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Bahrain Plans Advance
...at it expects to complete the FEED work by the end of next year. Yet, this is not the first FEED to be conducted for the refinery expansion. In 2011, Chevron Lummus Global completed a FEED study at the refinery when plans called for an expansion to 450,000 b/d. However, Bapco and the country’s Na...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Tehran Seeks Increased Power Productivity
...red], Bandar Abbas [1.28GW oil] and Shahid Montazeri [1.6GW oil] power plants.” Tehran and Moscow have been talking for some time about Russia’s Rosatom building two new 1GW nuclear power plants alongside the plant at Bushehr that is completed in 2011....
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
OPEC To Bring Down The Ceiling?
...nth total production held above the mutually-agreed 30mn b/d nominal output target, in place since December 2011. “No, I don’t think so,” Mr Badri said, on being asked if he felt the 30mn b/d production target would still be appropriate next year. “I think our production will be maybe 29.5[mn b/d] in...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Syrian Economy Permanently Degraded
...aces block-to-block, along lines foreign to Syrians as recently as 2011. The extremists of the Islamic State control large swathes of territory in the east of the country. Kurdish militias have carved out enclaves for their constituents. The regime controls the capital, the coast, and several of the ke...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Algeria Maintains High Defense Spending In 2015
....3bn) is up 9.6% on the 2014 budget in nominal terms, following a higher increase still of 15.7% over 2013. The budget allocations for defense spending surged in 2011 by 49.5% over 2010. Total expenditure in the draft bill is projected to increase by 15.7% to AD8,858bn ($112.1bn), while total re...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, July 2014 (‘000 B/D)
...y-14 YTD14 vsYTD13 vsYTD12 2013 2012 2011 2010 2009 Crude Production 10,005 +22...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 93.07 92.44 94.38 95.95 102.36 103.00 98.56 98...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Kuwait’s Oil & Gas Transformation: Is Strong Leadership Enough?
...ell. Dampening hopes of attracting IOCs is a Kuwaiti public prosecutor investigation into Shell’s $800mn consultancy deal with KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011). Burgan Progress Kuwait continues to make good progress in extending the plateau of its Gr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya: Light At End Of Tunnel As Losses Hit $7.5bn
...nghazi, headquarters of Agoco, NOC’s biggest subsidiary. Agoco operates eight eastern fields and the export terminals of Hariga near Tobruk. The NOC chairman played down fears that the shut-ins could have had a similar effect on the production infrastructure as outages during the 2011 re...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Turkey Turns To Iraq To Replace Iranian Barrels
...der 105,000 b/d for May-July. Turkish crude imports from Iran averaged 112,000 b/d in the first seven months of the year, down around 25% and 40% on 2012 and 2011 figures respectively. Waiver Review Coming Up Turkey is one of nine countries still importing Iranian crude that in Ju...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Company Profile: Petroceltic Plots Big League Transformation
...ave the firm with around 38%; it will remain as operator), Italian power firm Enel bought 18.375% from Petroceltic in 2011, whilst state firm Sonatrach has 25%. With the aim of beefing up its ‘Ain Tsila team’ Petroceltic on 16 September appointed Ian Craig to chair Petroceltic’s Ain Tsila pr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Citadel Seeks More Capital
...ctor for managing to hold funding for the project together in the wake of Egypt’s 2011 Revolution as other investors pulled out (MEES, 6 February, 2012). In addition, the company’s key planned new investment is in Egyptian LNG import and re-gasification. But its bid to hire floating storage an...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Sudan Delays Ending Fuel Subsidies
...er implementation of the controversial policy. Sudan’s economy is still reeling from the significant drop in state revenues associated with the loss of around 75% of its former 450,000 b/d crude oil production when South Sudan seceded in July 2011 (MEES, 11 July). Oil income was – and still is...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Benchmark Crude Prices
...12 2011 WTI 106.39 108.26 108.29 106.55 104.47 94.17 94.42 94.18 95...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Security Crisis Roils New Libyan Administration
...one thrive, argues a Libyan businessman. “Really we need to sort out this issue. It is really crippling the country,” he says. The recovery in Libya’s oil industry following last year’s civil war has been impressive (MEES, 26 December 2011). But a lack of security has become an ev...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Jordan Resumes Iraqi Oil Imports
...ude to Jordan. Jordan receives this crude under an agreement reached in June 2011 to import up to 15,000 b/d at preferential prices. This represented an increase of 5,000 b/d from the previous agreement between the two countries of September 2008 for the import of around 10,000 b/d of Iraqi cr...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Syria 'Illegally Producing' from INA's 22,000 boe/d Hayan Field
...e Hayan Petroleum Company (HPC) 50:50 joint venture with Syria’s state owned General Petroleum Corporation. MOL owns 47% of INA. Current Hayan production volumes are unclear. Production averaged 20,300 barrels a day of oil equivalent (boe/d) for 2011 but output had been in the process of...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
New Yemen Oil Minister Faces Security Challenge
...men has been in turmoil since last year’s uprising which ended with the stepping down of the former president in November 2011. Repairs At Yemen’s Marib Pipeline Complete, Oil Resumes Flow Crude oil has meanwhile began to flow through Yemen’s main crude export pipeline fo...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Gulf Tension Spurs Oil Defenses, UAE Struggles With Hormuz Pipeline
...traordinary.” The kingdom spent $33bn on US weapons in 2011, making it the world’s leading importer of US arms. Last year the US also sold missile defence batteries, radars, helicopters and fighter jets to Oman and the UAE. The US Defence Security Cooperation Agency has said it expects to sell more weapons to Qa...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
OPEC Sees Fundamentals Steady Amid Market Turbulence
...EC IEA OPEC IEA OPEC IEA OPEC IEA 2012 2011 2011...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012