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Iran Sanctions Crisis Deepens
...ging between Beijing and Tehran since the autumn of 2011. China, which imported last year around 555,000 b/d, has reduced its purchases by some 285,000 b/d in the first quarter of 2012. China is importing 100,000 b/d more of Saudi crude than in 2011. It also plans to increase its Iraqi imports by 50% co...
Volume: 55Issue: 07Published at Mon, 13 Feb 2012 -
Record $85/B Budget Oil Price In Critical Year For Iran
...IR4,000 trillion from IR3,550 trillion in 2011-12, and the general state budget, for which the exact figure was not disclosed. But the president said that government spending under the general budget was projected to fall by some 5.6% from the figure of IR1,770 trillion projected for 2011-12. He ex...
Volume: 55Issue: 07Published at Mon, 13 Feb 2012 -
OPEC Sees 2012 ‘Call’ Flip Into Negative Territory
...close the strategic Straits of Hormuz. Relations between Iran and OPEC lynchpin Saudi Arabia have grown increasingly frosty since the organization’s amicable December meeting (MEES, 19 December 2011). “Joint cooperation is important between all regional players,” the letter added. Mr Qasemi’s le...
Volume: 55Issue: 07Published at Mon, 13 Feb 2012 -
DEPA Looks To Link East Mediterranean Gas Discoveries With Greek Grid
...ime market for gas exported by Cyprus and Israel. “We [Greece] offer a market that is actually healthy and growing,” he said, pointing out that Greek demand for gas increased significantly from 3.6 bcm in 2010 to 4.5 bcm in 2011, and is expected to increase to about 7 bcm/y by 2020 according to Sa...
Volume: 55Issue: 07Published at Mon, 13 Feb 2012 -
OPEC Ramps Up Demand Projections As Supply Surges
...gues. “Their domestic demand is growing. I think we are going to need 1mn b/d extra this year from OPEC year-on-year,” he said. OPEC’s projections for world economic growth stand at 4.5% for 2010 and 3.9% for 2011, according to the February edition of OPEC’s Monthly Oil Market Report (MOMR). This is...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Regional Tumult Centers On Inequality
...ised by the private sector through investment in human capital in the 2011 budget (MEES, 27 December 2010). Makeovers And Subsidies Some of those in power have tried to appease protestors through government makeovers and subsidies. But Syria has gone the other way and taken a hardline stance. On...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Iraq’s Regions Look To Reap Rich Oil Dividend
...iji refinery, the focus is on improving product quality and gasoline output, rather than distillation capacity. There have been some delays. It had been hoped to boost gasoline output from 6,000 cmd (37,740 b/d) to 10,000 cmd (63,000 b/d) by mid-2010, but now this will only happen in 2011, Mr Sham'a sa...
Volume: 53Issue: 07Published at Mon, 15 Feb 2010 -
Gulf Bond Issuers Spooked By Greek Debt Woes
...anwhile, a public debt office being set up by the UAE’s Ministry of Finance is not expected to sell bonds until 2011. Abu Dhabi could go ahead and launch bonds, but anything outside of its remit would have a difficult passage, said market observers. “Dubai will have to a lot of work to do to get back the tr...
Volume: 53Issue: 07Published at Mon, 15 Feb 2010 -
Technip Wins Midor Coking Unit Contract, But Egypt’s New Refinery Plans Stall
...nuary). The new facilities at Musturud, which will produce 2.2mn tons/year of diesel and 700,000 t/y of high octane gasoline, were originally due on-stream in 2011, but this date is now expected to slip. For some years, Egypt has been seeking to exploit its strategic geographical location between Eu...
Volume: 52Issue: 07Published at Mon, 16 Feb 2009 -
PDO To Reverse Oil Output Declines By 2008 Amid Mounting Recovery Challenges
...ood programs at several fields including Marmul. “The next few years will be challenging years for PDO but we have plenty of projects in the pipeline that have been approved and financed by our shareholders and things are looking up. Post 2011, you are really going to see the effect of the EOR pr...
Volume: 50Issue: 07Published at Mon, 12 Feb 2007 -
Multiple Iranian LNG Projects A Result Of Politics, Not Practicality
...ch for 3mn tons/year of LNG, with deliveries scheduled to begin in 2011. However, MEES understands that outside POGC, the Pars LNG project is not thought likely to reach the FID stage at any point soon, even though this project is seen as being ahead of the field in terms of technical de...
Volume: 50Issue: 07Published at Mon, 12 Feb 2007