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Oman’s LNG Companies In Merger Talks
...d power. In 2011 Sultan Qabus bin Sa'id ordered OOC to refocus more investment in Oman and in creating jobs. Muscat’s model is Malaysia’s Petronas, one of the most successful national oil companies (NOCs). Petronas has integrated operations and equity stakes throughout the hydrocarbons ch...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
AGOCO Production Edges Up But Bigger Plans Await Budget
...-Hariga terminal remained in rebel hands throughout the 2011 conflict, offering a lifeline crude export outlet when production restarted. Repsol Seeks Drilling Equipment Meanwhile, Spain’s Repsol is edging closer to restarting exploration drilling on its Murzuq Basin acreage. The co...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Bahrain’s BBK Stays Profitable As It Weathers Local, Global Crises
...ld Melanie Lovatt he is cautiously optimistic for 2012 and is already seeing the benefits of the commercial bank’s back-to-basics strategy. BBK’s profits slipped to BD31.79mn ($84mn) in 2011 from BD39.14mn ($103.7mn) in the previous year. But a 13.4% return on average equity is a strong pe...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Delek Confirms Interest In Greece, Israel Confident Of Trilateral Pact
...ich he considers a precondition for the development of a successful regional oil industry. Theodoros Tsakiris writes. Greece established its Exclusive Economic Zone (EEZ) with Italy in 1977 and in July 2011 demarcated its maritime boundaries with respect to Albania and Libya under Athens’s En...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Iran And Oman Developing Hormuz Gas Projects
...s al-Khaimah. Last year OOCEP started building the $480mn Musandam gas plant to process the 45mn cfd of gas (MEES, 1 April 2011), which the UAE’s Ras al-Khaimah Petroleum operates on behalf of Muscat. Any gas found in Oman’s Blocks 40 or 17 will also be processed at the plant. The blocks are op...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Kuwait Eyes Permanent LNG Facilities As Politics Holds Up $90Bn Energy Plan
...boost the recovery rate of heavy oil to 40% from the current 5%, which would involve thousands of wells. Tests are underway and “we will have answers by the end of 2011,” Mr Khashti said. A further $100mn is being invested in onshore exploration, with the focus on gas, expected to be completed in 20...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar’s 2011-12 Budget Continues To Focus On Infrastructure Growth
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Qatar’s 2011-12 Budget Continues To Focus On Infrastructure Growth Qatar has unveiled a record budget for fiscal year 2011-12, which starts on 1 April, with total revenue of QR162.5bn ($44.6bn), up 27.4% from QR127.5bn ($35...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Oil Industry Leaders Wrestle With ‘Perfect Storm’
...e choosing to ignore market fundamentals, preferring to bet on worst-case scenarios,” Mr Hamili said. “There is little we can do in terms of price control,” he complained. Noe Van Hulst, Secretary General of the International Energy Forum (IEF) argued: “2011 is not 2008 [when prices surged to $14...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
MENA Revolt ‘Less Radical Than Claimed’
...ew a parallel between current market conditions and those in 2008, when prices reached an all-time peak at around $145/B for Brent. “Prices are high, and they started 2011 at almost the same level as at the beginning of 2008,” he said. “There is a suggestion that a repeat of the 2008 situation is wh...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
MENA Defense Spending As Percentage Of GDP Sees First Upturn In Six Years
...e previous year’s figure of 4.71%, according to the 2011 edition of the Military Balance, compiled by the London-based International Institute for Strategic Studies (IISS). With this, the MENA region has once again reclaimed its position as the biggest global spender on defense as a percentage of...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar’s Record 2010-11 Budget Targets Infrastructure Growth
...tput To Hit 77Mn Tons/Year By 2011 Qatar’s Prime Minister Shaikh Hamad bin Jasim Al Thani estimated 2010-11 GDP growth at 16%, at an investment forum in Paris on 25 March. He confirmed that Qatar expected to boost its LNG production to 77.4mn tons/year by 2011, from the current 56mn t/y level. Qatar’s fo...
Volume: 53Issue: 15Published at Mon, 12 Apr 2010 -
Oman Plans To Seek JV Partner For $10-13Bn Al-Duqm Refinery Project
...ach, given that from 2011 onwards the company will be using enhanced oil recovery (EOR) techniques, with this reaching almost a third of production in 2016 (with primary and secondary also roughly a third apiece). Original targets were for 2011 crude output of 600,000 b/d (MEES, 28 January), but PDO sa...
Volume: 51Issue: 15Published at Mon, 14 Apr 2008 -
Kazakhstan Prepares To Boost Trans-Caspian Crude Shipments
...om Kazakhstan put the cost at $3bn with start-up targeted by 2011 to coincide with the Kashagan oilfield coming on-stream. (See Caspian Sea Region Pipelines, MEES, 17 March, page 23). Subsea Pipeline Option? KazMunaiGaz announced in November 2006 that it would pursue developing the export route at...
Volume: 51Issue: 15Published at Mon, 14 Apr 2008