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Saudi Drilling Boost For Services Firms
...source base.” Schlumberger expects strong activity in northern Iraq to continue throughout 2014. Mr Kibsgaard expects full-year Iraqi revenue level with 2013. Going into 2014, Schlumberger viewed the Middle East, as a “major growth driver” (MEES, 31 January), a prediction more than borne out in the fi...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Kicks Off Phase II Of Subsidy Reform
...pular support for Mr Rohani into the new year. Under the first phase of the plan, which began in December 2010, the cash handouts paid out exceeded the savings from reduced subsidies. This raised the already existing budget deficit. In the year which ended on 20 March 2014, the government paid $18bn in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Libya: Oil Income Slips
...LIBYA Libya: Oil Income Slips Libya’s oil revenue in the first quarter of 2014 was “less than $4bn,” Acting Oil Minister ‘Umar Shakmak says. This implies average oil exports of around 400,000 b/d. The minister is optimistic that production can be quickly raised to 1....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 24 Apr 14- 17 Apr 7- 11 Apr Mar-14 Feb-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Abu Dhabi Onshore Awards Unlikely Before ADCO Concession Ends
...elds. ADNOC Director General ‘Abd Allah al-Suwaidi on 23 April suggested that a decision may not be reached on Abu Dhabi Company for Onshore Oil Operation’s (ADCO) contract by the time it expires on 13 January, 2014. More than 10 firms have been invited to bid for its concession. ADCO is co...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
Total Signs $1.3bn Ras Laffan Condensate Splitter Deal; Seeks Saudi, Iraq Projects
...tsui (1%). A diesel hydrotreater, which will process gasoil from Ras Laffan 1 and 2, should be commissioned by the second half of 2014. It will produce “ultra-low-sulfur diesel, which meets the most stringent environmental specifications,” QP said. Like its peers, Total sees the Middle East and Asia as...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
Total Sees Partnerships, Technology, Exploration Driving Growth
...ok a 25% stake in exploration Block B/C, operated by CNOOC. And expectations for the first B/C well, scheduled for end-2013/early 2014 drilling, are high in the wake of Wintershall’s March announcement of a major discovery at its offshore Block 4. Last year, Total signed an extension to 2039 for its 23...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
Iraqi Provincial Elections: Prelude To A New Balance Of Power
...mpaigning to unseat Mr Maliki before January 2014 parliamentary elections, but has so far failed. The provincial election is a test of strength for both camps. MEES learns from senior Iraqi opposition sources that Iran has informed them of its continued support for Mr Maliki and that Tehran does not want hi...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
International Oil Market Developments
...t seen for three decades. Nobody speaks now of peak production. • The continued increase in global demand from emerging countries, and its continued decline in the industrialized OECD countries. In 2014, the consumption of industrialized countries will, for the first time in the history of...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
Abu Dhabi Burns More Crude And Gasoil To Meet Power Challenge
...ES at the Sour Oil and Gas Advanced Technology conference on 25-29 March. It will ramp up in 2015 to 500mn cfd of sales gas instead of the targeted 2014. Some estimates have shown Bab and offshore Hail each potentially providing 400-600mn cfd of sales gas, but Habshan 5 is not designed to handle the am...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Qatar’s $5Bn Barzan Project Financing Moving Ahead
...pected to be completed this year, could also include an Islamic tranche, although ultimately this will depend on how competitive it is with the other sources of funding being tapped. Barzan was originally planned for 2012 start-up, but that date was put back to 2014. Now that the two EPC contracts ha...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Cyprus Warns Investors Against TPAO East Mediterranean Block Offer
...seismic available. TPAO holds 100% interest in all the blocks until 2014 and operatorships are available along with past-cost information. Operators would be required to draw up a minimum work program that includes seismic acquisition and drilling. According to TPAO there exist five large st...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
IMF Calls For More Broad-Based Reforms In Egypt
...prevent the build-up of inflationary momentum should it fail to abate as rapidly as the authorities expect. Planned broad-based reforms, particularly those aimed at fiscal consolidation, are seen as key to the authorities’ objective of reducing the fiscal deficit to about 3% by 2014-15. “In...
Volume: 53Issue: 17Published at Mon, 26 Apr 2010 -
Fifteen Firms Seeking To Bid For Tiaret Refinery Project
...mpletion in 2014, will have a capacity of 15mn tons/year, with the petroleum products, notably gasoline, gasoil, jet fuel, butane, propane and naphtha, destined for the local market and for export. Algeria’s existing refining capacity stands at around 22mn t/y and is in the process of being expanded to 26...
Volume: 52Issue: 17Published at Mon, 27 Apr 2009 -
IMF Says Lebanon So Far Unaffected By Global Financial Crisis
...ternational trends. Lebanon: Selected Economic Indicators 2006-14 2006 Prel Act 2007 Prel Act 2008 Est 2009 Proj 2010 Proj 2011 Proj 2012 Proj 2013 Proj 2014 Proj Output and Pr...
Volume: 52Issue: 17Published at Mon, 27 Apr 2009 -
PGNiG Signs LNG Deal With Qatargas
...quefied natural gas over 20 years. The LNG will be delivered from 2014 into a terminal being built at the Baltic port of Świnoujście, which will be able to take the new Q-Flex class of LNG carriers. The agreement is part of Poland’s drive to reduce its dependence on Russia, currently its main su...
Volume: 52Issue: 17Published at Mon, 27 Apr 2009 -
PETRORabigh Phase II MOU Signed By Saudi Aramco And Sumitomo
...ne 2010, and Phase II should come on line by the third quarter of 2014, Saudi Aramco said in a 20 April press release....
Volume: 52Issue: 17Published at Mon, 27 Apr 2009