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Shell Finalizes Algerian Shale Deal
...rgeting 4 bcm/y plateau production. Total submitted a development plan in July 2011, which envisaged 2015 start-up, although this has yet to be approved. Algeria says that planned revisions to the country’s hydrocarbon law – expected before the end of the year – will incentivize unconventional exploration (ME...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Construction Of Third Turkmen-Chinese Gas Pipeline To Begin In September
...eratorship and timetable of the project, Chinese state firm CNPC is expected to build, finance and operate the pipeline. Shipments of Turkmen gas began in December 2009, with volumes set to reach 45 bcm/y by the end of 2012, an increase of 45% from 2011. ...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Egypt’s International Reserves Edge Higher, CPI Down
...YPT Egypt’s International Reserves Edge Higher, CPI Down After tumbling markedly in 2011 and the early part of this year, Egypt’s net international reserves started to edge higher in the second quarter, according to Central Bank of Egypt (CBE) data. The most recent data shows this trend co...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Iranian Court Sentences Four To Death In $2.6Bn Fraud Case
...AN Iranian Court Sentences Four To Death In $2.6Bn Fraud Case An Iranian court has sentenced four defendants to death for their involvement in the $2.6bn embezzlement case discovered in September 2011, judiciary spokesman Gholamhossein Mohseni-Ejeihi announced on 30 July. The embezzlement case, co...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Kuwaiti Tanker Fleet Set For Nine-Vessel Expansion In 2014-15
...14, saw the delivery of two more VLCCs in June and October 2011, and two products tankers in February and April 2012. The fourth and last stage of KOTC’s fleet expansion, Mr Khashti said, will take place between 2014 and 2018 and should see the purchase of five additional double-hulled 50...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Qatar Petroleum To Issue $1.28Bn ‘Samurai’ Bond
...sued a $650mn five-year US dollar-denominated Eurobond, although the state of Qatar recently raised $4bn when it priced a sovereign sukuk (MEES, 16 July). Also, Qatari companies such as LNG producer RasGas have tapped international debt markets. QP’s 2006 bond was for $650mn with a maturity date of 30 May 2011...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Saipem Wins $250Mn Contract Amid Regional Drilling Boom
...5 2011 55 12 67 253 39 291 2012 Q1 59 16 75 26...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Yemen’s Aden Refinery Receives First Marib Crude Since October 2011
...men Yemen’s Aden Refinery Receives First Marib Crude Since October 2011 The 150,000 b/d refinery in Yemen’s port city of Aden received its first consignment of Marib crude in around nine months on 28 July, following the restart of operations at the country’s Marib-Ras Issa pipeline last month (ME...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
IFC Approves $250Mn Investment Package For OCI
...ypt and the wider region. EFC aims to increase its production significantly by 2012. IFC invested $1.5bn in the Middle East and North Africa in the 2011 fiscal year. It also helped mobilize funds from other international financial institutions (MEES, 13 June). IFC expects to continue to increase it...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
IRGC General Approved By Majlis As Iran’s New Petroleum Minister
...rd to win over a bureaucracy that is extremely cautious regarding both the IRGC and Khatam al-Anbiya. And domestic issues will not be his only problem: the new oil minister will take over as President of OPEC during Iran’s 12-month tenure, which expires in December 2011; but he is among the Ir...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Jordan Expects To Continue Importing Egyptian Gas, But Is ‘Studying All Options’
...cessary logistical arrangements for the fuel oil, Dr Tuqan noted. The government is also considering the import of LNG via a terminal in 'Aqaba. For this purpose it is soliciting proposals for an LNG regasification terminal at the Red Sea Port from interested firms, and set a deadline for 13 July 2011 as...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Syrian Oil Production Averaged 387,250 B/D In First Half 2011
...Middle East Economic Survey VOL. LIV No 32 8-Aug-2011 syria Syrian Oil Production Averaged 387,250 B/D In First Half 2011 Syria’s crude oil production in the first half of 2011 totaled 70.092mn barrels, or 387,250 b/d, a slight increase from 386,268 b/d in the corresponding pe...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
S&P Revises Tunisia Outlook To Negative, Sees Downside Risks Persisting
...onomic outlook is clouded by uncertainties,” S&P said. This was attributed partly to the fact that the caretaker government does not currently have the mandate to either articulate or implement mid-term policies. The agency noted that its baseline scenario predicts growth of around 1% of GDP in 2011, st...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Nexen Pursues Renewal Of Masila Licenses
...ES. According to a Reuters report, under existing agreements Nexen has the right to produce oil from the Masila field until December 2011. “The company is reportedly negotiating a five-year extension because it still sees significant value in the mature field,” it added. Nexen consortia produce ab...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Nabucco Confirms Final Investment Decision Set For 4Q 2010
...ring the fourth quarter of 2010. Speaking at a press conference in Vienna on 4 August, Werner Auli, the head of OMV’s Oil and Gas division said the FID for the project, which has weathered a number of delays, would either be made in the fourth quarter of 2010 or the first quarter of 2011 “at the la...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Dragon Oil Output Averages 46,420 B/D In 1H 2010
...diterranean. During the first half of 2010, Dragon completed six new development wells, three workovers and one sidetrack. It also awarded a contract for the lease and management of a new Super M2 jack-up rig to be deployed in the fourth quarter of 2011. Also, contracts were awarded for the construction of two ne...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Dana Petroleum Makes New Egypt Oil Discovery
...e PSC, followed by more drilling in 2011. Dana said that the findings confirmed the PSC as a “very attractive” area to develop, with it estimating that the two discoveries have proven initial reserves of 10-12mn barrels of oil with a potential for considerable upside. The firm has submitted a pr...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Beach Energy To Acquire Onshore Egyptian Interest From KEC
...nuary 2011, following approval by Egyptian authorities. The Abu Sennan acreage covers about 1,600 sq km in the Western Desert, and contains numerous oil prospects, four of which have been approved by authorities for drilling. The first 12-month drilling program on the block is set to commence in two mo...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Saudi Aramco-Dow Petchem Project Costs Still Pegged At Over $20Bn
...moving to Jubail,” explained a source with knowledge of the project, noting that the new site can also provide power and port facilities. A number of process units have therefore been dropped from the initial plan, including a cracker, MEES understands. FEED Completion Scheduled For Mid 2011...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
IMF Approves $370Mn Loan To Support Economic Reform
...10 2011 2012 2013 (Change in %) Production and Prices Real GDP at Market Prices 3.2 3.3 3.6 3.9 8 4.1 4.1 4.4 Real Non-Hydrocarbon GDP 4.7 5.3 4.8 4....
Volume: 53Issue: 32Published at Mon, 09 Aug 2010