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Hydrocarbons Remain Key To MENA Power Expansion
...nagement contract for PP13 and PP14 to Australia’s WorleyParsons. SEC plans to award engineering, procurement and construction (EPC) contracts for the plants in 2014 with a view to 2017 start-up (MEES, 3 May). In September, Korea’s Hyundai awarded France’s Alstom a €170mn contract for four 720MW steam tu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Oman Plans First Solar Unit Under Rural Plan
...ar. Start-up is scheduled for June 2014. AER decreed in March that Raeco must incorporate renewables technology – either solar or wind – in each project for which it seeks authority funding. AER estimates Raeco’s total generating capacity at 282MW from 45 diesel-fired plants. Most of Oman’s ca...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...-nation group meets to determine output policy for the first quarter of 2014, it will have to contend not only with the faster-than-expected rise in US shale oil production, but also prepare the ground for the eventual rise in Iranian oil output if the sanctions are scrapped. Back home, Iran has been bu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Lebanese Bid Round Hostage To Politicial Stalemate
...fore IOCs are sure what they are bidding for and under what specific terms – all subject to the approval of a future government. With no grand compromise in sight, it may be well into 2014 before Mr Salam is able to form a new government. It is therefore highly likely that there will be fu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Egypt’s Gas Crunch: Is A Quick Fix Possible?
...ne 2014. This fiscal burden has prevented it from paying oil and gas producers in full, and IOC receivables stood at over $6.4bn by the third quarter of this year – likely well over given that this figure excludes key producers such as Eni, Shell and Apache (see table, MEES, 15 November). Eg...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
GCC Growth ‘Robust’ Despite Geopolitical, Economic Headwinds-IMF
...ojects are implemented and private sector confidence remains high. For 2014, the IMF projects an increase in oil production, which, coupled with steady non-oil growth, would yield an overall GDP growth rate of just over 4%. Curbing Energy Consumption Absent policy reforms, the IMF expects GCC do...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Iran: Rohani Slams Legacy
...mmitments this figure rises to some $133bn, he says. The country had entered a state of “stagflation” with year-to-year inflation in late September 2013 at 43%, but falling to 36% in the year to late October 2013. Mr Rohani is targeting a fall in the inflation rate to 35% by March 2014 and 25% by March 20...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
China Consolidates Its Position In The Iraqi Oil Sector
....33%. Production from the field is expected to average 1.45mn b/d in 2013, rising to 1.55mn b/d in 2014. The production plateau in the Rumaila contract is 2.85mn b/d sustainable for seven years. BP and CNPC have proposed three lower plateaus and longer periods, but negotiations have been in...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Algeria’s South West Gas Project Delayed To Late-2016
...gan earlier this year with a total of 41 wells, of which 24 were to be drilled before first production. Construction of gas processing facilities will begin in 2014, GdF says. GdF is operator with 49% whilst Sonatrach has its customary 51% stake. However GdF is responsible for almost two-thirds (65%) of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Qatari Condensate Production On The Rise
...Energy and Industry Muhammad al-Sada signed a 25-year renewal of Total’s PSA for 25,000 b/d offshore al-Khaleej. The contract was due to expire in early 2014. For Qatar’s swing producer, the offshore al-Shaheen field, the development plan is to plateau production at current rates of 30...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Morocco Set For Record 2013 Drilling As Genel Expands
...year exploration period. The firm says it will kick off seismic acquisition in January, “with the aim of drilling our first well in 2014.” The 3,259 sq km block has water depths of 60ms to 320ms. Mir Left is directly offshore Agadir and immediately northeast of the Sidi Moussa Block where Genel in Au...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Saudi Aramco Pushing Refinery Projects, Marks Jazan Milestone
...industrial city capable of attracting investors.” In May Yanbu’ Aramco Sinopec Refining Company (Yasref) estimated progress on the project, due on-stream in the second half of 2014, at 20%. Saudi Aramco says the refinery will process 400,000 b/d of Arabian Heavy crude oil and will produce hi...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
QAPCO Inaugurates LDPE 3 Plant At Mesaieed
...art of the complex. Other planned units will have capacity to produce 850,000 t/y of high density polyethylene (HDPE); 430,000 t/y of LDPE; 760,000 t/y of polypropylene; and 83,000 t/y of butadiene. QP announced in September that it plans to borrow $10-13bn in 2014 to finance three projects at...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Iran Nuclear Plant Shut Down, UAE Gauges Impact Of Korea Safety Scam
...ak and observed that the installation of cooling and moderator circuit piping was continuing. “During the DIV,” said the report, “Iran stated that the operation of the IR-40 reactor was now expected to commence in the first quarter of 2014.” Mr Albright said the Arak construction delay was widely an...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Bahrain Unveils 2013-14 Draft Budget
...BAHRAIN Bahrain Unveils 2013-14 Draft Budget Bahrain’s two-year draft budget for 2013-14 projects total revenue at BD5.578bn ($14.83bn) – comprising BD2.788bn for 2013 and BD2.790bn for 2014 – and total expenditure at BD6.993bn ($18.60bn) – comprising BD3.445bn for 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
GTL Costs Under The Microscope As Qatar Inaugurates $18.5Bn Pearl Plant
...id in its June financial report that Oryx will debottleneck to boost capacity 10% by 2014. The increase is a scale-down from previous plans to add a further three trains, taking total capacity to 100,000 b/d. ‘Huge Capex Costs’ Furthermore, MEES learns that the costs for building such a plant ha...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Gulf Sukuk Issuers Brave Volatile Markets
...ll be much better, he warned. With the amount of debt maturing in the Gulf set to spike in 2012-14, Gulf bond issuers are facing rising refinancing risks, cautioned Standard & Poor’s Rating Services (MEES, 21 November). Bonds and sukuk worth $25bn will mature in 2012, rising to $35bn in 2014, ac...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Kuwait And China Begin Construction Of $9.3Bn Refinery/Petchem Project
...March (MEES, 21 March). KPC has since said it is still on the lookout for an international oil company with which to partner on some of its 50% stake in the project. With plans to have it online and operational by 2014-15, the project will secure a stable outlet for Kuwaiti crude oil as KPC lo...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
TPAO And Shell Sign Farm-In Accord For Offshore Antalya Blocks
...ploratory drilling in 2014 or later. Turkey has had the blocks along its southern Mediterranean coastline open for tendering for several years. Most of Turkey’s offshore activity has been concentrated in the Black Sea in recent years, but discoveries offshore Israel and the start of drilling in Se...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Turkmenistan Tilts Towards West, Considers Rapprochement With Azerbaijan
...PC and Turkmengaz, once the 1,000km, 30 bcm/year capacity East-West pipeline is com-pleted in 2014. On top of that, the former head of Turkmengaz noted, “as early as 2011, Turkmenistan needs a market for gas produced by the Malaysian Petronas company on an offshore block at a rate of 5 bcm/y.” Me...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010