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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