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UAE Says Oil Price Will Not Impact Expansion
...ergy. Emirates LNG ‘’We expect to develop new gas fields and launch new projects to import LNG. These projects include the awarding of a contract for the Emirates LNG project in Fujairah by the end of 2014 or early 2015,” he told national news agency WAM in an interview on 9 November. The pr...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
UAE Keeps Oil Majors Guessing On Onshore Renewal
...pan’s Jan-Sep 2014 Oil Imports (‘000 B/D) Japan Oil Imports From Abu Dhabi (‘000 B/D) Japan too has a strong hand. The UAE is the second largest exporter of crude to Japan after Saudi Arabia (see below and p26) and Japan already has upstream stakes in the UAE, both of them in of...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
IEA: LNG To Maintain Steady Share Of Interregional Gas Trade Through 2040
...INTERNATIONAL IEA: LNG To Maintain Steady Share Of Interregional Gas Trade Through 2040 Global gas supply and demand dynamics will be closely monitored by LNG suppliers, including Qatar. In its World Energy Outlook 2014, the International Energy Agency (IEA) says that it expects Ja...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Mideast Refining Surge To Continue Through 2040
...om 8.5% to 12.2%, while OPEC sees a hike from 8.1% to 11.5% (see Table 1). The IEA’s World Energy Outlook (WEO) 2014 envisages Middle East refinery throughputs rising from 6.6mn b/d in 2013 to 8.5mn b/d in 2020 and 10.6mn b/d in 2040. OPEC’s World Oil Outlook (WOO) 2014 (MEES, 7 November), sees ru...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
OPEC To RECLAIM Market Share in 2020s, IEA Says
...plications for upstream plans across the globe, but especially in areas where price levels are critical for certain projects – namely North America and Brazil. “According to our estimates, if oil prices remain at these levels, the capital spending in 2015 in the US will decline up to 10% compared to 2014...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Egypt Cuts Deficit On Back Of Gulf Cash, But More To Do
...EGYPT Egypt Cuts Deficit On Back Of Gulf Cash, But More To Do Egypt cut its budget deficit to 12.8% of GDP for the year to June 2014. This is down from 13.7% for 2012-13, though still well up on 9.8% for 2010-11. Though the deficit rose in nominal terms to E£255.4bn from E£239.8bn the pr...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Oil Prices: Uncertainties, Confusion And Conspiracy
...REGIONAL/SAUDI ARABIA Oil Prices: Uncertainties, Confusion And Conspiracy OPEC’s ‘need’ to maintain $100/B-plus sowed the seeds of recent oil price falls. What happens next? By-Paul Stevens* Oil prices have been falling. From 2011 to June 2014 the OPEC basket consistently av...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Japanese Crude Oil & Condensate Imports, Q3 2014 (‘000 B/D)
...Japanese Crude Oil & Condensate Imports, Q3 2014 (‘000 B/D) 3Q Vs 2Q14 3Q Vs 3Q13 Jan-Se...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 13-Nov 3-7 Nov 27-31 Oct Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Iraq Says OPEC ‘Price War’ Partly To Blame For Revenue Fall, $84Bn Deficit
...velopment Fund for Iraq (DFI), which is held in New York and contains receipts from oil exports, in order to finance what he says is runaway spending that is not matched by revenues. Speaking to a special session of the cabinet on 3 November to discuss the 2014 budget, which has yet to be submitted to pa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Saudi Arabia’s Major Gas Development Stalls
...arter, maintains a completion date of end 2014 for Wasit, which will be one of the biggest non-associated gas plants in the kingdom. Its integrated facilities will process 2.6bn cfd of non-associated gas from the offshore Arabiyah and Hasbah fields. Under normal conditions, it will provide 1.7bn cfd of sa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Egypt Plans Suez Refinery Asphalt, Diesel Expansion
...phalt – this is included in ‘other products’, for which first half 2014 production averaged 22,000 b/d and demand averaged 23,000 b/d. The Suez unit will be one of a number of new diesel sources. A key project is the Egyptian Refining Company (ERC) hydrocracker being built beside the 160,000 b/d st...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Turkey Backs Gas, Renewables; May Take Nuclear ‘In-House’
...4Q15. The Turkish Wind Energy Association says installed wind capacity amounted to 3.58GW at the end of September 2014. This was 926MW or almost 35% higher than at the end of August 2013. Wind capacity now accounts for more than 5% of Turkey’s power capacity. The association predicts Turkey’s wi...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
OPEC Outages Calm Nerves Ahead Of Crucial Late-November Meeting
...udi Arabia to the Joint Data Initiative (JODI) database, it exported 1mn b/d of refined product in August. Figures for September and October are not yet available. OPEC Well-Head Production, October 2014 (Mn B/D, MEES Estimates) Oct ‘14 Se...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...ar. According to provisional estimates by MEES, imports of Saudi crude in the first 10 months of 2014 averaged 1.22mn b/d, down 60,000 b/d over the same period of 2013, while Saudi Arabia’s share of US imports has edged higher in recent years (see graph). The displacement of light sweet crude oil im...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Jordan Looks To Slash Deficit In 2015 Budget
...2014, according to the draft budget which was approved by the cabinet at the end of October. Domestic revenue (other than grants) is projected to rise by 10% to JD6.28bn ($8.855bn). With inflation projected at 2.4% in the 2015 budget, spending is slated to rise by less than 1% in real te...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Yemen Oil Take Slumps
...ee jailed prisoners. The value of oil exports in the first eight months of 2014 fell by 33% to $1.216bn from $1.811bn in the same period of 2013, the Central Bank of Yemen (CBY) said in its latest Monthly Statistical Bulletin. The CBY blames the fall in revenue on sabotage attacks on oil ex...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Chinese Crude Imports January-September 2014 (‘000 B/D)
...Chinese Crude Imports January-September 2014 (‘000 B/D) Sep-14 Aug-14 Jul-14 3Q14 2Q14 1Q14 YTD14 % of...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
US Imports: Gulf Looks To Keep Share Of Shrinking Pie
...US Imports: Gulf Looks To Keep Share Of Shrinking Pie • US crude oil imports fell to 7.36mn b/d for the first eight months of 2014, 400,000 b/d down on the same period last year and 1.4mn b/d down on January-August 2012. 2014 imports are on track to be the lowest since 1995. • The vo...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 6-Nov 27-31 Oct 20-24 Oct Oct-14 Sep-14 Q3 2014 Q2 2014 20...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014