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Crude Prices Break Through $80/B Mark
...velopments across the Middle East – particularly Lebanon – are beginning to gain some additional market attention. Barclays Capital said it had pared its US oil demand forecast to 230,000 b/d in 2010 and 220,000 b/d in 2011. In its Weekly Petroleum Status Report, released on 4 August, the EIA said US co...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
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 -
Growing Oil Power Reshaping Iraq's Future
...aq must allocate 40% of total oil revenues in the years 2011-15 and at least 70% from 2016 on to finance the required physical, social, and environmental projects. ...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010