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‘Invest, Invest, Invest’ In Oil: Mees Interview With Opec Secretary General Haitham Al-Ghais
...wnstream and $1 trillion for the midstream. It’s a huge amount of money, but it’s vital as we have been hit hard twice in recent times. First with the 2014-2016 industry downturn, and then in 2020 with the Covid downturn. In addition, with every downturn there is market instability and with that you lose in...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
China Crude Imports: Mideast & Russia Both ‘Winners’ For Now
...are of 53.3% for 8M 2022 puts this year on track to top the previous record high of 52.2% set back in 2014 (see chart 1), especially as a 55.5% share for August shows there is no sign of the region losing ground. So if the Middle East is up, and Russia is up, whilst overall volumes are falling, th...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Aramco CEO: Flawed Assumptions Promise A Hard Winter For Europe
...spite oil prices spending months well above $100/B. “Oil and gas investments crashed by more than 50% between 2014 and last year, from $700bn to a little over $300bn. The increases this year are too little, too late, too short-term,” bemoaned Mr Nasser at the Schlumberger Digital Forum 2022. Co...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Qatar & Oman Cash In As Asian LNG Buyers See Record Import Bill Even As Volumes Slump
...gures set in 2013 and 2014 when both Korea and Japan took far higher volumes than for 1H 2022 (see chart 2). *One interesting feature of Qatar’s exports to Asia is the sharply different average prices paid for Qatari volumes – both a feature of whether key long-term contracts were struck in a bu...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
China 1h Crude Imports: Bumper Mideast Share Under Threat From Russia
...years – beating 2014’s 52.2% (see chart 2). In reality, this now looks unlikely: the recent increase in Russian volumes saw the Mideast market share slump to 46% for June. This came as China’s overall import volumes fell to a four-year low of 8.76mn b/d for June. Perhaps not surprisingly Saudi Ar...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
China: Could Record Russian Crude Imports See Saudi Squeezed?
...creased market share. MIDEAST BUYING FIRM FOR NOW… Chinese imports from other Middle East suppliers also remained firm through May: at 54.1% the Mideast market share for the first five months of 2022 is on track to top the previous annual record of 52.2% set in 2014. Number three ov...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
China LNG Buying Subdued But Qatar Volumes Surge & Revenues Triple
...lumes. The import bill for Qatar volumes was up almost threefold at $4.30bn versus $1.52bn for the year-ago period. Qatar’s overall export revenues of $28.6bn for Q1 were the highest since 2014 (MEES, 29 April) *Whilst China’s fall in year-on-year import s is down to Covid-related lockdowns as we...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Asian LNG Importers See Record Import Bill For Q1 Despite Slump In Volumes
...2014, and then number two behind Australia for 2015-2020, suffer the ignominy of being overtaken by the USA for number three spot despite notching up a modest rise in absolute volumes (MEES, 21 January). What a difference three months makes. With the start up of key Qatar-China term deals at th...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
IEA Warns Of 3mn B/D Russian Supply Hit
...ys that OECD inventories dropped by 21.9mn barrels (707,000 b/d) in January to their lowest level since April 2014, and that “preliminary data for February show OECD inventories fell by an even steeper 1.06mn b/d.” If the IEA’s projections bear out, inventories will be drawn down much further ov...
Volume: 65Issue: 11Published at Fri, 18 Mar 2022 -
Opec 2021 Revenues Rise At Highest Rate Since 1973-74 Oil Crisis
...llowing the 1973 Arab oil embargo. Despite last year’s extraordinary growth, revenues effectively just recovered to pre-Covid levels. And those are barely 50% of pre-2014 revenues of more than $1tn. But with Brent breaking above $90/B during intraday trading for the first time since 2014 on 26 Ja...
Volume: 65Issue: 04Published at Fri, 28 Jan 2022