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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 $33bn on US weapons in 2011, making it the world’s leading importer of US arms. Last year the US also sold missile defence batteries, radars, helicopters and fighter jets to Oman and the UAE. The US Defence Security Cooperation Agency has said it expects to sell more weapons to Qa...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
OPEC Sees Fundamentals Steady Amid Market Turbulence
...EC IEA OPEC IEA OPEC IEA OPEC IEA 2012 2011 2011...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Crude Oil Formulas/Posted Prices ($/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