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Crude Oil Formulas/Posted Prices ($/B)
...L PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Oct Se...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Iran Claims Gas Transit Agreement with Turkey and Turkmenistan
...lmaz, who represented the NATO-member country in the recent Non-Aligned Movement summit in Tehran, discussed increasing Iranian gas exports to Turkey. They have been in an uptrend and in 2011 climbed to 8.4 bcm from an estimated 7.7 bcm the previous year. Eventually the gas could transit the extension of...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Saudi Aramco Preparing For Riyadh Refinery Clean Fuels Upgrade
...eeler SOFCON consortium was awarded a contract for the FEED and project management services in July 2011. It comprises a subsidiary of Foster Wheeler’s Engineering and Construction Group and A Al-Saihati, A Fattani & O Al-Othman Consulting Engineering Company (SOFCON). Project Scope Fo...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Syria’s PEEGT Extends Deadlines For Power Plant Tenders
...gust 2011. The deadline for Zara bidding has been put back from early July to 10 December and for the Traifawi plant the deadline has been changed from late August to end-September. According to the Syria Report of 4 September: “Although PEEGT did not provide explanations, the extensions ar...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
MOL Looks To KRG And Oman To Fuel Output Growth
...L enjoys “excellent cooperation” with the authorities, Mr Tatai says. This cooperation is no doubt smoothed by the fact that the Oman Oil Company acquired 7% of MOL in 2008 within the framework of a strategic partnership between the two companies. Fifty percent of MOL’s $3bn 2011 ea...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Vegas Starts Egypt Production
...eady” at around nine months. But the fact that the company has rapidly ramped up production means the sum outstanding has continued to mount, hitting a whopping $214mn by the end of June, MEES understands. TransGlobe has collected $135mn from EGPC since January 2011, including $57m for the fi...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Opposition Sees Imminent Collapse Of Syrian Economy
...serves at the start of the political turmoil in March 2011, according to officials and other analysts (MEES, 25 July 2011). Dr Qadi also noted that “the Syrian regime had obstructed the mechanisms of supply and demand before the revolution through monopoly, corruption, and the absence of an...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Oil Price Slumps And OPEC’s Impossible Dilemma
...an idea that only four or five years ago would have been regarded as lunatic. The in-joke last year among oil market watchers was that North Dakota would be the next member of OPEC. In 2011, North Dakota produced more oil than OPEC’s Ecuador! Thus the dilemma is simple. OPEC co...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Bankers Shrug Off Downturn To Finance Qatar’s $10Bn Barzan Gas/NGL Project
...w pricing Saudi’s Satorp secured last year. Barzan will boost the country’s already climbing NGL output – which will include 500,000 b/d of condensate and 10.7mn tons/year of LPG by the end of 2011. It will start up in 2014 and ramp up to 100,000 b/d of condensate. The $7.2bn debt financing fo...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
KRG Crude Exports Interrupted As Irbil/Baghdad Tensions Rise
...provide 100,000 b/d to the federal treasury – a contribution needed for the 2011 budget. In return, the KRG would receive around half the revenues to pay oil investors their costs. KRG crude exports rose sharply, hitting 175,000 b/d in June before declining in both July and August (MEES, 12 Se...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Gulf Condensate And Naphtha Exports To Increase
...ndensate and naphtha exports – despite Iran’s gas projects almost grinding to a halt – according to a report by Asia Pacific Energy Consulting (APEC). APEC’s report, Condensate East of Suez 2011 – NGL Impacts on the Light-End Balances, also says Gulf condensate prices are increasingly being de...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Crude Prices Strengthen With Plan To Bolster Eurozone
...id member countries would exercise flexibility in re-establishing their emergency stock levels through 2011-12. The action required none of the members to go below the 90-day stockholding requirements, the IEA statement said. In its Weekly Petroleum Status Report, released on 14 September, the En...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
OPEC Calls For Vigilance Amid Lower Demand Growth
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 OPEC Calls For Vigilance Amid Lower Demand Growth OPEC made its fourth successive monthly cut to its projections for 2011 demand growth, the group’s latest Monthly Oil Market Report (MOMR) shows. None of the downgrades have be...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
IEA Reduces Demand Growth Forecast, Citing ‘Negative Economic Developments’
...ris-based agency, in the latest issue of its monthly Oil Market Report (OMR), released on 13 September, revised global oil demand for 2011 down by 0.2mn b/d and for 2012 down by 0.4mn b/d. “Amid recent negative economic developments, this report has lowered global real GDP growth assumptions for 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
EIA Forecasts Reduction In Demand Growth On Less Optimistic Economic Outlook
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 EIA Forecasts Reduction In Demand Growth On Less Optimistic Economic Outlook The Energy Information Administration (EIA) of the US Department of Energy has projected a decline in crude oil demand growth during 2011-12 in its la...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Global LNG Trade Rose By 21% In 2010, Says FACTS
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 Global LNG Trade Rose By 21% In 2010, Says FACTS Global LNG trade rose to 220mn tons during 2010 and looks set to expand further during the 2011-12 period, FACTS Global Energy said in its 13 September Energy Briefs report. Th...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
China’s Crude Oil Imports Rise During August
...19.43mn tons and 0.7% above the August 2010 import total of 20.90mn tons. During the January-August 2011 period, China has imported a total of 166.32mn tons of crude oil. Total imports during 2010 amounted to 239.31mn tons (4.79mn b/d). China Crude Oil Imports 2010-11 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Crude Oil Formulas/Posted Prices ($/B)
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Algeria’s Forex Reserves Rise To $174Bn By End-June 2011
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 ALGERIA Algeria’s Forex Reserves Rise To $174Bn By End-June 2011 Algeria’s foreign exchange reserves rose to $174bn at the end of June, an increase of $11bn from the figure at the end of 2011, the Governor of the Central Ba...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Total Announces Major Gas Find On Absheron Block
...nuary 2011, are still “too preliminary” to provide an accurate picture of the field’s prospective reserves, a petroleum geologist familiar with the region told MEES that the “topography of the initial results augurs well for the existence of more extensive finds along the northern extension of the fi...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011