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Iraq’s West Qurna-2: Start-Up By May, 400,000 b/d By Fall
...rrel West Qurna-2 is one of the world’s largest undeveloped structures. It will account for the largest slice of Iraq’s planned 2014 output additions. Lukoil has a 75% operator’s stake in the West Qurna-2 consortium, having taken over the 18.75% relinquished by Norway’s Statoil in mid-2012. Iraq’s st...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Iraq, KRG Narrow Differences In Oil Row But Final Accord Elusive
...ys. “Our suggestion was that the KRG can pay whatever they feel they need to pay the contractors from their share of the budget, which is about 17% in the 2014 budget. And the contracts that were signed by the ministry of oil in Iraq will be paid from the 83% of the budget. This seems to be very fair an...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Cash Needed For Provinces
...IRAQ Cash Needed For Provinces The Iraqi government will have to borrow ID9 trillion ($7.7bn) in 2014 to be able to pay oil producing governorates $5 for every barrel of oil produced or refined locally, and for every 5,300cu ft of gas produced, if the federal parliament ap...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
ExxonMobil Mum On Abu Dhabi Onshore Plans
...owth for Exxon in 2014. Shell, which also announced disappointing Q4 earnings as it plans to divest $15bn in assets over the next two years, also expects production losses amounting to 200,000boe/d in the first quarter, largely due to the loss of 155,000 b/d of production from the expired ADCO co...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Dubai Moves On Jalilah
...110km of pipeline. The fast-track project is scheduled for completion in the second half of 2014, the company said. Technip has already completed subsea projects for DPE at the South West Fateh and Falah fields, two of Dubai’s four producing oilfields. The four structures contain an estimated 4b...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Petchems Firms Foster ‘Made In Saudi Arabia’
...wever, extensions to the bidding deadline mean the 2014 official start-up target may be compromised. SABIC also plans to invite bids for an EPC contract to build a 200,000 t/y acrylonitrile plant at Jubail. SME Program While SABIC has opened R&D centers in China and India to support its push into la...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Dubai’s Dewa Adding 400mw
...d 140mn gal/day (636,000 cmd) of water. The station’s current 2.06GW capacity comes from 6x234MW gas turbines and 3x218MW steam units. M Station, completed last year, is the largest power and desalination plant in the UAE (MEES, 12 April 2013). DEWA’s total 2014 budget is Dh20.56bn (5.55bn), of...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Turkey Power Projects Pipeline Seeks To Maintain Fuel Balance
...gned an MOU for a 10-year program that would start with a 1.44GW plant (MEES, 11 January 2013). TAQA subsequently deferred its investment decision to 2014 because of the political schism that emerged between the two countries after the military coup that deposed President Mursi in Egypt (MEES, 13 Se...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...intain top spot for 2014 as a whole; indeed, give or take the odd month, falling US imports mean China is likely to hold this position for decades to come. Beijing Diversifies OPEC supplies to China totaled 3.59mn b/d in 2013, accounting for 63.6% of total imports. This is down slightly from the 65...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Force Majeure A Reminder Of Risks For Energy Producers In Egypt
...ving initially hoped to bring the fields online this year. Neither of the blocks are part of TransGlobe’s 2014 production forecast of 20,500 b/d. However, PGNiG’s parting shot stands out for giving political risk as a reason for the company’s departure from Egypt. IOCs have been careful to play do...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Repsol Defies Libya Storms
...LIBYA Repsol Defies Libya Storms Spain’s Repsol has made Libya a focal point of its 2014 exploration drive, in spite of the ongoing disruptions to oil exports that are keeping the bulk of the country’s production offline. Repsol aims to sink six exploration wells into Li...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Oil Service Companies Eye Middle East For 2014 Growth
...REGIONAL Oil Service Companies Eye Middle East For 2014 Growth Service firms plan to carry through 2013 Middle East growth into 2014. Three of the largest international oil services companies recently reported 2013 results. Despite two of them being hit by disruptions in...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
UN Sees Polarized Performance In Arab Region
...ited Nation’s ESCWA Economic Development and Globalization Division. Speaking at a press conference on 24 January to launch the UN’s The World Economic Situation and Prospects 2014, Mr Dardari, who is also the program’s Chief Economist, said major energy exporters, mainly of the Gulf Cooperation Co...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014