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Egypt Awards Four Offshore Gas Blocks Following August 30tcf Discovery
...ypt, accounting for roughly one third of Egypt’s 4.24bn cfd of gas output. But output has been on the decline, falling to just 1.53mn cfd last year, with output from the BP/Eni fields down by a total of 524mn cfd since 2011. Of the four producing Eni/BP offshore Nile Delta concessions, only North Po...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Iran Faces $40Bn Petchems Project Backlog, Uncertain Gas Supplies
...e crackers and polymers plants are around 60% built and intended to be brought onstream by the end of 2015. All the projects could be completed in four years’ time, she says, if the “needed timely investment” is made. NPC’s 2011 Annual Report – only recently published – says NPC’s total pr...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Iran Reveals Impact Of Bushehr Outages, UAE And Jordan Pass Nuclear Milestones
...ants. Iran’s nuclear program has been blighted with a series of delays and setbacks. The 1GW capacity Bushehr plant started up on 3 September 2011 after a long and controversial stop-start development program. Plant manager Hossein Darakshande announced on 8 October that the plant had delivered 8.7TWh of...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
MOL Confident Of Future In Kurdistan
...erations in Syria by Croatian INA, 49% owned by MOL, remain halted. INA pulled out of Syria along with other foreign operators after the European Union imposed sanctions against Damascus in the early days of the rebellion against the Bashar al-Asad regime in 2011. Mr Dodds says he is not sure what co...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Egypt Bags More Aid Amid Gaping Budget Deficit
...tual vs ‘12-13 vs budget 11mths** (to May14) Budget 2012-13 2011-12 Revenue 54...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Algeria Stares Deficit In The Face
...ojected only a moderate worsening to $10.4bn this year; the actual numbers for January-August suggest $7bn will be closer to the mark. Algeria posted a $20bn surplus as recently as 2011 (see graph). Oil Prices Down The key change has been the sharp fall in crude prices since July. The average pr...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 85.77 91.44 92.26 93.13 95.95 97.25 103.00 98...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Kuwait Sticks To 4Mn B/D 2020 Target, But Questions Remain
...ve been mostly ‘off’ as of late. Kuwait will likely find it difficult to recruit IOC involvement, in large part due to political wrangling: for example, Kuwait’s public prosecutor is investigating Shell’s $800mn consultancy deal with KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Sonatrach Preempts Petroceltic Ain Tsila Sale
...rrels of condensate. First gas is scheduled for 2017. Petroceltic now owns 38.25% of Ain Tsila, whilst Italian power firm Enel has 18.375%. Petroceltic, following its initial 2011 farm out to Enel, has for some time sought to divest a second similar-sized stake: both to help fund development an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Algeria Launches Biskra Amid Problems For North African Refiners
...5 Completion of 35,000 b/d expansion in May 2013 took Skikda capacity to 335,000 b/d. Egypt 726 Egypt’s net product demand nearing refining capacity before 2011 regime change. Libya 38...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Nuclear: UAE Pushes Ahead, Iran Waits On Bushehr
...e first operational nuclear power plant in the MENA region, which was shut down in February (MEES, 1 March). This is the second major shutdown since it was brought online in September 2011: two months of repairs followed the discovery of debris in the reactor housing (MEES, 18 January). Ru...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...December 2011. Saudi Arabia too cut back production in September, from a 33-year high of 10.2mn b/d posted for the previous month. Initial MEES estimates put total supply from the producer group at 30.04mn b/d, down significantly from an upwardly revised 30.83mn b/d in August. The 80...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Zeidan Kidnapping Highlights Oil Industry Risks In Libya
...provement on an average of just 350,000 b/d for September. Prior to the strikes, production stood at around 1.5mn b/d, only fractionally less than output before the revolution of 2011. Libya’s gas production also slumped as protestors shut down a pumping station at the Wafa gas field, reducing fl...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Sudan: Crackdown Unifies Rebels
...proving the performance” of an economy still reeling from the loss of 75% of its former oil production to South Sudan when it seceded in July 2011. Latest official figures put the number of dead at more than 70, though human rights organizations have quoted figures closer to 250. Over 600 others ar...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Egypt Subsidies
...event the emergence of a black market or the smuggling of products (MEES, 31 May). Egypt’s Finance Ministry projects the 2013-14 (July ’13 to June ’14) cost of energy subsidies at E£100bn ($14.5bn). This compares with actual figures of E£120bn for 2012-13, E£95.5bn for 2011-12, E£67.7bn for 20...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Kuwait Finance Minister Calls For Leaner Public Sector And Reforms
...rpluses, recent domestic political developments have hit the Kuwaiti economy. The implementation of the 2011-14 development plan has lagged and generous increases in the public sector wages have undermined the government’s efforts to encourage Kuwaitis to join the private sector. The long-term objective sh...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Arctic Economics In The 21st Century
...timates that traffic through the Bering Strait has nearly doubled from 245 vessels in 2008 to over 400 vessels in 2011. Finally, with tourism, the number of cruise ships venturing in Arctic water has more than doubled over the past eight years. More than 65,000 passengers departed from Svalbard, Norway, an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Benchmark Crude Prices ($/B
...12 2011 WTI 103.01 103.12 103.06 106.27 106.55 105.73 94.17 94.18 95...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...OPEC OPEC Output At Near Two Year Low In September On Iraqi Outages OPEC oil production fell to its lowest level in almost two years in September, as further declines from Libya and Iraq brought the producer group close to its 30mn b/d output target, agreed in December 2011...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Oil-Rich Abyei No Longer Open For Discussion, Juba Says
...adlock on the Abyei referendum on the grounds it ignored the eligibility of the predominantly Muslim nomadic people of the Misseriya tribe to vote. By way of a protocol, the 2005 CPA had originally granted Abyei a January 2011 referendum in order to decide whether it joined the South, or re...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012