industryterm:petroleum products

Port in Libya’s Benghazi reopens after three-year closure due to clashes
▻https://www.reuters.com/article/us-libya-security-benghazi-port/port-in-libyas-benghazi-reopens-after-3-year-closure-due-to-clashes-idUSKCN

Benghazi’s commercial port officially reopened on Sunday after a three-year closure due to fighting between rival factions in the east Libyan city.

To mark the opening Abdullah al-Thinni, prime minister of a government based in the east, arrived on board a tanker sent from the eastern city of Tobruk.

The port does not export oil, but imports gas and some petroleum products as well as general cargo, and local costs for these would be reduced by the port’s reopening, port spokesman Nasser Al-Maghrabi said.

Kevin Libin: Oil didn’t cause the Fort McMurray fire — it helped save people’s lives
▻http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com/fp-comment/kevin-libin-oil-didnt-cause-the-fort-mcmurray-fire-it-helped-save-peo

Le Financialpost vous offre une belle page de #propagande

That’s a lot of speculation and conjecture about probable reasonable conclusions five decades out. Whatever you believe, though, it’s still a fact that large fires like this will happen, more or less, whether we use oil or we don’t. But as anyone who made it out of Fort Mac in time will tell you, whether you and your family survive the next fire — or any other natural disaster — depends on whether you have petroleum products or not.

That’s why obsessive climate zealots like Elizabeth May have it once again exactly backwards. The leader of the rapidly fading Green Party managed to provoke national media attention Wednesday for jumping on the crisis at Fort McMurray to demand Canadians “slash” fossil fuel consumption to prevent future wildfires. But no real scientist believes that wildfires can be completely prevented. Forests around Canadian townsites are already dangerously old and tindery, since they’re no longer allowed to regenerate through regular burning. And whether they wreak devastation across an uninhabited hillside or your local downtown depends as much on a sudden change in wind direction — as happened to Fort McMurray — as it does anything else. In fact, the only thing we can control is how prepared we are to escape them when they come. All the wind turbines and solar panels in the world won’t help rescue 88,000 people from a rapidly spreading inferno. For a miracle like that, we can only count on oil.

#FortMcMoney

Media round up on Egyptian economy - March/April 2016 - CEDEJ - Égypte
▻http://www.cedej-eg.org/spip.php?article898&var_mode=calcul

Saudi-Egyptian business relations

On the 7th April, Saudi Arabia’s King Salman arrived in Cairo for an exceptional five-day visit in Egypt. According to a press release of the International Cooperation Minister Sahar Nasr, both countries signed agreements accounting to US$25 billion during Salman’s stay in Egypt. Furthermore, they agreed on the creation of a 60 billion riyals (approx. US$16 billion) investment fund, infrastructure investments and the creation of an economic free zone in Sinai.
The highlight of the visit was the announcement of the construction of a bridge across the Red Sea, connecting Egypt and Saudi Arabia with a motorway. The bridge, which will be named after the Saudi King Salman, is intended to foster trade relations between the two countries.
The Egyptian presidency further announced that Egypt would return the islands of Sanafir and Teeran in the Red Sea to Saudi Arabia.

Ahead of the visit, the Saudi company Saudi Aramco concluded a US$23 billion deal with the Egyptian General Petroleum Corp over the provision of petroleum products to Egypt within the coming five years.

Together with the investments announced during King Salman’s visit, business relations between Saudi Arabia and Egypt brought up projects worth approximately US$45.65 billion in April alone. According to experts, the agreements are believed to be part of a new policy regarding Saudi financial aid to Egypt, focusing on loans instead of interest-free financial support.

Bahrain, Oman Cut Gas Subsidies | Al Jazeera America
▻http://america.aljazeera.com/articles/2016/1/12/bahrain-oman-cut-gas-subsidies-as-oil-hits-12-year-low.html

On Tuesday, gas prices at the pump rose by up to 60 percent in Bahrain, climbing to $1.25 per gallon for regular gasoline and $1.60 per gallon for premium fuel. Hundreds of people lined up at gas stations a day earlier to fill their cars before the higher prices went into effect.

The tiny island-nation in the Gulf ended subsidies on meat and poultry in October, increasing consumer prices between three and four-fold. Bahrain plans to make further cuts in electricity and water subsidies in March.

Earlier this month, Bahrain cut government subsidies for diesel and kerosene. 

Meanwhile, Oman said it would reduce gasoline subsidies starting Friday, with prices set to rise by 33 percent for premium fuel and 23 percent for regular fuel.

The moves come as crude prices closed Monday at $31.41 a barrel on the New York Mercantile Exchange — the lowest in 12 years.

The dip in global oil prices has cut into the revenues of oil-exporting countries, including many Gulf Arab states where citizens have become accustomed to generous government subsidies and state handouts.

Saudi Arabia in December raised petrol prices by 50 percent as part of subsidy cuts for petroleum products, power and water, after the country posted a record $98 billion budget deficit for 2015.

The United Arab Emirates has liberalized fuel prices, while Kuwait lifted subsidies on diesel and kerosene from the start of 2015.

Egypt received $10.6 billion from Gulf last fiscal year: minister
▻http://english.alarabiya.net/en/business/economy/2014/11/08

Egypt received $10.6 billion from Gulf last fiscal year: minister

Reuters, Cairo

Egypt received $10.6 billion in aid from Gulf states in the last fiscal year, the finance minister said on Saturday, the first time the government has put a total figure on how much its oil-rich allies spent to prop up the economy.

Of about 74 billion Egyptian pounds of aid received in the 2013-14 fiscal year, 53 billion pounds was in the form of petroleum products, with the remaining 21 billion pounds coming as cash grants, Hany Kadry Dimian told a news conference.

Saudi Arabia, the United Arab Emirates and Kuwait have provided Egypt with political and economic support since then-army chief Abdel Fattah al-Sisi ousted elected Islamist President Mohammad Mursi in July last year and led a crackdown on his supporters.

Sisi went on to win a presidential election in May and has promised to restore stability and growth to a country convulsed by turmoil since the 2011 overthrow of Hosni Mubarak.

Soon after Mursi’s removal, Gulf states pledged Egypt about $12 billion aid. In September 2013, the Egyptian Central Bank chief said about $7 billion of that had been received. But Saturday’s figures are the most concrete to date.

Although his critics say political freedoms have been eroded under Sisi, the government has passed a raft of reforms from subsidy cuts to tax hikes that have impressed business leaders.

Egypt’s government deficit shrank as a percentage of gross domestic product last year, Dimian said, a positive sign for a government that is trying to balance cutting its deficit and reviving growth.

The deficit was 255.4 billion pounds, or about 12.8 percent of GDP, in 2013-14, he said, compared to 13.7 percent of GDP, or 239.7 billion pounds, in the previous year.

Egypt’s spending on a generous subsidy system that is weighing on government finances rose by 10 % last year, however, to 187.7 billion pounds. Most of last year’s subsidies bill, 126 billion pounds, was for fuel, the minister said.

The government cut energy subsidies in July, the start of the current fiscal year, in a bid to better balance its books. But the move raised prices of gasoline, diesel and natural gas by up to 78 percent and caused a spike in inflation.

Wealthy Omanis face losing fuel subsidy - Industries - ArabianBusiness.com
▻http://www.arabianbusiness.com/wealthy-omanis-face-losing-fuel-subsidy-541261.html

Oman’s fuel subsidy could be reduced or cut altogether for high-income earners under a recommendation by a government committee set up to look at the sultanate’s costly energy subsidies, it was reported.
The government has been under pressure to scrap its subsidy for petroleum products, particularly petrol and diesel, which is expected to reach OMR860m ($2.23bn) in the 2014 budget, up from OMR740m ($1.92bn).
The figure constitutes 53 percent of the government’s total subsidy and participation budget of OMR1.61bn ($4.18bn), the Times of Oman newspaper reported.

$5.8 bn of fresh Gulf aid to Egypt - Ahram Online
▻http://english.ahram.org.eg/News/93048.aspx

Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, Egyptian daily newspaper Al-Ahram reported on Thursday.

The UAE is also expected to contribute $1.8 billion to the new aid package in the form of fuel shipments, the source added.

Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the oil-rich kingdom by Egypt’s interim Prime Minister Hazem El-Beblawi.

The Globe and Mail: Should taxes on petroleum products be higher? Fort McMoney players say ‘yes’

As part of the documentary game Fort McMoney, users get to help shape the future of Fort McMurray and Alberta’s oil sands. They do this by voting in surveys and weekly referendums. The results of these votes will affect a virtual version of Fort McMurray, letting users see the consequences of their decisions.

▻http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/should-taxes-on-petroleum-products-be-higher-fort-mcmoney-players-weigh-in/article15692958

#FortMcMoney #jeudoc #webdoc #fmmpresse #sables_bitumineux #pétrole

Improving U.S. oil production reaches milestone in October, agency says
▻http://www.washingtonpost.com/business/economy/improving-us-oil-production-reaches-milestone-in-october-agency-says/2013/11/13/dd01db86-4c97-11e3-9890-a1e0997fb0c0_story.html

The United States produced more crude oil in October than it imported for the first time since early 1995, as domestic shale oil output continued to surge and U.S. consumption of petroleum products remained relatively flat, the Energy Information Administration said Wednesday.

http://www.washingtonpost.com/rw/2010-2019/WashingtonPost/2013/11/14/National-Economy/Graphics/w-oil1114.jpg

The trend is expected to continue for another decade as U.S. domestic oil supplies grow and reliance on imports shrinks, easing one of the main sources of pressure on global oil markets.

The turnaround in U.S. oil fortunes has been rapid. Five years ago, U.S. oil production hit a 62-year low. Since then, domestic production has increased by more than 50 percent.

#énergie #pétrole #pétrole_de_schiste #Etats-Unis

Dozens die in #Sudan as protesters denounce rise in fuel prices
▻http://english.al-akhbar.com/content/dozens-die-sudan-protesters-denounce-rise-fuel-prices

http://english.al-akhbar.com/sites/default/files/imagecache/4cols/leading_images/289879-01-08.jpg

Sudanese protestors demonstrate in Khartoum’s twin city of Omdurman after the government announced steep price rises for petroleum products after suspending state subsidies as part of crucial economic reforms on 25 September 2013. (Photo: AFP)

At least 29 people have been killed in protests in Khartoum over fuel subsidy cuts, a medical source said on Thursday, making it the deadliest outbreak of unrest in Sudan’s capital in years. The latest protests began in the (...)

#Top_News

BBC News - EU eases Syria oil embargo to help opposition
▻http://www.bbc.co.uk/news/world-middle-east-22254996

On Monday, the Council of the European Union agreed to ease the oil embargo on Syria “so as to help the civilian population and the opposition”, according to a statement.

The governments of member states will now be able to authorise on a case-by-case basis three types of transactions - imports of oil and petroleum products; exports of key equipment and technology for the oil and gas industry to Syria; and investments in the Syrian oil industry.

Texas Refinery Is Saudi Foothold in the U.S. - NYTimes.com
▻http://www.nytimes.com/2013/04/05/business/texas-refinery-is-saudi-foothold-in-us-market.html?_r=0

The giant Motiva oil refinery, which just completed a $10 billion expansion that makes it the largest processor of gasoline, diesel and other petroleum products in the United States, is owned by Saudi Aramco and Royal Dutch Shell in a 50-50 partnership.

...the Saudis have helped the United States and the global economy by increasing exports to moderate oil prices and top up worldwide supplies as the West applies sanctions against Iran. Saudi Arabia has been able to tap into its spare capacity, mostly lower-quality heavy sour crudes, to stretch its exports. Most refineries cannot easily process those crude oils, but the expanded Motiva refinery here can, freeing other Saudi grades for other markets.

“The Saudis are securing a home for their heavy crude,” said Fadel Gheit, a senior oil analyst at Oppenheimer & Company. “But there is no question that security is also part of the equation. In Saudi Arabia, oil and politics always mix.”

...several experts say that Motiva guarantees that a large amount of Saudi oil will be imported. They also say that Saudi Aramco discounts Saudi crude sales to Motiva through various accounting adjustments and credit lines with generous terms.

“The Saudis are going to have to keep discounting the crude for the joint venture to buy it,” said David L. Goldwyn, who served as the State Department’s coordinator for international energy affairs in the first Obama administration. “That makes it probably first a Saudi geopolitical asset by guaranteeing some market share even at a discounted price.”

Arctic Voyages Rise Tenfold in Two Years » Ship & Bunker

►http://shipandbunker.com/news/world/438073-arctic-voyages-rise-tenfold-in-two-years
Thursday November 29, 2012

Ships use 40% less fuel by going through the Northern Sea Route

The number of vessels going through the Northern Sea Route (NSR) jumped from four in 2010 to 34 in 2011 and then to 46 this year, with petroleum products making up the largest part of the cargo transported, according to Barents Observer.

This year the total cargo transported on the route is 1.3 million tonnes, up 53 percent from last year, including 894,079 tonnes of diesel fuel, gas condensate, jet fuel, liquefied natural gas, and other petrol products.

Robert Fisk : It’s his fast-disappearing billions that will worry Assad, not words from Washington - Robert Fisk, Commentators - The Independent
►http://www.independent.co.uk/opinion/commentators/fisk/robert-fisk-its-his-fastdisappearing-billions-that-will-worry-assad-n

If “strong economic sanctions” mean a mere freeze on petroleum products of Syrian origin, the fact remains that Syria can scarcely produce enough oil for itself, let alone for export. A Swedish government agency recently concluded that Syria was largely unaffected by the world economic crisis – because it didn’t really have an economy.

L’idée qu’un pays de plus de 20 millions d’habitant n’aurait « pas vraiment d’économie » est une simplification qui sent bon le racisme orientaliste.

Dans la version anglaise d’Al-Akhbar aujourd’hui, un article décrit à peu près exactement le contraire :
Syria’s Banks : Boom or Bubble ? | Al Akhbar English
►http://english.al-akhbar.com/content/syria’s-banks-boom-or-bubble

In the past decade, the private banking sector in Syria grew visibly. Based on a recent report prepared by UK-based consulting firm Deloitte and obtained by Al-Akhbar, total assets in Syrian banks almost doubled between 2007 and 2010. This expansion was the result of the open-economy policy adopted by the regime at the beginning of the new millennium. But the current uprising across Syria has cast fresh doubts over the country’s financial future.

Intéressante également, la question de la dette :
Economy of Syria - Wikipedia, the free encyclopedia
►http://en.wikipedia.org/wiki/Economy_of_Syria#Foreign_Debt

Syria has made progress in easing its heavy foreign debt burden through bilateral rescheduling deals with virtually all of its key creditors in Europe.In December 2004, Syria and Poland reached an agreement by which Syria would pay $27 million out of the total $261.7 million debt. In January 2005, Russia and Syria signed a deal that wrote off nearly 80% of Syria’s debt to Russia, approximately €10.5 billion ($13 billion). The agreement left Syria with less than €3 billion (just over $3.6 billion) owed to Moscow. Half of it would be repaid over the next 10 years, while the rest would be paid into Russian accounts in Syrian banks and could be used for Russian investment projects in Syria and for buying Syrian products. This agreement was part of a weapons deal between Russia and Syria. And later that year Syria reached an agreement with Slovakia, and the Czech Republic to settle debt estimated at $1.6 billion. Again Syria was forgiven the bulk of its debt, in exchange for a one time payment of $150 million. Syria has also settled its debt with Iran and the World Bank.

Robert Fisk aurait peut-être plutôt dû supposer que la Syrie n’a pas été très affectée par la crise des dette publiques parce que elle n’a pas réellement de problème de dette :
– dette extérieure :
►http://www.indexmundi.com/g/g.aspx?c=sy&v=94&l=fr
– dette publique :
►http://fr.wikipedia.org/wiki/Liste_de_pays_par_dette_publique