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Eni Expects South Stream Austria Section To Go Ahead
...tempt to buy a controlling share of the Central European Gas Hub at Baumgarten in Austria, which is 80% owned by Austria’s OMV (MEES, 19 December 2011). Gazprom has not yet made clear its position on Austria’s South Stream participation. However, Mr Scaroni also said that the South Stream se...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Polish Pipeline Operator Calls For Azeri Crude Commitment
...de.” The Odessa-Brody section of the pipeline was commissioned in 2002. In early 2011 Azeri state firm Socar used the Odessa-Brody line to ship 4mn tons of crude to Belarus (MEES, 21 February 2011). In 2004 a consortium was established by PERN Przyjazn and Ukraine’s oil pipeline operator Ukrtransnafta to...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
TransGlobe Targets Egyptian Growth Despite Delayed Payments
...the 4,350 b/d West Bakr permit from Japan’s Inpex at the end of 2011 boosted the company’s net Egyptian production to almost 17,000 b/d. But the company continues to await government approval of its purchase of a fifth Egyptian block, a 50% operator’s stake in the Western Desert’s South Alamein co...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Saudi Arabia To Lend Egypt $500Mn For Development Projects
...rt of a financial package that Saudi Arabia had pledged to finance urgent projects in the aftermath of the 25 January 2011 Egyptian revolution. According to Egyptian Minister of Planning and International Cooperation Fayiza Abu al-Naja, who initialed the agreement with Saudi Finance Minister Ibrahim al...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Asia-Pacific Refiners Slash Iranian Crude Imports
...6,183 b/d and it slashed its March imports by half compared to the year before, due to disputes over contract terms. Tokyo’s customs data released on 26 April showed March imports from Iran at 355,400 b/d, down from 379,200 b/d in the same month in 2011. Japan, the third largest buyer of Iranian oil, will cu...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Second Phase Of Subsidy Reform Plan To Await Budget Approval
...ood at 12.5% at the end of 1389 (2010-11) and by the end of 1390 (2011-12) it reached 21%. Therefore the rate rose by 10% as a result of the targeted subsidies.” The official also revealed that the government has sent text messages to 1.666mn families in Iran asking them to waive their right to ta...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
IMF Says Jordan Could Face Downside Economic Risks
...Jordan IMF Says Jordan Could Face Downside Economic Risks After achieving robust economic growth which averaged 6.5% in 2000-09, Jordan’s real GDP growth has slowed down sharply to 2.3% in 2010 and a projected 2.5% in 2011, according to the International Monetary Fund (IMF) in its Ar...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
AGOCO Protests Spread To Zueitina Terminal
...layed post-conflict restart. The reason for the plant’s continued outage is disputed. AGOCO has been told that the key reason is a lack of storage at the plant – where three storage tanks damaged during last year’s fighting have yet to be repaired (MEES, 14 March 2011). An alternate ex...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Turkey And India Eyeing Qatari LNG
...tal 8.03 Total 12.15 Source: BP Statistical Review of World Energy 2011. Turkey meanwhile has also expressed its intention to up its supplies from Qatar, with Turkish Minister of Energy Taner Yildiz suggesting the two co...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Egypt Terminates Gas Supply Agreement With Israel, Says New Deal Possible
...st develop and adequately supply itself with energy through the natural gas resources that have been discovered in its Mediterranean offshore. Since the removal of Husni Mubarak from power in Egypt in February 2011, Egyptian gas pipeline infrastructure in the Sinai Peninsula has been da...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
IMF Forecasts 2012 Oil Price At $114.71/B, Sees Modest MENA Growth In 2012-13 span>
...r 2013, according to the latest World Economic Outlook (WEO). But the IMF is concerned that disruption in crude supplies triggered by sanctions on Iran could cause oil prices to spike, with adverse repercussions on the world economy. Growth in the MENA region was below trend in 2011 pr...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
AFESD Allocates $3.2Bn For Development Of Arab Spring Countries
...nancial problems as a result of regional and international crisis. AFESD made this announcement at the annual meeting of its board of directors, which convened on 21 April in Morocco. AFESD had pledged to contribute this amount to these countries under the Deauville Initiative, which was set up in 2011 by in...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
NCP Olefins Cracker Project Start-Up Delayed, Targets 2Q
...iginally been targeting the first quarter of 2011 and then the date slipped to the fourth quarter. It was delayed as a result of design issues discovered during commissioning and as a result extra safety measures that had to be implemented, MEES further understands. The project includes the construction of an...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
TransGlobe Looks To Weather Yemeni Storms
...men was the company’s main focus – to 1,500 b/d for 2011. Increased instability, closing down activities on two of the four blocks where it is active, has seen production slide further to a mere 370 b/d so far in 2012. The company as a whole has been able to weather this storm thanks to bo...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Shah Deniz Partners To Proceed With FEED Phase For Stage 2 Development
...derstanding of projected costs, which according to Socar’s President Rovnag Abdullayev could “vary by 30% either upward or downward in the course of the project.” Last June BP estimated Shah Deniz 2 costs at $20bn (MEES, 13 June 2011). ...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
KMG EP May Take Part of KMG Stake In Kashagan
...dical reshuffle of the leadership of Kazakhstan’s energy sector. KMG lost 11% of its revenues last year due to months of strikes (MEES, 26 December 2011). ...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Egypt Bidding Delayed By Political Upheavals
...cluding the Muslim Brotherhood’s preferred choice and former intelligence chief 'Umar Sulaiman – were last week barred from contesting the election. The country’s oil and gas sector appeared to be getting back into its stride late last year and early this year after the massive upheavals earlier in 2011 bu...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Qasemi Says Sanctions Will Change Oil Market, Criticizes Saudi Policy
...e end of 2012 adding that the country’s output could also be curtailed by a further 200,000 b/d in 2013. “Iran’s decline in output began to accelerate during the last quarter of 2011 and has continued,” the EIA said, attributing the fall to a shortage of investment “which is needed to offset natural pr...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Jordan Considers Measures To Lower Its Energy Bill
...Jordan Jordan Considers Measures To Lower Its Energy Bill Burdened by a massive energy import bill of JD3.4bn ($4.8bn) in 2011, the Jordanian government is currently examining measures aimed at reducing its budget deficit. Prime Minister 'Awn al-Khasawna told visiting officials from th...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Leaked Report Alleges High-Level NOC Mismanagement
...spection and Popular Control at the end of 2010 and due to have been presented to a closed session of the Libyan People’s Congress in March 2011, highlights “murky dealings” and “systematic mismanagement” at NOC, according to Giulio Carini of London-based transparency campaign group Global Witness, who ob...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012