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Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE....
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
US Vs China Fossil Fuel Imports/Exports (Mn Tons Of Oil Equivalent) - IEA Projections
...THE US THIS YEAR^ BECAME A NET GAS EXPORTER. IT WILL BE ‘LONG’ FOSSIL FUELs FROM 2022 AND A NET OIL EXPORTER FROM 2028 CHINA THIS YEAR OVERTOOK THE US AS A GROSS IMPORTER OF CRUDE. IT IS ALREADY WAY AHEAD ON A NET BASIS *2017 WEO, NEW POLICIES SCENARIO. ^FROM 20...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
BP Can’t Stop Falling For Low Cost Mideast Output
...Low cost Mideast fields are of growing importance for BP. The expiry of Abu Dhabi’s Adma sees output dip, but growth in Oman & Kuwait means long-term the trend is up. BP net oil and gas output for Jan-Sep 2017 is up 10% year-on-year (excluding the firm’s 19.75% stake in Russian state gi...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Reality Sets In As KRG Imagines Life With Less Oil
...ducting a range of federal expenses. But Reuters reports that the draft 2018 budget law cuts the KRG’s share to 12.6%. The 2017 budget pegs total expenditure of $90.6bn (MEES, 8 September) without setting out a KRG share. 12.6% of the 2017 figure would equate to $11.4bn. Prior to losing Kirkuk MEES es...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Israel Gas Projects Advance, But Buyers Remain Scarce
...ofitable. Output at Tamar hit a record 997bn cfd for 3Q 2017 despite a six-day shutdown for maintenance late in September after a crack was found in a subsea pipeline (MEES, 29 September). The shutdown “coupled with strong growing demand in Israel highlights the criticality of the Leviathan project in pr...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Mauritania Gas: Torturous Timeframe, Exploration Optimism Despite Drilling Flop
...atus of at least four years as a hydrocarbon producer (longer if Tortue development fails to proceed like clockwork). The country’s sole production since 2006 has been from the Chinguetti offshore oil field. But output dwindled to just 4,000 b/d in 1H 2017, too low to make production (via the Berge He...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
LNG Prices Leap On Record Chinese Buying
...• Prices for Asian spot LNG imports have jumped to around $9/mn BTU for December arrival cargoes. December is the peak month for winter (and thus annual) buying. • China is the key demand driver. Already for the first nine months of 2017, imports at 25.63mn tons, were up by a whopping 43...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt: Last LNG Tender?
...ypt. Oil minister Tarek El Molla says that Egypt will reach natural gas self-sufficiency by mid-2018 once Italian firm Eni’s 24 tcf Zohr gas field ramps up after its December 2017 start-up (MEES, 3 November). Egypt began importing LNG in April 2015 when gas output was 4.40bn cfd and has imported ar...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Abu Dhabi Completes 1.6GW Gas-Fired Plant
...Al-Mirfa CCGT (Gas)** 1.24 End 2017 Capacity: 30.07 Projects Awarded: Enec (2018-20) Ba...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt To Privatize Wind Management
...e Japanese Bank for International Cooperation (JBIC), Japan’s Sumitomo Mitsui Banking Corporation and France’s Societe Generale. Japanese export credit agency Nexi will provide backing. Construction will start by the end of 2017 and take around 24 months, Engie says. This seems optimistic given Eg...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Opec Output Falls Ahead Of Key Meeting As US Shale Eyes Price Rally
...US E&P companies in October was the most of any month in 2017 and that the additional capital will facilitate increased investment and support US crude output growth. 1: OPEC BASKET AT $4/B PREMIUM TO WTI, 5-YEAR LOW DISCOUNT TO BRENT ($/B, MONTHLY AVERAGE PRICES*) SOURCE: ICE, OPEC. ME...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Adnoc Makes $9bn Splash In International Finance Markets
...onomies. Saudi Arabia is the biggest government lender, with a recent $12.5bn bond. The Abu Dhabi government last month issued a $10bn three-tranche international bond and the Adcop bonds take to $53.5bn the amount raised by GCC international bond issues so far 2017 (MEES, 6 October). Among state pe...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt Gas Output Set To Soar By 2020
...timistic. For much of 2017 Egyptian officials have been touting that the country will have a gas surplus as early as mid-2018. Egypt last had an annual gas surplus in 2013 when output was almost 5.5bn cfd and it exported 50 cargoes of LNG. Output subsequently slumped, plumbing a nine-year low of 3.89mn cf...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Algeria: In Amenas Hits Record Production As In Salah Output Halves
...One of Algeria’s largest wet gas fields, In Amenas, enjoyed a record nine months in 2017, producing gas at a rate not seen for more than one quarter at a time over the past seven years. The concession, operated by a consortium of the UK’s BP, Norway’s Statoil, and state energy company So...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq Boosts Export Capacity, Eyes Alternative Routes
...346mn b/d, up about 100,000 b/d from September (see p7). Southern exports have averaged 3.264mn b/d for the first 10 months of 2017 with output cut from January as part of the Opec agreement. October figures also saw a three-year high for export revenues at $5.455bn. The new SPM brings Iraq’s total ex...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq Export Revenues Soar
...2016 to 160,000 b/d in 2017, reversing a four-year trend of increasing crude burns to satiate domestic demand. Reducing flaring rates and gas imports from Iran account for the improvements. But, whilst export volumes have edged higher in recent months, the bulk of the gain in revenues has come fr...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Saudi Petchems Gets Oil Price Boost; Sabic Chief Warns On Cheap Feedstock Addiction
...ntinues to pick up pace. Little of the quarter-on-quarter increase could be attributed to rising oil prices, to which petrochemicals export prices are linked: prices for Saudi Arabia’s Arab Light crude grade rose by a modest 2.9% to $50/B for Q3 2017. However, the 26% profits increase for the fi...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Egypt’s Largest Solar Investor Ties Up Finance For Benban Projects
...18 start-up target represents a slippage from the original EBRD and IFC schedules, which targeted construction on the first of the backed projects by the end of 2017. Before they can begin to supply the grid, EETC must complete at least one of four substations it is building at the corners of the Be...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
US Exports Make More Waves, Taking Opec Share In Core Asian Markets
...ead with imports of 8.53mn b/d for January-September 2017 versus 7.97mn b/d for the US). But here too US trading patterns have been making waves, with imports from Saudi Arabia falling to just 504,000 b/d in October (based on weekly data to 27 October) the lowest monthly figure since 1987. For the we...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Opec Producers Cash In On WTI Weakness Amid Tight Asia Market
...• Cuts to Opec output from the start of 2017 have focussed on the grouping’s Mideast core. This has tightened markets in Asia, raising the value of the Opec crude basket against Brent, and especially US marker WTI. The latter is priced at Cushing, Oklahoma, an inland location just to the no...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017