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Eni Discovery Doubles Cyprus Reserves; Is It Enough To Make It A Gas Producer?
...antities – rumored at 6-8tcf, which would put it ahead of the 2011 Aphrodite discovery – will prove commercially viable. In favor of the latest discovery, dubbed Calypso after the nymph who enchanted Odysseus, is its operator and location. Whilst almost 180km southwest of Cyprus and in 1,000ms water de...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Qatar Sidesteps Trade Embargo With 20% Export Revenue Gain In 2017
...r 2018-22). Though the strategy has not been published the IMF says it has an “enhanced focus on economic diversification.” But given that the 2011-16 plan said “Nonhydrocarbon exports are expected to show strong gains,” it’s fair to say diversification is often planned but rarely implemented – in th...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Japan Big Winner As Saudi Arabia Cuts Crude Exports
...panese imports has also risen strongly, topping 40% for the first time in 2017, up from 30.5% in 2011. Not only is Japan importing more Saudi crude but the slate is becoming more tilted towards lighter, and more expensive grades. The key Saudi grade Japan took in 2017 was Arab Extra Light, which in...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Corruption Destroying Libya’s Future, Says Oil Chief
...ney are bad ones.” A team sent by NOC to the west of the country in late 2017 to investigate oil smuggling found that more than 80% of filling stations were not operational. “We suspect they are being used by smugglers as a front,” said Mr Sanalla. Most of the facilities had been built since 2011. NO...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Sabic Profits Boost From Rising Oil Prices As Horizons Expand With Clariant Buy
...ofits to the company’s “successful implementation of its transformation program.” The 28.5% increase in crude prices (to $52.68/B for 2017 for Saudi Arab Light) is a more obvious explanation (see chart). Sabic’s net profit remains well down on the 2011 peak of SR29bn, when Arab Light crude oil av...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018