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In Amenas Attack Highlights Algeria’s Vulnerability To Saharan Instability
...pressed their “full support for the government and people of Mali.” Certainly the alliance of al-Qaeda-linked Islamists and Tuareg rebels that seized control of northern Mali in early 2012 had their insurgency massively boosted by the flow of illicit arms from Libya’s 2011 conflict but this appears to be th...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Libya Attempts To Tackle Chronic Instability
...e-war levels of 1.5-1.6mn b/d (see graph). With the handful of technical problems left over from 2011’s fighting being dealt with, senior Libyan oil industry figures were confident output of 1.6-1.7mn b/d would be sustainable from the end of the first quarter this year; the key issue going forward wo...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Qatar Changes PSAs to JVs, Invests In Al-Shaheen
...cidental’s (Oxy) 105,000 b/d Idd al-Shargi concession. Since taking the helm of the Energy and Industry Ministry in January 2011, and chairmanship of state-owned QP, Muhammad al-Sada has led the drive to restore Qatari crude output. Qatar had under-invested in state-owned QP-operated fields, whose ou...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Fiscal Concerns Linger, Despite Easing Demand Growth Alarm
...oduction below 3mn b/d for the first time since March. At just under 30.3mn b/d, overall OPEC output is the lowest since October 2011, according to MEES estimates. This, the fifth consecutive month of Saudi production falls, comes amid a generally firm price environment, with monthly OPEC Basket pr...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Benchmark Crude Prices & OPEC Basket Components: 2012 Average Prices
...12 Q3 2012 2012 2011 WTI 95.49 93.36 92.74 88.26 86.85 88.25 92...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Iran’s Service Sector Buckles Under Sanctions Strain
...ts on multiple fronts. US-led pressure on oil sales is impacting export levels. According to MEES calculations, output is around 800,000 b/d down on 2011’s average 3.6mn b/d. And a senior politician recently acknowledged oil revenues in the fourth quarter of the current Iranian year (corresponding to 21...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Sudan Targeting 150,000 B/D Output By Year End
... SUDAN Sudan Targeting 150,000 B/D Output By Year End Since losing around three-quarters of its near 450,000 b/d former oil output to the South in 2011, Sudan has been pushing hard to raise its oil production and refining capacity. In December last ye...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Turkish-Qatari Gas Talks Stall As Balkan LNG Terminal Discussed
...ng-term gas supply contract that would help Turkey further limit its import dependence on Iranian gas. Turkey covered around 16% of its final gas demand from Iran last year according to recently published statistics from the International Energy Agency. In 2011 Iran exported 8.4 bcm to Turkey, making it...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Qatar Claims ‘GTL World Capital’ Status
...Ls and GTL products through 3Q12 and is currently producing and selling all GTL products from its product slate,” he noted. “Just last month we celebrated the 100th GTL cargo from Pearl during 2012.” Pearl GTL was inaugurated in November 2011 after an $18.5bn development, but was not expected to re...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
SEC Lines Up ACWA-Led Consortium For Rabigh-2 IPP
...pointed in June 2011. The consortium submitted the lowest bid of 7.416 hals/kwh of electricity, with a plant capacity of 1.96gw. Qurayyah was initially intended to be a heavy oil plant, but SEC opted instead for a gas-fired unit. The project is slated for start-up in mid-2014 and is expected to cost $1....
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
New Saudi Eastern Province Governor Appointed
...ea is at the epicenter of the Saudi oil industry and home to Ghawar, the world’s biggest oil field, the kingdom’s biggest oil processing center at Abqaiq, and Ras Tanura, location of its biggest refinery and export terminal. In 2011, King ‘Abd Allah sent troops to put down a Shi’ite-led pro-democracy mo...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
TAQA Shuts Down North Sea Platform
...veloping a 100mw hydroelectric plant in northern India. The joint venture partner is Jyoti Structures, an Indian power infrastructure company, which signed a Memorandum of Understanding with TAQA in July 2011 to look at investing in renewables. Carl Sheldon, TAQA’s Chief Executive Officer, said: “This in...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Sudan Secures $1.5Bn Chinese Loan
...onomy hammered by the loss of nearly three-quarters of its 450,000 b/d of oil production to South Sudan when the latter seceded in July 2011. Oil export revenues were estimated to have accounted for around 85% of Sudan’s total pre-secession export earnings, which in 1H11 amounted to around $7.5bn, ac...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Samba Projects Fall In Saudi Real GDP Growth In 2013-15
... SAUDI Samba Projects Fall In Saudi Real GDP Growth In 2013-15 Saudi Arabia’s real GDP growth is projected to fall to 3.3% in 2013-15 from the very high rates of 7% in 2012 and 8.5% in 2011, Samba said in its latest update on the Saudi economy. The main reason fo...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Kuwait Audit Bureau Estimates RFFG Assets At $261Bn
...742.35mn ($2.64bn) in the year ending 31 March 2011 and KD710.27mn ($2.52bn) in the previous year ending on 31 March 2010. The Audit Bureau called for the adoption of necessary measures to ensure stability in the value of portfolios and minimize possible risks. The report also noted that political ch...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013