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Gulf Drilling Falls To New Lows
...*Latest figures from Baker Hughes show Gulf drilling activity falling further from what were already multi-year lows (MEES, 11 September). For GCC countries the overall November total of 205 was the lowest since March 2011. *Saudi Arabia had just 60 active drilling rigs the lowest figure si...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Tunisia’s Debt-Fueled Revolution Marks 10 Years
...tings agency Moody’s puts the figure closer to -10%. But even 2019’s growth of 1% was nowhere near levels needed to create enough jobs and jolt the economy. Tunisia’s biggest problem has been a series of weak governments – some 12 in total since 2011 – that have been unable to carry out structural re...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Sudan Looks To Reverse Upstream Decline With 2021 Bidding
...Sudan’s crude output is running at 64,000 b/d, down 44% on 2014 levels and some 86% below the 457,000 b/d produced before South Sudan seceded in July 2011, taking with it 75% of Sudan’s production. Acting Energy Minister Kheiri Abdelrahman says Sudan hopes to add 20,000 b/d next year. But he...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Prices Hit 11-Year Lows With No Sign Of A Reprieve
...erage imports from Iran of 120,000b/d for the first 11 months of 2015, this year is on target to be the lowest for at least a decade: last year South Korea imported 125,000 b/d from Iran; volumes were twice as much (248,000 b/d) in 2011 before sanctions intensified (see graph). The IEA’s latest mo...
Volume: 58Issue: 51Published at Fri, 18 Dec 2015 -
Libya: Fragile Peace Leaves Many Questions Unanswered
...volved in fighting in Libya since the ousting of Muammar al-Qadhafi in 2011. A political agreement is a crucial part of securing a lasting peace in Libya, but the two governments have far from complete control over the patchwork of militias involved in the conflict, whether or not they have declared al...
Volume: 58Issue: 51Published at Fri, 18 Dec 2015 -
Ministers Roll Over Ceiling Again, Badri Gets Seventh Year
...asonable price levels for producers and consumers.” OPEC would “swiftly respond to developments that might have a detrimental impact on an orderly oil market,” it vowed. Basket prices have remained over $100/B for all but three months since January 2011 delivering a revenue bonanza, pr...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Petchem Firms Face Saudi Ethane Supply Restrictions
...e of the lowest costs seen for mega projects, following the financial crisis. It was the largest project financing completed last year, priced at 130-200bps across a 16-year tenor (MEES, 19 December 2011). This was close to the 2010 pricing seen for the Aramco/Total 400,000 b/d Satorp export re...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SABIC Strategy Tracks Demographic Trends
...e US. Industrial Cities The petrochemicals giant is also looking to expand downstream. In March 2011 SABIC and the Saudi Industrial Property Authority (MODON) signed an agreement with Boston Consulting Group (BCG) to develop industrialization strategies for the Saudi cities of Al-Jo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Egypt At the Crossroads: A MEES Special Report On Egypt’s Economy And Politics
...v) $26.6bn $35.2bn GDP (annual % change) +3.3 (Q2)* +1.8 (2011)* +5.1 Industrial Production (% chg on year) -4.4 (Se...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Crude Prices
...12 2011 2010 WTI 85.89 87.53 87.68 86.83 89.57 92.21 93...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Turkey Calls For Russian Input In Gas Storage Program
...nister, Taner Yildiz. Speaking on 8 December, he said that by 2019 Turkey plans to construct five to six new underground facilities which can hold 8 bcm, equivalent to almost 18% of 2011’s domestic demand. Turkey’s gas demand has jumped by almost 50% since 2006, driven primarily by its use as a fuel for el...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
RWE Exit Deals Blow To Nabucco West
...bring additional long-term gas transit streams to Germany, adding that the project no longer served this purpose because major gas supplies “could no longer be guaranteed.” RWE was gravely hit by Germany’s decision, following Japan’s March 2011 Fukushima accident, to phase out its en...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Warship Arrivals Renew Iran Ties With Sudan
...06 2007 2008 2009 2010 2011 2012 2013 24 24.9 24...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Iran’s Subsidy Reform: RIP
...ants to individual consumers on the basis of need was found impractical, and everyone in a family was given the same amount of cash (MEES, 20 June 2011). Unhappy about the government’s undue haste in raising prices much faster than provided for in the law, dissatisfied with uniform mo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
IIF Projects 3.5% Drop In Iran’s GDP In 2012
...IRAN IIF Projects 3.5% Drop In Iran’s GDP In 2012 Iran’s GDP in 2012 is expected to shrink by 3.5% from a positive growth of 1.2% in 2011, the Washington-based Institute of International Finance (IIF) has said in a report on the MENA region. The IIF noted that we...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Peace Breaks Out In Vienna
...en downgraded by some 290,000 b/d and OPEC actually sees the appetite for its crude at some 140,000 b/d weaker than in the last report at 29.76mn b/d (see table). OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q11 2Q11 3Q11 4Q...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Qatar’s Barzan Becomes World’s Largest 2011 Project Financing
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Qatar’s Barzan Becomes World’s Largest 2011 Project Financing When the loan agreements were signed on 13 December for Qatar’s $10bn Barzan gas facility, it became the largest project financing to be completed in the world th...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
IEA Cuts Global Crude Demand Forecast Amid Worsening Economy And High Prices
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 IEA Cuts Global Crude Demand Forecast Amid Worsening Economy And High Prices The International Energy Agency (IEA) has in its latest monthly Oil Market Report (OMR) trimmed its global crude oil demand forecast for 2011 and 20...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
China’s Crude Oil Imports Rise To 22.69Mn Tons In November, Second Highest On Record
...nuary-November 2011 period, China has imported a total of 230.26mn tons (5.03mn b/d). China’s Crude Oil Imports 2010-11 2011 2010 2010 Imports Nov Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Jan Dec Nov Oct Sep Aug Jul Ju...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011