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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 $480mn Musandam gas plant to process the 45mn cfd of gas (MEES, 1 April 2011), which the UAE’s Ras al-Khaimah Petroleum operates on behalf of Muscat. Any gas found in Oman’s Blocks 40 or 17 will also be processed at the plant. The blocks are op...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
OPEC Production Hits Fresh Three-Year High
...y deliveries (see page 12). Shipping data and several credible anecdotal accounts have prompted an upward revision of 50,000-100,000 b/d to MEES Kuwait production estimates going back to November. OPEC Crude Oil Production Mar 2011 – Mar 2012 (MEES Estimates – ‘00...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Japan’s Crude Imports Slip In February To 3.853Mn B/D
...port figure of 3.938mn b/d and an increase of 2.75% from 3.750mn b/d in February 2011. Imports from the Middle East averaged 3.205mn b/d in February, down by 1.51% from 3.254mn b/d in January and by 4.47% from 3.355mn b/d in February 2011. Saudi Arabia remains Japan’s biggest crude supplier with de...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
DME Trade Volume Passes 3Mn Contracts
...ring the first quarter of 2011....
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Saudi Crude Prices Mainly Lowered For May Deliveries
...CI) 2012 2011 May Apr Mar Feb Jan Dec Nov Oct Se...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Saudi LPG Prices Fall Back, Suggesting Ample Supplies For April, Says Purvin & Gertz
...n 740.00 735.00 2011 1 Jan 935.00 920.00 2012 1 Jan 850.00 91...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Crude Oil Formulas/Posted Prices
...OPEC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2012 2011 Mar Feb Jan De...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
EGPC Needs $1.1Bn Per Month For Import Of Petroleum Products
...the 2011-12 budget is widening from original estimates, with the subsidies for energy rising to E£120bn ($19.9bn) from E£95bn ($15.7bn) when the budget was first unveiled. The Egyptian economy has suffered in the aftermath of the January 2011 revolution and its foreign exchange reserves have fa...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
AOC Again Delays Egyptian Production Start-Up
...untry’s ongoing budgetary crunch. AOC receives a declining share of production from the Khafji crude from the offshore part of the Kuwait/Saudi Arabian Neutral Zone under a 20-year sales and purchase agreement – 37,000 b/d for the year to March 2011 was less than half the 2009-10 figure (81...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Iran Restricts Imports Of Foreign Goods
...the case of the textile industry, with adverse effects on unemployment. Also the high cost of utilities after the first phase of the withdrawal of subsidies has raised operating costs for these industries. With the tightening of western sanctions in 2011, access to foreign exchange has become more di...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Turkey Falls In Line With US Sanctions, Commits To Lower Iranian Imports
...e-third of Turkey’s final consumption in 2011. While Libya will be the main source of alternative supply, Mr Yildiz said that Ankara is already in talks with Saudi Arabia on long term and spot market purchases. He said that Turkey plans “to increase the number of countries we buy oil from and the ro...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
KRG Holds Back Exports In Escalation Of Oil Payment Row
...ate budget and the Iraqi economy,” Dr Shahristani told the conference. “The Kurdistan region did not provide oil produced in the region during the years 2010 and 2011, and this caused a deficit in the budget. The value of oil produced in 2011 reached $3.5bn, while the value of oil produced in 2010 re...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Development Of Joint Tunisian-Libyan Discovery On Hold
...rt of the block appears the more prospective and has been the focus of recent exploration efforts. Sonde drilled a successful exploration well, Zarat North-1, in January 2011, shortly before the declaration of force majeure. The Zarat field straddles the JO acreage and the Zarat permit of Sw...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
IOC To Farm Into South Sudan’s Block B Soon, Operator Total Says
...rlier (MEES, 14 July 1997) and the exit of Sudanese state firm Sudapet following South Sudan’s secession (MEES, 11 July 2011). Abu Dhabi’s state-owned conglomerate Mubadala initially showed an interest in replacing Marathon and Sudapet, but never followed up on it as Juba was intent on involving oil and ga...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Dubai Drydocks Uses Special Tribunal To Restructure $2.2Bn Debt
...s planned for completion in 2011, but hedge funds were not receptive and it dragged on. It then outlined the major terms of a new plan early in March, and said it planned to complete the process in mid-year. The company became over-leveraged when it expanded into Singapore. The company sa...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Militants Attack Yemen LNG Pipeline, Stop Production Of Four Cargoes
...quefaction plant after a similar attack was carried out on the pipeline in retaliation for the killing of a high-ranking al-Qa'ida official in an air raid on military bases in Yemen (MEES, 24 October 2011). This incident is only the latest in a long line of attacks on the country’s oil and gas in...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012