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Audit For Libya’s Central Banks
...estions related to the alleged squandering of Libya’s oil revenues since 2011. London-based Deloitte will carry out the audit which will “commence as soon as possible.” ...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Kuwait, Saudi Spat Over Neutral Zone Heats Up
...olation of the bilateral agreement, he adds. He also says that work to cut emissions had begun in 2011 and was due to be completed in 2017. Mr ‘Umair says in the letter that the Kuwaiti side had suggested to the Saudis that production resume at Khafji at a reduced rate of 100,000 b/d, but that the Sa...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Iran Gets The Show On The Road For Contract Launch
...owth has been considerably slower than expected: Crude oil production in Iran is currently running at around 2.8mn b/d, down on 3.6mn b/d in 2011; while gas production growth has only really picked up over the past 12-15 months (MEES, 13 March). And with this roadshow, Iran is hoping to lure some of...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Algeria’s Upstream Challenges In Four Graphs
...emingly written earlier) 2014 report says “the engineering, acquisitions, construction and preparation to have [BMS] operating will be completed in the first half of 2015, and first production is expected around July.” Again, production appears to have not yet begun. Cepsa has since 2011 been owned by Abu Dh...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
New Suez Canal Begins Testing Ahead Of 6 August Grand Opening
...1H14 1H14 2014 2013 2012 2011 Oil Total 8,427 6,934 6,857 22,218 +13...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Syria: Territorial Disintegration Looms As Conflict Enters New Stage
...r deserters and draft dodgers, apparently to boost numbers in his conscription army. According to the anti-regime British-based Syrian Observatory for Human Rights, there are some 70,000 draft dodgers in government controlled areas alone. Since the beginning of the civil war in March 2011, the Sy...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Libya Oil: A Write-Off?
...mar al-Qadhafi in October 2011. Despite the political turmoil, BP made several efforts to pursue the development of its business in Libya, which consists entirely of exploration assets. In 2012, the company dusted off its plans and held two major tenders: the first, for contractors to work on its pl...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Algeria Ducks Decisive Action With Supplementary 2015 Budget
...14 trade surplus of $4.3bn was already the lowest since 1998 and compares to a surplus of over $20bn for 2011 and 2012 (see graph). Forex reserves fell to $159.9bn at end-March 2015, down from $178.9bn at end-December 2014, according to Algerian Customs. In the revised budget, Algeria has lo...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Russians To Invest As Iraqi Crisis Escalates
...s investment last year in six KRG blocks, any West Qurna-1 divestment is clearly linked to worsening Iraqi energy relations (MEES, 21 November 2011). As this year has progressed, the Baghdad/Irbil oil dispute has become less local and more regional, as Arab Spring tensions and Washington’s co...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Sudan Oil Standoff Continues Despite Juba’s Increased Transit Fee Offer
...adline]. It is time for the parties to conclude an agreement,” South Sudan’s Chief Negotiator Pagan Amum told reporters on the sidelines of the talks. Since the South’s secession from Sudan on 9 July 2011, the two civil war foes have been locked in a dispute over a range of issues including the sh...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
BP Wins First Ever Israel LNG Supply Contract
...ssel and from this point, the gas starts to flow from the ship into the pipeline, and from there to the coast of Israel and into the Israel Natural Gas Lines (INGL) national transmission system. In November 2011, INGL awarded Italy’s Micoperi a $140-150mn contract to construct the offshore te...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
BP To Sign Gas Deal With Oman By September
...elds – puts it ahead of those Arab Gulf states that are struggling to do this and face gas shortages due to lack of incentives for upstream developers (MEES, 7 February 2011). Having failed to develop their sour gas fields on time, Abu Dhabi and Kuwait face importing LNG. BP Field Development Pl...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Sadara $20Bn Petrochemical Project Financing Advances
...0,000 b/d Satorp export refinery project. Sized at SR3.749bn ($1bn – MEES, 17 October 2011) it was snapped up by local investors. “That’s good because it means Sadara will not have to reinvent the wheel,” commented one expert. It is possible that the sukuk could be launched before the sponsors reach fi...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Crude Prices Rebound, But Barrels ‘Missing’ From Inventories, Says CGES
...ES Global Supply/Demand Balance (Mn B/D) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 2011 2012 20...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
MOL Expands Kazakhstan Presence
...e Fedorovsky block, made a significant discovery there at the end of 2011 indicating the existence of around 37mn boe, which is primarily gas condensate. KMG EP is Fedorovsky’s operator with a 50% stake. ...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Dragon Sees Oil Production Increase In Turkmenistan
...0,000 b/d gross production level in 2015,” he added. By June this year Dragon had increased production to 64,200 b/d from a level of 58,000 b/d in the first half of 2011. Since the beginning of this year Dragon has completed 12 wells, including two sidetracks, in Turkmenistan’s Dzheitune (Lam) field. Its op...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Egypt’s Sinai Gas Pipeline Bombed For 15th Time
... EGYPT Egypt’s Sinai Gas Pipeline Bombed For 15th Time Egypt’s gas pipeline infrastructure in the Sinai Peninsula was bombed for the 15th time since February 2011 on 22 July. Security officials said a truckload of men pulled up next to the pipeline at a location east of al-'Ar...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Suez Canal Revenue Edges Up, Despite Global Crisis
...YPT Suez Canal Revenue Edges Up, Despite Global Crisis The Suez Canal Authority (SCA) reported on 26 July that revenues rose by 3.6% year-on-year to $5.225bn end of June 2012 compared with $5.043bn end-June 2011. On releasing the results, the SCA commented on the repercussions of the global ec...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Northern Exports Continue Grim Trajectory
....238 75.63 2011 Average 1.711 0.455 2.166 5.444 1.472 6.916 82.988 104.96 Q4 2010 Av...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
NATO Making Gains In Battle Against Somali Piracy
...mali piracy cost the global economy between $6bn and $6.9bn in 2011, with the shipping industry being forced to cover more than 80.5% of this total. Figures released by the IMB earlier this month showed a sharp fall in the number of pirate attacks in the first half of 2012. Overall, in the fi...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012