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Kurds Defy Baghdad To Initiate Independent Oil Exports
...st year. The BP-led Rumaila project was to have hit 1.55mn b/d by end-2012, but is now targeting 1.45m b/d, one source says (MEES, 12 December 2011), while Shell-led Majnoon was to have hit first phase 175,000 b/d by year-end, but is now targeting mechanical completion by then. ExxonMobil’s West Qu...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Libya Enters Democratic Era With Oil Export Disruptions
...BYA Libya Enters Democratic Era With Oil Export Disruptions The broad-based National Forces Alliance (NFA), led by Muhammad Jibril, a key figure in 2011’s post-Qadhafi National Transitional Council, looks set to emerge as the clear winner of Libya’s 7 July elections. But anyone expecting the el...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Investors Flock To $4bn Qatar Sukuk
...tegrated petrochemical project in Jubail. The kingdom’s first bond was issued in 4Q11 by Saudi Aramco and Total for their 400,000 b/d Satorp export refinery project and sized at SR3.749bn ($1bn – MEES, 17 October 2011). Arrangers have already been appointed for the Sadara sukuk, but with Ramadan due to st...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Sudan Awards New Exploration Deals
...oke away in July last year (MEES, 11 July 2011) leaving the oil-dependent economy desperate for revenues and facing an estimated budget deficit of around $2.4bn, which day-by-day is getting worse. And yet with the economy already under severe strain from years of US sanctions, a weakening currency and do...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
OPEC Projects Tough 2013
...th structural and likely to persist beyond next year. Even should the economy rebound, China, the main source of new demand growth of the last decade, is likely to continue energy efficiency efforts. These are already starting to reap benefits – 2011 Chinese oil demand growth stood at over 5%, while th...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Komlev Outlines Gazprom Export Strategy
...e progress of Nord Stream and South Stream. Q: How can you say that these elements inhibited the progress of Nord Stream when Nord Stream has been in operation – as scheduled – since November 2011? Moreover, what is the connection with South Stream? A: I am sorry but this is not th...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
New US Sanctions Hit Iran, Upstream Sector Already Stressed
...force a cutback in Iranian exports of around 1mn b/d from the summer onwards compared with 2011 levels. It estimates output to be near 22‐year lows at 3.2mn b/d for June. OPEC’s tally of secondary sources puts this figure at 2.963mn b/d (see page 9) and MEES estimates it at 3.12mn b/d (MEES, 9 Ju...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Iraqi Gas And Power Emerges As Critical Sector
...pital investment to kick-start the economy. Capital expenditure will grow to 40% of the budget in 2014 and 50% the following year, compared to 2011’s 31%, Mr Abadi predicts. However, any economic development will not work without electricity, the lack of which currently costs the Iraqi economy an es...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iran At A Crossroads As It Faces Political And Economic Challenges
...wns. A consumer in north Tehran reckons that prices have doubled in his supermarket between December 2010 (when the subsidy reform bill was launched) and June 2011. The price of bread has recently gone up by 25% after rising four times earlier in the year, and the price of some products, such as ve...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iraq Needs To Triple Power Capacity To Meet Short Term Demand Growth
...coming increasingly dependent on private sector power generation. The country’s supply averaged 6.403gw in the first quarter of 2011, according to the US’ Special Inspector General for Iraq Reconstruction (SIGIR). Capacity had steadily climbed from the beginning of 2008 through September 2009. Fr...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Global LNG Market Shows Unexpected Resilience As Qatar Restarts Plants
...the first quarter of 2011. The shutdowns and idling carriers also stoked concerns that Qatar might be deliberately holding back supply – some traders thought the carriers may be full, as Qatar stored LNG waiting for winter demand in the northern hemisphere to drive up prices. Others thought Doha ma...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Saudi Aramco Moves Ahead On Yanbu΄ Downstream Project With ConocoPhillips
...trochemicals and it will also use existing port facilities. Both Yanbu' and Jubail will be full conversion refineries and be configured to run mainly heavy, higher sulfur crude from the 900,000 b/d Manifa increment, due on-stream starting in 2011. EPC Bidding Schedule Prospective bidders for the four ma...
Volume: 51Issue: 29Published at Mon, 21 Jul 2008 -
TAP Pipeline Key For European Alternatives To Russian Gas Supplies
...lmy-Rey participated in the televised signing of a major gas export agreement in Tehran (MEES, 24 March). The preliminary agreement envisages the beginning of Iranian gas exports to Switzerland by late 2009 at a level of 1.5 bcm/year, rising to 2-4 bcm/y in 2010 and 2011 and reaching a maximum rate 5....
Volume: 51Issue: 29Published at Mon, 21 Jul 2008 -
Algeria Scales Back Oil Output Targets Amid Renewed Gas Emphasis
...due for completion in September 2011, around two years later than originally planned. Escalating costs had prevented progress on the Skikda project, with negotiations for the final EPC contract being drawn out over more than two years. As further evidence of the importance Algeria attaches to...
Volume: 50Issue: 29Published at Mon, 16 Jul 2007