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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 -
Turkey Plans To Reduce Natural Gas Use For Power Generation
...untry’s intention to cut consumption of natural gas, which amounted to some 40 bcm in 2011 (MEES, 13 February). Natural gas typically supplies around 53% of Turkey’s power generation needs and it intends to reduce this to 30% by 2023. He said that high output from the country’s hydroelectric plants this ye...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Mubadala Restructures Energy Assets, Develops Thai Oil Field
...eld output in Tatweer joint venture with Occidental. 2010 Mubadala Oil & Gas Signs memorandum of understanding with Yemen Company for investing and cooperating in oil and gas exploration and production. October 2011...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
KMG EP Warns Strikes May Force Drop In 2011 Production
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN KMG EP Warns Strikes May Force Drop In 2011 Production KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of KMG, announced on 27 July that continuing strikes by oil workers at the Uz...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
BG Chairman Says KPO Dispute to Be Resolved by 2011
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN BG Chairman Says KPO Dispute to Be Resolved by 2011 BG Group Chairman Frank Chapman on 26 July said he expects to see BG’s one and a half year dispute with KazMunaiGaz over its participation in Karachaganak Pe...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
SOCAR To Discuss Oil Exports To Slovakia And Czech Republic
...r west as Poland, Germany and Central Europe to include Slovakia, the Czech Republic and Hungary. In April 2011 Sarmatia’s CEO, Sergiy Skrypka, announced that an extension of the Odessa-Brody pipeline to the Polish pipeline system in Adamowo could cost around €577mn of which €125mn would come from th...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Vasilikos Repairs Could Reach €2Bn, EU Experts Say
...tages caused by the destruction of the plant, the ratings agency reduced its forecasts for Cyprus economic growth to 0% in 2011 and 1% in 2012....
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
South Pars to Reach 285Mn CMD By March 2012
...the project’s development within the first half of 2011. NIOC’s warning followed CNPC’s decision to inform NIOC that it “has been facing financial problems to provide the $5bn required investment for the project (MEES, 27 June)....
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Hess, Petroceltic Swoop To Take KRG Blocks
...8.75mn covers the Bardarash purchase, of which $63mn cover back costs. Afren bought the 20% KRG stake in Ain Sifni for $169.5mn and it “is inclusive of approximately $18mn of back costs and $14mn of 2011 capital expenditure.” Ain Sifni lies in territory in Nineveh province, controlled by Kurdish Pe...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Baghdad Eyes Bumper 2011 Oil Revenues
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 IRAQ Baghdad Eyes Bumper 2011 Oil Revenues Buoyant oil prices and rising crude exports from both South and North look set to deliver a much needed shot in the arm for Iraq’s economy. Revenues for the first half of th...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Kuwait’s Economy Recovers, But Further Reforms Needed, Says IMF
...still subject to both internal and external risks. Consequently, IMF directors stressed as part of their 2011 Article IV consultation the need for further institutional, fiscal and financial reforms. “Real GDP growth in 2010 is estimated at 3.3%, comprising oil growth of 3.2% and non-oil gr...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
UN Envoy Urges Lebanon, Israel To Move Ahead With Offshore Exploration
...rhaps enable them to move forward on other issues.” Meanwhile, the US stated that it will not become involved in the dispute, according to Abu Dhabi’s The National. “The US notes that Lebanon in October 2010 and Israel in July 2011 have submitted to the UN claims to their adjacent exclusive economic zo...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 syria Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011 The Syrian government has spent a total of S£117bn ($2.5mn) on subsidizing petroleum products in the first half of the year, the managing director of...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Petroceltic Contracts Dalma For Drilling On Isarene
...troceltic said that data from the results of the earlier drilling campaign suggests that Ain Tsila may be a “world class hydrocarbon resource.” The company plans to present a development plan to the Algerian authorities at the end of the appraisal program, in the first half of 2011. In March, the company ra...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Cyprus To Get Third Wind Farm
...e other also in the Larnaca district. The project is scheduled to be complete by the third quarter of 2011 and its expected advantages include the reduction of 23,220 tons of carbon dioxide relative to the amount of diesel fuel needed to generate the same amount of energy. The Cyprus Ministry of Co...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010