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Egypt: Poor Turnout Takes Shine Off Sisi Election Victory
...cular activists that had taken part in the 2011 Arab Spring revolution, arresting journalists that did not toe the government line. The media has long whipped up nationalist fervor in support of Mr Sisi, and a well-funded campaign has fostered a personality cult around the army strongman. The Muslim Br...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Natural Gas Find To Propel Cyprus Towards Reunification?
...tural gas deposits in 2011 has given both Turkish Cypriots in the north and Greek Cypriots in the government controlled area in the south extra impetus to solve the division of the island. The consensus among experts is that the discovery of the 5 tcf Aphrodite field in Block 12 of Cyprus’ Exclusive Ec...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Egypt To Slash Petroleum Subsidies As Part Of New Budget
...too low however, and could threaten growth, Egyptian economists warn. Social Expenditure In Egyptian Budgets: 2011-2015 (E£ Mn) 2014-15* 2013-14** 2012-13 2011-12 Total So...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Benchmark Crude Prices
...13 2012 2011 WTI 103.58 103.42 101.64 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Tripoli Touts Progress In Face Of Security Challenge
...e Mellitah gas plant which left one guard dead, Dr Berruien said security problems have been exaggerated. The drilling of 19 exploration and appraisal wells, and acquisition of “more than 2,000 sq km of (3D) seismic” since October 2011 is proof oil companies can do business in post-revolutionary Li...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Abu Dhabi Habshan Gas
...ortage. Nitrogen Injection GASCO is preparing to inject 600mn cfd of nitrogen by mid-2014 into Habshan wet gas field, and in doing so recover the same volume of gas – currently used for reinjection – for delivery to Habshan 5 (MEES, 19 September 2011). Currently, most of the heavier ‘field condensate’ is...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
ADNOC Pushes To Own Faulty Hormuz Bypass Pipeline
...ased around 1mn barrels of liquid fuel storage at Vopak Horizon’s terminal. Aramco Trading, founded at the start of 2011, is Saudi Aramco’s refined products trading arm. Saudi Aramco and Shell are likely hoping to target the Asian market and take advantage of Fujairah’s strategic po...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Libya Eyes $80bn Downstream Drive
...chnologies.” Libya’s only current foreign downstream joint venture, the 50% stake of Dubai’s Al-Ghurair group in Ras Lanuf, has not been a happy one. Under the terms of the 2009 investment, Al-Ghurair was to invest $2bn in modernizing and expanding the plant. But a combination of factors, most notably the 2011 ci...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
EU Renews Sanctions On Syria
...y that Syrian production of oil had fallen to only 20,000 b/d, that is to say a mere 5% of the 380,000 b/d Syria was producing before the start of the civil war in March 2011. In early May Mr ‘Abbas estimated Syrian crude production at 70,000 b/d (MEES, 10 May). This has forced his country to...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Saudi Aramco: 2012 Production Rises, Capacity Steady
... SAUDI ARABIA Saudi Aramco: 2012 Production Rises, Capacity Steady Saudi Aramco’s 2012 Annual Report, released on 27 May, shows crude production hitting a record 9.51mn b/d, up over 440,000 b/d on 2011’s previous record. Gas output of 10.7bn cfd, up 9% on 2011, is al...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
IMF Sees Positive Economic Developments In Iraq
...12 from $1,300 in 2004. This favorable IMF assessment comes at a time when violence in Iraq has surged to new highs and Sunni opposition to the Shi’a dominated government has become more pronounced. The IMF notes that fiscal surpluses reached almost 5% of GDP in 2011 and 4% in 2012 as a re...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Libya Faces Hurdles Despite Rebound- IMF
...12 as hydrocarbon output was rapidly restored. Inflation fell to 6%. This compares with a 62% fall in GDP in 2011. The 2012 budget recorded a surplus of almost 21% of GDP and the current account surplus widened to 36% of GDP. The fall in hydrocarbon exports in 2011 led to a budget deficit of 15.4% of GD...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Kuwait Grants Oman $2.5Bn
...rt of a $20bn GCC funding program pledged by Saudi Arabia, Qatar, the UAE and Kuwait, to extend $10bn each to Oman and Bahrain for development projects. The program was approved in March 2011 to ease tensions and promote economic development following pro-democracy uprisings (MEES, 9 May 2011...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Benchmark Crude Prices
...13 Q4 2012 2012 2011 WTI 93.61 95.11 94.97 92.09 92.98 94...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Saudi Aramco Boasts Growing Solar Prowess, Eyes Geothermal
...nior energy figures in the Kingdom are growing more frequent as the fuel problems intensify. The IMF estimated 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 hi...
Volume: 56Issue: 22Published at Wed, 01 May 2013 -
KRG Nears Separate Export Decision
...rkey wants to be one of the top 10 economies in the world by 2023, and it has identified Iraq in general, and the KRG in particular, as strategic fuel sources for this planned economic expansion. “We need KRG oil and gas,” concedes a Turkish diplomat. And energy imports are only part of the story. In 2011...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Saudis Stick To Economic Expansion, Despite Crude’s Eurozone Jitters
...December 2011). During crises Saudi Arabia does not see the outflows of investments that hit other places like Dubai, but this shows its isolation and “betrays a weakness in the Saudi system,” comments Crispen Hawes, Director of the Eurasia Group. Concern over the crisis could delay the regulatory re...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Qatar Joins renewables Race In Move To Conserve North Field Gas
...tar faces a 10% drop in its associated gas as crude output falls. $20Bn Power/Water Expansion In 2011, Qatar’s total installed capacity was 8.76gw, while peak demand was 5.5gw. This gives a reserve margin – the spread between power demand and production capacity – of 37%. Qatar plans to sp...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Turkey Warns Of ‘New Problems’ In Wake Of Cyprus Licensing Round
...TRNC (MEES, 5 December 2011). Any activity of international oil companies in these areas in future would bring them into confrontation with TRNC and TPAO and caused undesired tension. Turkey…acting upon its responsibilities as a motherland and a guarantor power, will give every support to TR...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
CGES Says Saudi Output Hike Aimed At Avoiding Oil Price Spike Over Iran Embargo
...12 4Q12 2010 2011 2012 World Oil Demand 89.2 89.5 89.1 88.3 90.0 90...
Volume: 55Issue: 22Published at Mon, 28 May 2012