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Egypt Reserves Rebound, Currency Takes Further Pounding
...Egypt’s foreign reserves jumped by $3bn to $19.59bn at the end of September – the highest since June 2015 – according to latest figures from the Central Bank of Egypt (CBE). Egypt’s foreign reserves stood at $36bn before the January 2011 revolution, but the political unrest which followed has gr...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Libya: Peace Elusive After A Year Of UN Talks
...unch military offensives to coincide with UN peace talks. There are similarly militant groups within Libya Dawn that (as at almost any point since 2011) see little incentive to lay down their arms. OIL SECTOR STILL STRUGGLING Politically too, engagement with UN plans for a national unity go...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
LNG Shipping Business Sailing Choppy Waters
...ant Prelude floating project. Ship orders rose significantly in the aftermath of the 2011 Great East Japan Earthquake and Fukushima nuclear accident – only 22 ships (excluding small-scale ships) were on order at the start of 2011. With Japan’s increased need for LNG to fill the gap in power ge...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Despite Record Gasoline Imports, Egypt’s Retail Pumps Run Dry
...14 2014 2013 2012 2011 CRUDE OIL: Production* 692 +4 688 676 68...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Egypt Official Crude & Oil Products Output & Demand (‘000 B/D)
...2Q14 1Q15 4Q14 3Q14 2Q14 2014 2013 2012 2011 CRUDE OIL: Production* 69...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Oil Exporters To Feel Impact Of Lower Prices For Years To Come: Imf
...gher productivity growth.” The unpredictable and volatile nature of commodity prices has been well documented. And the last 15 years has been no exception: The first 10 years of the 2000s saw a gradual increase in commodity prices from record lows in the mid-1990s to record highs by 2011, only to fa...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Egypt Enjoys Unexpected Bid Round Success
...om adapting its prices, Egypt also appears to have overcome the political volatility the aftermath of the Arab Spring in 2011. The protests following the ouster of President Muhammad Mursi and his Muslim Brotherhood government by the army last year were quickly suppressed, and this June’s election of mi...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
New Japan LNG Exchange May Prove Disruptive In Key Qatari Market
...G prices are typically several dollars per mn BTU cheaper (see table). Since the earthquake and resultant tsunami and disaster at the Fukushima Daiichi nuclear plant in 2011, Japan’s role in the global LNG trade has shifted dramatically: Japan was already the largest LNG market prior to the in...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Solar Gets Key Financing Boost, But Much More Needed
...vestment since 2011, committing $590mn to date. Other World Bank investment in the MENA region targets economies hit by the Arab Spring, which need urgent structural reforms to break the vicious circle of slow growth and political instability. Oil importers Egypt, Tunisia, Jordan and Lebanon in particular ha...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Egypt Eyes 2016 Start For 650MW Suez Plant
...censing round suggests the country’s ailing gas sector will soon get a much-needed boost, even if exploration takes off it will take years for this to feed through into significantly higher output (see p2). Egyptian gas output has fallen consistently since the ‘Revolution’ of early 2011, hitting a 9-year lo...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Airstrikes Hit Syria’s Murky Wartime Oil And Gas Sector
...e entry of US-led coalition warplanes into the Syrian melee. In fact, Syria suffered from years of decline in its oil sector even prior to the outbreak of war in 2011, which then reduced oil and gas production to a mere trickle. Declining oil revenues helped put Syria on the path to civil unrest an...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Kuwait Boosts Surplus Despite Falling Revenue
...% 2011-12 REVENUE 31.81 32.00 -0.19 -0.6 18.10 +13.71 +75.8 30...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Is Iran’s Economy Turning The Corner?
...Raghfar added that the key drivers to generate real growth are increased output, improved productivity and higher efficiency in the economy. This growth should also be able to create new employment opportunities. Inflation Falls To 21%, Lowest Since 2011 On the inflation front the news is al...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 91.01 92.26 93.54 93.13 95.95 97.25 103.00 98.03 94...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Egypt Looks To Turn Page On Bureaucratic Delays
...litical upheaval in the country is not causing further delays in the oil sector. The bid round, launched in 2011, was a show of confidence in Egypt’s energy sector that surprised some observers, given the turmoil of the Arab Spring and the parsimonious terms granted to oil and gas producers. The bl...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Syria Output Only 18k B/D
...rms having declared force majeure and pulled out of Syria (MEES, 14 September 2012). The minister attributed the sharp drop in production (from an average of 380,000 b/d before the start of the uprising in March 2011) to damage caused by armed rebels attacks on oilfields, pipelines and other fa...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Changing Global LNG Pricing Dynamics – MEES Analysis
...rticularly the case for Japan itself, which is paying an average of $15/mn BTU for LNG – more than $10/mn BTU over Henry Hub – that it has been importing in higher volumes since 2011’s Fukushima nuclear disaster. All of Japan’s 20 nuclear plants – which typically provide 30% of the country’s electricity – re...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Jubail Specialty Chemicals Boost
...e MMA unit is set to be the largest ever and will incorporate MRC’s proprietary Alpha technology, which uses methanol, ethylene and carbon monoxide as feedstock. At the launch of the joint venture in 2011 to build the plants, a SABIC official described Alpha as a “breakthrough technology.” Me...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Morocco’s ONEE Announces 2013-17 Electricity Plan
...ovision of $100mn to Morocco to support the building of further solar and wind plants in a number of remote areas. ONEE had more than 4.7mn customers at the end of 2012, an increase of 7.4% compared with end-2011. Morocco’s electricity demand was 31.06TWh in 2012, up 8% on 2011. Demand growth av...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Libya: No Light At The End Of The Tunnel
...fore the 2011 revolution was 1.6mn b/d. In an interview with the Beirut-daily al-Hayat, Mr Tariq Mitri, the UN Secretary- General’s Special Representative in Libya, noted that the government has so far failed to disarm the public and rebuild the army and police forces and that it has th...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013