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Kurdish Oil Output Set To Rise But Exports Elusive
...ducting the total value of the 400,000 b/d that it says the KRG pledged to export in 2014. The dispute has delayed passage of the federal budget in parliament, putting a strain not only on the semi-autonomous region’s finances but affecting projects in other provinces and governorates as well. In the KR...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Cyprus Looks To Drilling Uptick To Boost LNG Plans
...d-14 2 *Eni 80% Kogas 20% Drilling planned 2H 2014 3 Eni 80% Kogas 20% Drilling planned 2H 2014 9 Eni 80% Kogas 20% Drilling planned 2H 2014...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
$1.75bn Tamar Deals
...tash Company and the Jordan Bromine Company to supply them with 1.9 bcm of Tamar gas from 2016 for use at their Dead Sea facilities (MEES, 21 February 2014). Tamar, discovered in 2009, last year began supplying Israeli industry with natural gas. Currently production is 750mn cfd. A $220mn, 200mn cf...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
MENA Active Drilling Rigs February 2014*
...MENA Active Drilling Rigs February 2014* February 2014 br...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Mideast Gas May Move To Europe If Russia Cuts Supply
...rtfolio. “On volume, we reached a significant reduction in our Algerian contract. This has allowed us not only to avoid further take-or-pay, but even to recover 3.5 bcm of makeup gas,” Mr Alvera says. Eni’s deal with Sonatrach to cut drastically its Algerian gas volumes lasts until October 2014, Mr Al...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Kuwait LNG Plans Advance
...rk with a local partner and expects to complete its work in October 2014. Foster Wheeler previously completed a feasibility study for the terminal and helped KNPC select technology for the project and choose the terminal’s location. KNPC plans to commence LNG imports at the terminal in 2020, su...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Qatar Faces Threat From US Shale – IMF
...portantly on the ability to rapidly hire expatriate workers,” the IMF says. Real GDP growth is projected to stay around 6% in 2014, as the pickup in the public investment program is roughly offset by a modest decline in hydrocarbon output, the IMF says. Public investment is expected to keep growth ro...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Gulf Petchem Megaprojects Eye Shift From Ethane Feedstock
...Main Products (‘000 T/Y) Sipchem Jubail, S Arabia 2014 200 EVA and LDPE PCC Jubail, S Arabia 2014 50 nylon 66...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Morocco Looks To Wind To Lessen Energy Imports
...e end of 2014. Nareva currently operates 200MW of wind capacity at Akhfennir, Haouma and Foum el Oued. Morocco’s solar agency Masen has contracted ACWA Power to build the 100MW Noor-1 concentrated solar power (CSP) plant at Ouarzazate, slated for 2H 2015 start-up. Masen has also prequalified bi...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Bullish OPEC Once Again Raises Oil Demand Forecasts
...OPEC Bullish OPEC Once Again Raises Oil Demand Forecasts OPEC this week raised its forecast for 2014 world oil demand growth for the second month running, on account of what it said were stronger than expected economic growth figures in North America and Europe. This is de...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Domestic Upheavals Challenge Oil Industry In Iraq, Libya
...rliamentarians, who support them, have blocked the discussion of the 2014 budget in parliament. Baghdad has refused to pay the KRG its share of the budget, leading to much aggravation among KRG civil servants. The KRG-Baghdad oil conflict has wider scope, raising protests among oil producing governorates. For ex...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Hit By Subsidies At Home, ENOC Looks Abroad
...UAE Hit By Subsidies At Home, ENOC Looks Abroad Dubai refiner and retailer Emirates National Oil Company (ENOC) aims to boost operational efficiency and profitability in 2014, having “recorded positive performance, leveraging increased market demand” in 2013. The co...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Kuwait Set To Double Budget Surplus
...13-January 2014 Kuwait posted a surplus of KD9.39bn, after allocation to the Reserve Fund for Future Generations (RFFG), already comfortably ahead of the KD4.69bn surplus for the 2012-13 financial year. This is despite average prices for Kuwait’s crude exports having fallen by close to $3/B over the same pe...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Fitch Ups Saudi Rating
...for a prolonged period of time with lower oil prices, without undermining the fiscal and external positions. Saudi bank NCB, in its latest Saudi Economic Review, says Saudi Arabia’s breakeven oil price is $86.8/B for 2014, up from $81.1/B in 2013. It predicts state sovereign wealth fund SA...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
IOCs Scramble To Meet New UAE Oil Minister
...pact its energy industry for decades. Options include: breaking it up into individual fields; reducing consortium members’ equity; and adding new shareholders. ADCO’s concession expires in January 2014. It is owned by ADNOC (60%), BP (9.5%), Total (9.5%), Shell (9.5%), ExxonMobil (9.5%) and Po...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
Saudi Aramco Eyes 550,000 B/D Expansion
...end 2014, we have a project that we already have started developing. We are expanding Khurais which came on stream in 2009 to 1.5mn b/d and we will be doing Shaybah, 250,000 b/d,” Mr Falih said. The additions will, like Manifa, not be a net addition to existing production capacity of around 12...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
Kuwait Moves 4Mn B/D 2020 Crude Target Back To 2030
...ptember 2014. Phase 2 will start a few years later, taking total water injection to 1mn b/d. The project will maintain Wara production capacity at 180,000-200,000 b/d. Actual production is typically somewhat lower at around 130,000 b/d. At 1,400ms Wara is the shallowest of Burgan’s four main reservoirs. Th...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
Bahrain LNG Terminal Decision Approaches
...rminal at a cost of more than $500mn by June. But the delayed award has pushed the expected completion date from 2014 to 2016. NOGA is negotiating a Build-Operate-Own (BOO) LNG import terminal and the group has decided to pursue a Floating Storage Regasification Unit (FSRU), MEES learns. Further delays ar...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
Iran Marks Progress On Condensate Refinery
...e first of which is officially scheduled to be brought on-line in 2014. When completed, the plant will have capacity to produce 36mn liters/day (225,000 b/d) of gasoline. IRNA quoted National Iranian Oil Refining and Distribution Company (NIORDC) Managing Director Alireza Zeighami as sa...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
ADWEA Studying Bids For Al-Mirfa IWPP
...ia Power Investment BV, a joint venture of ADWEA (60% equity), Sumitomo (20.4%) and Korea Electric Power Corporation (Kepco – 19.6%). Shuweihat S3 is scheduled for completion by January 2014 and will have 1.6gw generation capacity. A consortium of South Korea’s Daewoo Engineering and Construction an...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013