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230,000 B/D Garraf Joins List of Delayed Iraqi Projects
...late 2011/early 2012, causing a delay of at least two years to the original 2015 phase 1 start-up (MEES, 26 March 2012). Current project manager, CH2M Hill believes it can still make the 5.2mn b/d phase 1 start up by 2017 (MEES, 22 March), but most Iraqi oil investors are skeptical. A high pr...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Wintershall Set To Explore Shuweihat As IOCs Help Abu Dhabi Boost Gas Production
...eathing tanks. Three workers had previously died from hydrogen sulfide at the Shah oil field on the same site (MEES, 4 April 2011). Unlike Shah – which is isolated in a mostly unpopulated quarter of Abu Dhabi’s desert – Bab is near heavily populated areas such as the Habshan gas processing hub. Sh...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
US Mulls Further Tightening Of Iran Sanctions Screw
...porting oil from Iran. Washington in December 2011 passed legislation cutting off access to the US financial system for foreign financial institutions involved in oil trade with Iran, unless their home countries were given a waiver by committing to reduce oil import volumes from Iran. Each im...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Bahrain LNG Import Plans
...unch a tender by the end of 2010 (MEES, 15 March 2010). Bahrain ended up rejecting a 2011 offer by Shell to sell gas to Bahrain at or near oil-price parity. Qatar Gas For Bahrain Qatar, meanwhile, discussed the possibility of building a gas pipeline that would supply Bahrain with Qatari ga...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
GCC Polypropylene Boosted By Conversion Push
...bolstering demand for PP in a region which has long been a net exporter. The GCC PP resin market for local conversion was worth $983mn in 2011, says Frost & Sullivan, but is expected to grow to $1.366bn by 2016. “GCC states’ easy access to PP resin, owing to their large oil and gas re...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
OPEC Producers Adopt Higher Oil Price Assumptions For 2013 Budgets
...ograms put in place by a number of the regional governments, to appease the lingering unrest sparked by the Arab Spring more than two years ago. Higher oil prices too have also played their part, with the OPEC basket climbing to a yearly average of $109.45/B in 2012, relative to $107.46/B for 2011. Pr...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Syria: $12Bn Oil Losses
...ditionally lost S£86.6bn ($878mn) from the damage of infrastructure and equipment, raising total direct losses to S£156bn ($1.58bn). According to the ministry, indirect losses between the March 2011 start of the uprising and end-June 2013 were around S£1,000bn ($10.1bn). This is based on lost re...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Kuwait’s 2013-14 Budget Eyes Surplus
...dget Based On $70/B Oil Price The Kuwait budget is based on a conservative oil price of $70/B, Khalifa Hamad, Ministry of Finance Undersecretary, said on 17 July, when he unveiled the budget details. The new oil price is higher than the $65/B in 2012-13 and $60/B in 2011-12, although even th...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Benchmark crude prices
...12 2011 WTI 105.49 106.64 104.81 95.79 94.75 94.17 94.42 94.18 95...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013