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Gulf Petrochemicals Firms Expanding Capacity Despite US Shale Threat
...hylene capacity rising by 3.7% a year in the medium term, to 183.4mn tons/year in 2017 from 147.6mn t/y in 2011 (MEES, 2 November 2012). Despite the shifting market economics, Gulf petrochemicals companies are pressing ahead with expansions. Gulf Petrochemicals and Chemicals Association (GPCA) Se...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Changes At The Top, As OPEC Eyes Q3 Market Trajectory
...tually managed to post a rise in exports to the US last year (see graph 1). These rose from 1.186mn b/d in 2011 to 1.356mn b/d. However, with US liquids output set to relentlessly rise over the next decade, the trend for OPEC is downwards (see graph 3). US imports of OPEC crude hit a record of 5....
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Benchmark Crude Prices/Iraqi Crude Exports and Revenues
...OIL PRICES Benchmark Crude Prices* 9-May 29 Apr - 3 May 22- 26 Apr Apr-13 Mar-13 Q1 2013 Q4 2012 2012 2011 WTI 96.39 93...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
South Sudan Brings Largest Oil Field Back Online
...oduction at the field has begun at around half the levels seen in late 2011, Dar Petroleum chief Joseph Potdung said. “Within a month we should be reaching 165,000 b/d to 180,000 b/d, and we would expect to reach the level…we were [at] before the shutdown by early next year.” While these ti...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
OMV Output Up On Yemen, Libya Stability
...a result of a more stable environment in both countries following the upheavals of the ‘Arab Spring’ in 2011 and 2012, the company said. Production in the first three months of 2013 was up just 1,000 boe/d from the previous quarter’s average, but 1% up on the corresponding quarter in 20...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Oman Reviewing Electricity Policy, Targeting Efficiency
...ectricity Intensity (Megawatt-hours per user account) 2005 2011 % Change Residential 12.8 16.3 27 Industrial 1,561.50 4,074.90 161 Co...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Libya ‘Mob Rule’ Sounds Investment Alarm
...byan oil veteran. The contrast could not be sharper with the optimism generated by the oil industry’s Phoenix-like rebirth from the 2011 civil war. Confounding outside commentators, Libyan oil professionals managed to bring output from almost zero in August 2011 to over 1mn b/d in just five mo...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
North African Oil Investors Head For The Exits
...vestment. But both BG and Hess’ exit plans pre-date the In Amenas slaughter, MEES understands. Prior to In Amenas, Algiers had been planning to hold a new upstream bidding round this year, its first since March 2011. If this goes ahead, the round will be a key litmus test of whether the country ha...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Poland’s Kulczyk Buys Winstar
...t). The company also has exploration acreage in Syria (Block 9, under force majeure), Romania and Brunei. The addition of 11.2mn boe reserves (2P) from the Winstar acquisition more than doubles the Polish firm’s existing reserves. Although Tunisian output remained relatively steady in 2011 de...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Cairo Reinstates IMF Loan Negotiator
...oducts alone stood at an estimated $1.3bn for the fiscal year 2012-13, up from $1.1bn in 2011-12, according former oil minister Usama Kamal....
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Kuwait Grants $215Mn For Jordan LNG Terminal
...abia and the UAE, with each of the four countries providing $1.25bn. The fund was set up in December 2011 in the wake of the Arab Spring and its resources are to be disbursed over a five-year period (MEES, 12 April). The first agreement covers a $65mn grant to be used to help part-finance an LN...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Total Sees Multi-Billion Dollar Solar Opportunity
...cently the world’s largest producer of solar panels, Suntech Holdings, filed for bankruptcy in March. BP withdrew from solar in late 2011. Shell, while it still has solar interests through associate firm Showa Shell (including a joint venture with Saudi Aramco to make solar cells in Saudi Arabia, an...
Volume: 56Issue: 19Published at Fri, 10 May 2013