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Lukoil’s West Qurna-2 Start Will Add To Iraq Oil Output Gains
...ght crude to market independently in 2014 with the figure rising to 88mn barrels (240,000 b/d) in 2015. The company has said previously that it planned to sell crude from West Qurna-2 to customers in China and more widely in the Asia-Pacific region through its Geneva-based marketing arm Litasco. Lu...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
IMF Predicts 2014 Boost For Iraqi Economy
...IRAQ IMF Predicts 2014 Boost For Iraqi Economy The IMF said in a statement on 25 March at the conclusion of discussions with Iraqi officials in ‘Amman that while Iraq had managed to maintain macro-economic stability in 2013, lower-than-expected oil export revenues and hi...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Petrofac $1B Oman Deal
...d of sweet sales gas and 61,000 b/d of condensate, as well as 565mn cfd of sour gas to be used for oil field reinjection at Harweel. Harweel production hit close to 30,000 b/d in 2013, and is expected to boost throughout 2014 and 2015 to hit peak production of 38,000 b/d. This award is the co...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Power Firms Face Water Shortages
...INTERNATIONAL Power Firms Face Water Shortages Growing demand for limited water is pressuring energy producers to seek alternative approaches, according to UN Water. Launching its World Water Development 2014 report on 22 March, the agency warns that global water demand wi...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Dubai’s DEWA: Peak Load Hit 6.86GW In 2013
...ase (MEES, 25 October 2013). DEWA capacity now stands at 9.656GW of electricity and 470mn gal/day (2.137mn cmd) of desalinated water, says Mr Tayir. Since end-2013 DEWA has begun a 400MW expansion at gas-fired M-Station, with completion scheduled for 2018. DEWA has a Dh20.56bn ($5.55bn) budget for 2014...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Politics Continue To Delay Lebanon’s Bid Round
...oceeds. And it appears unlikely that the new government will address the decrees anytime soon. Indeed, they may well not be signed before Lebanon’s 25 May election deadline, which means the bidding deadline may be pushed back well into the second half of 2014, or even later. When former Energy Mi...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Algeria’s Optimism Over In Amenas Tempered
...geria is a member. Statoil sent its staff back to some sites in the country during the course of last year. “At the end of October 2013, Statoil approved the return of personnel to ordinary rotation at the operations base in Hassi Messaoud. In January 2014, Statoil approved the resumption of or...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Chazen Elaborates As Oxy’s Middle East Asset Sale Falls Apart
...ll, Mr Chazen said that he expected the asset sale to be finalized in the first quarter of 2014; however, this proved impossible, thrown off by the complications of the deal. In a nod to the earlier troubles in executing the deal, Mr Chazen said this week: “At their [the NOCs] suggestion, we’ll pr...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Algeria Returns To Expansionary Budget In 2014
...ALGERIA Algeria Returns To Expansionary Budget In 2014 Algeria has adopted an expansionary budget for 2014 after cutting 2013 budgeted spending. But the projected 2014 spend is still well down on the bumper 2011 spend, when Algiers attempted to stave off calls for po...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Kuwait Eyes 2014 Surplus
...KUWAIT Kuwait Eyes 2014 Surplus In its 19 March Economic Update, the National Bank of Kuwait (NBK) projects a surplus of KD9.3bn ($22.0bn) for Kuwait’s 2014-15 draft budget before allocation of the mandatory 25% of budget revenue to the Reserve Fund for Future Generations (RF...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
The World Bank’s Trade Logistics Performance Index, 2014*
...The World Bank’s Trade Logistics Performance Index, 2014* Rank Country ^Score Rank Country ^Score Rank Co...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Baghdad Refocuses Oil Industry Priorities
...rgets has been postponed, but nevertheless Baghdad is still pushing hard for near-term growth, aiming for average 2013 crude exports of 2.9mn b/d, up almost 600,000 b/d on last year, and it is targeting 2014 output of 4.5mn b/d, compared to just over 3mn b/d last year. Iraq added significant pr...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
‘New Eni’ Reduces North African Exposure
...0 600 >90% CAFC Gas* Algeria 13-Mar 5 * 70 >90% Wafa Compression Libya 2014 60 37 460 47...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Benchmark Crudes, Saudi Arabia - Economic Data & Saudi Arabia Export Revenue
...erage settlement prices for period in question Saudi Arabia - Economic Data 2014** 2013** 2012E 2011p 2010 2009 2008 2007 Nominal GDP $bn* 794.3 773 744 57...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
ADNOC Shipping Arm Looks East For Profits
...12). Additionally, liquid hydrocarbons storage at Fujairah is expected to double to over 10mn cu ms by the end of 2014, from nearly 5mn cu ms at the end of 2012 (MEES, 1 March). Storage expansion plans include a 1.125mn cu ms facility being built by Singapore-based Concord Energy and China’s Si...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
MENA Refiners Mull New Projects Amid Major Expansion Program
...e Ruwais plant a 417,000 b/d refinery that is due to start up in 2014. Takreer is also building a carbon black and delayed coker plant at Ruwais, with completion scheduled for December 2015 (MEES, 9 November 2012). Meanwhile, UAE government investment vehicle International Petroleum Investment Co...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
UAE Makes Progress On Nuclear Plant, Iran’s Bushehr Off-Line
...actors. FANR issued construction licenses for Units 1 and 2 in July 2012, and first concrete for Barakah-1 was poured shortly afterwards. ENEC plans to apply for an operating license for Unit 1 in 2015 and will pour concrete for Unit 2 in mid-2013. Delivery of fuel for Barakah-1 will begin in 2014...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Abu Dhabi To Import 1.2Bn CFD Of LNG, Shah Gas Field Slips
...UAE Abu Dhabi To Import 1.2Bn CFD Of LNG, Shah Gas Field Slips Abu Dhabi’s decision to start importing LNG in 2014-15 will put it into competition with Kuwait and Bahrain for floating regasification and storage units (FRSUs), whose market is tight. Positioning the terminal in Fu...
Volume: 55Issue: 13Published at Mon, 26 Mar 2012 -
KRG Oil Sector Pushes Ahead Amid Challenging Times
...rgeted crude production will rise to 3.3mn b/d next year from 2.75mn b/d in 2011. Baghdad is eyeing output of 4.5mn b/d in 2013 and 6.5mn b/d in 2014. The projections are considerably more than those forecast by independent analysts, which see capacity expansion schedules severely cramped by export in...
Volume: 54Issue: 13Published at Mon, 28 Mar 2011 -
Europe Must Compete With Asia To Secure LNG, Qatargas Chief Warns
...ntinues with the North Field moratorium after it completes its studies in 2014 into its depletion rate. Shell has signed a preliminary deal with Qatar to build a 1.5mn t/y monoethylene glycol plant, and is in talks to secure ethane from Pearl for the project instead of just contributing it to state-ow...
Volume: 54Issue: 13Published at Mon, 28 Mar 2011