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Iran Back in Business, But Concerns Remain
...art). Japan increased imports of Iranian crude in January for the third straight month, with its 194,000 b/d, the highest since March 2015. Both countries’ imports in 2015 were about half the level in 2011 before sanctions against Iran were tightened significantly, and Iran will be seeking to increase ex...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Taq Taq Reserves Downgrade Hits KRG And Genel Energy Plans
...er 100,000 b/d, close to a quarter of the region’s total output. Genel shares tumbled by around 40% after it announced on 29 February that Taq Taq’s original 2P reserves were being cut by 48%. The original 2P reserves as calculated in 2011 were 683mn barrels, but this was revised down to 356mn ba...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
South Sudan Oil Revenues Collapse
...serves and infrastructure incurred when the south seceded from Sudan in July 2011 (see tables 3 & 4). This latter agreement, known as the Transitional Financial Arrangement (TFA), covered the repayment of $3.028bn over a three and a half year period, due to expire in December 2016. There is no chance of...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Aramco Dusts Off Plans For $2bn Ras Tanura Clean Fuels Project
...at at least three rounds of bidding for the Ras Tanura upgrade have been conducted already without any EPC awards. The project is expected to cost $2bn. Aramco awarded front end and engineering design (FEED) for the Ras Tanura clean fuels upgrade to US firm Jacobs Engineering in 2011, under the Ge...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Iranian Election Prompts Optimism On Investment
...esident Ali Akbar Hashemi Rafsanjani secured the most votes overall, while Mr Rohani was also voted in; both were already members of the assembly and Mr Rafsanjani had previously served as its chairman from 2007 to 2011. Elections for the assembly are held every eight years and the body is co...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Libya: Companies Have Only Bad News, Apart From Eni
...8mn cfd, the highest level since the 2011 ouster of Mu’ammar al-Qadhafi. In the second quarter of the year they averaged almost 800mn cfd – within touching distance of pre-Revolution levels. However, volumes slumped to just 450-460mn cfd in December and January before a modest rebound to 486mn cfd in Fe...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Egypt Taps Expat Savings
...ood at $16.5bn at end-February, less than half the $34bn level before the 2011 revolution. The “Biladi” certificates will be marketed by three state-owned Egyptian banks: National Bank of Egypt (NBE), Banque du Caire and Banque Misr. Immigration Minister Nabila Makram says they will provide ov...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016