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Total’s 50-50 ADCO Hopes
...UAE Total’s 50-50 ADCO Hopes French major Total – like the rest of the former participants in the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession – faces 2014 without ADCO volumes to report to shareholders. Though production coming onstream elsewhere will li...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Iraq Awakens Sleeping Giant At Hamrin
...ist. Iraq’s oil ministry originally envisaged increasing output from northern fields to 1.3mn b/d by the end of 2014, though given the rate of decline from Kirkuk, where production has fallen below 300,000 b/d from a peak of 1mn b/d, the goal is unlikely to be achieved for several years. An additional co...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Talisman Set To Shed KRG Assets
...st year that it planned to declare commerciality of Kurdamir some time in 2014. The intention to offload Kurdish assets was flagged when Talisman announced $3bn in planned asset sales last year even before the purchase of a 6% stake in the Toronto-listed company by activist investor Carl Icahn (ME...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
MENA Active Drilling Rigs January 2014*
...MENA Active Drilling Rigs January 2014* January 2014 br...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Algerian Electricity: Ambitious Plans Vs Tricky Reality
...e state obliged to recapitalize these companies regularly.” Despite the constraint on earnings, Mr Boutarfa says that investment in generating capacity, transmission and distribution will enable Sonelgaz to “pass easily” anticipated 2014 peak summer demand of 12.5GW. Sonelgaz says Algerian ge...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Obama Hopes Saudi Visit Will Mend Fences
...ked both Saudi Arabia and Kuwait to extend credit facilities for the $10bn of oil they will supply in 2014. The two OPEC states supply around 75% of Pakistan’s crude and oil product imports. Saudi Arabia has been asked to extend its credit facilities for oil supply to one year from the current 30 da...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
OPEC, EIA Boost 2014 World Oil Demand Outlooks
...OPEC OPEC, EIA Boost 2014 World Oil Demand Outlooks OPEC has revised upwards its projection for world oil demand in 2014, despite a slowdown in some key emerging economies. Even with this revision the organization says it is erring on the conservative side; if the economic co...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Enigmas Of The Islamic State Of Iraq And The Levant
...hadist movements in Syria consisted initially of words. This was followed by open warfare between the militias, over territory, oil smuggling and leadership. Since early January 2014, ISIL won the upper hand over several militant Jihadist militias, Jaish al-Mujahidin, the Islamic Front, and the Syrian Re...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Kuwait Energy Has Breakout Year, Complicated Future
...close the year with yet another strong quarterly performance in revenue and production and look forward to continued operational success in 2014.” In Egypt, the star performer was the East Ras Qattara concession where gross output averaged 21,200 b/d for the second half of 2013 (KEC’s 49.5% st...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Egypt: New UAE-Fueled Stimulus Package
...r this purpose was signed by the SFD and the Egyptian Ministry of International Cooperation. A source at the Central Bank of Egypt (CBE) said last month that Egypt will return a further $3bn to Qatar by the end of 2014 - $500mn in October and $2.5bn in November. This would then reduce Qatar’s ai...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Budget Ratification Boosts Rohani’s Prospects
...eakeven for 2014 (MEES, 11 October). When Mr Rohani first presented his budget to parliament on 8 December, he said that it aimed to curb recurrent spending and focus on capital investment. The general budget allocates IR200 trillion ($8bn) for development, with priority for the completion of semi-fi...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
IMF Visits Tehran
...ntraction to diminish in the second half of the year, so that the full year decline in GDP is 1-2%. The IMF also points out that 12-month inflation has dropped rapidly from about 45% in July 2013 to below 30% by end-year. Optimistically it adds that inflation could fall to 20-25% by March 2014. Lo...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014