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Sonatrach Slammed
...inted Sonatrach in recent years. The court, in its freshly-released review of Algeria’s 2011 budget, says that Algeria’s tax authorities “lack the appropriate means to verify the tax declarations of Sonatrach and its affiliates.” The court recommends the adoption of a standardized system of ac...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
Suez Canal Traffic, 3Q 2013
...en the key source of southbound shipments. In 2011 southbound crude shipments fell sharply as Libyan exports slowed to a trickle due to the country’s civil war. However volumes sharply rebounded in 2012 and the first half of 2013 as Libya cultivated China in particular as a key market. •Ch...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
GPCA Urges Petchems Firms To Save Water
...ange their procedures overnight.” Some producers are already improving their water usage, says GPCA. Abu Dhabi’s Borouge requires more than 1 bcm/year of water to make plastics, but during 2011-12 it saved 24mn cu ms of fresh water by using cold sea water in its manufacturing processes. Meanwhile, GP...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
US Hikes Mid-Decade Output Estimates By 2mn B/D
...yond domestic demand and maximise product exports. Net US products exports shot up from 250,000 b/d in 2011 to over 900,000 b/d for 2012 and an EIA forecast of 1mn b/d for this year. Net products exports are set to hit 1.3mn b/d by 2030 and 1.8mn b/d by 2040, the EIA predicts. Of course, a revoking of th...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
US And Saudis At Odds Over Syria
...War in Syria,” says it expects Syria’s GDP in 2015 to be 57% smaller than that at the start of the conflict in 2011. The country’s poverty rate will soar to 44.5% over the same period, ESCWA says. ESCWA says that losses to the country are equivalent to “three decades of economic growth and two de...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
South Sudan Fighting Spreads To Oil Fields
...ate. Hundreds have already been killed in the conflict which started on 15 December. This has put the international community on alert; US President Barak Obama has called on the clashing factions to stop fighting. “In 2011, millions of South Sudanese voted to forge a new nation, founded on the pr...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices 19 Dec 9-13 Dec 2-6 Dec Nov-13 Oct-13 Q3 2013 Q2 2013 2012 2011...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013