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Iraqi Oil Sector Set For Change As Political Crisis Intensifies
...art from official airports. Decision making has been far too slow – Lukoil and Statoil are still waiting on a cabinet green light for a 400,000 b/d first phase of West Qurna-2, which should have been approved months ago (MEES, 5 December 2011). These issues, coupled with major differences with Ir...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Iran Sanctions Trigger Economic Chaos, Food Shortages And Protests
...cked the government in 2009. EU Struggles To Tighten The Oil Screw EU Foreign Ministers have urgently rescheduled a meeting that aims to achieve a European boycott of Iranian oil – moving it from 30 January to 23 January. The EU imported in the first half of 2011 an average of about 450,000 b/d of...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
South Pars Reservoir Faces Challenges
...South Pars will be completed. The experience with the first 10 phases suggests that delays are likely, especially given the escalation in sanctions.” The IEA said in late 2011 that Iran’s energy industry is “clearly under stress from further wide-ranging sanctions imposed by the international co...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Oil Producers Adopt Higher Crude Prices For 2012 Budgets
...MEES Agenda Oil Producers Adopt Higher Crude Prices For 2012 Budgets With the OPEC Basket price averaging $112.11/B last year versus 2010’s $107.46/B many MENA countries posted a surplus for 2011 and were encouraged to hike the oil price forecast they will use in their 2012 budgets. Pr...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Israel’s Delek Proposes Building LNG Facility In Cyprus
...gin an exploratory well in Block 12 before the end of 2011. The government of Cyprus is expected to hold its second offshore bidding round by year’s end. Cypriot energy officials have previously told MEES that it may prove better for the success of the next licensing round if Nicosia were to wait for th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Rumaila Developers Announce Output Milestone
...d problems with a reformer unit for gasoline production are limiting throughputs to around 200,000 b/d, MEES understands. The ministry is working on fixing this. “By the end of 2011, we should go to or close to nameplate capacity at Baiji,” Iraqi Deputy Minister of Oil for the Downstream, Ahmad al-Sh...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Utenov: Kazakstan’s Strategic Oil Exports Outlook
...ginning of construction under the CPC Expansion Project is planned for 2011. It is planned to implement the expansion in three stages, fully completing the project by 2015. Q: Which are the main Kazakh fields that will support CPC’s expansion? A: Mainly the Tengiz, Karachaganak and possibly Ka...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Oil Producers Adopt Higher Crude Prices For 2011 Budgets
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL/ OIL PRICES Oil Producers Adopt Higher Crude Prices For 2011 Budgets The climb in crude oil prices has allowed many MENA countries to post a budget surplus for 2010 and hike the price forecast they will use in th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Dubai Maintains Fiscal Budget Stimulus Despite Debt Woes
...in a better financial position in 2011 because most of its commitments on infrastructure projects would have been met. The statement also provided details of allocations to the following major sectors in 2010: Dh17.45bn ($4,751mn), or 49% of the total budget for the economic sector, in...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Qatar Eyes LNG ‘Mega-Train’ Finishing Line
...mpleted and commissioned by June of this year and Train 7 hopefully by September.” The mega-trains require up to a couple of months to go up to full capacity. There are concerns full production at Train 7 might slip into 2011 (MEES, 30 November, 2009). But “a delay of a month or two is not a big de...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Saudi Downstream Drive Enters Critical Phase
...ability of some to the limit and delays prompted by the need to reduce costs have moved start-up dates on the new generation of Saudi refineries to late-2012-early-2013 from original 2011 start-up dates. Front-end engineering and design (FEED) for the kingdom’s two flagship export refinery joint ve...
Volume: 51Issue: 03Published at Mon, 21 Jan 2008 -
Algeria Set To Launch Seventh Bid Round In Upstream Gas Push
...ich is now expected in late 2011, three years later than originally thought, an Anadarko spokesman told MEES: “Given the licence [problems] with Sonatrach and trying to recoup money from the excess profits tax, that’s bound to have an impact on the timing of the project.” Another reason for the de...
Volume: 51Issue: 03Published at Mon, 21 Jan 2008 -
Iran Petroleum Crisis Claims “Fundamentally Unsound”, Says Fesharaki
...port decline rate as the sum of its rates of reservoir depletion and domestic demand growth, and calculates this as 10-12%. He observes: “Even if a relatively optimistic schedule of future capacity addition is met, the ratio of 2011 to 2006 exports will be only 0.40-0.52. A more probable scenario is...
Volume: 50Issue: 03Published at Mon, 15 Jan 2007