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Libya: Competing Power Bases Threaten To Tear NOC Apart
...ptember, the House of Representatives voted to sack the chairman of the central bank, Sadiq al-Kabir, claiming that he had blocked the transfer of funds to Baida. Mr Kabir is an experienced international banker who was appointed by the transitional government after the fall of Mu’ammar al-Qadhafi in 2011...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
ENOC In First Step Towards Possible Dragon Takeover
...prices set by the government even as it pays international prices for its imports. Although the UAE raised gasoline prices twice in recent years, it deferred a third price in the wake of the Arab revolutions of 2011, fearful of a backlash. Federal law requires that Enoc and its subsidiary Emirates Pe...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
His Mission Accomplished, Qatar’s Attiyah Bows Out
...to the world’s largest producer and exporter of liquefied natural gas (LNG) in almost record time. His mission completed, Mr ‘Attiyah was promoted to head of the Emiri court in 2011, by which time he had amassed a number of accolades and honors from foreign government and from the industry. He re...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
OPEC, IEA Diverge On US Supply Growth
...west since March 2011, and down 42% from the start of the year. US oil output is projected to average 13.65mn b/d in 2015, according to OPEC, indicating growth of 820,000 b/d – down from 1.61mn b/d growth in 2014. “Typical oil wells in shale plays decline 60% annually, and…losses can only be re...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Iran Blasts OPEC’s No-Quota Policy, Vows Return To Markets
...OPEC/IRAN Iran’s Petroleum Minister Bijan Zanganeh this week slammed OPEC’s December 2011 decision to scrap individual production quotas in favor of an overall output ceiling, arguing that it has only encouraged some members to raise output, and ultimately eat into the market share of ot...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Algeria, Poland To Share Shale Tips As Protests Continue
...ssian gas. However, the country failed to live up to its promise so far – Poland’s shale gas resources were estimated by the US Energy Information Administration (EIA) at 190 tcf in 2011 - with foreign companies exiting Poland in the past three years mainly due to poor exploration results and re...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Tunisia Attack
...counts for 7% of the country’s GDP, a share that was much higher before the 2011 revolution that overthrew former dictator Ben Ali. Tunisia had hoped that 2015 would be the year that tourists returned to the country. Such hopes now look forlorn. As a group claiming IS affiliation warned of further at...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Gulfsands Struggles For Cash As Syria Return Recedes
...nce it abandonded the asset and declared force majeure in December 2011, shortley after the start of the Syrian conflict. The “facilities remain in good order in Syrian/Kurdish controlled areas,” Gulfsands says, adding that the firm is “entitled to receive [its] revenue share for oil produced since mi...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Egypt Open For Business With $175Bn Of Deals Signed At Development Conference
...ch of these will be split 50/50 between cash deposits at the Central Bank of Egypt (CBE) and project investments. Fresh CBE deposits will help boost Egypt’s foreign exchange reserves, which stood at $15.5bn at the end of February, down by more than half since the January 2011 revolution. Mr Sa...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Saudi Refinery Output Tops 2mn B/D For Eighth Straight Month
...5vsJ14 2014 2013 2012 2011 Crude Production 9,680 9,630 9,610 +50 -87 9,...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015