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Glimmers Of Hope As Egypt Craves Stability
...EGYPT Glimmers Of Hope As Egypt Craves Stability The prolonged period of flux that has held sway over Egyptian politics since the revolution in 2011 continues to affect oil and gas producers in the country. But there are signs that management changes at the petroleum mi...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Atlantic Frontier Hots Up As BP Enters Morocco
...nverting a ‘reconnaissance contract’ (an initial exploration deal not requiring a drilling commitment) held since 2011 to a full exploration agreement. Kosmos says that the three blocks together “will allow integrated exploration over a significant portion of the Agadir Basin, one of the last re...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Hidden Fuel Exposes Middle East Energy Policy Flaw
...tes. While making up only around 3% of the global population, over a third of the $523bn of global energy subsidies in 2011 were dispensed in the Middle East, according to the IEA’s 2012 World Energy Outlook. Eight countries in the region feature in last year’s top 20 list of subsidisers. “Su...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Iraq Signs Misan Deal With Satarem As Refineries Program Gathers Pace
...r Misan refinery in 2009. These were completed in early 2011. In 2010, US firm KBR was awarded contracts by the oil ministry for licensing and basic engineering for a 47,500 b/d fluid catalytic cracking (FCC) unit and a 45,000 b/d solvent deasphalting unit to be built at the Misan refinery. The mi...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
IEA, OPEC See Deeper Cuts In 2014 Call On OPEC
...t average oil output for the group at 30.05mn b/d in September, down close to 400,000 b/d from August levels – leaving it just 50,000 b/d off the 30mn b/d production ceiling agreed on in December 2011. OPEC members are set to meet in Vienna in December this year. But despite crude oil pr...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
2014 Presidential Elections Dominate Algerian Politics
...unds in 2011. This prompted Mr Khalil’s successor, Mr Yousef Yousfi, to introduce an amended hydrocarbon law designed to attract investors into unconventional oil and gas fields in order to help stem declines from conventional fields. IOCs argue that the amended law still needs further re...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
PDO To Invest $11bn Through 2022 To Maintain Crude Plateau
...s Mukhaizna heavy oil field in Block 53, a target it intended to achieve in 2011 (MEES, 15 November 2010). Oxy has since seen its costs soar from $2bn to about $9bn, as it has doubled the expected number of wells needed to inject steam into the reservoir. Oxy, which has a reputation for ru...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Iraqi Budget Projects Record 2014 Expenditure
...12, the DFI had a balance of $18bn, the budget statement said. The expected budget deficits in 2011 and 2012 did not materialize, because actual oil prices exceeded the original projections, while at the same time there was underspending on investment projects. The draft budget projects an in...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
World Bank Sees Decline In Post-Arab Spring MENA Growth
...REGIONAL World Bank Sees Decline In Post-Arab Spring MENA Growth The ongoing political and social upheavals which followed the Arab Spring of 2011 continue to weigh down economic activity across the MENA region, the World Bank says in its recently released ‘MENA Economic De...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 100.67 102.63 103.12 106.27 106.55 105.73 94.17 94.18 95...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013