Imports Of Iranian Crude & Condensate Rise Strongly; But Is It Sustainable?

...•  South Korea imported 243,000 b/d from Iran in March. Though this was down a touch on February’s 267,000 b/d it marked the third straight month over 200,000 b/d with first quarter imports from Iran at the highest quarterly level since Q3 2011, just before sanctions were tightened (see p21 fo...

South Korea 1Q16 Crude Oil & Condensate Imports ‘000 B/D: Iran Volumes Double To Highest Level Since 2011

...SOUTH KOREAN CRUDE IMPORTS FROM IRAN IN 1Q16 BACK AT 2011 LEVELS FOLLOWING SANCTIONS REMOVAL (‘000 B/D)...

Kuwait Seeks More LNG, Strives To Hike Domestic Gas Output

...ns in 2011 (MEES, 8 April). Initially, LNG was considered a stop-gap solution for addressing Kuwait’s rocketing gas requirements for power generation, though it turned into a more “economic and environmental” option, KNPC CEO Muhammad al-Mutairi commented at the Fourth Kuwait Oil and Gas conference th...

Libya Unity Government Faces Huge Challenges

...rack Obama described the failure to properly prepare for the 2011 ousting of Libyan leader Colonel Mu’ammar al-Qadhafi as the greatest error of his presidency, the new Western-backed government in Tripoli faces huge challenges if it is to establish its legitimacy in the conflict-torn country. Asked in...

Saudi Comes To Egypt’s Rescue Again Signing $55bn-Plus Of Deals

...ighbors around them. Egypt as a transition state after the 2011 revolution is in need of all the financial and economic assistance that Saudi Arabia can afford to help in reviving its ailing economy. As collated from various sources, Egypt has signed agreements and MoUs worth some $55bn, although a co...

New Adnoc Supremo Commits To 3.5mn b/d Output Target Amid Leadership Shakeup

...d gas sector, with the first major reshuffle of Abu Dhabi’s most senior oil and gas decision making body, the Supreme Petroleum Council (SPC), since 2011. The ruler of Abu Dhabi, UAE President Khalifa bin Zayid al-Nahyan, announced the reshuffle by decree on 28 March.  The shakeup brings seven new fa...

Mid-East LNG Demand‘A Driving Force’ In 2015

...NS)…                 vs 2014     2011 2012 2013 2014 2015 mn t % NORTH AFRICA 18...

OPEC Output Falls Ahead Of Meeting As UAE Outage Outweighs Iran Gains

...ghest since 2011 (MEES, 25 March). But the increases were relatively small in nature. The most important development is the 6mn barrels of Iranian crude sold last month (around 200,000 b/d) which has arrived, or is set to arrive in EU ports imminently. To date the only post-sanctions European buyers of...

Petroceltic: Worldview Or Bust

...bsidiary Dragon Oil tried to buy the firm for $800mn (MEES, 10 October 2014). It was downhill from there. Worldview, which has steadily built a stake since 2011, in January 2015 lambasted Petroceltic CEO Brian O’Cathain's board for “failures… including the failed offer by Dragon Oil (MEES, 16 January 20...

Saudi: Key Gas Start-Ups Increase Oil Field Flexibility

...nce 2011, when the Karan field came online and reached its 1.8bn cfd production capacity in late 2012. Karan was the first non-associated gas field to be developed in Saudi Arabia (MEES, 4 June 2012). An expansion of the Hasbah field is to provide a further 2bn cfd of raw gas to the Fadhili pr...

Israeli Court Ruling Pushes Leviathan Back Further

...de in the past seven years, caught Israel off guard, forcing lawmakers to scramble to put a regulatory framework together ensuring both that enough gas was piped to Israel and that the country could benefit from exporting its natural wealth. In 2011 the Sheshinski Committee passed regulations on new oi...

More Aid For Jordan, Lebanon And Tunisia

...Lebanon and Jordan were this week promised new loans totaling $573mn to help them cope with the cost of hosting Syrian refugees who have fled their country since the start of the civil war in 2011.  Lebanon has signed five loan agreements for $373mn with the Islamic Development Bank (IDB) to...

EU Crude Imports By Origin & Grade 2011-2015 (‘000 B/D)

Iran, Iraq & Saudi Step Up Battle For Market Share In Asia And Europe

...ked imports from Iran in February. Korean imports of 267,000 b/d were the highest since 2011. For March, the key increment is the 6mn barrels of Iranian crude (just under 200,000 b/d) which has arrived, or is set to arrive in EU ports (see graph p9).  4: EU IMPORTS OF KRG CRUDE* RISE EIGHTFOLD IN 20...

MEES Special Report: Jihadist Instability In North Africa And Beyond

...se of IS in Libya, which since the fall of Mu’ammar al-Qadhafi in 2011 has been characterized by lawlessness and division. “Further instability in Libya and the ongoing absence of a unity government or unified security could plunge the country into a further crisis which would impact Europe in se...

Libya Oil Production Falls Further

...tput. Power shortages since the 2011 revolution have presented a recurrent impediment to output (MEES, 17 May 2013)....

Total: Adco Boosts Oil Output But Gas Lower On Yemen conflict

...wars. In Syria the firm produced 218mn cfd of gas in 2011 – making it Total’s third biggest MENA province: it has produced nothing there since. In Libya, Total’s oil output collapsed to 20,000 b/d in 2011 with the ‘revolution’ and again in 2014 and 2015 as instability grew: current (and 20...

Majors Have Another Year To Forget In The Middle East

...ay, allowing Qatar to open up a 0.36bn cfd lead as the company’s largest source. This is the biggest gap since 2010, when Qatari volumes were 1.27bn cfd more than US contributions. Qatari volumes rose for the first time since 2011, but were unable to prevent a fourth consecutive drop in annual global ga...

Jordan’s Fiscal Situation Grim, Debt Nears 100% Of GDP

...rdan’s $32bn end-2015 stock of public debt, a full $7bn is due to accumulated Nepco losses. All in all a conservative estimate would be that Jordan will add at least 5% of GDP to its national debt in 2016, and likely somewhat more. This follows a five-year period corresponding with the “Arab Spring” (2011...

KRG Pipeline Politics: Ankara-Baghdad Balancing Act Looks Increasingly Perilous

...G to its Turkish political connections. Former BP chief Tony Hayward, appointed as Genel chairman in 2011 when the firm listed in London, said about plans to export Kurdish gas to Turkey in the firm’s 2015 results on 3 March, Turkey’s strategy is “to try to create some semblance of stability al...