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Libya Peace Talks Begin But Economy Slides Towards Ruin
...uld run out in May 2017. Libya’s budget deficit in 2014 was $19bn. The only way to replenish these reserves is by a resumption of oil exports in substantial volumes. This is unlikely. The Sidra and Ras Lanuf terminals, which have combined capacity of about 600,000 b/d, are still closed. NOC de...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Total Takes The Long-Term View On Global Lng Markets
...the political and military crisis between Ukraine and Russia – we hope that this geopolitical context will change sooner rather than later. We are still hoping for a start-up in 2017-18. We have already incorporated Yamal LNG output in our portfolio, and we are expecting good news from the US on...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Mideast To Add 1.7Mn B/D CDU Capacity By 2020; Highest Growth Worldwide-IEA
...ndar Abbas is reportedly nearing completion and the first phase is expected to be commissioned in 2017, significantly increasing the country’s gasoline and diesel output. Once the three phases of the project are completed, Iran could become a net gasoline exporter,” the IEA says. Iran imported a record 17...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Hyundai Awards Subcontracts For Abu Dhabi’s Mirfa
...d extend motor life. Mirfa will have a capacity of 1.6GW and 240,000 cmd. It is scheduled to be brought online in phases during 2016 and 2017. The power and desalination units will respectively incorporate CCGT and reverse osmosis technology. The plant will require a supply of 230mn cfd of ga...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
IEA Slashes Non-OPEC Supply Growth projections
....54mn b/d in 2017 and 32.12mn b/d in 2020. Overall, the IEA expects the ‘Call on OPEC’ to increase 2.68mn b/d between 2014 and 2020. And with total capacity in the group’s 12 members rising 1.22mn b/d over this period, “barring any disruption, the group’s spare production capacity is expected to remain am...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Abu Dhabi Plays High Stakes Oil Game
...noc) to help evaluate the Hail Dalmah and Ghasha fields in a program that will run until 2017. Houston-based Oxy will have a 30% stake in a joint venture with Adnoc to evaluate development prospects for the two fields by running 3D seismic surveys, drill appraisal wells and conduct engineering studies fo...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015