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Iran Targets Further Trade Gains in Asia With Korea Payments Deal
...43mn b/d, up 28% on the same period last year. The upshot is that the region’s importing of Iranian oil this year is on track to reach levels not achieved since sanctions were ratcheted up in late 2011. China’s receipt of Iranian crude dipped in July, dragging the total amount down from June’s heights to...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Libya’s Wealth Fund In Leadership Showdown
...rsue legal cases on behalf of the LIA, but no power to transfer or dispose of LIA assets. In practice this is academic as the funds are largely frozen under UN sanctions imposed in 2011. According to a 2012 audit by Deloitte, the LIA has holdings estimated at $67bn. The establishment of the st...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Egypt Plans VAT At 13% From 1 October
...nishment through higher fines and prison sentences. Egypt’s economy has been struggling since the 2011 revolution which brought with it political instability, driving away tourists and foreign investors, who provide a major source for foreign exchange. Egypt’s foreign currency reserves are down by more th...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
The Only Way Is Down For Algeria’s Trade Balance
...cord surpluses of over $20bn for 2011 and 2012 (see table). And MEES analysis suggests that the situation is going to get worse with the country on course to rack up a $20bn deficit for the year as a whole. The collapse of Algeria’s trade balance is inevitable given the slump in global oil pr...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Saudi Shrugs Off Calls For Action Over Oil Price, Revenue Collapse
...rn Libya (down 88% from 2012), Algeria has seen its revenue halve since last year. Takings are down 60% from their 2011 peak, with volumes as well as prices on the slide (see p6). This points to another way in which these MEES back-of-the-envelope calculations could underestimate the slide in co...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Iran Mulls Offering South Pars To IOCs As Opening Delayed
...ll behind schedule, whilst oil production and exports are now running at just two-thirds, and one half of 2011 levels respectively. But, as Iran continues its diplomatic push towards an agreement with the P5+1 (the five permanent members of the UN Security Council – the US, UK, France, China and Ru...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Israel Refineries Hit Throughput Record, Diesel Exports Boom
...14 1H13 ‘000 b/d ***% 2013 2012 ‘000 b/d ***% 2011 2010 2009 20...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
GTL Back On The Radar For Mideast Downstream Planners
...2006 Qatar Shell/QP Pearl GTL, Ras Laffan 140 2011 Pr...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Saudi Aramco To Invest $40bn Annually
...0bn barrels to existing resources. Saudi Arabia has 260bn barrels of recoverable reserves, a number that has remained constant even as output has risen steadily over the past decade to exceed an annual average above 9mn b/d since 2011. In addition to improved reservoir management, Aramco is lo...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
IDB Loans Egypt $425mn
...ruggling to revive its sagging economy, following the decline in growth since the overthrow of former president Husni Mubarak in early 2011. Egypt is seen by Gulf countries as key to stability throughout the Arab and Muslim world; stability which needs to be reinforced at a time of major political up...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Indonesia’s Medco Returns To Tunisia As N American Firms Pull Back From MENA
...7.7mn sold Medco its Storm Ventures International subsidiary that holds the rights to the blocks. The deal once again gives Medco a foothold in Tunisia after it had relinquished its blocks in the country in 2011. Unlike other North African countries such as Libya and Algeria, Tunisia is not a major oi...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, 1h 2014 (‘000 B/D)
...13 2012 2011 2010 2009 Crude Production 9780 +75 +138 9705 9660 97...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 94.55 94.39 97.19 102.36 105.13 103.00 98.56 98...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Libyan Oil Output In Freefall As Chaos Spreads
...the Sharara and Elephant oil fields and choking off oil exports. National Oil Corporation (NOC) Chairman Nuri Berruien tells MEES that oil output for the first four weeks of August averaged just 630,000 b/d, the lowest since November 2011 – the immediate aftermath of the capture of Sirte an...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Iraq Shake-Up: CNPC Enters West Qurna-1; Shell Slammed Over Majnoon
...nce 2011, when it was given an ultimatum to choose between its upstream deals with the semi-autonomous Kurdistan Regional Government (KRG) investment in federal Iraq. The deal with CNPC suggests that Baghdad has relented and is willing to allow ExxonMobil to carry on at West Qurna-1, rather than ri...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Iran Gas Supply Deal Back On For Gas-Hungry Oman
...rrently imports around 2bcm of natural gas from Qatar per year via the Dolphin pipeline; with no prospect of more given Qatar’s reluctant to end its current moratorium on further gas field development. Breakdown Over Price Iran and Oman came very close to reaching a gas agreement in 2011, ME...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Cyprus Completes Vasilikos Rebuild After 2011 Blast
...CYPRUS Cyprus Completes Vasilikos Rebuild After 2011 Blast The Electricity Authority of Cyprus (EAC) has completed repairs to the Vasilikos power station two years after it was badly damaged by a blast at an adjacent military site. An explosion of munitions stored at the Ma...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Japan Ups Imports Of Iranian Crude Ahead of US Waiver Review
...nths to appease the US, and better its chances next month of gaining a further extension of a previous waiver granted to it by Washington earlier this year. Washington in December 2011 passed a law cutting off access to the US financial system for foreign financial institutions involved in oi...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
MEES Profile: Qatar’s Overseas Investment Strategy
...vestment In parallel with, but apart from, QP’s overseas purchases, QIA had been buying energy assets, starting in 2011 – with stakes in European utility firms Energias de Portugal and Spanish electricity supplier Iberdrola. In 2012, it bought 3% stakes in Total and Shell and remains in talks to boost its Sh...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Iran’s New CBI Governor Starts With Tackling Inflation
...th the Mehr Housing Project, started by former president Ahmadinejad. According to Economic Trends of the CBI, liquidity in the Iranian year 1390 (March 2011-March 2012) grew by 19.4% and in the first quarter of 1391 (March-June 2012) by 5.5%. Mr Tayyib Nia also noted that bu...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013