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The KRG Blinks First In Oil Dispute With Baghdad
...IRAQ The KRG Blinks First In Oil Dispute With Baghdad The Iraqi Parliament held a first reading of the stalled 2014 federal budget despite a Kurdish boycott, but a second reading has not been scheduled, suggesting the legislature may struggle to pass the budget bill before Ap...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Shell Awards Majnoon Oil Deal, Gas Still A Problem
...ree Misan fields of Fakka, Abu Gharb and Bazergan to 220,000 b/d by the end of 2014 from 135,000 b/d, the Iraqi Nina News service reported on 18 March. It quoted the company’s director general ‘Ali al-Bahadli, as saying that the operator plans to drill 39 new wells in the three fields and build an ex...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Turkey Sees Power Demand Doubling By 2023, Backs Nuclear And Coal
...ll rise to 450 TWh in 2023 from 235 TWh in 2013, having already risen sharply from 132 TWh in 2003. The company expects consumption to reach 256 TWh in 2014. The ministry is working to reduce Turkey’s dependence on imported gas for power generation, through the diversification of primary energy so...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Iran Nuclear Talks Resume In Shadow Of Rising Crude Exports
...% from 2.53mn b/d in 2011. Asian Domination Since Western sanctions on Iranian crude oil sales came into effect, the Asian quartet of China, India, Japan and South Korea have together accounted for around 85% of the Islamic Republic’s crude and condensate sales. In the first two months of 2014...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Iran Ends Year On Gloomy Economic Note
...IRAN Iran Ends Year On Gloomy Economic Note As the curtain comes down on the Iranian year 1392 on 20 March 2014 negative economic indicators continued to emerge. Tehran hopes to end the year with “good news” of zero growth, Iran’s Finance Minister Ali Tayebnia says, fo...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
East Africa To Take Charge Of South Sudan Ceasefire
...wn since the first week of 2014. Until late last month, South Sudan’s remaining production – coming solely from its Upper Nile fields – was running at close to 200,000 b/d capacity. But recent clashes have since affected production from the state, with government estimates this week putting total ou...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Jordan Bags $783m Loans
...pends heavily on foreign grants to reduce its budget deficit, expects to receive JD1,151mn ($1,623mn) in foreign grants in 2014, up form JD982mn ($ 1,385mn) in 2013 (MEES, 21 February). Jordan’s Latest Loans Source $Mn Pu...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Dubai: $20Bn Debt Rollover
...owth in the UAE is expected to remain firm at 4.5% in 2014, according to the IMF (MEES, 7 February). Abu Dhabi, the richest among the seven emirates in the federation, has the financial resources and liquidity to bail out Dubai. Prior to the 2009 crisis, Dubai took out more than $100bn in lo...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Morocco Targets Further Subsidy Reductions
...cluding further cuts to subsidies and public sector pensions, the IMF says. 2014 Budget Projections Morocco’s 2014 budget, approved by parliament last November, projects total expenditure of MD367.20bn ($43.2bn), total revenue of MD335.18bn ($39.4bn), and a resulting deficit of MD32.02bn ($3....
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Financing MENA Energy Investment: Critical Issues And Challenges
...REGIONAL Financing MENA Energy Investment: Critical Issues And Challenges By-Ali Aissaoui* APICORP’s review of MENA energy investment for the five-year period 2014-18 has estimated total capital requirements at about $765bn. Concurrently, the review has es...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
BOX: MENA Energy Investment Outlook
...REGIONAL BOX: MENA Energy Investment Outlook APICORP’s review of MENA energy investment, published in its Economic Commentary for January-February 2014, has established that despite slow global recovery, uncertain markets, and lasting regional turmoil, capital requirements fo...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014