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Egypt: New Central Bank Chief Faces Foreign Currency Crisis
...e end of 2014-15 by $2bn to $48.1bn. The cost of servicing the external debt – medium and long-term – stood at $5.6bn, of which $4.9bn represents instalment payments and $700mn interest charges. The debt/GDP ratio at the end of 2014-15 fell to 15% from 16.4% the previous year. Domestic debt stood at...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
China Crude Imports 3q15 (‘000 B/D)
...15vs2Q15 15-Sep 15-Aug 15-Jul 3Q15 000 b/d % 2Q15 1Q15 4Q14 3Q14 2014...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 45.38 46.81 48.33 45.44 42.9 46.62 58...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Zueitina Restart Small Sign Of Hope For Libya’s Oil Prospects
...rkers demanding jobs from NOC brought the pipeline supplying crude to the facility to a halt (MEES, 8 May). The dispute has now been brought to a close with the promise of jobs for the protestors, Mr Lefkaih says. The terminal had only restarted on 22 February, having been out of action since April 2014...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iran Targeting $150Bn Oil & Gas Investment By 2020
...ojects, as well as export facilities boosts this figure to “over $150bn,” he says. COOPERATION WITH IOCs Though yet to be officially unveiled, details of the new IPCs have trickled out since its soft-launch in February 2014. These suggest foreign and local company cooperation will be a main theme in...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Egypt Keeps-Up LNG Import Momentum With 55-Cargo Award
...llowing the arrival of Norwegian firm Höegh’s 550mn cfd Höegh Gallant floating storage and regasification unit (FSRU) at Ain Sukhna on the Red Sea. The vessel has been leased to EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Cairo says it expects four cargoes to ar...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Suez Canal: Saudi Diesel Boosts Northbound Volumes
...oduce transport fuels to Euro specifications. The 400,000 b/d Satorp refinery in Jubail was brought online in late 2013 and reached full capacity in mid-2014, while the 400,000 b/d Yasref refinery in Yanbu’ was started up in 2014 and is scheduled to reach full capacity this month. Cairo hopes to do...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Qatar Power Demand Tops 7GW; QEWC Advances 2.5GW Plant
...hind this summer’s consumption peak. Kahramaa says the new peak is almost 5% higher than the 2014 high of 6.74GW, and was achieved without an increase in electricity network faults. The state utility says that Qatar’s peak electricity load has increased by 8.5% a year during 2010-14. Qatar can cu...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...mber of active rigs offshore Brazil has fallen from 40 to 21 over the last two years (see p10). Though the IEA projects overall non-Opec output of 58.3mn b/d for 2015, up 1.3mn b/d on 2014, output will finally begin to fall this quarter with the predicted 2016 figure of 57.8mn b/d down 500,000 b/d on 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
No End In Sight To Record Saudi Drilling
...eting, Mr Naimi told energy ministers that the Opec kingpin would be pressing on with its investments in all phases of the oil and gas sector, despite the plunge in oil prices (MEES, 9 October). Since steering Opec toward its November 2014 decision to pursue market share over oil prices, Mr Naimi has al...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq Progresses With Giant Gas-Fired Plant, But Where’s The Fuel?
...r the current shortfall of available gas, Iraq is instead burning liquids to minimize power blackouts, including direct burn crude which averaged 223,000 b/d in July and August, a substantial hike over the average 136,000 b/d burned in 2014. Iraqi Minister of Electricity Qasim al-Fahwadi told pa...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Keystone Keeps Wolf From The Door With New KRG Payment
...rway’s DNO and its partners in the 150,000 b/d Tawke field, and London-listed Genel and its partners at 130,000 b/d Taq Taq (MEES, 11 September). Previous similar payments were in December 2014. GKP, under pressure from the KRG, from mid-September agreed to export all of its 40,000 b/d production via th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Egypt: Desperately Seeking Finance
...ere has been a turnaround in economic performance with policies to reign in the budget deficit and the inflow of Gulf cash since mid-2013. But though GDP growth rose to 4.2% for the 2014-15 fiscal year which ended on 30 June, with the IMF projecting 4.3% for the current year, there are serious ch...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraqi Cash Shortage Deepens As Bond Issue Pulled
...port volumes of 3.05mn b/d for September, Iraq pocketed a mere $3.69bn for the month’s crude exports, less than half monthly takings for the first half of 2014 (see graph). Iraq received just $40.33/B for its September exports, the lowest figure since February 2009. Oil revenue accounts to around 83...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Suez Canal Traffic (‘000t)
...Jan-Aug13 SOUTH TO NORTH Aug-15 Jul-15 Jun-15 Jan-Aug15 '000t % '000t % 2014 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
South Korean Crude Oil & Condensate Imports, ‘000 B/D
...South Korean Crude Oil & Condensate Imports, ‘000 B/D 3Q15 vs2Q15 vs3Q14 2Q15 1Q15 4Q14 3Q14 2014...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 46.38 45.01 48.33 45.44 42.90 46.62 58...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Saudi Oil, Gas Spending To Continue Unabated Despite Oil Price Collapse
...ported Mr Naimi as saying, expressing a hope that the G20 could play a leading role in stabilizing the market. The Saudi minister also met separately with US Energy Secretary Ernest Moniz and the Russian Energy Minister Alexander Novak. Since steering Opec toward its November 2014 decision to pursue ma...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Oman Expects New Block Award By December
...ock was pulled from Omani independent Petrogas E&P in December 2014, following the expiry of its 15-year contract at the concession. Though Petrogas was keen to renew its contract at the block, the MOG opted to offer it to another foreign oil company in the hopes that it will be able to reverse th...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
UAE To Spend $35bn On Reducing Gas Imports For Powergen
...the investment total will be earmarked for gas field developments. Mr Mazru’i says current gas production can meet only 50% of UAE demand, with the shortfall being met through imports of gas and LNG. The UAE imported just over 6mn tons of LNG in 2014 (8.2bn m3 or 790mn cfd of gas ) and 2bn cfd of ga...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015