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Baghdad Threatens Kurds With $3bn Budget Bill
...er The committee is basing discussions on a draft law agreed in February 2007 and favored by the Kurds. But the initiative bears striking similarities to a failed 2011 effort. The powerful Mr Shahristani, who has headed the oil sector since 2006, has defied all attempts to impose any solution that gi...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Gulf Projects To Import Gas Move At Different Speeds
...commit to long-term LNG contracts or if it will buy more spot cargoes after 2015 when it expects demand to start rising. Dubai’s 2011 tariff hike is unusual in the Gulf, where electricity is heavily subsidized. Although most Gulf countries, with the exception of Bahrain, saw little impact from the Ar...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Refinery Restart Offers Hope To Libya’s Sirte Basin Producers
...the plant is moving ahead. Ras Lanuf Restart The 220,000 b/d Ras Lanuf refinery restarted on 31 August for the first time since February 2011. Traders report already seeing export cargoes of fuel oil and naphtha on offer for September. The plant was the site of heavy fighting during 2011, bu...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Iran’s Bushehr At Full Capacity, MENA States Pursue Nuclear Programs
...st October the Bushehr nuclear power plant was connected to the country’s national grid for the first time (MEES, 17 October 2011). The output of the power plant has been gradually increased up to 50% and then 75% of full capacity and tests have been carried out at every stage to check the safety of th...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
OPEC Output Surge Fails To Rein In Prices
...me Japanese buying and a 150,000-200,000 b/d reported rise in Turkish purchases ended Iran’s output rout, although analyst consensus was that the majority of these new exports came from oil in storage rather than new production. OPEC Crude Oil Production August 2011 – August 2012 (MEES Es...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Hopes High For Oil Restart As Sudans Return To Talks
...venues was one of the main issues left unresolved when the South broke away from Sudan in July 2011, taking with it around 75% of Sudan’s historical oil reserves (MEES, 9 July 2011). The two sides had since been locked in a bitter dispute which came to a head in late January, when the South shut down its 35...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Saudi Crude Prices Raised To Asia And US, Cut To Europe
...CI) 2012 2011 Oct Sep Aug Jul Jun May Apr Mar Fe...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Japan’s Crude Imports Rise In July, Iran Supply Cut To Zero
...ude Oil Imports, July 2012 (B/D) Source July 2012 June 2012 July 2011 Middle East 2,853,100 2,718,694 3,...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Tilt To Exports In Israel’s Planned Gas Strategy
...tends to establish a LNG plant with an initial production capacity of 5mn tons/year at Vasilikos, drawing from resources discovered in Cyprus’ Block 12 by Noble Energy in December 2011. The Vasilikos LNG facility concept came from Israel’s Delek Group in January 2011, shortly after the discovery of the Le...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Ankara Eyes Turkmen Gas
...scussions have been ongoing under EC and US supervision since 2008, the pace of the negotiations has picked up since September 2011. But Azerbaijan may be less keen to promote the TCGP option if it sees that this is not gain political leverage in its continuing dispute with Turkmenistan over the Kyapaz/Se...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Dubai 2Q Electricity Demand Up 3.8%, Says DEWA
...rengthen the infrastructure and meet the growing demand of all sectors on electricity and water.” DEWA operates 10 power plants, with a combined generating capacity put at 8.721gw for 2011, up from 7.361gw in 2010. Last year total power consumption was 34.606gwh, compared with 33.742gwh in 2010. In August DE...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
World Bank Welcomes Iran Subsidy Cuts, Foresees Sanction Woes
...creased state savings by $44bn in 2011 and $53.8bn in 2012, according to Iranian 2012-13 budget projections. The government paid out $33bn in direct cash handouts to the lowest and middle income classes last year. And according to the budget’s provision for this year it is expected to pay $40bn in cash re...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Iraqi Hydrocarbon Tensions Ratchet Up
...ditional statement that high oil prices had enabled exports in the first seven months of the year to cover the entire 2011 budget needs, “which indicates that Iraq can achieve a high surplus.” Nevertheless any fall in oil price or let-up in the current intense rates of southern loadings could well br...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kuwait Increases LNG Imports And Fuel Oil Exports
...the first eight months of 2011 compared to the same period last year, and looks set to continue imports into November – a month beyond its contracts with Shell and Vitol to provide cargoes until October. A KPC source says Kuwait’s Committee to study building permanent LNG import facilities ha...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
BP Eyes Expansion Of 1Bn CFD Oman Gas Project
...ird quarter 2011, due to a delay in starting up the EWT and the need to await results from a second horizontal well. BP will submit the field development plan to the government by the end of the first quarter 2012. It will then go to tender for engineering procurement and construction (EPC) co...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
OPEC Output Nudges Up
...oduction August 2010 – August 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Target# Aug Jul Jun May Apr Mar Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Saudi Crude Prices Cut To US, Boosted To Europe And Asia
...r October 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2011...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Aug Jul Jun May Apr Mar Feb Jan De...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 Bahrain Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs Bahrain’s economy saw its real GDP fall by 1.4% in the first three months of 2011 relative to the previous quarter, representing the Gulf state’s fi...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Egypt Focuses On Local Market Funding, Will Sell $20Bn Of Treasury Bills, Bonds
...nfirmed that it has started implementing a E£700 minimum wage for all government workers, and it plans to cover all employees by the end of 2011. ...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011