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OPEC Taps To Stay Open In 2016
...likely to realize considerable gains in 2016, as it prioritizes development of non-associated gas fields, and negating natural decline at existing oil fields. Meanwhile, the UAE will press ahead with plans to increase production capacity from current levels of around 3.2mn b/d to 3.5mn b/d by 2017, which co...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Iran Seeks To Reclaim Former Markets In 2016
...16, or a supply glut extending into 2017 (MEES, 18 December). Given Iran’s high natural decline rates of 8-10% per year and low recovery rates of 20-24%, any significant sustainable increase in crude production will require the investment and technical expertise of IOCs. Cognisant of this, Iran ha...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Prices Hit 11-Year Lows With No Sign Of A Reprieve
...Oil prices are testing lows not hit since early 2004. Amid increasingly bullish signs that Iranian output will ramp up sooner rather than later, a market rebalance may have to wait to 2017. The IEA, in its 11 December oil market report, revises down its ‘call on Opec’ forecast for the fo...
Volume: 58Issue: 51Published at Fri, 18 Dec 2015 -
Saudi Stance Wins Out At Opec Meeting
...ndensate and NGLs) to its output by the end of next year then any market rebalance gets pushed back to 2017 (see graphs). If this analysis was repeated based on the Opec, rather than the IEA, demand forecasts the market would not even be close to balance. QUOTA CALL In the run up to the Opec me...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Opec Market Share Policy To Bear Fruit Next Decade - But Not For All
...intain expensive plans to hike output. This assertion was backed up by Mr Mazru’i at Adipec in Abu Dhabi on 9 November, who stated that the fall in oil prices had not changed the country’s vision. He reaffirmed his commitment to increasing crude production to 3.5mn b/d by 2017, a target the IEA ap...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
More Pain To Come As Iea Sees $80/B ‘Rebalance’ But Not Till 2020
...2015-2020 CHANGE IN US TIGHT OIL OUTPUT AT VARIOUS OIL PRICES* (MN B/D) MARKET TO REBALANCE IN 2016? 2017? Mr Falih, the UAE’s Mr Mazru’i and Opec’s Mr Badri all are forecasting that balance will be restored to the global oil market in 2016. Mr Badri says that he ex...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...OPEC Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame A weakening global economy and the prospect of additional Iranian barrels mean that global oil demand may not catch up with supply until the year after next. Low oil prices too are unlikely to go away anytime so...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
OPEC Holds Ground After Russia Talks
...forts were being made to reduce capex further and should decrease to less than $20bn a year starting in 2017. ...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
OPEC’s Market Strategy Shrinks Spare Capacity
...immediate rise in production capacity. If anything, a dispute between Kuwait and Saudi Arabia over the Neutral Zone has taken more than 500,000 b/d of capacity off markets and volumes are not expected to be restored from the 300,000 b/d offshore Khafji oil field until 2017 at the earliest, MEES un...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Iraq, KRG Oil Export Deal Holds Despite Discrepancies
...eld to 2017 or beyond. (MEES, 1 May). ...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Saudi Top Oil Brass On China Charm Offensive
...“the second frontier for unconventional after the US,” says Mr Falih. Saudi Arabia has identified three areas with high shale gas potential, one of which in the north near the Jordanian border where production is expected to start in 2016 or 2017. ...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
US OUTPUT RISE TO CONTINUE TO 2020-EIA
...aph 1). BUT OIL IMPORTS TO REMAIN However, the situation is markedly different for different fuels. While the US will become a net exporter of gas from 2017 (with the ramp up of LNG exports and pipeline exports to Mexico), for oil, net imports will bottom out around 2020 at 5.5mn b/d according to the EI...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Saudi Arabia Takes Lesson From History
...ojects in its business plans to 2017, below current price levels for Brent crude, though above US marker WTI, which has recently traded at a discount of up to $10/B to Brent. ...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
BP Predicts OPEC’s Second Coming
...0,000 b/d to 750,000 b/d. The $10bn ExxonMobil-led project is now scheduled for completion by 2017, having already been pushed back from 2015. “While the oil price crash has made the low-cost reserves in the UAE look even more attractive, it has also led to corporate belt tightening that may make it di...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
IEA Slashes Non-OPEC Supply Growth projections
....54mn b/d in 2017 and 32.12mn b/d in 2020. Overall, the IEA expects the ‘Call on OPEC’ to increase 2.68mn b/d between 2014 and 2020. And with total capacity in the group’s 12 members rising 1.22mn b/d over this period, “barring any disruption, the group’s spare production capacity is expected to remain am...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
OPEC Puts Russia On The Spot, Again
...rol, said during the same panel discussion in Davos that oil and gas upstream investment in 2015 is expected to decline by around $100bn, or by 15%, with a big chunk coming from the high cost areas. This, he says, will have implications, maybe not immediately, but in 2016 and 2017 should demand pick up an...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015