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IEA World Energy Investment Outlook: Can We Still Count On The Middle East?
...e region’s domestic oil demand increases from 7 to 10mn b/d, while that of natural gas from 400 to 700 bcm/year. To meet the above demands, the study under review estimates that a cumulative global investment of $48.2 trillion (2012 dollars) is needed between 2014 and 2035, $40.2 trillion of wh...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Benchmark Crude Prices
...OIL PRICES Benchmark Crude Prices ($/B) 12 Jun 2-6 Jun 26-30 May May-14 Apr-14 Q1 2014 Q4 20...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Mideast Refining Capacity Edges Up, Runs Fall
...st ambitious expansion plan – three 400,000 b/d capacity refineries, due onstream in 2013, 2014 and 2016. The UAE is building a 417,000 b/d plant which is due onstream in 2014, while Algeria’s Sonatrach has announced a plan to build four 100,000 b/d capacity refineries for 2017 start-up. Also Oman is lo...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
IMF Approves $1.74Bn Reform Loan For Tunisia
...record levels of 18.9%. But, following the sharp economic decline, the economy began a moderate recovery in 2012. The IMF predicts GDP growth will strengthen to 4.0% in 2013 and 4.5% in 2014. However debt has continued to grow, with the budget deficit set to hit 6.4% of GDP this year (see gr...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Iraq’s Integrated National Energy Strategy: Summary And Key Recommendations
...cessarily uncertain, and a range of production profiles therefore has been considered for planning purposes. Iraq’s primary upstream strategic objective now is to ensure that the development of these fields proceeds expeditiously, aiming for production by the end of 2014 at a rate between the me...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Kuwait’s Oil Minister Stands Firm Against MPs, Appoints Senior Management
...urisly as chairman and managing director. KOTC plans to build nine tankers by 2014 – taking the total to 33 (MEES 30 January). Mr Khashti is a veteran KPC executive whose positions have included heading Kuwait Gulf Oil Company (KGOC) and Kuwait Foreign Petroleum Exploration Company (Kufpec). Mr Bourisly be...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
New Algerian LNG Capacity Faces Lack Of Gas
...sition to supply them a final investment decision (FID) has been repeatedly put back. The project, which had been due on stream in 2014, will almost certainly be shelved later this year. Italy, which remains Algeria’s top export customer, is already linked (via Tunisia) by the TransMed pi...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
NIORDC Announces Oil Products Agreement With Iraq
...ana that the two sides confirmed an agreement for the construction of a 270km gas pipeline by December 2014 for the supply of 25mn cmd of Iranian gas to the Baghdad and al-Mansoura power plants. Mr Owji added that Iraq again expressed its support for a 5,800km gas pipeline linking Iran with Iraq, Sy...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Pakistani President Reaffirms Commitment To Iran-Pakistan Gas Pipeline
...s government was committed to complete its part of the 7.8 bcm/year capacity pipeline by 2014. In related news National Iranian Gas Company (NIGC) director of gas distribution Mostafa Sheikh Bahaie told reporters on 5 June that the Iranian component of the Iran-Pakistan pipeline was almost 75% co...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Alstom Awarded €500Mn EPC Contract By Dalia For 835MW Tzafit Power Plant
...s-fired power plant at Tzafit in Israel. The contract covers the supply and construction of two 417mw gas-fired combined cycle units as well as associated civil works and switchgear. The plant will be located 40km southeast of Tel Aviv and commissioned in 2014. Alstom is expected to sign a 20...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Aramco Accelerates 900,000 b/d Manifa Offshore Project
...ojects – 1.2bn cfd Arabiyah field and the 1.3bn cfd Hasbah field. They are to come on stream in 2014. While Saudi Aramco’s crude output in 2010 was slightly down from the previous year at 7.91mn b/d, it boosted gas production by over 600mn cfd over the previous year to hit 9.39bn cfd as full ca...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Qatar Eyes Yamal And Iran Investments, Technical Problems Close LNG Plants
...extra 1.5bn cfd of gas by 2014 for power generation. However, “our local electricity demand forecasts are all over the place,” a QP official tells MEES. The problems appear to have already created one casualty, Faisal al-Suwaidi, former CEO of Qatargas, who was forced to resign this month as pr...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Aegean And Groundstar Revise West Kom Ombo Farm-In Terms (15)
...oundstar Resources to acquire a 70% stake and operatorship of the West Kom Ombo (WKO) block in Egypt’s south central desert, it was announced on 7 June. Aegean has committed to drill a minimum of four exploration wells at a cost of up to $30mn by September 2014, but notes that seismic data has not been ac...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
KFIC Agrees $495Mn Debt Restructuring Deal
...nders and shareholders to restructure KD145mn ($495mn) in debt, it announced on 7 June. The five-year restructuring proposal was approved by all 22 local and international lenders, and will see the debt paid in four tranches, the last of which will be settled on 31 December 2014. The company’s debt re...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
NBK Says Kuwait Consumer Spending On The Rise
...2014, a target NBK cites as achievable if all planned projects and policies are implemented on schedule. “Still, at this rate, new jobs may not be enough to absorb all entrants into the labor market,” it said, adding that while the consumer sector is recovering nicely, employment growth would be ab...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Naimi Assesses International And Saudi Energy Prospects
...ojects around 2014 or earlier than that? AN: Earlier than that, probably 2012. We are continuously looking every year at two things: what we need to do to maintain our capacity today, which requires two thirds of the dollar; and we also look at our production capacity compared to what we think the ca...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Global Energy Market Challenges And Long Term Responses
...ughly 7.6mn b/d out of a total potential 14.5mn b/d between 2009 and 2014 is at risk due to the oil price collapse. Although economic growth in the oil producing countries is projected to slow due to the impact of the crisis, the period of high oil prices in the past few years provided some go...
Volume: 52Issue: 24Published at Mon, 15 Jun 2009 -
Fesharaki: High Prices Not Threatening Demand Growth In Industrialized Countries
...rticularly in the industrial world.” Dr Fesharaki argues that recent market behaviour suggests it is increasingly reasonable to assume that worldwide oil demand would plateau at about 100mn b/d with prices remaining robust: “At current prices we expect it would be 2014-15 before demand flattens out, an...
Volume: 49Issue: 24Published at Mon, 12 Jun 2006 -
Moody’s Assigns Baa3 Rating To BankMuscat Bond Issue
...Middle East Economic Survey VOL. XLVII No 24 14-June-2004 RATINGS Moody’s Assigns Baa3 Rating To BankMuscat Bond Issue Ratings agency Moody’s on 9 June assigned a Baa3 long-term domestic currency debt rating to the BankMuscat’s Omani Rial senior fixed rate bonds due on 30 June 2014...
Volume: 47Issue: 24Published at Mon, 14 Jun 2004 -
CPC Defends Pipeline Project Against Transneft Charges
...troduce a special tax regime or special customs regime for the CPC." The CPC began filling the 1,580km pipeline in March (MEES, 2 April). Initially the pipeline will carry 560,000 b/d (28mn t/y), which is expected to increase to 1.36mn b/d (67mn t/y) by 2014. The pipeline was originally scheduled to make it...
Volume: 44Issue: 24Published at Mon, 11 Jun 2001