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Libya: Battlelines Drawn As Clashes Force Groups To Choose Sides
...andoff raises both the spectre of civil war, and an end of the political stalemate that has stalled progress since the overthrow of deposed leader Mu’ammar al-Qadhafi in 2011. On 16 May, the “Libyan National Army” commanded by former general Khalifa Haftar attacked the bases of Islamist militia in Be...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Yemen Mired In Fuel Subsidy Dilemma
...fficult to eliminate, as their main beneficiaries in society push – or in some cases even riot – to hold on to their subsidy-related ‘benefits.’ What was already a politically thorny issue however has taken on another dimension, in the aftermath of the 2011-12 wave of revolutions that swept across the Mi...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Can Saudi Arabia and Iran Put Regional Rivalry To Rest?
...esident Obama’s visit to Riyadh convinced Saudi rulers that compromises were necessary with Iran at this time. It may be that Riyadh is signalling a readiness to put an end to the simmering Shi’a-Sunni conflict that has reared its head since 2011 and is threatening the cohesion of countries like Iraq. An...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sisi Promises Economic Reforms
...ne which began shortly after the fall of Husni Mubarak in 2011. Saudi Arabia, Kuwait and the UAE pledged $12bn in aid after the removal of Islamist president Muhammad Mursi last year. Cairo is currently receiving assistance in the form of petroleum products from Saudi Arabia. The head of the Eg...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Iraq: Is Future Near-Total Reliance On Gas-Fired Power Justifiable?
...wer Generation In Iraq (%) As for natural gas, in contrast to the $4.5/mn BTU LNG netback price used in MoE, Iraq’s average border price for possible exports of dry-gas/LNG to six destinations; calculated by the IEA (2012, p127), indicates an average netback price of $10.30/mn BTU for 2011. Th...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Fossil Fuel Consumption Subsidies ($Bn, IEA estimates)*
...Fossil Fuel Consumption Subsidies ($Bn, IEA estimates)* 2012 vs 2011 2012 vs 20...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 103.74 101.64 100.00 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Kish Gas Startup Claims Half-Baked
...e main sticking point. MEES understands that the two sides came close to reaching an agreement in 2011, but an eleventh hour change of heart on the part of the Iranians put a halt to proceedings. “The project has been shelved, with Oman now focusing on the development of its tight gas at Khazzan and Ma...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Egypt: Leadership Changes Buffet Oil Sector
... EGYPT Egypt: Leadership Changes Buffet Oil Sector Egypt has appointed a new head of state oil firm EGPC and its fourth oil minister since the 2011 revolution. Political connections, rather than industry experience, appear key to the appointments. Eg...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Libya: New Law Divisive
...ficial posts during the Qadhafi era (1969-2011) face a 10-year bar from political office. The law will affect a number of senior politicians who were leading figures in 2011’s revolution, including Prime Minister ‘Ali Zidan, GNC President Muhammad Magraif, former prime minister Muhammad Jibril and NTC ch...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
International Expansion Leaves Turkish Firms Vulnerable To Political Instability
...e main testing ground for this Turkish corporate charge into energy. But Iraq (and the KRG in particular) is also the key area of investment concern for Turkey. Iraq has since 2011 been Turkey’s second biggest export destination, but other significant trade relationships are also with politically fr...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Lebanese Officials Upbeat Despite Warnings
...P ratio to 133% in 2014 from 130% at present. The IMF expects Lebanon’s fiscal deficit to balloon to 9.7% of GDP from 9% for 2012 and 6.1% for 2011, according to figures contained in its Regional Economic Outlook Update, released this week. Lebanon is rated B with a negative outlook by St...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Bahrain’s Economic Outlook Vulnerable To Oil Price Risk, Says IMF
...nsultation. The IMF observed that although economic activity improved following the 2011 downturn, the absence of an enduring solution to the country’s political tension means investment is expected to remain weak. This implies only moderate non-oil growth “below 4% in 2013 and over the medium te...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Qatar’s Energy Minister Pledges To Reverse Production Decline
...d been delayed as an overheated construction market pushed its price tag up to $6bn. But the multi-billion dollar price tag for Bul Hanine redevelopment indicates how seriously Qatar is taking the output decline. Dr Sada became minister in January 2011, when previous energy minister 'Abd Al...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Successful Licensing Round Launches Cyprus Hydrocarbon Push
...ccess in the Levant Basin in recent years, including a discovery of 5-8 tcf of natural gas in Cyprus’ Block 12 in December 2011. Asked why it chose not to participate, Noble told MEES in a statement that its decision “is based on a determination to concentrate Noble’s human and financial capital on the ap...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Sadara Seeks Funding Amid Saudi Liquidity, International Lender Uncertainty
...e approach to ECAs just after the final investment decision was announced on 25 July last year (MEES, 8 August 2011). It was only once meetings were wrapped up with the ECAs – they finished in April – that banks were officially approached. Saudi institutional lenders, the Public Investment Fund (PI...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Yemen LNG Pipeline Hit Again As Hadi Steps Up AQAP Offensive
...e key pipeline, which to this day has not yet been repaired (MEES, 24 October 2011). International oil companies (IOCs) meanwhile are remaining very cautious with regard to their short term plans in Yemen, with most admitting a return of foreign staff to the Gulf state is still far off. “Th...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Tunisia: Oil Production Slump Exacerbates Budget Shortfall
...TUNISIA Tunisia: Oil Production Slump Exacerbates Budget Shortfall Tunisia, the country that started 2011’s Arab Spring, was much less rocked by violence than neighboring Libya and nearby Egypt. But economic and political turbulence combined with a (largely unrelated) slide in cr...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Ankara Assumes Critical Regional Energy Role
...ake in the OMV-operated Bina Bawi block for $175mn. Bina Bawi has run into problems on wells since striking oil in 2010. A second well was abandoned in late 2011, while a third found hydrocarbons, but failed to reach target depth. But partners have confidence in the block and are eyeing an, albeit de...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
IEA Sees Global Demand Rising To 90Mn B/D During 2012
...r 2011 oil consumption. The Paris-based agency said non-OECD countries would account for all of the growth, with demand rising from 43.5mn b/d to 44.8mn b/d, and that demand in OECD countries would fall from 45.6mn b/d to 45.2mn b/d. The IEA said data for the month “paints a marginally ti...
Volume: 55Issue: 21Published at Mon, 21 May 2012