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Libya: Another False Dawn?
...pede oil production, analysts believe. In a report released on 9 December, investment bank Morgan Stanley predicts average Libyan production of 800,000 b/d for 2014, half pre-revolution output. The bank’s base case scenario “assumes blockades of the eastern terminals remain in place for some time and in...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
KRG: Oryx Hits Big In KRG, Plans Wasit Development
...e discovery will be established as commercial, he added. Toronto-listed Oryx is conducting further analysis of the ZEG-1 well and intends to drill an appraisal well at Zey Gawra in 2014, as part of a multi-well appraisal and development drilling program in the Hawler license area, which is ad...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Oman-BP Tight Gas Deal Expected By End-2013
...d producing either additional gas from Barik, or from Amin,” he says. “We don’t yet know if we will move towards a Phase 2 or 3,” he continues, warning the upcoming agreement would “only be addressing Phase 1.” BP in February 2014 reaches the end of it six-year appraisal plan to assess the Kh...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Oman Upstream Survey: Indies Boost Output To New Highs
...mpaign, supported by the recent addition of a fourth rig. A fifth rig is set to be deployed in 2014, MEES learns, to support its output target of 45,000 b/d in 2014, and 50,000 b/d in 2015. “We believe Daleel can then sustain this level of production or slightly more for many more years,” a source close to...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Lebanon LNG Tender
...gasification unit (FSRU). Mr Basil says that the ministry will begin a round of negotiations with five preferred bidders in January 2014 and expects to sign contracts in the third or fourth quarter of 2014. But it remains unclear if the ministry has the proper authority to execute the LNG deal, given its “ca...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Kuwait Plans Big Downstream Strides, But Takes Small Steps
...gineering, procurement and construction (EPC) contracts for both Al-Zour and the clean fuels project in 2014. Kuwait Petroleum Corporation (KPC) market research manager Nagham al-‘Umar told the Platts Oil Markets Middle East conference in Dubai on 11 December that Kuwait’s refineries are currently pr...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
DEWA Plans $1.9Bn 2014 Projects Spend, Eyes Coal And Solar
...UAE DEWA Plans $1.9Bn 2014 Projects Spend, Eyes Coal And Solar Dubai Electricity and Water Authority (DEWA) has announced a total budget of Dh20.56bn ($5.55bn) for 2014, of which more than one third is intended for spending on capacity expansion projects and equipment pu...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
OPEC Gets Through The Year But Oversupply Threat Looms
...rsus 4Q13. The latest OPEC Monthly Oil Market Report (MOMR) says that demand for OPEC crude is set to contract by 310,000 b/d to 29.57mn b/d in 2014 from estimated 2013 demand of 29.88mn b/d. Yet when OPEC ministers met in Vienna on 4 December, they decided to maintain the 30mn b/d target for the next si...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Sipchem-Sahara Merger MoU
...d continued negotiations with a view to signing a merger agreement in the first half of 2014. According to a joint statement “the proposed merger is expected to enhance the [combined] company’s leading position in the local and international petrochemical industry. The combined business is ex...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Iran Slashes Budget; $100/B Crude, 1.1Mn b/d Exports
...IRAN Iran Slashes Budget; $100/B Crude, 1.1Mn b/d Exports Iranian President Hassan Rohani’s new administration will focus on tackling the twin problems of soaring inflation and unemployment in the year starting 21 March 2014. Outlining details of the 2014-15 budget, the fi...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
IMF: Kuwait Growth Slumps
...se of 3% in 2013. The forecast for overall average consumer price inflation is 3% in 2013. Fiscal and external surpluses are projected at 27% and 39% of GDP respectively in 2013, reflecting high oil prices, the IMF says. Looking ahead the IMF expects an improvement in the economic outlook in 2014 an...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013