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Cyprus Lays Out Renewables Plans
...timism is not shared by the Cyprus Green Party which predicts the government could still fall short of its 13% target if more is not done on the renewables front. The Greens argue that following the 2011 Mari Naval Base munitions explosion, which took out much of the island’s main power plant at ne...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Nigerian Minister Surprises With Bid For OPEC Top Job
...mpany NNPC. It is not known who paid for the FT advert. The minister’s aides have denied the charge and she herself said in a statement after the allegations surfaced that the chartered aircraft was used to carry out official duties. Since her appointment in June 2011, the minister has been cr...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Libya: Optimism Tempered By Fighting And Production Woes
...gn Mr Maiteeq went quietly, accepting the verdict the same day, a relief for Libyans. Mr Thinni only re-assumes the post temporarily; elections are due late this month. But for the first time since the fall of former leader Mu’ammar al-Qadhafi in 2011, the country is immersed in a drawn out bl...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Jordan Plans $1Bn Bond
...reign grants to reduce its budget deficit. It expects to receive JD1,151mn ($1,623mn) in foreign grants in 2014, up from JD982mn ($1,385mn) in 2013 (MEES, 21 March). Gas Shortage Jordan’s fiscal situation worsened after the 2011 Egyptian revolution, which led to a disruption in Egyptian gas su...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
IEA World Energy Investment Outlook: Can We Still Count On The Middle East?
...the modeling and analysis are based. The focus is on the ‘New Policies Scenario’. Under this central scenario, global primary energy demand increases by one third between 2011 and 2035. This overall trend, however, masks marked differences between fuels: oil grows at 13% during the period; co...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Benchmark Crude Prices
...13 2013 2012 2011 WTI 106.53 102.58 103.47 101.90 102.02 98.56 97...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Protests Drive Libyan Output Below 1Mn B/D
...venues to finance the budget,” NOC warns. “NOC rejects the methods of extortion and threat caused by the closure of roads and the stoppage of production,” it adds. In the wake of the overthrow of Qaddafi in late 2011, NOC managed to boost output from virtually zero to 1.6mn b/d in a few months (MEES, 31 Ma...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Shale Oil And Gas: US Hikes Global Reserves Estimates
...ministration (EIA) raises its total global reserves estimate to 7.2tcf of shale gas (up from 6.6tcf in its previous 2011 report) and 345bn barrels of shale oil (up from 32bn barrels - see table). “While the 2011 report focused exclusively on natural gas, recent developments in the United States highlight the ro...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
BP Data Charts Mixed Fortunes For Middle East Producers In 2012
...cord high.” Dated Brent reached an average of $111.67/B, although this was a mere 40¢/B up on 2011. Global Output Up, Despite Iran “For the second consecutive year, a major OPEC producer experienced a significant decline in output,” said BP chief economist Christof Rühl, referring to Ir...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Mideast Refining Capacity Edges Up, Runs Fall
...wever, capacity utilization actually declined last year, with throughputs of 6.444mn b/d, down just over 1% from 2011’s record high of 6.519mn b/d. Launching the review in London on 12 June, BP chief economist Christof Rühl said that global refining capacity utilization barely improved in 2012 de...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Kuwait Ponders Long-Term Power Fuel Supply Options: MEES Analysis
...rrently has 14.56gw of power generation capacity. It has no major medium-term plans for renewable energy, and the amir has cancelled tentative plans to build nuclear plants, following Japan’s March 2011 Fukushima disaster. The power plant slated to next come onstream is al-Zour, which has been th...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
MENA Renewables Sector To Continue ‘Massive’ Growth, Says Irena
...newables Report says regional investment topped $2.9bn in 2012, up 40% from 2011. “With over 100 projects under development,” said Irena, “the region could see a 450% increase in non-hydro renewable energy generating capacity in the next few years.” MENA governments have announced additional non-hydro re...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Algeria In $96Bn Facilities Spend
...port. The company invested AD233.2bn ($3.07bn) in 2012, up 8.3% on 2011. Sonelgaz generated a total 54.09 terawatt-hours of electricity in 2012, said APS, up 10.7% on 2011. Sonelgaz says Algeria’s total generating capacity rose to 12.977gw by end-2012 from 11.392gw at end-2011. The company no...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
OPEC Voices Cautious Optimism Over 2H13 Demand
...ll again.” Average OPEC oil output in May rose by 105,000 b/d from the previous month to 30.57mn b/d, the group said – some 570,000 b/d greater than the 30mn b/d production ceiling that has been in place since December 2011. These figures compare with MEES estimates of a 61,000 b/d increase in...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Turkey At The Crossroads
...wards a single aim, ie Erdogan’s removal – that mirror the 2011 Arab Spring revolts. Erdogan may well overcome his rivals this time, but Turkey’s opposition now has a template to work from. Erdogan To ‘Throttle’ Banks Mr Erdogan’s reaction to the clashes was true to form. He continued on his to...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Qatar’s New Leadership: Impact On QP’s And QIA’s Strategies
...e p16). Shaikh Hamad also heads its subsidiary Qatar Holding. QIA’s energy buying spree started in 2011 – with stakes in European utility firms Energias de Portugal and Spanish electricity supplier Iberdrola. In 2012 it bought 3% stakes in Total and Shell, and MEES learns it is still in ta...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Egypt-IMF Talks Edge Forward; Budget Deficit Overshoots
...the first 10 months of financial 2012-13, at E£125.4bn ($17.9bn), appears on target to come in below the projected E£182.8bn ($26.1bn) annual figure and more or less level with 2011-12’s E£150bn; in fact the energy portion is set to undershoot (see graph 2). Energy subsidies – indicated in the fi...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
IMF Approves $1.74Bn Reform Loan For Tunisia
...fficulties and a series of external shocks following the 2011 revolution. It adds that due to a challenging economic environment, as well as regional and domestic tensions, real GDP contracted by 2% in 2011, foreign direct investment and tourism declined by more than 30% year-on-year, and unemployment rose to...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Benchmark Crude Prices ($/b)
...12 2011 WTI 96.69 94.26 93.48 94.75 92.09 94.42 88.25 94.18 95...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
OPEC Set To Meet Amid Falling Prices
...e global economy conspired to push the OPEC Basket price below the $100/B mark for the first time since October last year (the last time they were below this level for any sustained period was February 2011). Rafiq Latta writes. Rising OPEC production has been a key factor in first sm...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012