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Yemen LNG Sees Upturn In 2013 Fortunes
...ng Kong-based Prospect Group on 13 May. He notes that Yemen managed to produce 6.9mn t/y in 2011. Repeated shutdowns during 2012 – when Yemen LNG had to contend with seven separate bombings of the gas pipeline feeding its Balhaf liquefaction plant on Yemen’s southern coast – meant the plant pr...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
US Gets Tough On Iran Sanctions-Busting
...ports have since plummeted, falling to around 1.1mn b/d in March 2013 according to the International Energy Agency (IEA), down from near 2.5mn b/d for 2011. Among Iran’s key East Asian customers US allies Japan and South Korea have cut imports the most; China – now by far the biggest buyer of Ir...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Libya’s 2013 Budget Heading To Surplus
...LIBYA Libya’s 2013 Budget Heading To Surplus The freshly-released details of Libya’s 2013 budget shed some light on how the North African state in transition will spend its money in the year ahead. Whilst the country saw a rapid rebound in oil production after 2011’s re...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
IEA: US Shale To Sideline OPEC Going Forward
...chnology improvements and the long-term behavior of oil prices. OPEC vs IEA Supply-Demand Balances (Mn B/D) 1Q12 2Q12 3Q12 4Q12 2011 20...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Benchmark Crude Prices/OPEC Allies: Kuwait and UAE Production
... OIL PRICES Benchmark Crude Prices* 16-May 6 -10 May 29 Apr - 3 May Apr-13 Mar-13 Q1 2013 Q4 2012 2012 2011 WTI 95.16 96.09 93...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Qatar Awards Condensate Splitter Project To Chiyoda/CTCI
...chnip, under a contract awarded by Qatargas in August 2011. Earlier, Technip carried out the FEED for LR1. Looking ahead, QP is expected to add an aromatics plant to the condensate splitters complex. This will provide benzene, toluene, and xylene feedstock for the domestic petrochemicals sector. ...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Kufpec Targets 96,500 BOE/D By End-2013
...erall production has already risen to 80,000 boe/d from around 72,000 boe/d for both 2011 and 2012 (MEES, 12 April). The key boost has come from the Qadirpur gas field in Pakistan and from the expansion of the company’s Chinese output with the recent purchase of BP’s 34.3% stake in the Yacheng offshore ga...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Calls Mount To Change Saudi Subsidies
...timated in 2011 that Saudi Arabia spends about 20% of its GDP supporting subsidies, including fuel subsidies. This proportion has continued to grow as subsidized prices in turn fuel ever higher demand growth. Stirrings Of Discontent Senior political figures are increasingly speaking out ag...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Baghdad Kicks Off Production Target Talks
...ghdad – the controversial al-Qush and Baeshiqa blocks that lie in disputed territory (MEES, 21 November 2011). ...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Algeria Looks To New Terms To Boost Unconventionals Investment
...ree bid rounds conducted since Algeria introduced the current hydrocarbons law (in 2008, 2009 and 2011), with only nine blocks awarded out of 36 on offer (MEES, 21 March 2011). The changes will have their limits: the rule requiring state firm Sonatrach takes a 51% stake in all contracts will st...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Iraq Spearheads OPEC Output Surge
...ril 2011 – April 2012 (MEES Estimates – '000 B/D) 2012 2011 Apr Mar Feb Jan Dec No...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Security Fears And Regional Tension Overshadow Libyan Progress
...Block C-137, which produces al-Jurf crude) and Eni (Melitah Oil’s Block NC-41) earlier said they had returned to offshore exploration. Meanwhile, Repsol plans to recommence exploration drilling on 1 November as part of what it calls its “2011-2013” exploration campaign on Murzuq Basin Bl...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Global Markets To Remain Tight Through 2012, Says EIA
...y. World liquid fuels consumption increased by some 800,000 b/d in 2011, the EIA said, adding that consumption is seen as growing by 1.0mn b/d in 2012 and by 1.2mn b/d in 2013. China, the Middle East, South America and other countries outside the OECD will account for essentially all consumption gr...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Saudi Crude Prices Raised To West, Reduced For Far East
...ter B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2012 2011 Jun May Ap...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Crude Oil Formulas/Posted Prices
...EC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Jun May Ap...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Bahrain In Push To Ramp Up Domestic Oil And Gas Production
...velopment of its only refinery, but is expected to do so within the next 12 months, Bapco CEO Gordon Smith said. According to the country’s National Oil and Gas Authority (NOGA) Bahrain produced an average of 42,510 b/d in 2011 from the Bahrain field, operated by Tatweer – a joint-venture between No...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Noble Discoveries In Levant Basin Total 35 TCF, CEO Tells Cyprus-US Chamber
...exported abroad.” In December 2011, Noble announced the discovery of 5-8 tcf of natural gas in the Aphrodite field in Block 12, putting a mean estimate of 7 tcf (198bn cu ms). Cyprus’ domestic demand for natural gas is estimated at 35.4bn cu ft (1bcm) in 2020. Appraisal drilling in Bl...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
UK To Push For Delay Of Iran Reinsurance Ban, Iran Eyes Private Sector Exports
...e marketing process. In related news, Turkey increased its imports of Iranian crude to 1.17mn tons in March 2012, the highest monthly total since July 2011, the Turkish Statistical Institute (TUIK) reported on 8 May. MEES understands that the increase reflects an attempt by refiner Tupras to...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Iran Starts Work On First Salt Cavern Gas Storage Facility
...eld was converted for use as Iran’s first strategic gas storage facility and filling began a year ago (MEES, 23 May 2011). NGSC plans to reach its initial storage target of 1.5 bcm at Sharajeh by the end of March 2013, with capacity to withdraw up to 10mn cmd during the winter peak demand season. Sh...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Iran Plans Iraqi Gas Pipeline As Extension Of IGAT-6
...pacity of 25mn cmd. The pipeline is intended to provide gas feedstock for Iraq’s two largest thermal power plants, Sadr and al-Quds. These are in the eastern suburbs of Baghdad and have a combined generating capacity of 2.5gw. Iran and Iraq signed a preliminary agreement for gas supply in May 2011. ...
Volume: 55Issue: 20Published at Mon, 14 May 2012