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W.Asia

W.Asia
2019, January, 11, 11:40:00

FAST ENERGY GROWTH

U.S. EIA - Energy consumption in Asia, the Middle East, and Africa continues to grow rapidly, with about 20% growth in each region between 2010 and 2016, according to newly available data in EIA’s International Energy Statistics database. In particular, energy consumption has been increasing in the Middle East and Africa, driven by economic growth, increased access to energy markets, and quickly growing populations. Energy consumption in Asia grew even as energy consumption in China declined between 2015 and 2016.

W.Asia
2019, January, 9, 11:15:00

OPEC OIL PRODUCTION DOWN 630 TBD

PLATTS - OPEC crude production in December tumbled 630,000 b/d month on month, an S&P Global Platts survey of industry officials, analysts and shipping data showed Tuesday, but the organization still has much more cutting to do to reach its new quotas for 2019.

W.Asia
2019, January, 9, 11:10:00

SAUDI'S OIL PRODUCTION DOWN 400 TBD

MEOG - Saudi Arabia reportedly cut its crude production by more than 400,000 barrels per day (bpd) in December 2018. Saudi crude production sat at 10.65 million bpd (mbpd) that month, down from 11.07 mbpd in November.

W.Asia
2019, January, 7, 09:50:00

IRAQ'S OIL PRODUCTION: 4.513 MBD

REUTERS - Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

W.Asia
2019, January, 7, 09:25:00

QATAR'S PPI UP 18.9%

GT - Qatar's producer price index (PPI) – a measure of the average selling prices received by the domestic producers for their output – surged 18.9% on an yearly basis but reported a sharp 5.7% month-on-month decline during the review period, said the figures released by the Ministry of Development Planning and Statistics (MDPS).

W.Asia
2019, January, 7, 09:20:00

QATAR'S INVESTMENT UP 9%

GT - A robust expansion in foreign portfolio and other investments helped Qatar report about 9% year-on-year growth in total overseas investments into the country during the third quarter (Q3) of 2018, notwithstanding the ongoing diplomatic and trade embargo, according to the official estimates.

W.Asia
2019, January, 4, 11:55:00

OIL PRICE LEVEL: $60 - 70

MEOG - A $60-70 per barrel oil price level appears adequate to incentivise sufficient long-term supply. The cost to develop both tight oil resources and conventional upstream oil projects has declined significantly since the oil price collapse of 2015-16.

W.Asia
2019, January, 4, 11:45:00

IMPORTANT QATAR'S LNG

PENINSULA - Currently, Qatar is leading liquefied natural gas (LNG) exports with 12 consecutive years under its belt, while the US is looking to raise its LNG exports with its abundant shale gas supplies.

W.Asia
2018, December, 29, 14:05:00

GAZPROM'S GAS FOR TURKEY: 201 BCM

PLATTS - Russia's Gazprom expects its total natural gas exports to Europe and Turkey to reach 201 Bcm in 2018, CEO Alexei Miller said Friday, a third year of record export volumes.

W.Asia
2018, December, 26, 07:25:00

OPEC: 26 MBBL SURPLUS

AN - “Based on available figures, we have around 26 million barrels of surplus ... compared to 340 million barrels in early 2017,” Al-Mazrouei told a press conference in Kuwait City.

W.Asia
2018, December, 26, 07:15:00

IRAN'S BUDGET $47 BLN

AN - Rouhani gave the value of the draft budget at about 4,700 trillion rials for the next Iranian year which starts on March 21, 2019 He said US sanctions would affect Iranians’ lives and growth but not bring the government to its knees

W.Asia
2018, December, 24, 11:45:00

SAUDIS BUDGET 2019: $295 BLN

MEOG - Saudi Arabia's Council of Ministers approved its 2019 budget, the largest in the Kingdom's history. It has planned to spend $295bn in the coming year, and estimates revenue at $260bn. Deficit is therefore estimated at $35bn, down 32% from the expected deficit for 2018, $52bn. Actual deficit in 2018 sat at $36.2bn.

W.Asia
2018, December, 24, 11:30:00

UAE HELP PAKISTAN $3 BLN

AN - The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported on Friday, while a Pakistani official said Islamabad also hopes it will allow deferred payments for oil supplies.

W.Asia
2018, December, 24, 11:25:00

OMV, ADNOC CONCESSION: 5%

ADNOC - The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria's OMV a 5 percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields.

W.Asia
2018, December, 21, 14:35:00

SAUDIS NEED $84

PLATTS - Saudi Arabia will require oil prices higher than $84/b to avoid running another deficit, analysts warned after the kingdom announced on Tuesday record government spending in its state budget for 2019.

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