Glossary of Terms
Latest NewsKuwait Energy Structure and Opportunities Kuwait surpassed the 3 million b/d production threshold in 2Q 2012; the target is 4 million b/d by 2020. However, Kuwait needs to develop heavy oil reserves to raise production sustainably. Oil demand, non-OPEC production and oil prices will determine Kuwait's excess capacity by 2018. The country continues to invest in energy sources alternative to oil but hydrocarbons are set to remain the mainstay of Kuwait’s energy mix. Latin America - Window of Opportunities for US RefinersLatin America experiences buoyant demand for oil products but suffers from an energy deficit. Capacity constraints will endure until 2018 at least because new refineries are delayed. Demand for US oil products has subsequently soared over the past five years and created a window of opportunities for US refiners. However, this window will not remain open indefinitely. LNG Market Snapshot12 new LNG carrier orders in April and two in May so far; the current active fleet stands at 349 vessels; the order book at 100 vessels. Global LNG supply and demand have decreased over March 2013. LNG prices in Japan continue to show signs of softening. Potential threat to Australian LNG projects if spread between regional spot and long-term LNG prices develops. |
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