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A New Deal For South Sudan
...SOUTH SUDAN A New Deal For South Sudan As South Sudan marks the fourth anniversary since the declaration of independence on 9 July 2011, the country remains locked in a civil war that is estimated to have claimed more than 20,000 lives. Oil earnings have collapsed, and a succession of ag...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Kuwait Posts First Deficit In 15 Years
...ending in the new budget is slashed to KD19.2bn, down 9% in nominal terms and 12% in real terms on 2014-15. Meanwhile the country’s crude oil output fell to 2.74mn b/d in June, the lowest since last 2011 (see p8), as a dispute with Saudi Arabia that has shut in fields at the two countries’ shared Ne...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Egypt Squeezes Spending In Bid To Tame Deficit
...) % change vs % chg, real terms vs 2011-12 2012-13 2013-14 2014-15 Budget 2014-15 Projection 14-15 Bu...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Shell Calls Time On Saudi Gas Project
...udi Aramco’s upstream monopoly. Dangerous Times Given the collective political trauma that has descended on the Middle East since 2011’s ‘Arab Spring’ revolutions, domestic security concerns have taken priority over economics and Riyadh has made it clear that it has no intention of raising en...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Iran To Sideline Sinopec At Yadavaran
...arded the $2.5bn contract in March 2011 to develop the field in two phases: Phase-1 targeted 320,000 b/d and 197mn cfd by mid-2014 and Phase-2, 600,000 b/d by 2017. But in February, Iran said CNPC had only drilled seven of the 185 wells it had planned at the field. Current production at South Az...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Turkey Hikes Generation Capacity By 12%, Eyes Coal Expansion
...05 2006 2007 2008 2009 2010 2011 2012 2013 Thermal 23.0 24.1 26...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Abu Dhabi Power Capacity Hits 13.9GW
...07 2008 2009 2010 2011 2012 2013 Power Capacity (GW) 5.53 7.17 7.88 8....
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
OPEC Output Up In June Despite Iraqi Outages
...vised 29.94mn b/d in May (see table). This pushed output above the group’s nominal 30mn b/d target, which has been in place since December 2011. At their latest meeting in Vienna last month, OPEC ministers decided to maintain this target for the remainder of the year. This is despite the fact that th...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Libyan Operators Wait For Output Surge
...ened up the pipeline to the Mellitah terminal; Sharara production is exported from nearby Zawiya. Before the revolution that toppled veteran despot Mu’ammar al-Qadhafi in 2011, Libya was producing 1.6mn b/d. The hasty shut down of fields and pipelines during the fighting led to fears that it would ta...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Saudi Arabia Denies Funding Isis
...ceived new support from Iran in the form of elite al-Quds brigade forces helping to fight the Sunni insurgency. Prince Muqrin bin ‘Abd al-‘Aziz, the former Saudi intelligence chief named recently as the future King of Saudi Arabia to succeed Crown Prince Salman, back in 2011 warned Washington at a me...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Gulfsands Struggling To Regroup More Than Two Years After Losing Syria Assets
...rce majeure at its Syria operations, Gulfsands’ only producing asset, in December 2011. Gulfsands’ working interest from its Syria operations totaled about 8,500 b/d in 2011, down from 10,300 b/d in 2010. In a corporate update issued at the end of June, Gulfsands suggests that it remains ho...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Production Restarts At DNO Yemen Blocks
...en the growing strength of local workers’ unions in Yemen’s oil and gas sector. In the wake of the 2011 Arab Spring, oil workers have increasingly turned to strike action over the last three years to demand better rights for themselves. Among the companies most recently affected by this is No...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
IFC Invests In ACWA Power To Support MENA Renewables
...one of the world’s largest owners and operators of desalination plants, “have attracted the interest of the IFC.” The IFC began working with ACWA in 2011 in Jordan, where it has 51% of generator CEGCO, and is considering investing with ACWA in Morocco’s 160MW Noor-1 solar project, where co...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 102.93 104.61 106.06 105.13 101.90 103.00 98.56 98.03 94...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Blast Shuts Egypt-Jordan Pipeline
...oups. It was not clear who was responsible for the sixteenth attack on the pipeline since the overthrow of Mubarak in January 2011, albeit the first since last July. Sinai Islamist groups have recently targeted the Egyptian army, raising speculation that the attacks were a reaction to the ou...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Iran Condemns Mounting Western Oil Sanctions
...om using oil as a political weapon; so the West should have done the same, he says. “Unfortunately, political interference in the Middle East has brought instability to the region… Since 2011, unilateral sanctions have been placed on Iran by Europe and the US,” the minister said, according to...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
OPEC Sees Fall In 2014 Call on Its Crude
...30.38mn b/d, the producer group said – just 380,000 b/d off the 30mn b/d production ceiling in place since December 2011. OPEC’s figures based on secondary sources, highlighted Libya, Nigeria and Angola as the main culprits behind the drop, accounting for 339,000 b/d of the month-on-mo...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Law Change Hands Power, Oil Revenues To Iraq’s Provinces
...oil deal in the province, around the same time. On 14 June, Tigris announced it had sold out to fellow Swedish explorer Crown Energy. While in March Geneva-based KRG explorer Oryx Petroleum announced it had done an oil deal in December 2011 with Wasit’s provincial government (MEES, 29 March). Oryx fo...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Syrian Politics Shake-Up
...abia in 2011 and is said to have since developed close ties with the Saudi leadership. He is also a prominent advocate for international arms transfers to rebel groups. His Saudi ties may help to facilitate this. Nominally, the SNC is an interim Syrian government. It has garnered significant in...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Oman LNG Posts 10% Revenue Growth For 2012
...oducer revealed in its Annual Report, obtained by MEES in advance of its expected official release later this month. Revenue grew to $4.342bn in 2012, up almost 10% on 2011’s $3.963bn. Net income after tax was also up in 2012, growing by some 9.42% to hit $1.95bn. The rise in revenue wa...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013