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Iran Revives Oman Gas Export Plans
...ggest gas producer Petroleum Development Oman (PDO) aims to boost output from new discoveries, and also reduce its own gas use by improving efficiency. Oman and Iran came very close to reaching a gas agreement in 2011, MEES learns, but talks broke down after Iran had a sudden change of heart ve...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Qatar’s Nakilat Faces LNG Market Challenges
...766mn ($210.4mn) compared with QR833.1mn ($228.9mn) in 2011, an 8% year-on-year reduction attributable to higher operational and administrative costs in 2012. Nakilat’s fleet consists of 25 wholly-owned vessels, of which 14 are Q-Max and 11 are Q-Flex, and 29 jointly-owned vessels. The port of Ra...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Turkey Green Lights Bosphorus By-Pass Canal Mega-Project
...s modern reincarnation, the initiative was proposed by Turkish Prime Minister, Recep Tayip Erdogan, who dubbed it his “crazy project” during his 2011 election campaign. Plans for a major 1.5mn b/d pipeline from the Black Sea port of Samsun to the Mediterranean export terminal of Ceyhan have not pr...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Toyo And ENPPI Awarded Ethydco Polyethylene Project
...rly 2015, with construction cost estimated at $600mn. Egypt continues to push its petrochemicals expansion plan despite the uncertainty over foreign investment following the January 2011 revolution. ...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Qatar Tiptoes Into North American Upstream
...ture look for joint shale gas projects in the US and, potentially, LNG projects in North America. In the past, it has taken QPI some time to act on MOUs. QPI and Centrica originally signed an MOU in 2011 and only this week together purchased acreage in Canada. Joint Interest Mr Jaidah sa...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
US Pressure Smothers Kurdish Oil Export Ambitions
...ar or so, this was a policy that lacked teeth. After an initial entry of US firms in 2007 into the region, American investment gathered momentum in 2010 and 2011 (see table). This investment influx coupled with the active participation of former US officials as consultants in the sector, al...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Mubadala Petroleum Profit Slips
... UAE Mubadala Petroleum Profit Slips The profit of Abu Dhabi’s state-owned Mubadala Petroleum slipped to $798mn (Dh2.93bn) in 2012 from $1.25bn (Dh4.59bn) in 2011. This was, in part, due to lower hydrocarbons revenue – which slipped to $1.76bn (Dh6.46bn) in 20...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
No Breakthrough In Egypt-IMF Loan Negotiations
...economics, but also depends on politics… You need to restore confidence.” In order to stabilize the level of the Egyptian pound, which has slid from E£5.80 to the dollar at the beginning of 2011 to E£6.90 now, as well as the country’s banking system “a set of economic policies which goes in the di...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Cyprus Bail-Out Terms Signal Huge Policy Shift For Eurozone Bank Resolution
...en bondholders sued, the courts upheld the Government’s position. Table 1: Assets Of National Banking Systems % National GDP, End 2011 Eurozone 17 Assets of All Banks % GDP Assets of Domestic Banks % GDP Austria 395 29...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Benchmark Crude Prices/Oman Oil Production
...OIL PRICES Benchmark Crude Prices* 18-Apr 08- 12 Apr 01- 05 Apr 13-Mar 13-Feb Q1 2013 Q4 2012 2012 2011 WTI 87.73 93...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Chinese Crude Imports by Country of Origin
...total Rank ‘000 b/d % 2012 2011 MIDDLE EAST 2,813 3,233 -420 3,034 53.3 162 5.7 2,700 2,607 Saudi Arabia (OPEC) 1,...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
South Sudan Turns On The Taps
...ity state. “This is a sign of peace. No way are these sisterly countries to live without peace; and [now] oil will play a great role to keep the peace in Sudan and South Sudan,” he told crowds that had gathered at the event. South Sudan seceded from Sudan in July 2011, taking with it around th...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Egypt: Fraying At The Seams
...d been founded. Shell and Statoil – both deepwater heavyweights – gave up deepwater exploration in 2011, not because there was no gas, but because rising costs left them unable to see a way of commercially exploiting any discoveries. And this is with Egypt – unlike Cyprus or Israel – al...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
OPEC And IEA Trim Demand Forecasts On Weaker Than Expected Data
...vere supply disruptions in the future. OPEC Vs IEA Supply-Demand Balances (mn b/d) 1Q12 2Q12 3Q12 4Q12 2011 20...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Benchmark Crude Prices
... OIL PRICES Benchmark Crude Prices* 11-Apr 01- 05 Apr 25- 28 Mar 13-Mar 13-Feb Q1 2013 Q4 2012 2012 2011 WTI 93...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Algeria: Repsol Find
...vember 2012); the latest hit a 50mn gas column and was drilled to a total depth of 1,510ms. The large concession, acquired via 2009 bidding contains several former oil and gas discoveries and lies between BP’s In Amenas fields and the Libyan border. Exploration began in July 2011 with the acquisition of...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Key Yemen Crude Export Infrastructure Targeted
...tbreak of protests against former president ‘Ali ‘Abd Allah Salih in 2011. Sparked by similar revolts in Tunisia and Egypt, these protests led to the ousting of the Salih regime, which in turn created a power vacuum that armed groups have looked to exploit....
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
DEWA Inaugurates UAE’s Largest Power And Desalination Plant
...onomic growth in Dubai. In 2012 electricity production capacity increased by 10.6% compared to 2011.” DEWA said the M Station incorporates six 234mw gas turbines, three 218mw steam turbines, eight 17.5MIGD multi-stage flash (MSF) distillation units, six heat recovery boilers, two 370 tons/hour du...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Comment: Domestic Problems Vex Egypt’s Regional Role
...ve been weakened, not strengthened. Egypt has traditionally played a dominant role in regional Middle Eastern politics, and in the wake of the 2011 revolution it was widely expected that Cairo would reclaim this position for the first time since the Camp David Accords in 1978. However, th...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013 -
Kufpec Looks to Asia-Pacific To Boost Output
...fpec official tells MEES. More details will be available after the decision is made. Kufpec met its 2010 production target of 80,000 barrels of oil equivalent per day (boe/d), but has since witnessed declines. While the company produced just 72,000 boe/d in 2011 and MEES estimates that it pr...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013