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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 -
Bapco To Firm Up Refinery Expansion Plans By Year-End
...tap this for its expansion projects, MEES understands. Saudi banks have increasingly been lending across-border, and took big tickets on Qatar’s $10bn Barzan 1.4bn cfd gas/NGL project, which signed an agreement to receive financing in December last year (MEES, 19 December 2011). Other Ba...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
South Stream Construction To Begin By December
...May. Besides signing an agreement to establish the joint venture company, Mr Miller and Slovenia’s Prime Minister Yanez Yansa also discussed the details of the existing contract under which Gazprom supplied 530mn cmd of gas to the Central European state in 2011. Slovenia covers around 50% of its ga...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
New Algerian LNG Capacity Faces Lack Of Gas
...peline, which was expanded by 6.5 bcm/y to 33.2 bcm/y in 2009. Italian imports from Algeria rose to 27.6 bcm for 2010 but data from key importer Eni, whose 2011 imports of 13.9 bcm were down 14% on 2010, indicates that volumes have since fallen as Italy again slid into recession. Total Algerian gas export vo...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
OPEC Talks Collapse In ‘Worst’ Meeting
...asures that will help to calm the market,” Mr Tanaka continued. Opponents of the Saudi-led initiative pointed to high stocks as reason not to hike output. “Inventories are the highest for five years,” argued one delegate, adding that in his view demand would be no higher in 2011 than it was last ye...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Salih Flown To Saudi Arabia After Attack On Palace
...edit have stopped supplying Yemen due to our inability to pay, Mr 'Aidarus said. Most output of 110,000 b/d Light Marib crude remains shut in after the explosion. “In Yemen, production has been stopped since mid-March 2011 due to an attack on the Safer export pipeline,” OMV official Sven Pusswald te...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Cook: Shah Deniz 2 Consortium Looking For Scalability In Pipeline Proposals
...with their offers for pipeline transportation by 1 October 2011. Beyond that we have to take our final investment decision in 2013 and after that we expect to start gas production by 2017. The rights to the Shah Deniz field in Azerbaijan end in 2036. That may look quite far away but actually to...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Billions Of Dollars Pledged To MENA Region After ‘Arab Spring’
...e IMF has a macro-economic approach whereas the EBRD looks at private sector operations. The G8 declaration stated that multilateral development banks could provide over $20bn, including €3.5bn from the EIB, for Egypt and Tunisia for 2011-2013 in support of suitable reform efforts and noted th...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
IEA Sounds Alarm Over $557Bn Energy Subsidy Spend
...at lower subsidies would depress local demand growth, which would make more oil available for export, which in turn means more revenues,” Dr Birol said. Phasing out subsidies in 2011-20, as agreed last year by the G20, would cut primary global energy demand by 5.8% by 2020 and shave 6.5mn b/d off 20...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
OPEC Sees Market Riven With Uncertainties, Output Held Steady In May
...water, in the wake of the oil spill at the BP-operated Macondo well. “The announced drilling ban of 27 May 2010 has changed the picture of the forecast, with expectations of stronger effect on 2011 supply than 2010,” the report said. Washington’s regulatory response to the Macondo spill is se...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
KRG Operators Vying For Position After Oil Exports Start-Up
...ll also feed into the pipeline. Meanwhile, Genel is also building a 60,000 b/d refinery at Koya near Taq Taq and Miran. Some 40,000 b/d of processing capacity will be in place by 2011, with the remaining capacity online in 2012, Heritage said. The $510mn refinery is guaranteed a tolling fee of $15...
Volume: 52Issue: 24Published at Mon, 15 Jun 2009 -
Saudi Arabia’s Diversification Plans Take Shape As Ma'aden Receives Financing
...her operations can domestically access all three components, Mr Fallaj added. More than 70% of the project costs are fixed by a lump-sum turnkey (LSTK) contract, with key contractors provided by Germany, China, France, Spain and Finland. The phosphate project is set for completion in 2011. Target ex...
Volume: 51Issue: 24Published at Mon, 16 Jun 2008 -
BG Focused On Selling Gaza Gas To Israel After Cabinet Approval
...art-up is now envisaged in 2011. The project is expected to generate around $1bn in much needed revenue for the Palestinian Authority. The expected overall costs of implementing the project are still put at around $750mn, a figure that BG came up with more than a year ago. But competition from th...
Volume: 50Issue: 24Published at Mon, 11 Jun 2007 -
Oryx GTL Plant Inaugurated But Clouds Gather Over Industry’s Expansion Plans
...y continue) would raise serious questions over the viability of ExxonMobil’s planned 154,000 b/d GTL project, which is provisionally due for start-up in 2011. Statements of intent between QP and Marathon for a 120,000 b/d plant and with ConocoPhillips for a 160,000 b/d project have already been fr...
Volume: 49Issue: 24Published at Mon, 12 Jun 2006