Iran Eyes Growing Gas Shipments To Armenia, Turkey

...at Armenia would be able to transfer 0.5 bcm/year of Iranian gas to Georgia. BREAKTHROUGH ON TURKISH PRICING? Iranian and Turkish officials said on 2 February that the International Court of Arbitration had ruled that Iran should cut the cost of gas exports to Turkey backdated to 2011. Turkey ha...

Algeria Reaches Critical Crossroads

...e Arab Spring that started in 2011. The government responded to local protests through more spending via food and fuel subsidies, salaries increases for public jobs and housing and health assistance, at a time when oil prices were comfortably sitting above $100/B. But it is now paying dear for a fa...

The $100bn-Plus Cost Of Syria’s Civil War

...bn. This is almost as large as Syria’s pre-war GDP, the Bank notes in its latest Mena Quarterly Economic Brief. In addition, damage caused by the war to the “capital stock” in Syria between 2011 and 2014 was estimated at $72bn, the World Bank said, quoting a report by the local Syria Center for Po...

Ministry Claims $60bn Oil Sector Losses

...Syrian oil minister Sulaiman al-Abbas says that the country’s oil and gas sector has suffered “direct and indirect” losses of $60.4bn between 2011 and end-2015. The minister said that oil production from government-controlled areas averaged 9,500 b/d in 2015, just 2.5% of the pre-civil wa...

Iran’s Oil* Exports By Destination (‘000 B/D): Volumes Edge Up In January But Still 1.3mn B/D Down On 2011 Levels