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Iraq Water Crisis Highlights Baghdad’s Impotence
...outing to keep the dam from sinking and disintegrating—an event that could trigger a tidal wave affecting millions downstream. Iraqi officials consistently downplay the threat, but the dam’s structural integrity was further undermined when IS forces briefly took the dam in 2014. Ross Filkins of the Ne...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Libya Election Timetable To Slip Further Amid Factional Divisions
...rliamentary polls in June 2014 led to the de facto division of Libya between two rival administrations. It is “increasingly doubtful” that elections will be held by end-2018, says Tarek Megerisi, Libya specialist at the European Council on Foreign Relations, after meeting senior officials from several co...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Total Shrugs Off Regional Tensions, Eyes Further Qatar Projects
...17 chg % 2Q16 2012 2013 2014 2015 2016 ME...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
US Firms Scale Back Investment, Claim Output Unaffected
...twithstanding, the lack of major project sanctions will hit firms’ revenue stream early next decade. “It remains to be seen whether [this] strategy… is sustainable given that their finances still largely benefit from cash flow generated by projects sanctioned before 2014,” the IEA says, noting that those firms to...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Libya Looks To Corral IOCs Into Activity Boost
...en shut in for more than two years due to a combination of security concerns, infrastructure damage and a lack of a route to market. The 250,000 b/d Ras Lanuf export terminal on the Sirte basin coast re-opened in September 2016 having stopped exporting in December 2014. The nearby Es Sider terminal, wi...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Oman’s Million Barrel First Half Can’t Prevent Revenue Decline
...lf of 2016 totaled $5.74bn, down from $9.04bn in the same period last year, and from $15.14bn in the first half of 2014 when Omani oil averaged $105/B. Although the average price of DME Oman has slipped by around $2/B in July from June’s $46.62/B, there is typically a lag before this is felt in th...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Sabic & ExxonMobil Evaluating 1.8mn Tons/Year Record Cracker
...tput estimated at 64mn tons in 2014, it is currently facing competition from two large joint ventures involving state-owned petroleum giant Saudi Aramco. The 3.2mn t/y Sadara joint venture between Aramco and US chemicals firm Dow has completed two 375,000 t/y linear low density polyethylene units an...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Petro Rabigh Cracker Outage
...bigh threatened to terminate Rawec’s supply agreement. However, the dispute was resolved after Rawec paid Petro Rabigh SR750mn ($200mn) in compensation, along with a SR188mn ($50mn) reduction in tariffs and a SR188mn investment in improving the reliability of its supply systems (MEES, 6 June 2014). ...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
UAE Completes Nuclear Reactor Vessel
...ec says that overall construction of the four plants is more than 65% complete. Reactor vessels for the Barakah-1 and Barakah-2 reactor were completed in 2014 and 2015, respectively. Enec recently completed structural integrity and leak rate tests on the Barakah-1 reactor containment building. Al...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Opec Winning Back Market Share in Key Asian Markets
...16. However, while the importance of the Asian market for Opec has been growing, Opec’s importance to the region has been falling. IGA and Opec data shows that in 2011, 65.5% of Asia’s oil imports came from Opec, but this fell to 61.2% in 2014 and just 60.1% last year. But Opec’s Saudi-driven strategy to...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Dubai In Unwelcome Headwinds
...ported this week that property prices in Dubai have fallen by around 25% since their most recent peak in 2014, but remain above their 2011 trough. However, the IMF reports that the quality of the real estate loan portfolio is significantly better than prior to the 2009 crash. Overall, Dubai, in...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Oilfield Services Firms Forecast Upturn As Industry Looks To Overcome Crisis
...low levels (MEES, 8 July). Middle East resilience – and deep pockets – has seen the region’s share of each company’s revenue grow since the third quarter of 2014. Schlumberger’s Middle East share of revenue has risen to 33.6% in Q2 16 compared to 23.5% in Q3 14, while Halliburton’s has risen to...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016 -
Korea Cuts Buying Of Gulf LNG Despite Price Collapse
...th 2014. Outside of the MENA countries, Indonesia (No 3 overall) and Malaysia (No 4 ) are Korea’s key LNG suppliers (see table, p5). YEMEN LNG OUT Yemen was Korea’s fifth largest supplier for 2014 – and conversely Korean state firm Kogas the biggest customer of Total-led Yemen LNG. But first ha...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Another Summer Of Discontent For Iraq’s Basra Amid Power Shortages
...tput was flared, up from 67% a year earlier. With gross production rising, the absolute volumes of flared gas have risen further: up by 69mn cfd or 5.5% versus January-May 2014, and almost double 2010 levels (see table). Exacerbating the impact on the population of southern Iraq is that alternate fu...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
In Search Of Iran’s Market Share
...like Saudi Arabia, Iraq has a friendly, some would say subservient, relationship with Tehran. But such friendship has not always extended to the oil marketing sphere - particularly as Iraq ramps up exports. Iraq shipped a record 3.5mn b/d of crude in June, up 1mn b/d on 2014 volumes, and has plans to...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
UAE Links Fuel Prices To Global Markets From 1 August
.../B ($0.49/liter) for 95 ron unleaded gasoline, and $70/B ($0.44/liter) for diesel. However, pump prices were also at similar levels a year ago, when, of course, international market prices were far higher. To give an indication of potential savings MEES has crunched the numbers for 2014, when UAE co...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Lebanese Economy Needs Electric Shock Therapy – IMF
...fugees from war-torn Syria continues to dominate Lebanon’s short-term economic outlook, the International Monetary Fund (IMF) says “electricity reform is an urgent priority” for the Beirut government to kick-start its economy. The Lebanese presidency has lain vacant since May 2014, while a lack of co...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Sadara Inks $3.8bn Power Deal
...ter plus wastewater treatment to be supplied by local utility Marafiq under a SR70mn ($18.7mn) deal (MEES, 21 November 2014). Though Sadara says its feedstock prices will be “subject to the same market forces [as those of] Sadara’s products,” in reality, prices are low and heavily subsidized with th...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Saudi Refining Runs And Product Exports Hit Record Levels
...OPEC Saudi Refining Runs And Product Exports Hit Record Levels > Saudi refineries’ CDU capacity has in theory been 2.9mn b/d since September 2014 when the 400,000 b/d Yasref plant in Yanbu’ on the Red Sea coast started up. The similar-sized Satorp plant in Jubail began operations a ye...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Nuclear Deal Breathes New Life In To Iran-Pakistan Gas Pipeline Project
...pefully, as the sanctions are removed, it facilitates us to address our energy needs, and also meet the contractual obligation,” the minister said. Under the terms of the latest deal signed between the two countries in 2009, 750mn cfd of Iranian gas was to begin flowing to Pakistan by 31 December 2014, wi...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015