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SEC Awards Revised Rabigh-2 IPP Project
...rayyah was originally conceived as a 1.8GW plant, but its capacity was hiked due to cost savings on tariffs (MEES, 26 September 2011). The 1.73GW Riyadh PP11 project, led by France’s GDF Suez, reached full capacity in early 2013, having begun early power generation of 600MW in June 2012 (MEES, 19 April). Ar...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Gathering Storm For OPEC As Iran Lays Down The Gauntlet
...epticism on the part of the Saudis over the Islamic Republic’s ability to make good on its pledge. Saudi Arabia, Iran: Crude Output Change Since Jan 2011* (Mn B/d)...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
‘Every Time We Go To Quotas, Who Bears The Brunt? Us’
...how does an organization impose discipline in the absence of production quotas, previously calculated on a pro-rata basis and now replaced with informal targets that have not been made public. The only guidance issued by OPEC since December 2011 has been an overall production target of 30mn b/d th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Egyptian Military Faces Challenges
...e security forces, the police and the Ministry of Interior. The judiciary has played a prominent role since the overthrow of President Mubarak in 2011, and guards its independence jealously. And the youth movement, which feels that the revolution it led against former President Husni Mubarak has be...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Weatherford Hit By MENA Corruption Rap As Region Ranks Poorly
...change Commission (SEC) to settle corruption charges linked to a string of incidents in the Middle East and Africa. The firm “between at least 2002 and July 2011” routinely secured business through bribes and lavish corporate hospitality, according to evidence catalogued by the SEC in a 25-page do...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Oman Poised To Curb State Expenditure In 2014
...ys soaring government expenditure between 2010 and 2013 became a major challenge for the state, especially given that some 75% of the total went on current expenditure, which cannot be reduced easily. In the wake of the Arab Spring, Oman in early 2011 embarked on a policy of social spending in order to...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Benchmark crude prices ($/B)
...12 2011 WTI 97.38 93.00 94.00 93.85 100.57 105.73 94.17 94.18 95...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Yemen Fuel Crisis Looms
...ntinues to be targeted in this way. Yemen’s oil and gas installations have been the target of choice for tribal and Islamic militants since anti-government protests created a power vacuum in early 2011. Yemen has had to contend with twelve separate attacks on its oil and gas pipelines since the st...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
South Tunisia Gas Development Pushed Back
...i a sixth. Proposed Nawara volumes were last year doubled to accommodate the feed-in of the Cherouq discovery following OMV’s February 2011 takeover of the Tunisian assets of US firm Pioneer. This deal made OMV the key operator in southern Tunisia and added 5,000 b/d to OMV’s flagging ex...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Saudi Crude Burning For Power Continues To Rise
...rget, it will struggle to keep pace with power sector demand. According to data given by Saudi Arabia to Joint Oil Data Initiative (JODI), Saudi direct crude oil burning in power stations rose 3.7% to 779,000 b/d in the peak month of August from 751,000 b/d in August 2011 – although some an...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Egypt Faces Critical Days
...E£69.614bn ($11.39bn) from E£47.218bn ($7.73bn) in the corresponding period of fiscal year 2011-12, the November issue of The Financial Monthly, published by the Egyptian Ministry of Finance said. Cairo is badly depending on a $4.8bn loan from the IMF to breathe some confidence back into the ec...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Saudi Mulls London Arbitration Center
...ternational bank creditors, have largely been fought in London, the Cayman Islands, New York, and other jurisdictions (MEES, 31 October 2011). After three years of legal wrangling with the two parties, international banks are still owed over $12bn. There is a reluctance to fight claims in Saudi courts by in...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Oman Announces Record 2013 Budget
...presenting 15% of revenue and 5% of GDP, up from the projected deficit of OR1.2bn ($3.12bn) in 2012. The budget was drawn up in line with the objectives of the eighth five-year development plan 2011-15, Mr Balushi noted. The minister explained that while the 29% increase in expenditure will be a record le...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Benchmark Crude Prices* /Official Iraqi Oil & Gas Data^ ('000 b/d) / Economic Data – MENA
...12 2011 2010 WTI 88.07 87.92 86.28 89.57 94.69 92.21 93.64 95...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Yemen Looks To Gulf For Oil, Gas Investment
...terest in its oil and gas industry. Crude production in Yemen has been in steady decline over the past decade, with BP estimating the country’s 2011 production at 228,000 b/d, down 24% from the 2010 figure of 301,000 b/d, and 50% off 2001’s 455,000 b/d. The authorities have recently stressed th...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Deadlock Continues In Sudan – South Sudan Oil Row
...beration Movement (SPLM) in 2011, the SPLM-N remained in Sudan following the South’s breakaway from Sudan last July (MEES, 11 July 2011), and is currently most active in the Sudanese states of Blue Nile and South Kordofan. “This is impossible,” said President Kiir of Sudan’s demand. “We are in a di...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Edison Takes Stake in Israel’s Upstream Sector
...nsortium administering the 9 bcm/y capacity Al-‘Arish –Ashkelon gas pipeline. The contracts were estimated to be worth around $5-10bn over 20 years. They called for the 1.4 bcm/y exports to start in 2011, and volumes could later be expanded to 2.9 bcm/y (MEES, 20 December 2010). But the EMG line wa...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Jordan Opens Petroleum Distribution Market
...a substitute for Egyptian gas supply which had become unreliable since 2011. ...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Shah Deniz Partners Eye TANAP, Nabucco West Stakes
...DK also granted a gas import license to Bati Hatti Gas Company for 23 years. The combined annual volume all four traders for the duration of their permits cannot exceed 6 bcm, which is equal to approximately 15% of Turkish gas consumption. Botas decided in October 2011 (MEES, 17 October 2011...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
GPCA Sees GCC Petrochemicals Capacity Reaching 145Mn T/Y In 2016
... REGIONAL GPCA Sees GCC Petrochemicals Capacity Reaching 145Mn T/Y In 2016 By David Knott Gulf Cooperation Council (GCC) regional petrochemicals production capacity will rise to 145-146mn tons/year in 2016 from 116mn t/y in 2011, according to Gulf Pe...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012