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Egypt To Slash Petroleum Subsidies As Part Of New Budget
...recent months been hit by severe power cuts, ultimately caused by a shortage of fuel and a lack of sufficient funds to import products from the international market. Reviewing the 2014-15 draft budget, Finance Minister Hani Qadri Dimian said that it projects total expenditure at E£807bn ($11...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Palestinian Natural Gas Ambitions
...mand. In January 2014, the three Israeli companies with a share in Israel’s Leviathan field (Avner, Delek Drilling and Ratio) announced that the Palestine Power Generation Company (PPGC) had agreed to buy $1.2 bn worth of natural gas over a 20-year period when the giant field begins production. The Le...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Benchmark Crude Prices
...Benchmark Crude Prices ($/B) 29 May 19-23 May 12-16 May Apr-14 Mar-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
ADNOC Pushes To Own Faulty Hormuz Bypass Pipeline
...erator of most of the Emirate’s onshore fields. ADCO’s concession expires on 13 January 2014 and CNPC is one of 11 firms invited by ADNOC to bid for it. ADCO is composed of ADNOC (60%); with BP, ExxonMobil, Total and Shell holding 9.5% apiece; and Portugal’s Partex (2%). State-owned CNPC has been invited fo...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Libya Eyes $80bn Downstream Drive
...oadly diversified.” Three petchem complexes are envisaged; in Mellitah and Zawiya in the west and at Benghazi in the east. Of the latter site Dr Ellob notes: “It is near population centers and can help create jobs.” Estimated costs for the three complexes, to be built in 2014-25, are $50-60bn. All three pe...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Oman Qualifies Bidders For Musandam Plant
...s Main Interconnected System (MIS) grid will rise by 9.5% a year during 2013-19, while Salalah System peak demand will grow by 12% a year. The Barka Phase 3, Sohar Phase 2 and Sur projects are expected to add a combined 3.49gw of capacity by 2014 (MEES, 24 May). OPWP is also studying a 200-300mw pr...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Saudi Aramco: 2012 Production Rises, Capacity Steady
...oduction. On 15 April, Saudi Aramco began production at its Manifa oil field three months ahead of schedule. Production will rise to 500,000 b/d by July and 900,000 b/d by end 2014, with output replacing mature fields coming offline – allowing Saudi Aramco to maintain its 12mn b/d production capacity. Ac...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
KRG Nears Separate Export Decision
...15 and a doubling of refining capacity to 200,000 b/d by 2014. Current liquids capacity stands close to 270,000 b/d. The 2015 targets are based largely on fields that have yet to be fully delineated or appraised, though there is little doubt significant growth potential exists. But for the foreign op...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Qatar Joins renewables Race In Move To Conserve North Field Gas
...likely to end the moratorium on further development when the study is completed in 2014. It has also been reluctant to expand existing export projects – declining to sell more gas to Dolphin Energy, which sends 2bn cfd of Qatari gas to the UAE and Oman via its 3.2bn cfd capacity pipeline. Furthermore, Qa...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
IMF Estimates UAE Real GDP Growth In 2011 At 4.9%
...debtedness, refinancing needs and reliance on foreign funding remain high, with about $30bn of GRE debt maturing this year and significant amount of debt falling due in 2014-15, the IMF added. The IMF executive directors welcomed the continued economic recovery and favorable near term outlook, but at...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Saudi Arabia Heads Donors Pledging $4Bn In Aid To Yemen
...itial $2.17bn to help stabilize the country, fight militant attacks and ease a humanitarian crisis. It also requires a further $5.8bn in the future to develop the economy and national infrastructure, with about $3.7bn needed by 2014. Another donors’ meeting specifically aimed at the aid pledges is to be he...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Qatar’s 2011 Growth Driven By LNG Production, Says NBK
...e chart). Growth will be led by the gas sector, where output is expected to increase by 30% in 2011. “This will be followed by a 4% increase in output in 2012, after which the moratorium on new gas projects takes effect and is due to last until at least 2014,” added the report. Oil production wi...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Abu Dhabi Moves Ahead With Shah Sour Gas Project
...pacity project to come on stream by 2015. Athens-based Consolidated Contractors Company (CCC) will start work in June on building $550m sulfur granulation and handling facilities, completing work by the fourth quarter of 2014. CCC signed a letter of intent on 25 May with state-owned Abu Dhabi Gas In...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Iraq’s Upstream Oil Contracts, 2011 And Beyond
...atures 143bn barrels of proven oil reserves (plus an estimated 30bn barrels in Iraq’s Kurdistan region), a four-year oil production plan targeting 6.5mn b/d by the end of 2014, and a contracted daily capacity expansion plan of more than 12mn b/d by the year 2017. Figure 1: Geographic Di...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Independents Growing In Importance For Gulf Oil And Gas Developments
...ip Iraqi gas to Europe through Turkey via the proposed 3,300km Nabucco pipeline by 2014. Dana’s willingness to enter a high-risk environment, however, can backfire – Iran refuses to supply 600mn cfd of gas to the UAE via a pipeline it built with Dana, as it wants a price higher than that agreed in 20...
Volume: 53Issue: 22Published at Mon, 31 May 2010 -
IEA Sees Tougher Financing And Weakening Demand Hitting Energy Investment
...OC 2009 2012 25 Azadegan South II Iran Onshore Oil NIOC 2012 2014 11...
Volume: 52Issue: 22Published at Mon, 01 Jun 2009 -
Gasco Concession Renewal Terms Viewed As Tough On International Partners
...scribed as very tough on the international partners. But they were finally prepared to accept them, said one ADNOC source, because of their other aspirations in Abu Dhabi: their wish to obtain the renewal of the concessions for oil and gas production that are due to expire in 2014 and 2018. Gasco’s br...
Volume: 52Issue: 22Published at Mon, 01 Jun 2009 -
Engineering Consultancy Awarded For Merowe Hydro Project
...der consideration could bring an additional 763mw of generating capacity online in the period to 2010 (see tables). According to government figures, power demand expressed in tons of oil equivalent (toe) is expected to rise to 342toe in 2002, 442toe in 2005, 794toe in 2010 and 1,309toe in 2014. Su...
Volume: 45Issue: 22Published at Mon, 03 Jun 2002