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Egypt Struggles With Gas Supply Challenge
...ost domestic production from deepwater deposits. Egypt’s gas production has edged lower for each of the past three years since peaking at 62.7bcm in 2009. Production of 60.6bcm for 2012 was 3% down on 2009 and a further 0.6bcm/year (60mn cfd) down on 2011 (see graph and table). Output for th...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
BG Egypt Output Hit By WDDM Compression Failure
...’s flagship WDDM project did rise by 9% to 6.5bcm for 2012 stemming three years of continuous decline including a precipitous 17% fall in 2011 (see graph). However the 2012 rebound was much more modest than the 7.7bcm rise BG had anticipated. Nine new development wells were drilled during 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Japanese, French, Move To Secure Abu Dhabi Concessions
...vember 2010). A Bigger Prize The November 2010 package helped secure the renewal of some small offshore concessions in early 2011. This time Tokyo is aiming for a bigger prize – a stake in major onshore producing fields when the ADCO concession ends. Upstream firm Inpex, through its Abu Dh...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Tokyo Visits Top Two Suppliers
...NA Breakdown By Grade, 2011 & 2012 2012 2011 2012 2011 '000 b/d % of total '00...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Benchmark Crudes & OSPs
...12 2012 2011 WTI 97.31 96.20 97.44 94.88 88.26 88.25 92.21 94...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Sanctions Cost Iran $40Bn In 2012, IEA Says
...e region of $40bn in oil export revenues last year, as its crude oil exports sunk to an average of 1.5mn b/d – down nearly 1mn b/d from 2011 levels, the International Energy Agency (IEA) said on 13 February. “A back-of-the-envelope calculation shows Iran lost just over $40bn in export revenues in 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
LNG: Qatar’s Russian Strategy – Compete Or Collaborate?
...2011 exported 14.4bcm to Asia-Pacific – 9.8bcm to Japan and 3.9bcm to South Korea. State-owned Gazprom signed a preliminary deal in September 2012 with the Japanese government, which will help fund a planned $13bn 10mn t/y LNG export terminal in Vladivostok – like Sakhalin only 3 days’ shipping to To...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
South Sudan Claims Progress On Own Oil Pipeline
...ighbor to the north signed a series of cooperation agreements in late September, which were – among other things – meant to pave the way for Southern Sudanese crude oil to resume its flow through Sudan and on to Port Sudan for export. Despite seceding from the north in July 2011, South Sudan is still hi...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Global Economic Weakness Pares Saudi Petchem Profits
...lf improved their profitability. Used in wide array of automotive, packaging, consumer durable, and construction products to name but a few, petrochemicals depend heavily on robust economic growth. The IMF put 2012’s global growth at 3.2%, which is down from 2011’s 3.9%. In January it also cu...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Renewables To Spearhead Multi-Billion Dollar Moroccan Capacity Drive
...igibility for a $6.3bn Precautionary and Liquidity Line arrangement over two years. And last September the African Development Bank approved $800mn in loans for the country’s solar and wind power sectors. Planned 2020 renewables capacity is almost equal to Morocco’s 2011 capacity of 6,377mw. Five pr...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Saudi Succession Remains Unclear
...wer to choose the crown prince (but which does not appear to have played much of a part in the appointment of a successor to Prince Sultan in 2011 or Prince Nayif in 2012). Perhaps all that can be concluded from the latest developments is that the Allegiance Commission, for whatever reasons, has yet to...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
UAE’s Dragon Oil Hikes Crude Output
... UAE UAE’s Dragon Oil Hikes Crude Output UAE-based hydrocarbons minnow, Dragon Oil, says it produced an average of 67,600 b/d of crude on average in 2012, though it increased its December average production to 73,500 b/d. This represented a 10% increase over 2011...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Syria Announces Cabinet Reshuffle As Economy Falters
...dustries. The petroleum sector’s loss is very high, with crude oil production falling by 47% after the imposition of sanctions and the exit of foreign companies in October 2011. Syrian Prime Minister Wail al-Halqi, who retains his post after the reshuffle, acknowledged in January that “acts of te...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
IMF Says Morocco’s 2012 Growth Slows To 3.2%
...ocks, in coordination with other macroeconomic and structural policies. Morocco: Selected Economic Indicators, 2010–18 2010 2011 2012 2013 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
UAE Attracted $8Bn Of Capital Inflows In 2012
...Maktum, told an open forum of government officials and citizens in Dubai. He explained that large amounts of capital left Egypt, Tunisia, Syria, Yemen and other Arab countries in search of safe havens after the outbreak of political and economic turmoil in early 2011. He noted that Arab ca...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
UAE Takes On The Muslim Brotherhood
...sed international Muslim Brotherhood organization. However, since the ‘Arab Spring’ of 2011 the activities and objectives of Jam’iyat al-Islah, particularly in the UAE, have changed dramatically, as did the Brotherhood’s goals, which moved from merely using the Gulf state as a source of fu...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013