- Sort by:
- Score
- Published ▼
-
Opec Production Growth Picks Up In November, But Still Remains Well Under Output Ceiling
...awed” at the World Petroleum Congress in Houston this week. “It does not help when the pressure is mounting to stop all new investments in oil and gas. Across the industry, upstream capex fell by more than 50% between 2014 and last year, from $700bn to $300bn,” he says. TotalEnergies CEO Patrick Po...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Spain Crude Imports: Mideast Share Down Again
...18. For 2020 Mideast volumes of 181,000 b/d were the lowest on record but volumes have since fallen further to just 150,000 b/d for 9M2021, whilst the region’s 13.5% market share is on track to come in below 2014’s record annual low of 15.4%. Key Gulf supplier Saudi Arabia, at 81,200 b/d for 9M 2021, is...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Services Firms Eye ‘Exceptional’ 2022 Upstream Growth With Gulf NOCs In The Vanguard
...s the highest since Q1 2020, but for all three, revenue remains well down on 2018 and 2019, never mind the boom years to 2014 (see charts) Cost-cutting efforts mean that profits have rebounded by more than revenue. Whilst collective ‘big 3’ revenues of $12.1bn (OFS only for Baker Hughes) are so...
Volume: 64Issue: 43Published at Fri, 29 Oct 2021 -
China Crude Imports: Mideast Volumes Hit Record Highs
...r full data). CHINA CRUDE IMPORTS ('000 B/D): MIDEAST VOLUMES AT RECORD HIGH FOR 9M21 SOURCE: CHINA CUSTOMS, MEES CALCULATIONS. The Middle East’s share of the China market peaked at 52% in 2014 but slid in the following years amid record volumes from the likes of Br...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
World Faces Oil & Gas Investment Chasm
...ice collapses in 2014-15 and again in 2020. As a result, it is geared towards a world of stagnant or even falling demand…We are not investing enough to meet for future energy needs.” But whilst even a year ago the IEA viewed the collapse in energy investment as clearly unsustainable, it is now ca...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
South Korea Crude Imports: Mideast Share At Record Low
...*South Korea’s crude imports, at 2.58mn b/d for 9M 2021 are down 4% year-on-year putting this year on track for the lowest imports since 2014. *And volumes from Middle East and Opec countries are down much further as Korea continues a drive to diversify supplies. *Mideast vo...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
IEA Calls On Opec+ To Open The Taps In 2022
...clines. Between them, combined capacity of the trio now stands 830,000 b/d below their 2014 production. It goes without saying that the situation is even worse for Venezuela, which produced 2.36mn b/d in 2014, but now has capacity to produce just 580,000 b/d according to the IEA. With that in mind, th...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
India Oil Demand Hit By Covid As Saudi & Opec Import Share Falls To Record Low
...th Saudi Arabia’s market share falling to a record low 14.4%. Opec’s Q1 market share of 64.3% was also a record low, whilst the Mideast share of 56.2% was just fractionally higher than the record quarterly low set in 2014 (see chart). *In volume terms, the 595,000 b/d that India took from Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
China Q1 Crude Imports: Iran Volumes Hiding In Plain Sight?
...me 840,000 b/d to discharge in April, potentially topping China’s highest ever ‘official’ Iran import figure of 798,000 b/d set in April 2014. Of the March volumes, Kpler recorded some 264,000 b/d as having arrived “relatively directly from Iran,” albeit after ship-to-ship transfers in the Gulf re...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Korea Crude Imports: Mideast Volumes Tumble To Multi-Year Lows
...*South Korean crude imports continue to tumble, slumping to 2.475mn b/d for 1Q 2021, the lowest quarterly total since 2Q 2014 as March imports also fell 14% month on month to 2.299mn b/d, marginally above November 2020’s seven-year low 2.294mn b/d. *Prospects for a swift rebound are lo...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
IEA Shoots Down Speculation Of Emerging Super-Cycle As Oil Price Rally Stalls
...0,000 b/d for the quartet, but that is nothing in comparison to the 2.7mn b/d drop-off since 2014. As such, while the Call on Opec may remain below 2017 levels for the next five years, Opec’s strongest members can look forward to their market share hitting new heights. IEA SUPPLY & DEMAND FO...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Opec Keeps Demand Forecast Stable Amid Cloudy Outlook
...ventories in OECD countries. Saudi Energy Minister Prince Abdulaziz bin Salman announced after last week’s Opec+ ministerial meeting that inventories will be judged against the 2014-2019 five-year average, rather than 2015-2020 so as to not be affected by last year’s bloating of global stocks. The la...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Korea, Taiwan 2020 Crude Imports: Volumes Down, Mideast Down Further
...port volumes in the more recent monthly data. The last three quarters of 2020 were the three lowest quarterly figures since 2014, with Q4 2020 at 2.54mn b/d the lowest of the lot. 1: KOREA CRUDE IMPORTS ('000 B/D): OVERALL VOLUMES SLUMP BUT MIDEAST DOWN MUCH FURTHER.... 2: ...TO...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Saudi Surprises Market With 1mn B/D Production Cut
...tput to barely 3mn b/d in the 1980s while other producers simply filled the void. As then-oil minister Ali Naimi told MEES in 2014 as Saudi Arabia was withstanding pressure to cut unless Russia participated, “If I reduce, what happens to my market share? The price will go up and the Russians, the Br...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021