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Iran Power Supply Up 4.6%, Capacity Hits 70GW
...IRAN Iran Power Supply Up 4.6%, Capacity Hits 70GW Iran generated 265.96TWh of electricity in the Iranian year ending 20 March 2014, up 4.6% on 254.27TWh the previous year, according to Deputy Energy Minister Houshang Falahatian. Implied average daily consumption of 30...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
IEA, Opec Views Diverge On 2014 ‘Call On OPEC’
...OPEC IEA, Opec Views Diverge On 2014 ‘Call On OPEC’ The views of OPEC and OECD energy watchdog the International Energy Agency (IEA) on the global 2014 demand for OPEC crude have sharply diverged in their latest monthly reports. While each chose to leave their fo...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
MENA Countries Hike Defense Spending For 2013
...gional power status, the powerful role of the military, the threat of terrorism and the ready availability of oil funds, SIPRI says. Algeria’s 2014 budget envisages defense spending of $12bn, up 10% on 2013 (MEES, 28 March). This follows the January 2013 terrorist attack on Algeria’s In Amenas gas pl...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Fragile Iraq Goes To The Polls
...e start of 2014 has also included battles with local tribes. Thousands of civilians have fled north seeking safe refuge in Iraqi Kurdistan, making it difficult for Anbar’s two million inhabitants to vote. The Sunni-Shi’a split in Iraq mirrors a wider Middle Eastern conflict, represented by the gr...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Chevron Taps MENA For Output Boost
...d appraisal in 2014 with the focus on Iraqi Kurdistan, Morocco and Australia. The US major’s overall production has edged lower in each of the last three years, dipping below 2.6mn boe/d for 2013. This is less than 2% of total global output, Christopher Bradley, UAE Country Chairman for the fi...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
IMF Downgrades MENA 2014 Growth Projections
...REGIONAL IMF Downgrades MENA 2014 Growth Projections Real GDP growth in the MENA region will be 3.2% for 2014 and 4.5% for 2015, according to the IMF’s six-monthly World Economic Outlook (WEO) released last week. The projection for 2014 growth is downgraded from the figure of...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Libya Denies Shortage of Cash Reserves
...st July. Dwindling export volumes have led the IMF, in its latest World Economic Outlook, released last week, to raise its budget breakeven oil price forecast for Libya for 2014 to almost $190/B. “We have enough funds for three years without getting a single cent from oil,” the head of the CB...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Jordan Considers Long-Term Economic Blueprint
...owth rate of 3.3% in 2013, it expects Jordan’s economy to grow by 3.5% in 2014 and 4.5% in the medium term. She added that inflation is expected to decline to about 2.5% at the end of 2014 and to 2% in the medium term, while the current account deficit (including grants) would gradually improve to 4....
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Iraq’s Management of its Natural Gas Potential - INES Revisited
...veloping the country’s own natural gas potential had been effectively halted. Even now, in 2014, utilization of Iraq’s natural gas, excluding Kurdistan, is around the same as it was in 2003. Since 2011 two contracts costing Iraq around $720mn have been signed to build two pipelines to import around 1.6bn cf...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 16 Apr 7- 11 Apr 31 Mar - 4 Apr Mar-14 Feb-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
CNPC Kicks Off Halfaya Phase 2
...oject, the 535,000 b/d Halfaya development and partner with BP on the giant 2.85mn b/d Rumaila development - are spearheading the capacity drive.On 14 April, CNPC announced it had started construction of a 100,000 b/d, 60 well phase 2 for Halfaya. This is due to come on stream in “the second quarter of 2014...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Aramco Starts Up 900,000 b/d Manifa Field
... SAUDI ARABIA Aramco Starts Up 900,000 b/d Manifa Field State-owned Saudi Aramco has started production at its Manifa oil field three months ahead of schedule, it announced on 15 April. It will ramp up production to 500,000 b/d by July and 900,000 b/d by end 2014...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Gulf States Reveal Shale Gas Ambitions
...ploration the Zagros region of western Iran before the end of the current Iranian year (20 March 2013 – 20 March 2014). Oman First Past The Finish Line? Of the Gulf countries though, Oman is likely to be the first to tap such unconventional deposits. The country has for some years now been st...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Qatar Tiptoes Into North American Upstream
...ns/year, is a joint venture between QP (70%) and ExxonMobil (30%). Among other projects, ExxonMobil has a 7% stake in QP’s 1.4bn cfd Barzan gas project, which is set to come online in 2014. In a joint statement, Centrica and QPI said that CQ Energy Canada Partnership (Centrica 60%, QPI 40...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Oil Exporters/Importers Performance Gap Shrinking, Says IMF
...lf Cooperation Council (GCC) countries. The report says additional oil supplies from Iraq and Libya are expected to more than offset a decline in oil exports from Iran in 2013, while lower net demand for Saudi crude exports could result in marginally lower production. Looking ahead at 2014, ov...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Cyprus Bail-Out Terms Signal Huge Policy Shift For Eurozone Bank Resolution
...idelines set in Frankfurt. The Eurogroup hopes that the SSM will begin operations in 2014. Furthermore, transactions - account opening and money transfers - will in future be subject to much greater scrutiny, removing one of the competitive advantages which Cyprus held over most Eurozone countries, where su...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Oman Relies On PDO And BP To Meet Gas Challenge
...shore tight gas field, which it took over from BG in 2010. OOC will also take over Ras al-Khaimah Petroleum’s West Bukha offshore field in the Strait of Hormuz, bringing 45mn cfd of gas onshore to Oman instead of the UAE – its current destination – when its gas processing plant starts producing by 2014 (ME...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Kuwait Follows Abu Dhabi Into Asia-Pacific LNG Investment
...in the project with a 6.4% stake. Chevron Australia Managing Director Roy Krzywosinski said the front-end engineering and design (FEED) activity on Wheatstone is nearly complete. The plant at Ashburton North will initially export up to 8.9mn t/y of LNG to South Korea and Japan in 2014. The Ku...
Volume: 54Issue: 16Published at Mon, 18 Apr 2011 -
Kuwait Advances Chinese Refinery, But KSA Leads Gulf Projects In Asia-Pacific
...art up in 2014, but MEES understands it is more likely to be 2018-19. Kuwait, which also plans to build plants in Vietnam and Indonesia, is trying to secure markets for its crude and is therefore eager to provide feedstock to these operations. It aims to boost crude exports to China to 50...
Volume: 54Issue: 16Published at Mon, 18 Apr 2011 -
Egypt Allocates $3.36Bn For Electricity Sector In 2011-12
...nstruction of other solar energy plants, starting with a 100mw plant at Kom Ombo. He also said that a technical advisory agreement for a 250mw wind farm has been signed to be set up on a build-own-operate basis by 2014. ...
Volume: 54Issue: 16Published at Mon, 18 Apr 2011