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GCC Union Postponed
...REGIONAL GCC Union Postponed Leaders of the six Gulf Cooperation Council (GCC) states have postponed a decision on a proposal submitted by Saudi Arabia two years ago to move from the stage of “cooperation” to full “union” (MEES, 26 December 2011). GCC Secretary Ge...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Falling Commodity Prices Won’t Mean Fewer Company-Government Disputes
...mining, at least 25 governments announced tax increases between 2010 and 2011 alone. Companies are left with the choice to acquiesce or seek legal redress, often in countries where the legal system is influenced by national politics and political elites. In May, Barrick Gold and Antofagasta we...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices 12 Dec 2-6 Dec 25-29 Nov Nov-13 Oct-13 Q3 2013 Q2 2013 2012 2011...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Politics Threatens To Bust Kurdish Oil Investment Boom
...xt? Every province will want to do the same thing. Imagine Basra? You know it would then be Game Over.” KRG Oil Production Profile (‘000 b/d) Block/Field Operator 2011 Average Production Cu...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Eni Returns To Libyan Exploration Drilling
...s been eager to tout its commitment to Libya post-revolution. It was the first international company to resume production in Libya in September 2011 (at Bu Attifel), the first to lift force majeure in December 2011 and the first to resume offshore exploration activities in February 2012. The latter wa...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Output Ratchets Up Ahead Of Vienna Meeting
...mpares with 9.3mn b/d in 2011, when Riyadh stepped in to compensate for lost Libyan production, and 8.5mn b/d in 2010. But Iraq has been the biggest beneficiary of lost Iranian market share on the back of US and EU sanctions (MEES, 30 November). Iraqi output in November notched up an eighth successive mo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Crude Official Selling Prices, Benchmark Crude Prices & Official Iraqi Oil & Gas Data
...46 Benchmark Crude Prices* 06 Dec 26-30 Nov 19-23 Nov Nov Oct Q3 2012 Q2 2012 2011...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Yemen Launches Offensive Against Pipeline Saboteurs
...d gas installations have been the target of choice for tribal and Islamic militants since anti-government protests created a power vacuum in early 2011. The militants are thought to be using such acts of sabotage to pressure the government into both distributing handouts and releasing a number of tr...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Weak Global Economy Continues To Weigh On Saudi Petchems
...mmercial operations for most of its plants in October 2011. In August this year it began commercial operations at its amines plant, and at the end of September announced that it had started trial operations at its low density polyethylene plant. Yansab, which is 51% owned by SABIC, said that the 10...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
MENA Refinery/Petchem Expansion Plans Moving Ahead
...erated 40,000 b/d Irbil refinery and a major upgrade to the 34,000 b/d Bazian refinery. The first 20,000 b/d addition to Irbil should be on stream by the beginning of next year, slightly behind the original schedule (MEES, 24 October 2011), to be followed by a second 20,000 b/d unit within a couple of mo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Qatar Launches Solar Program To Conserve North Field
...lar plants, as its much-vaunted Masdar clean energy initiative stalls. Doha wants to conserve its gas reserves in the North Field, which faces complex challenges, including pressure drops (MEES, 12 December 2011). Qatar is unlikely to end the moratorium on further development when the study in...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Eni Rocked By Algeria Corruption Probe
...June 2011). The Iraqi part of the investigations relates to Eni’s contract to spend $18bn raising production at the giant Zubair field from the current 270,000 b/d to 1.2mn b/d by 2017 (though there is likely to be some slippage on both volumes and date). Eni has maintained a code of si...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Damascus Fighting Strains Syria’s Frail Economy
...ovide the necessary services and utilities for its own people. Last week Damascus faced the worst power cuts since the beginning of the revolt in March 2011, with reported outages of seven to nine hours per day. Officials from the ministry of electricity have blamed the power shortages on “sa...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Iran’s NDF Holds $43Bn In Reserves
...mpany (IOOC) with $1.5bn through to August 2013 to help it boost production by 175,000 b/d (MEES, 23 November). NDF was established in 2011 under the aegis of the fifth five-year development plan (2010-15) with the aim of transforming oil and gas revenue into productive investments for future ge...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
EBRD Makes Initial Egyptian Investment
...2011’s political upheavals with the aim of kick-starting post Arab Spring investment (MEES, 28 May). In September the EBRD announced its first investments in in Tunisia, Jordan and Morocco as part of plans to allocate €200mn by the end of 2012. Regional investments are slated to climb to as...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Saudi Arabia Flexes Capacity Muscle To Lift OPEC Output To Three-Year High
...10 – November 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec Nov Algeria 1,250 1,...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Iraqi Oil Sector Faces Year Of Challenge And Promise
...ojects are set to hit key milestones or begin. However, the massive planned oil industry expansion comes amid a sharp deterioration in oil relations between Baghdad and Irbil in the wake of October’s ExxonMobil upstream agreement with the Kurds, writes Rafiq Latta. While 2011 began with the re...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
EIA Again Trims Crude Demand Projections As Demand Risks Persist
...Middle East Economic Survey VOL. LIV No 50 12-Dec-2011 EIA Again Trims Crude Demand Projections As Demand Risks Persist The US Energy Information Administration (EIA) has again reduced its forecast for global crude oil and liquid fuels consumption for 2011 and 2012. It said in th...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Saudi Crude Prices Raised To Far East And Europe
...llows ($/B): US (Price Reference ASCI) 2012 2011 Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan Arab Light (32-36°) -0.05 -0....
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 50 12-Dec-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Nov Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011