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Algeria Set For LNG Capacity Hike
...geria’s core European customers (notwithstanding Turkey’s plans to at least maintain current volumes – see below). For 2011 Algeria exported LNG equivalent to 17.3bcm of gas, less than half Sonatrach’s claimed 42bcm/y liquefaction capacity and down more than 10% on 19.3bcm for 2010, which in tu...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Higher Oil Prices Adopted In 2013 Budgets
...imulus programs put in place to appease Arab Spring protestors. Higher market prices have also provided encouragement. The OPEC Basket price climbed to a yearly average of $109.45/B last year versus 2011’s $107.46/B. This means OPEC producers will surpass their 2011 record $1 trillion oil revenue ja...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Benchmark Crude Prices & Opec Basket Price 2009-2012
...12 Q3 2012 2012 2011 WTI 93.82 92.74 89.97 88.26 86.85 88.25 92...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Aramco Eyes Seven-Well Red Sea Drilling Drive
...aditional Eastern Province heartland. Aramco has boosted gas reserves for at least 12 straight years from 1999 to 2011. And raw gas production has risen for all but one of those years (MEES, 4 June 2012). Nevertheless a gas shortage looms for the Kingdom, with liquids burning for power generation on the in...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
UAE Misses 3Mn B/D Crude Target, Set To Become Net Gas Importer
...rned 3.21mn barrels of crude and 2.74mn barrels of gasoil in power stations (MEES, 23 April 2012). This is expected to have increased in 2011 – when peak power demand leapt 14%, and to have risen further to meet 2012’s expected 10% growth. State-owned IPIC and Mubadala, in a 50:50 joint ve...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Ishai Drilling Disappointment May Change Israel’s Gas Export Views
...place in Ishai is shifting the balance of power in favor of the conservationist lobby inside Israel’s fractious decision-making mechanism. Estimates published by Ryder Scott in June 2012, which were based on detailed 3D seismic studies completed as late as June 2011, projected a very high pr...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
MENA Active Drilling Rigs, December 2012
...cember 2012 breakdown* Dec 2012 Nov 2012 Dec/ Nov Oct 2012 Dec 2011 2012/ 2011...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Gulf Petchems Producers Push Downstream Expansion
...ns) 2010 2011 Saudi Arabia 70 78 Iran 40† 42.7‡ Qatar 10.5 12 Om...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Gulf Petchems Producers Push Downstream Expansion
...ns) 2010 2011 Saudi Arabia 70 78 Iran 40† 42.7‡ Qatar 10.5 12 Om...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Turkey’s EÜAŞ And TAQA Sign Powergen/Mining Deal
...mmissioning the new unit by 2015. TAQA has non-coal power plants in the UAE (Abu Dhabi and Fujairah), Oman, Saudi Arabia, the Kurdistan region of Iraq, the US and Ghana. Its total global power generation capacity in 2011 was 15.413gw. The TAQA spokesperson said that, besides the Turkey project and th...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
AES Jordan Awards Tri-Fuel Plant Contract To Wärtsilä
...avy fuel oil (HFO), distillates or natural gas as fuel. It is scheduled to be operational by July 2014. Jordan’s gas supply from Egypt has been erratic since the overthrow of the Mubarak regime in early 2011, forcing it to keep its options open as it pushes to expand generating capacity. Wä...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Iran Oil Ministry Refutes Export Plunge
...l, oil products and condensate. According to Mr Kateb, for the next Iranian year (21 March 2013-20 March 2014) the Oil Ministry has reportedly forecast exports of approximately 1.5mn b/d, significantly lower than 2011’s 2.2mn b/d. The International Energy Agency (IEA) in its latest monthly oi...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Oman Boosts 2013 Budget Expenditure 29%, Hikes Oil Price Assumption
...velopment projects and OR1.3bn ($3.4bn) earmarked for capital expenditure to boost production in the oil and gas sector. Oman 2010-13 Budgets (OR Mn) 2013 2012 % Change 2011...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Jordan 2013 Budget Targets Projects, But Also Austerity
...mes, with its budget deficit widening as a result of disruptions in the flow of Egyptian gas to the kingdom via the Arab Gas Pipeline (AGP) in the aftermath of the January 2011 revolution. Until then, Jordan had mainly used the gas, which was available at preferential prices, for power generation, but th...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Syria Issues 2013 Budget Law
...r in the country, the issue of a state budget merely appears intended to stress that business is as usual. Also with the sharp depreciation in the official value of the Syrian pound (from $1=S£47 in March 2011 to $1=S£79 currently), coupled with a high inflation rate of over 40%, comparison of the 20...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Kuwait Oil Minister Pushes Refinery Expansion Despite Political Attacks
...rliament cancelled it.” The parliamentary questions suggest that the new parliament may continue the investigations started by previous parliaments into Shell’s $800mn consultancy deal with state-owned upstream firm KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011), and the ca...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Challenges for Libya’s upstream sector
...nvince foreign firms to resume exploration in Libya. Key amongst the issues is the security situation, which links to the political future of Libya. The Return Of Libyan Production The successful return of Libyan oil production has been striking. In June 2011, at the height of the co...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Barclays Capital Sees 2010 As ‘Bridging Year’ For Oil Market
...cording to the 30 December Weekly Oil Data Review. The year will be a transition between the demand-side weakness of 2009 and the return to supply-side tightness in 2011, it said. “We expect it to be a year in which none of the key fundamentals will be dominant enough to cast all other factors aside,” Pa...
Volume: 53Issue: 02Published at Mon, 11 Jan 2010 -
ABB Wins Substation Contract For First Saudi IPP
...0km north of Jiddah, and which will be developed on a build-own-operate (BOO) basis. The plant is expected to be completed by 2011, and will supply electricity to Saudi Electric Company (SEC) to meet the region’s growing industrial and residential power demands....
Volume: 53Issue: 02Published at Mon, 11 Jan 2010 -
Algeria Facing Gas Supply Squeeze As Export Projects Unfold
...rgets. The LNG projects that Dr Feghouli was referring to are the 4.5mn tons/year plant at Skikda, being built by US firm KBR, and a 4.7mn t/y plant at Arzew, for which a joint venture between Italy’s Snamprogetti and Japan’s Chiyoda won the contract last July. They are due for completion in November 2011...
Volume: 52Issue: 02Published at Mon, 12 Jan 2009