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Qatar Petroleum Looks To The Future After Board Shake Up
...-well program that was expected to be completed by the end of 2014. Mr Kaabi will also be tasked with addressing rising costs associated with field redevelopment. The estimated costs of redeveloping QP’s offshore Bul Hanine field doubled to $11bn, according to a QP announcement earlier this year. Th...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Egypt $8.4Bn Suez Funds
...scal year which started on 1 July. Mr Dimian says that Egypt’s GDP grew by 3.5% in Q2 2014. He earlier said he expects Egypt to have a $10-11bn financial shortfall for the current financial year (ending June 2015) and said closing this necessitates boosting growth to 6% and creating jobs to slash un...
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 ($112.1bn), while total re...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, July 2014 (‘000 B/D)
...Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, July 2014 (‘000 B/D) Jul-14 vs June 14 vs July 13 Jun-14 Ma...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices 18-Sep 8 - 12 Sep 1 - 5 Sep Aug-14 Jul-14 Q2 2014 Q1 2014 20...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Iraq: Bracing For Another Fall
...rget date due to protests earlier this year around the field. Lukoil is keen to recoup the $2.5bn it has already spent on first phase development and is planning to spend a further $2 billion in 2014. A total of 67 wells will be needed to reach 400,000 b/d and the company is still awaiting approval fr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Shaikan Suspension
...ggest discoveries in the region, began on 24 July GK says. Oil sales averaged 5,100 b/d in August with production rising to 12,000 b/d on September 1. Output will rise to 20,000 b/d once a second production well is completed in October, GK says. It plans to ramp up to 40,000 b/d in 2014 from ei...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Gulf Refiners Ramp Up Capacity
...w 400,000 b/d refineries at Yanbu’ and Jazan, Saudi Aramco is maintaining its 2014 and 2016 start-up targets (see table). Gulf Refineries Scheduled For Start-Up 2013-21 (‘000 B/D) Operator (Project) Location Ca...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
OPWP Launches Qurayyat IWP, Al-Ghubrah Finance Closed
...16 September financial close for the 191,000 cmd Al-Ghubrah IWP, which received Muscat’s approval in December (MEES, 26 July). Cadagua says the plant will cost $306mn and is due for completion in 2014. OPWP’s current seven-year plan (2013-19) predicts water demand in its northern op...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Iraq: A Failed State?
...dicate that part of the violence is also due to a power struggle between Prime Minister Nuri al-Maliki’s Da’wa Party, Sadrist militias and Ammar al-Hakim’s Islamic Supreme Council of Iraq, all pro-Iranian groups maneuvering for the 2014 parliamentary elections. The lack of security and the go...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Syria: US-Russia Deal
...apons and filling munitions must also be destroyed by November. There is to be “complete elimination of all chemical weapons material and equipment in the first half of 2014,” the framework says. On the one side, some EU states have called for Mr Asad’s use of sarin gas in an attack on a Da...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Company Profile: Petroceltic Plots Big League Transformation
...off Stevenson, a veteran of Australian firm BHP’s Ohanet project in Algeria, as Project Director in January. Algiers approved Petroceltic’s development plan in late 2012. The next key project event will be the award of the front end engineering and design (FEED) contracts, anticipated in early 2014...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
IMF Awards Cyprus €85Mn After First Bailout Review
...2013 and 4% in 2014, led by domestic demand and a contraction of financial services and the construction sector (see graph 1). The relaxation of payment restrictions has facilitated transactions, but a higher reliance on cash transactions as people avoid the banking system could “create additional di...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Sudan Delays Ending Fuel Subsidies
...moderation and fiscal performance in the first half of 2013 exceeded budget projects, further action is needed.” Once finalized, the subsidy removal should take effect from January 2014, when its new budget is presented. Gasoline Retail Prices ($/liter, 2012) Turkey (hi...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
ENI Launches Libyan Gas Expansion FEED Prequalification
...r geological and geophysical processing. This would appear to relate to plans to move ahead next year with Phase II Bahr Essalam development as well as its wider Mellitah expansion plans. Eni also plans to produce 10,000 b/d of crude from Ghadames Basin Block NC-118 from late 2014. De...
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 -
Gulf Condensate And Naphtha Exports To Increase
...ia-Pacific needs more petrochemical feedstock. Qatar’s marketing will be the largest single factor in medium term condensate sales, when it reaches full production and export capacity by 2014. “Qatar produces less segregated condensate than Saudi Arabia, but has overtaken Russia and Algeria as th...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Cyprus Government Says Drilling In Block 12 Will Proceed Despite Turkish Objections
...tural gas to the island by pipeline sometime in 2014, either from the Israeli Leviathan gas field or any discovery made in Block 12. The two companies have also proposed that a multi-faceted LNG facility be constructed on the island’s southern coast near the main power generation facility at Vasilikos (ME...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
ESAI Charts Return Of Libyan Crude To Market
...13 or early 2014. “There are some fields which have limited or no damage and should be able to return to production relatively quickly,” ESAI said. “There are other fields with substantial damage, and there are still fields and pipelines that need to be cleared of mines.” Noting that the Na...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Marafiq Awards Doosan $80Mn Contract To Build Desalination Plant
...at completion is scheduled for March 2014. In February the Saudi Saline Water Conversion Corporation (SWCC) awarded a $124mn contract to Doosan to co‐build a similar plant in the Yanbu' region (MEES, 14 February)....
Volume: 54Issue: 38Published at Mon, 19 Sep 2011