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Bahrain 2015-16 Budget Deficit Soars
...ice exceeds $40/B. Four GCC countries, Saudi Arabia, Kuwait, the UAE and Qatar set up in 2011 a Gulf development fund to disburse $10bn in grants over 10 years to finance Bahraini projects. This aid will be extremely timely in these hard times of low oil revenue (MEES, 1 March 2013). BAHRAIN BU...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Iran Selects 49 Oil, Gas Projects Open For Foreign Investment
...id at the Energy Security Summit 2015 in Berlin this week: “Iran cannot have the third or fourth largest oil reserves and export as much as [mid-sized producer] Azerbaijan.” With crude production and export levels at just 75% and 40% of what they were in 2011, before the latest round of US and EU-le...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Zanganeh: six months for full Iran return to markets
...5mn b/d in 2011, before the latest round of US and EU-led sanctions on Iranian oil sales came into effect (see below). Regardless of how long this return takes however, Iran says Asia will continue to be its main target market, as is the case today, under sanctions. “Don’t worry about our oil st...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iraq, KRG Oil Export Deal Holds Despite Discrepancies
...0,000 b/d gives total Iraqi exports from Ceyhan of just over 514,000 b/d for April, the highest since June 2011. Of the 562,633 b/d that the KRG says it shipped to Ceyhan in April, 415,246 b/d came from “KRG-operated fields,” whilst 147,387 b/d came from “NOC operated fields.” The former includes both fi...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran Readies Upstream Opening In Anticipation Of Nuclear Deal
...st 34% of what was envisaged as part of Iran’s fifth development plan (January 2011-March 2015). Already starved of investment from abroad, what little funds NIOC and the ministry does have for investment is being regularly raided by the government in order to pay out monthly cash handouts to the Ir...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Eni Ramps Up Western Desert Output As Cairo Looks To Cut Through Red Tape
...lehia, Ras Qattara, Raml and West Razzak, the Melehia permit, 300km west of Alexandria, accounts for over 75% of total output, some 54,000 b/d. The field’s output has ramped up rapidly since mid-2012 when Eni first tapped the fields deep formations (MEES, 28 May 2012). Back in 2011-12 Agiba produced 40...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Italy Ups Algerian Gas Imports As Lower Oil Prices Feed Through Into Contracts
...ood at 409.1 bcm in 2014, compared with 477.8 bcm in 2011, according to statistics from Eurogas, a fall of almost 15% over the past three years. Falling demand made it a buyers’ market and Europe’s main gas suppliers – Russia’s Gazprom, Norway’s Statoil, Algeria’s Sonatrach, and to some extent Qatar’s Ra...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Saudi Top Oil Brass On China Charm Offensive
...ina. Today, we export around 1 million,” Mr Naimi said at the Beijing Energy Club on 27 April. China was a net exporter of crude until the turn of the millennium. Saudi supplies to China soared to hit 500,000 b/d in 2006 and 1mn b/d in 2011 but have remained at around this level since: overall Ch...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Saudi Reshuffle: Is The Stage Set For An Oil Change?
...re accused of plotting to kill the Saudi ambassador a few years back, a revelation that pushed already tense relations between the two regional powers to a new low in 2011. Should the change lead to a harder line in dealing with Iran, it would complicate Mr Naimi’s task of trying to try to hold an al...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Damascus Cash Crunch As Crude Below 10,000 B/D
...oduction of 385,000 b/d before the start of the uprising in March 2011. However, if the government figures are to be believed, output is actually up slightly on the 2014 average of 9,330 b/d, while the average for the first quarter of 2014 stood at 13,000 b/d (MEES, 9 May 2014). Gas production has fa...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iraq: Q1 Exports Hit 2.7mn B/D But Still Way Off 3.3mn B/D 2015 Target (‘000 B/D)
...b-15 Jan-15 2014 2013 2012 2011 2010 CRUDE OUTPUT: Federal* 3,064 -42 -77 3,...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Repsol, Gdf Suez, Enel Strike Gas At Sud-Est Illizi Block
...ock on the Libyan side of the border (NC-210) in the Ghadames Basin. They submitted a development plan in 2009 but nothing appears to have happened since, save Australia’s Woodside selling its 45% stake to the Libyan Investment Authority in 2011, with GDF Suez taking over as operator the same year. Ga...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Kuwait Finds New Oil At Home As It Goes Shopping In Tunisia
...ture upstream assets, successful exploration acreage as well as mid- and downstream assets. ENI TUNISIA OUTPUT 2009 2010 2011 2012 2013 20...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Egypt Cancels Summer In Bid To Avoid Power Cuts
...b-15 Jan-15 Dec-14 J-F-15 vsJ-F-14 vs2014 2014 2013 2012 2011 2010 20...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
EGYPT OFFICIAL JAN-FEB 2015 CRUDE & OIL PRODUCTS OUTPUT & DEMAND (‘000 B/D)
...14 2013 2012 2011 2010 2009 CRUDE OIL: Production* 679 670 687 67...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Oman’s LNG Strategy Hinges On New Supplies, Production
...fferent ownerships and contracts. OMAN LNG EXPORTS (MN T/Y) OMAN: KEY GAS AND REVENUE STATS 2010 2011 2012 2013 2014 2015 Ga...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
OPEC Takes Revenue Hits But Stays Course On Output
...iefing in Washington DC. Prices averaged $100-110/B between January 2011 and August 2014 but have averaged around $55/B for Brent since the start of 2015. “The $380bn is almost a little short of a fifth of the size of their economies, a substantial amount for those countries. And similarly, for their bu...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Firms Face Up To Mounting Libya Write-Offs
...LIBYA Firms Face Up To Mounting Libya Write-Offs The past year has seen a significant downturn in output for oil companies operating in Libya, with several firms recording their worst year since the toppling of Mu’ammar al-Qadhafi in 2011, and others deciding to write-off expenses fr...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Chinese Q1 2015 Crude Imports (‘000 B/D)
...7 +2.8 +0.6 +1.0 61.3 58.2 60.7 62.3 60.4 63.6 *SOUTH SUDAN BECAME INDEPENDENT IN JULY 2011 BUT WAS STILL IN...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Us Petroleum Imports, Exports, Demand (‘000 B/D)
...1Q14 4Q14 3Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,396 7,242 7,...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015