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Indian ‘Compliance’ Beginning To Hit Iran Oil Sales
...rea reduced purchases from December 2014 levels. And with Indian refiners under intense government pressure to cut their intakes of Iranian crude over the coming months to present – at least symbolically – an effort to comply with US sanctions on Iranian crude oil exports, this is a downward trend one ca...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Sonatrach And Gazprom Revive LNG Supply Talks
...reements with Italian importers such as Eni to slash shipments through the Trans-Mediterranean pipeline linking Algeria and Italy in order to cut costs until the end of 2014 (MEES, 10 October 2014). Shipments have edged higher so far this year but remain at only 30% of 2010 levels (see graph). However, th...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt Inks More LNG Import Deals
...AS for five years under a deal signed in November last year (MEES, 7 November 2014). A second FSRU will also be moored at Ain Sukhna in July but as yet no announcement has been made regarding the firm which will supply it. EGYPT LNG IMPORT DEALS Company Si...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Qatar Looks To Adapt Amid Shifting Global LNG Landscape
...en as an alternative to imports of pipeline gas from Iran (MEES, 28 February 2014). With a potential easing of international relations with Tehran, Qatar also seems to be preparing the ground for potential competition with its neighbor in the longer term. LOWER FIXED PRICES; A SIGN OF THINGS TO CO...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Qatar Hydrocarbons Sector In Temporary Lull
...ctor will account for more than half of nominal GDP, with its share rising further in 2016,” it says in its recently-released economic outlook report for 2014-16. The ministry predicts that Qatar’s GDP growth will top 7% for both 2015 and 2016, after posting 6.3% growth for 2014. Hydrocarbon ou...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
New Marine Bunker Rules To ‘Significantly Lighten The Demand Barrel’-IEA
...dergo a step change, rising to 31.5mn b/d by 2020, up 2.4mn b/d from 2019 and 4.5mn b/d above 2014 levels.” With fuel oil bunker demand falling by 2.2mn b/d, total fuel oil demand will fall to 5.3mn b/d in 2020. By this time the shipping industry’s share of total residual fuel oil demand is projected to...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Oman Ramps Up Scope Of Sohar Plans
...ile the expansion, due for completion in 2016, will provide additional clean fuels for local consumption, the new units will also feed existing aromatics and polypropylene units alongside the refinery, reducing the need for imports (MEES, 6 June 2014). The expanded refinery will provide 36,000 b/d of...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
South Korean LNG Imports: Qatar Cements Top Position In 2014
...South Korean LNG Imports: Qatar Cements Top Position In 2014 2014 2014 vs 2013 2013 2012 2011 ‘00...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons)
...Suez Canal Record Revenue And Volumes For 2014 (‘000 Tons) 2014 vs 2013 vs2010 2013 2012 20...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Shell LNG To Jordan Expected In July
...lumes of as high as 590mn cfd (MEES, 19 December 2014). The FSRU receiving terminal is being built by the Bermuda-registered Golar LNG, which had previously said that the Golar Eskimo FSRU would be completed by the end of 2014 and enter into service in early 2015. Golar was awarded the $445mn co...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Oman Awards Ras Markaz Crude Terminal FEED
...ES, 12 July 2013). The Ministry of Oil and Gas (MOG) expects crude and condensate production to average 965,000 b/d this year, an increase of 22,000 b/d over 2013 output, which was itself a 13-year high (MEES, 23 January). Oman’s crude oil exports averaged 800,000 b/d in 2014, according to latest MO...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
India Scrambles To ‘Correct’ Iran Crude Imports Ahead Of Obama Visit
...the first three quarters of this fiscal year (April 2014 – March 2015) versus last, violating in theory, the terms of the Joint Plan of Action (JPA) – the interim nuclear deal struck between Iran and world powers in late 2013, which required Iran’s oil customers to maintain purchases at what was th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Unrest Threatens Yemen Oil, LNG Operations As President Quits
...tput offline. Operations at Blocks 18 and 5 in the nearby Marib province – operated by state-owned Safer Petroleum and Kuwait Energy respectively – are also hit. Here violence has escalated as the Houthi movement pushes further east (MEES, 19 December 2014). These stoppages have dragged output in th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Cairo Steps On The GasIn Bid To Ease Shortages
...s, or 7.5% of Egypt’s current output (and thus consumption). Egyptian gas production fell to just 4.6bn cfd, its lowest since 2006 in July 2014, though it has since edged up slightly following the ramp up of output at German firm RWE Dea’s Disouq field to 150mn cfd in August. The company expects ou...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Oil Price Slide Exposes Flaws In Juba-Khartoum Transit Fee Deal
...ports, and Brent minus $10/B for Dar Blend, implying revenues of $75/B and $84/B for its exports of Dar and Nile Blends respectively. And while the plan did not cover 2014, trades in Dar Blend over the past year suggest a typical discount of $10/B to Brent still holds. Dar Blend is a heavy, acidic cr...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Egypt To Ease Gas Crisis With Algeria LNG
...EGYPT Egypt To Ease Gas Crisis With Algeria LNG Cairo saw a flurry of activity in the final days of 2014 as Egypt moved to address a number of issues regarding its current energy crisis. Egypt’s Ministry of Petroleum and Mineral Resources’ first move was to sign a contract to receive si...
Volume: 58Issue: 01Published at Fri, 02 Jan 2015 -
Jordan Politicians Slam Israel Gas Deal
...en forced to rely on costly imports of liquid fuels. The country’s energy import bill soared to $5.7bn last year with fuel oil imports accounting for almost half the total (MEES, 7 March). The first nine months of 2014 has seen a further 11.5% rise to JD3.358bn ($4.74bn) MEES, 28 November, although th...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Stocks Special: Saudi Strong, Chinese A Bit Less Reserved
....7mn barrels (620,000 b/d) in September with “extra cargoes [imported] from Saudi Arabia, Kuwait, Iraq and Oman,” the IEA says in its November Oil Market Report. According to IEA calculations, China added 105mn barrels to its stocks during the first nine months of 2014. This comes on top of an 89mn ba...
Volume: 57Issue: 48Published at Fri, 28 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 -
Vitol Eyes Hub Role For Cyprus Products Storage Terminal
...receive middle distillates, such as kerosene and diesel from the Middle East to Europe via the Suez Canal. Traffic through the canal has risen in 2014, reaching a record of 13.7mn tons in August (see table, p9). The terminal will also facilitate the movement of gasoline from Europe to the East Me...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014