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Iraq Expects West Qurna-2 Start-Up By End-February
...d consortium, is one of two key Iraqi oil field projects that are expected to contribute to the bulk of expected additional production capacity in 2014. Meanwhile, the first phase of export capacity expansion work has been completed, raising southern export capacity to 3mn b/d from 2.7mn b/d pr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Petroceltic Focuses On North Africa As Investment And Production are Set To Slump
...EGYPT Petroceltic Focuses On North Africa As Investment And Production are Set To Slump Irish independent Petroceltic is anticipating lower production and investment volumes in 2014, as it seeks to move forward on a key Algerian gas project and focuses its spending on Eg...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Morocco Urges Caution On Exploration
...ve further wells on the permit during 2014. These will be identified with the aid of recently completed 3D seismic, Gulfsands says. Drilling is currently underway on minnow Longreach’s Sidi Mokhtar permit. “The exploration process is long, expensive and high risk… it often requires very many we...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
KRG Finalizes Marketing For End-January Independent Crude Exports
...0,000 b/d for Kurdish exports in its 2014 budget. The KRG says it plans to begin exports at a rate of 300,000 b/d, rising to 400,000 b/d by end-2014. What does seem clear from all the diplomatic traffic between Erbil and Baghdad, as well as the change in tone by Iraqi officials in recent weeks, is that the fe...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Saudi Starts 4GW CCGT Plant, Further 30GW Planned By 2018
...place by end-2018. SEC’s 2012 annual report says its planned generation projects until 2021 include 20.4GW of steam plants, 3.6GW of CCGTs and 3.77GW of upgrades for combined-cycle operation. Other key Saudi power projects set to come online by 2014 are state oil firm Saudi Aramco’s giant 4GW in...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Turkish Wind Power Soars With 124MW Of New Deals
...Hatay province. Deliveries will take place in 2014-15 and start-up is scheduled for February 2015. Acciona says the turbines are designed for sites with low wind speeds. The contract includes operation and maintenance for 10 years. Also in Hatay, Denmark’s Vestas has received an order from Tu...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
OPEC Output Recovers In December On Gulf Boosts
...wait’s Governor to OPEC Muhammad al-Shatti said in state-owned Kuwait Petroleum Corporation’s latest newsletter. “OPEC is expected to produce at below the group’s agreed ceiling of 30mn b/d in the first quarter of 2014, and that is a major supporter for the stability of current price levels,” he sa...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Kuwait Budget Surplus Falls In First Half 2013-14
...e rise in expenditure. The IMF said last December that the fiscal and current account surpluses are expected to remain large in 2014 and that at a constant level of oil production real GDP growth will rise to around 3%. But the IMF cautions that it is important to restrain current expenditure gr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Egypt In 2014: Referendum And Elections
...EGYPT Egypt In 2014: Referendum And Elections In 2014 Egypt is planning a referendum on a new constitution, as well as presidential and parliamentary elections, as part of a campaign to legitimize the overthrow of the Muslim Brotherhood government under former President Mu...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Oman’s 2014 Budget Aims To Curb State Expenditure
...OMAN Oman’s 2014 Budget Aims To Curb State Expenditure Oman’s freshly-released 2014 budget envisages a modest increase of 5.0% in total expenditure to OR13.5bn ($35.1bn), compared to a 29% increase in 2013 over 2012. Oman officially projects inflation at 1.4% for 2014 – le...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Nine Approaches To Counter The Emergence Of Unconventional Oil
...d demand will continue to widen, exceeding approximately 1.5mn b/d in 2013 and 2014. Accordingly, the oil market has become a buyer’s market; customers have an advantage over sellers in price negotiations. In response to customers’ demands, oil sellers might reduce crude oil prices further in or...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Algeria Set For LNG Capacity Hike
...ntract to import LNG equivalent to 4bcm/y of gas. The deal between Turkish state firm Botas and its Algerian compatriot Sonatrach was first inked in 1995 and had been due to expire in 2014. Yildiz also expressed a desire that ultimately volumes could be increased to 6bcm/y, an option for which is...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Higher Oil Prices Adopted In 2013 Budgets
...ojections. Unsurprisingly, it has not disclosed an oil price. Iran is increasingly isolated by US and EU sanctions, and its oil exports have tumbled which will make for fraught 2013 budget deliberations – its 2013 budget will run from 21 March 2013 to 20 March 2014. While the outlook for GCC pr...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Aramco Eyes Seven-Well Red Sea Drilling Drive
...e on stream in 2014 – are all non-associated offshore gas fields. By contrast, exploration onshore in the Empty Quarter has proved largely disappointing. Aramco’s next onshore gas increment, the 75mn cfd Midyan field, is of considerably more modest proportions. The shift offshore and to non-as...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
UAE Misses 3Mn B/D Crude Target, Set To Become Net Gas Importer
...ergy pipeline, LNG via Dubai, and plans to import 600mn cfd of LNG at Fujairah by 2014, and this is set to increase. At the same time the UAE exports LNG to Japan from Abu Dhabi. According to BP’s Statistical Review of World Energy the UAE has 6 trillion cu ms of proved gas reserves – the se...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Gas Prices To Double For Omani Industries
...dustrial gas consumers and reached an agreement to amend prices as follows: From $1.50/mn BTU in 2012, it will rise to $2/mn BTU in 2013, and further to $2.50/mn BTU in 2014,” the minister was quoted as saying by the local media. “In 2015, the price of natural gas would be $3/mn BTU, and thereafter it wo...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Turkey’s EÜAŞ And TAQA Sign Powergen/Mining Deal
...10 TAQA awarded an engineering, procurement and construction (EPC) contract for the expansion to Japan’s Mitsui and Company and South Korea’s Daewoo Engineering and Construction. The spokesperson said that commissioning of Units 5 and 6 is scheduled for completion in December 2013 and April 2014 re...
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 -
Jordan 2013 Budget Targets Projects, But Also Austerity
...e government’s policy of curbing operational costs, especially for energy consumption, water, telecoms and travel expenses. He expects the fiscal deficit to fall to 4.8% of GDP in 2014 and to 3.2% in 2015. Loss Of Egyptian Gas Increases Fiscal Deficit Jordan is currently facing hard ti...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013