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Cyprus: Eni Plans September Drilling, CNOOC Eyes Aphrodite Stake
...th the Energy Ministry. Nicosia is keen to make additional offshore gas discoveries sooner rather than later, with US firm Noble and Israeli partner Delek increasingly veering towards floating LNG as an exploitation option for their 2011, 5 tcf Aphrodite discovery on Cyprus’ Block 12, the only di...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Leads Capacity Expansion But Mideast Runs Slide-BP
...finery, Oman’s 230,000 b/d Duqm refinery and Kuwait’s 615,000 b/d Al-Zour refinery (MEES, 2 May). Middle East Refining Key Numbers (Mn B/D) Middle East Refining Capacity (‘000 B/D) 2009 2011 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Middle East Oil Burn To Rise, Says IEA
...ue.” While the share of gas for power generation increased from 56% in 2001 to 64% in 2010, “oil has been coming back” with its share rising to average 37% for 2011-13. “Despite the region’s continued addiction to oil and gas, renewable sources and nuclear will amount to 6% of total generation by 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Massive Us Growth Balances Mideast Instability, But For How Long?
...eater than forecast in 2012, 2.20mn b/d higher than anticipated in 2011, and 3.21mn b/d above 2010 projections, the IEA says. Us: ‘Huge Investments’ “Huge investments resulted in the US delivering the world’s largest increase in oil production last year” says BP chief economist Christof Rühl, no...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
MENA Oil & Gas: Key Production/Consumption Numbers From BP’s 2014 Statistical Review
...nsumption 2013 vs 2009 Balance 2009 2010 2011 2012 2013 mn...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Yemen Oil Minister Replaced As Fuel Crisis Deepens
...e midst of a days-long blackout that followed, locals set tires and cars alight across the city, in what was in effect, a replay of the 2011 demonstrations that accompanied the Arab Spring. Roadblocks were also set up on a number of the city’s main roads, bringing economic activity to a virtual st...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Iraq Fractures As North Falls To ISIS And Kurds Extend Their Reach
...dress Sunni demands and frustrations and his crackdown on protests that have been ongoing since the departure of US troops in 2011 made Iraq’s Sunni heartland fertile ground for the ISIS advance. Sunni tribes in the western province of al-Anbar have been protesting peacefully since early 2013. They de...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
South Korean Crude Oil Imports, ‘000 B/D
... May-14 Apr-14 Mar-14 YTD 14 YTD 13 ‘14 vs’13 2013 2012 2011 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 106.43 105.32 102.58 101.90 102.02 98.56 97.54 98.03 94...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
KRG Drops Turkish Six-Block Bombshell; Disputed Areas Included
...nguard of the rush north with a six block mega-deal in late 2011. ‘Major Bilateral Energy Deal’ The deals were confirmed the following day by Kurdish Natural Resources Minister, Ashti Hawrami, who also said they were part of a wider Turkish-KRG energy deal, which includes direct KRG-Turkey pi...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Saudi Mega-Projects Take Shape As Sadara Completes Financing
...cember 2014. IPC in June 2012 obtained a SR1.4bn ($373mn) loan from four Saudi banks and in November 2011 a SR600mn ($160mn) loan from Saudi Industrial Development Fund (SIDF). Meanwhile, on 13 June US plastics firm Invista announced an exclusive agreement with Petrochemical Conversion Company (PC...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Qatari Solar Plans: Dark Clouds Gather
...09 and 2011, the sector’s relatively small size would still let Qatar hit its renewable energy target. This would require about 1.5gw of production capacity (MEES, 28 May). Solar plants only take two years to build. Doha wants to conserve its gas reserves in the North Field, which faces complex ch...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Cautious Optimism Reigns Supreme Following Election Of Rohani
...cently as in June 2011 (see graph 2). This decline – which could continue should the Western sanctions machine carry on in its current vein – has forced Iran into storing up to 30mn barrels of its crude oil at sea, according to London-based EA Gibson Shipbrokers, as sanctions prevent Iran from im...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Korea’s KNOC In Line For ADCO Stake Despite Limited Experience
...12. Source: Company Annual Reports, media reports Defense Ties South Korea is also a growing defense partner of the UAE, having sent a contingent of troops to train UAE forces in 2011. South Korean firms have sold drone aircraft to the UAE, which is also in talks to buy South Korean-bu...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Petrofac Wins ADCO Contract
...s processing plant. In addition to allowing increased quantities of crude to be extracted, injecting CO₂ will allow currently-reinjected natural gas to be sent to the grid to ease the emirate’s annual summer gas shortage, which exceeds 2bn cfd (MEES, 2 May 2011). The Petrofac award comes as...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
GCC Measures Against Hizbollah Could Undermine Lebanese Economy
...banese GDP Growth Cut To 2% In its latest Global Economic Prospects the World Bank revised Lebanon’s real GDP growth in 2013 downward to 2% from 2.8% in January. It is now estimating growth at 1.5% in both 2011 and 2012 and is projecting a rise to 2.3% in 2014 and possibly 4.0% in 2015. The World Ba...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Yemen Oil Revenues Take Nosedive
...ainst former president ‘Ali ‘Abd Allah Salih in early 2011. Even though Mr Salih stepped down in February 2012, attacks have continued with the key aims of putting pressure on the Yemeni leadership to distribute handouts and release previously imprisoned tribesmen, analysts say. Yemen’s main ex...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Iraq’s Integrated National Energy Strategy: Investment And Institutional Requirements
...llion as capital expenditures and $90 billion as operating expenses), in 2011 dollars between 2012 and 2030, including all contracted payments to TSC operators. Of this total figure, it is assumed that about 15% will be available from private investments, primarily in refineries and linked in...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 95.14 96.31 94.26 94.75 92.09 94.42 88.25 94.18 95...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
OPEC Rolls Over Output Target Amid Mounting Economic Gloom
...77mn b/d the last 11 months, compared to 8.8mn b/d for the previous 11-month period. OPEC Crude Oil Production May 2011 – May 2012 (MEES Estimates – '000 B/D) 2012 2011 Ma...
Volume: 55Issue: 25Published at Mon, 18 Jun 2012