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Kurds Warn Over Oil Payment, Kirkuk Field Rehabilitation
...ocks to ExxonMobil (MEES, 21 November 2011). Citing Article 112 of the constitution, the KRG demanded both the governorate of Kirkuk and the KRG “be present with the federal government in any discussions and agree over the Baba structure’s development.” Kurdish Peshmerga forces control parts of...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Libya Stalemate On Exploration Restart
...-'Abdaly, Chairman of NOC’s Jowfe Oil Technology spoke of the efforts to get the Oasis (Waha) export terminal of Sider back on-stream late last year (MEES, 26 December, 2011). With some of the war’s most intense fighting nearby, the terminal suffered “complete destruction of the metering system…the he...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
SEC Sees Orders Of $18Bn For Debut International Sukuk
...ternational paper last year when it mandated HSBC and Deutsche Bank to organize its first dollar-denominated sukuk issue. At the time bond specialists had suggested that it would probably take until early 2012 to prepare the issue for market (MEES, 6 June 2011). The sukuk were issued under regulation ‘S’ wh...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Greece-Cyprus-Israel Energy MOU Postponed Indefinitely
...s capacity as the foreign minister of the Constantine Mitsotakis government in 1990, visited Israel in December 2011 and reconfirmed his support for Mr Papandreou’s policy. Following a meeting with Israeli Prime Minister Benjamin Netanyahu, Mr Samaras, whose party Nea Demokratia is leading the polls ah...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
IOCs Offer Abu Dhabi CO2 Technology To Secure Oil Fields
...rub out residual oil that has migrated through rock on its way to a reservoir during the reservoir’s formation, making more oil recoverable. In the pilot scheme there was no scaling, which would have indicated dissolving of the carboniferous rocks. The 60 t/d (1.2mn cfd) pilot started in 2009 and by 2011...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Crude Oil Formulas/Posted Prices
...OPEC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2012 2011 Apr Ma...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
New Commerce Minister Looks To Push Ahead With Cyprus’s Natural Gas Plans
...silikos power station, where 793mw of capacity was destroyed in July 2011 by an explosion at a nearby military base. Some of that power generation capacity will come back online in mid-to-late 2013. Meanwhile, Cyprus is relying on heavy fuel oil for power generation. Cyprus has been fined by the EU for it...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Work Begins On VTTI Oil Storage Terminal
...te by mid-2014. The company held a ground-breaking ceremony at the site, located in an area designated by the government as the Vasilikos Energy Center on the island’s southern coast, in January 2011 (MEES, 24 January 2011). Vasilikos is also the site proposed by US energy firm Noble Energy for an LN...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Permit Approvals Set To Boost Apache’s Egyptian Production
...th Libya. The approvals indicate that Egypt’s oil bureaucracy, which almost ground to a halt in the second part of 2011 following last February’s ouster of former president Husni Mubarak, is getting back into gear. A senior figure at Apache in Egypt tells MEES that whilst some of the recent de...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Egypt And IMF Hold More Talks On $3.2Bn Loan
...F delegation about this the lack of transparency in the budget. Egypt’s economy has suffered from the year of turmoil since the uprising began in January 2011, which saw a fall in tourism income and decline in the foreign currency reserves of the country to $15.7bn at the end of February 2012 (MEES, 12...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Yildiz Denies Notification Of US Sanctions On Turkey Over Iran Imports
...cember 2011 (MEES, 2/9 January). The State Department official reportedly said that “the assessment of which countries could be subject to the sanctions was a dynamic process and that other countries could be added or dropped as additional information becomes available.” The list of countries to...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
ILDC Energy Plans Drilling In Myra And Sarah Blocks This Summer
...ril and mid-May. Israel’s Petroleum Supervisor has extended the consortium’s work permit to a deadline of 15 June for the start of drilling in Myra. ILDC Energy contracted the Homer Ferrington in July 2011 (MEES, 11 July 2011). Drilling targets on the two blocks are thought large enough to hold a co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Kuwait Appoints New CBK Governor
...om Emory University, Georgia. Dr Hashil, 37, joined the CBK in 2004 and has served as Deputy Governor at the bank since his appointment in 2009. He was also a member of the Kuwait Stock Exchange Committee from 2008 to 2011, during which time the country decided to privatize the stock market. Ac...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011
...oman IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011 Real GDP growth is estimated to have reached 5.5% in 2011, up from 4% in 2010 and 1.2% in 2009, driven by increasing government spending and higher oil prices, the IMF said on 26 March in an Article IV co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
QP And Shell Appoint RBS To Advise On $6.5Bn Petrochemical Project
...ns/year monoethylene glycol plant, a 300,000 t/y linear alpha olefins plant and another olefin derivative unit (MEES, 12 December 2011). Qatar, the world’s biggest LNG exporter, is trying to further develop its petrochemical sector and recently announced that QP and Qatar Petrochemical Company (QA...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Mubadala Buys $2Bn Stake In Brazil’s EBX
....5bn in 2011-12 and $50bn spread over the next 10 years. Mubadala and EBX said in a joint press release that the partnership creates a platform and framework for future collaboration. “The message is that the two companies will explore opportunities together,” said the source, noting that “there’s no...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Saudi Arabia Pledges Oil Products To Yemen
...pply shortfall during the unrest that lead up to the ousting of former president 'Ali 'Abd Allah Salih (MEES, 1 August 2011). Speaking on the sidelines of the International Energy Forum in Kuwait this month, Yemen’s new Minister of Oil and Minerals Hisham Sharaf 'Abd Allah revealed crude output was cu...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012