- Sort by:
- Score
- Published ▼
-
Iran Tensions Cast Shadow Over IEF Meeting
...continued. According to MEES calculations there has been some loss of Iranian production, with estimated February output of 3.46mn b/d down on the 2011 average of 3.59mn b/d. Production losses are only part of the issue. “It is costing twice as much to get anything done. Drilling, oil services, fi...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Sonatrach In $6.6Bn Windfall Tax Resolution With Anadarko And Maersk
...8 6.6 For Comparison: 2011 TPE In...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Noble Confirms Cyprus Resource, Assessing Site For Proposed LNG Plant
...kes reports. Noble Energy has reconfirmed its resource estimate for the December 2011 discovery at Cyprus’s Block 12 A-1 well at 7 tcf (198 bcm) following the release of an independent estimate by consultants Netherland Sewell and Associates (NSAI) in early March that put reserves at 5.1 tc...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Kuwait Burns Crude, Turns To Renewables, To Meet Fuel Challenge
...ntracts are $14-14.7/mn BTU and rise with oil prices. In a research note Bloomberg New Energy Finance said that the cheapest PV power plant in 2010 could be built at $3.14/w. In its model a 1gw PV plant built in 2011 over 20 years was competitive against real oil prices rising from $80/B to $12...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
IEA Forecast Little Changed With 2012 Demand Seen At 89.9Mn B/D
...e latest issue of the monthly Oil Market Report (OMR), released on 14 March, cited the IMF’s January World Economic Outlook, which said global economic growth would decelerate to 3.3% in 2012, from 3.8% in 2011 and 5.2% in 2010. “Having risen to 89.1mn b/d in 2011, global oil consumption is forecast to...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Crude Oil Formulas/Posted Prices
...OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Apr Mar Fe...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Anadarko Reaffirms Algerian Commitment Following Tax Deal
...gerian operations in 2011, boosted by record Saharan Blend prices, with “very low” lease operating expenses of around $2/B, according to Chuck Meloy, Anadarko’s senior vice-president for worldwide operations. Speaking to investors on 13 March, Mr Meloy added that these “great margins” just got “co...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Russia To Persist With Burgas-Alexandroupolis Pipeline Project
...risov announced the decision of his government to withdraw from the project, citing an ostensible lack of financial viability (MEES, 12 December 2011). ...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Cyprus Electricity Authority Signs Loan Deal With EIB For Power Station Reconstruction
...used to the Vasilikos power station in July last year as the result of a munitions explosion at the nearby Mari naval base (MEES, 1 August 2011). A statement released by the bank said the money would be used for a new production unit to enhance electricity supply in Cyprus. The explosion destroyed 79...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Turkey Sends Mixed Signals On Iranian Energy Ties
...rkey imports around 200,000 b/d of Iranian oil, almost one-third of its consumption. Yet Tupras, Turkey’s sole refiner, which depended on Iran for almost 50% of its crude imports in 2011, cut its Iranian oil imports in December, according to data published on 8 March by Turkey’s energy re...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Sasol Seeks Buyers For Stake In Iranian Petrochemical Plant
...uth Africa imported around 100,000 b/d of Iranian crude in 2011. ...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
South Pars Production Reaches 290Mn CMD
...anian year (21 March 2011 – 19 March 2012). He attributed the rise in output to “a maximum gas draw from South Pars Phases 6-8, the completion of 23 gas wells at Phases 9 and 10 and rising gas production from Phase 1.” Mr Souri predicted that by March 2013 South Pars output would reach 380mn cmd, before ri...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Beirut Eyes LNG Import Decision, Touts Reserves
...ES, 5 December 2011). “What we are hearing is kind of an acceptance that ‘yes, Lebanon has done things right’ by the science by which you do a maritime border,” Mr Basil said. “If we reach a point where we think the talks are not helping, we might later use other means.”A resurgence in investor interest wa...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Moody’s Maintains Morocco’s Ba1 Rating, Citing ‘Low Economic Strength’
...dium institutional strength” and moderate government financial strength. Morocco’s budget deficit widened substantially from 4.7% of GDP in 2010 to 6.1% of GDP in 2011 on account of the sharp hike in state expenditure in the form of subsidies and increases in public sector wages. Further to this, the co...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Qatar Postpones State Budget On Accounting System Changes
...rategy 2011-16, which includes programs for 190 sectors. Nevertheless, the budget will remain annual, he stated. Mr Kamal said that the cabinet had not yet addressed the oil price it would use in its next budget. Qatar Petroleum has adopted $65/B for its budget, but this is not the state’s fi...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Qatar Postpones State Budget On Accounting System Changes
...rategy 2011-16, which includes programs for 190 sectors. Nevertheless, the budget will remain annual, he stated. Mr Kamal said that the cabinet had not yet addressed the oil price it would use in its next budget. Qatar Petroleum has adopted $65/B for its budget, but this is not the state’s fi...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
SEC Seeking Developers For Power Plant Based On Fuel Oil
...veloped by Saudi Arabia’s ACWA, Samsung and the MENA Fund. They signed an agreement on 21 September last year to implement the project (MEES, 26 September 2011). Originally conceived as 1.8gw, its scope was more than doubled to 3.927gw due to cost savings on tariffs. It is now potentially the world’s la...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
Mapna Wins Contract To Build Syrian Power Plant
...w in supply due to high growth in population and the use of old generation plants which require frequent maintenance (MEES, 24 October 2011). However, due to ongoing political turmoil in the country, the power shortfall has increased to 2.6gw according to Syrian Minister of Electricity 'Imad Khamis (ME...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
IMF Sees UAE Economic Growth Slowing To 2.3% This Year
...UAE IMF Sees UAE Economic Growth Slowing To 2.3% This Year The International Monetary Fund (IMF) said on 14 March that it expects the UAE’s GDP growth to slow to 2.3% this year from 4.9% in 2011 amid limited potential for further near term increases in oil production. Non-oil growth wa...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
TAQA To Increase 2012 Capex To $2.2Bn, Sees 2011 Profits Slide
...UAE TAQA To Increase 2012 Capex To $2.2Bn, Sees 2011 Profits Slide State-owned Abu Dhabi National Energy Company (TAQA) has said it is looking to increase its capital expenditure (capex) from $1.9bn in 2011 to around $2.2bn this year as it presses ahead with plans to expand both its up...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012