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KRG/Baghdad Oil Dispute At Crisis Point
...uld make it or break it. Rafiq Latta reports. Baghdad’s ban on investments in the Kurdish upstream managed to deter majors from investing until ExxonMobil defied the federal Ministry of Oil to take six KRG blocks last October (MEES, 21 November 2011). At that time the Kurds and their su...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Egypt Unveils Its 2012-13 Budget Amid Political And Economic Uncertainties
...d a half after the overthrow of the Husni Mubarak regime in January 2011. Egypt has suffered perennially from a number of structural economic problems which are unlikely to be resolved in the short or medium term by the new political system in the country. President Muhammad Mursi, the first de...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Algerian Gas Set For Boost From 3.7 BCM/Y Petroceltic Development
...velopment strategy” and that a second farm-out “has the potential to remove funding uncertainty from the project’s development.” It adds that with 2011’s six-well appraisal drilling program having almost doubled mid ‘gas in place’ estimates to over 10 tcf since the Enel deal was struck, a second sale is li...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Japan’s Crude Imports Lower In June, Supply From Iran Higher
...ports of 3.572mn b/d, but 6.0% higher than for June 2011. The month-on-month decline was attributable to a number of Japanese refineries undergoing seasonal maintenance. As usual, Saudi Arabia was Japan’s largest supplier, contributing 30.5% of imports, followed by UAE (20.1%) and Qatar (10.9%). Imports fr...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Saudi LPG Prices Increased For August Deliveries
...opane Butane Change Propane Butane 2010 1 Jan 740.00 735.00 2011 1 Jan 93...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
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 -
Iran: The Rial Saga
...e rial, has been added to the Islamic Republic’s other thorny and protracted economic woes. After nearly a decade of relative stability in both the official and free market, the rial experienced a precipitous plunge in late December 2011, and subsequently lost nearly half of its value within a short ti...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012