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Indian ‘Compliance’ Beginning To Hit Iran Oil Sales
...ta, having only recently just come out with figures for December 2014. Iran’s January deliveries figure is down 11% on the 1.27mn b/d it shipped in 2014 – which is already well down on an average of 2.53mn b/d in 2011 – before the latest round of US and EU sanctions on Iranian oil exports were im...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Rabigh Shutdown To Curb Saudi Refining Surge
...pected to take total Saudi capacity to 2.91mn b/d by the end of 2015 (MEES, 27 February). Petro Rabigh says the shutdown will allow the second periodic maintenance since 2011. Such closures are “carried out every four years as a regular practice in the refining and petrochemicals industry.” The co...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Dea Looks To Expand With $10Bn War Chest
...ainst Russia. London cited the example of the North Sea’s Rhum field – 50% owned by Iran’s NIOC – where production was halted by western sanctions on Iran in 2011. Mr Davey says that L1 will likely have to sell on the North Sea assets to a third party. The transaction had been in doubt since la...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Egypt Seeks Growth At Sharm El-Shaikh Conference
...stability following the February 2011 ouster of Husni Mubarak. Foreign direct investment has yet to recover. Egypt will use the conference to showcase its “Sustainable Development Strategy 2030” as well as its 2014-19 economic and social reform plan, which includes new legislation to attract investors to...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Jordan Slashes Spending In Bid To Halve Deficit
...l prices remain at their current level of around $60/B, Nepco’s 2015 losses would fall to around JD600mn ($846mn), he says. Jordan imports around 96% of its energy needs. Nepco has suffered cumulative losses of JD4.5bn ($6.3bn) since Egyptian gas supplies began to dwindle in 2011. To make up...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Qatar’s GTL Output To Fall As Pearl And Oryx Plants Undergo Maintenance
...of the first train in early 2011 and the first commercial cargo of gasoil in June 2011. Each shutdown will defer production of roughly 4.2mn barrels of GTL liquids and 3.6mn barrels of NGLs. Shell has not detailed the work being carried out during the shutdowns. However, any non-routine wo...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Oman Targeting Steady Crude Output Through 2018
...around 23,000 b/d, up from 18,700 b/d in 2011. Petrogas operates the Rima cluster of fields in the sultanate’s east, at which it has boosted output from 2,200 b/d in 2006 to 14,300 b/d in 2012. Output at Rima has since dropped to 11,000 b/d since as a result of “natural decline.” Medco’s co...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Jordan Advances Gas Strategy With Shell LNG Supply Deal
...peated attacks on the line in the restive Sinai cut exports to around 100mn cfd for 2011 and 2012 and zero since July last year. Mr Hamid says that the cost of importing fuel oil, which has supplanted gas as a fuel for power generation, is six times higher than the cost of Egyptian gas imports. For 20...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Algeria Confirms Six CCGT Awards, Plans New Solar, Mobile Units
...ntracts Sonelgaz has been charged with raising total generating capacity quickly in the short term, following riots over power outages during 2012. While 3.77GW of capacity has been added since the end of 2011, Minister of Energy and Mines Youcef Yousfi has forced the pace of development since his return to...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Saudi Arabia, UAE and Bahrain Pull Doha Ambassadors
...ani, who took over from his father last year and is still trying to find his feet on shaky Arab ground, still unsettled since the start of the wave of revolutions that swept across North Africa in 2011. Doha’s growing support for the Muslim Brotherhood since he took over as head of the leading gas pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Egypt’s Wheels Of Change Keep Spinning
...EGYPT Egypt’s Wheels Of Change Keep Spinning Three years after the Arab Spring, Egyptian politics remain in a state of flux. The 2011 Arab Spring introduced a new road map for Arab revolutions, as millions took to the streets calling for the overthrow of Pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Oman Oil Corruption: Ministry Blames Individuals, Not System
...e country’s key downstream projects – the 116,000 b/d Sohar refinery and polypropylene plant commissioned in 2006, and related aromatics plant commissioned in 2010. All are now operated by the sultanate’s state-refiner Oman Refineries and Petroleum Industries Company (ORPIC), established in 2011. Th...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Tunisia Pledges Cuts To Avoid Economic ‘Catastrophe’
...lamist party Ennahda won the elections after the overthrow of Ben Ali’s regime in January 2011, but two political assassinations of prominent opposition deputies in 2013 reminded Tunisians that they were still in transition, given the economic challenges and external shocks experienced since 2011. La...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Why Saudi Arabia Welcomes The US Shale Boom
...lps stabilize oil prices. Take the uprising in Libya in 2011, which cut Libyan production and led to a sharp rise in price. Over the last 12 months, when there has again been a crisis in the country, and falling supplies, there has been no repeat of the price increases. There is no doubt that the oil ma...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Iraq Supplants Iran As Top Crude Supplier To Turkey For 2013....
...12 2013 % of total 2012 % of total ‘000 B/D % of total 2011 2010 Iraq 121.8 32...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.56 102.45 102.31 100.68 94.81 97.54 105.73 98...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Independents To Drive Oman’s 2013 Output Boost
...is year. But the MOG has for the first time admitted there is a very real possibility US firm Occidental (Oxy) will not be able to hit its initial target of 150,000 b/d from the Mukhaizna heavy oil field it operates in Block 53. Oxy originally planned to reach the target in 2011 (MEES, 15 No...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Anadarko Turns North Africa Focus To Shale
...p of Tunisia (bordering both Algeria and Libya) from Canadian minnow Voyageur in December 2011. Anadarko assumed full costs for two commitment exploration wells due by November 2013 as part of the deal, and plans to drill both this year – the company’s only planned 2013 MENA exploration dr...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Oman To Award Five Exploration Blocks In 2013
...e number of Petrotel’s Omani assets to four, after it won the adjoining Blocks 17 and 40 in 2009 and 2011 respectively. In Block 17, Petrotel began its drilling campaign in 3Q11, and until recently had found seven prospects. In Block 40 the company has so far committed to a total investment of $35mn to...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Iraqi Parliament Snubs Kurds To ‘Pass 2013 Budget’
...dinary citizens. What local job creation there has been is confined overwhelmingly in the poorly paid security sector (MEES, 21 November 2011). This has encouraged over-exaggeration of security needs and essentially given locals an incentive for there to be a need for a heavy security situation. The Ca...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013