 14 vs 13 2014...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Moroccan LNG: GDF Suez Joins Shell, TAQA
...cember 2014) – enough to fuel 3GW of power generation capacity. The proposed LNG terminal forms part of Morocco’s wider plans to develop gas and power infrastructure worth $4.6bn. In addition to storage facilities, this will involve upgrading two combined cycle power plants of 150MW each, and in...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Fujairah Bolsters Bunkering Credentials
...jairah (MEES, 10 October 2014), which is also a delivery point for the Dolphin Gas pipeline that supplies Qatari gas by pipeline to Abu Dhabi, the UAE’s northern emirates and Oman – with Fujairah the jumping off point for the Omani section of the pipeline (see map, p3). VOPAK EXPANDS Vopak Horizon Fu...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Israel Refiners Ramp Up Throughputs On Back Of Cut-Price KRG Barrels
...rael’s refineries – the 196,000 b/d capacity Bazan plant in Haifa and the 100,000 b/d Paz plant in Ashdod achieved record runs in 2014. Total products output was 295,000 b/d, up by 4.5% from 282,000 b/d in 2013. Bazan output was 192,000 b/d and Paz 103,000 b/d on the back of fourth quarter output that wa...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
ISRAEL OIL PRODUCTS SUPPLY AND DEMAND FIGURES, 2014 (‘000 B/D)
...ISRAEL OIL PRODUCTS SUPPLY AND DEMAND FIGURES, 2014 (‘000 B/D) ‘14 vs ‘13 vs3Q14 vs...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Oman Warns Of ‘Unsustainable’ Products Demand Growth
...ar between 2008 and 2014. Domestic demand stood at 160,000 b/d in 2014, up from 100,000 b/d six years earlier. CAPACITY TO MORE THAN DOUBLE Domestic demand for petroleum products is currently met by Oman’s two refineries at Mina al-Fahal (106,000 b/d) and Sohar (116,000 b/d) – both owned and op...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Oman Awards Salalah-2 BOO Contract To Mitsui/ACWA
...ak demand expected to rise from 470MW in 2014 to 800MW in 2020. Completion of Salalah-2 will take the grid’s generating capacity to 1.02GW (MEES, 11 April 2014). OPWP expects Oman’s total peak electricity demand to rise from 5.88GW in 2014 to 10.24GW in 2020 and is building new generating ca...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Gas Shortages Send Algeria Back To The Steam Age
...ALGERIA Gas Shortages Send Algeria Back To The Steam Age Algeria’s 2014-16 power expansion will need 20 bcm/year of gas – over 25% of current output – pressuring squeezed supplies. For its latest additions Algeria is now looking to steam turbines, less efficient but able to run on li...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Naimi: Please Don’t Let Me Be Misunderstood
...oducers in the US, he added. “These false reports contributed largely to the rapid and precipitous fall in oil prices during the second half of 2014,” Dr Muhanna said, referring to the more than 50% slump in oil prices since June, when Brent Blend crude traded at over $110/B. Mr Naimi again harked ba...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Risk Premium Returns As Saudi Strikes Yemen Rebels, Iran Confrontation Widens
...yadh on 26 March, after the Houthis advanced toward Aden. Saudi Arabia’s military spending in 2014 was ranked third after the US and China, according to the Institute for International Affairs. But the kingdom has traditionally preferred to steer clear of military conflict. During the 1990-91 Gulf Wa...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Yemen: Foreign Operators On High Alert
...5,000 b/d, down two-thirds since 2010, with revenue down even further due to falling prices (MEES, 19 December 2014). Yemen relies on its relatively-meagre oil and gas exports for around 60% of its revenues. Even before the 26 March Saudi-led intervention three foreign oil companies had already re...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Egypt Outlines 2015-16 Budget Guidelines
...dicators have shown some signs of improvement recently, the ministry noted, with GDP growth in the first half of the 2014-15 (July-December 2014) rising to 5.6% from 1.2% in the corresponding period of the previous year, and unemployment falling slightly to 12.9% in December 2014 from 13.4% in June 2014. Th...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Qatar’s Spending Spree Set To Continue
...ojections are prorated on the basis of 3/4 of their estimates in the current fiscal year ending on 31 March 2015. A law was issued earlier in March to extend the current fiscal year which runs from 1 April 2014 to 30 March 2015 by nine months until the end of 2015, instead of announcing a new budget fo...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Oil prices: How Long Can They Stay Low?
...veral years. - By Professor Paul Stevens* Since June 2014, the international price of crude oil has fallen by around 60%. Since the start of this year, Brent has averaged around $54/B. Given that the average price between 2008 and 2013 was $99/B (2013 dollars), this can be viewed as a “low” pr...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 26-Mar 16-20 Mar 9-13 Mar Feb-15 Jan-15 Q4 2014 Q3 2014 2014...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015