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Kuwait, Oman And Qatar Push Refinery And Condensate Splitter Projects
...nance minister what one commentator called “explosive questions” – wanting total revenue income from oil on a yearly basis from 2001 till 2011-12, and financial returns on income from 1992 until 2011-12. Political commentators are guessing at his motives and the government’s answers. Mr Sa'dun had pr...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Cyprus Targets Role As Regional Energy Center
...cused on meeting that 2015 deadline. The 793mw capacity Vasilikos power plant was wrecked by a massive explosion at a nearby military base in July 2011. Since then, the Electricity Authority of Cyprus (EAC) has been working to rebuild the facility as a gas-fired plant. Cyprus Licensing Ro...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Oil Producers Use Higher Crude Prices For 2012 Budgets
...last year, it did not report a 2011 price. Of the remaining five, two countries are leaving prices unchanged – Bahrain produces a budget every two years, and Algeria has stuck resolutely to the $37/B it has used since 2009. However, Algeria officially uses a market price of $90/B for accounting pu...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Libyan Production Tops 1.55Mn B/D
...TAL 1,485 69 1,553 +372 +26 84 1,860 *Includes Total-operated al-Jurf offshore production from Block C-137. **January 2011 production was ar...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Shahristani Eyes Extended Iraq Production Plateau Durations
...perts, realistic) revision to Iraq’s official 7-8mn b/d figure (MEES, 13 June 2011). Currently foreign operators have committed to maintaining plateau production for between seven and 13 years, with the plateau volumes to be reached by 2017. The critical Round 1 mega-developments – the 2....
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Abu Dhabi Burns More Crude And Gasoil To Meet Power Challenge
...UAE MEES Agenda Abu Dhabi Burns More Crude And Gasoil To Meet Power Challenge In 2010 Abu Dhabi, facing its growing gas squeeze, burned 3.21mn barrels of crude and 2.74mn barrels of gasoil in power stations. The amount is expected to have increased in 2011 – when peak po...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Arab Fund Chief Pledges Continued Support In Wake Of Arab Spring
...velopment banks. At its launch during the French presidency of the G8 in May 2011, the Arab Fund agreed to provide $3.2bn in grants and concessionary loans to finance public and private sector projects in Tunisia, Egypt, Morocco and Jordan in 2012-13. Arab countries in transition need to correct sh...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Libya And US Investigate Qadhafi-Era Oil Deals
...at some oil contracts “seem to have been influenced by Saif al-Islam al-Qadhafi,” referring to the former dictator’s son who is currently imprisoned awaiting trial. Eni, in its 2011 annual report (released 5 April) reveals that on 10 June 2011 it received a subpoena from the SEC for the “pr...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Oman Relies On PDO And BP To Meet Gas Challenge
...d Water Procurement Company (OPWPC) in its Seven Year Outlook published on 31 March said total peak gas demand for the main national power network will grow from 580mn cfd in 2011 to 793mn cfd in 2018. A further 78mn cfd will be needed in the city of Salalah. US independent Oxy’s demand fo...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Iran’s Inflation Hits 21.5% As Majlis Approves Budget Bill Outline
...te for the previous year 1389 ending on 20 March 2011 stood at 12.4%, after reaching a low of 8% in August 2010 (MEES, 11 April 2011). But the rate began to edge upward with the implementation of the economic reform bill in December 2010 and the gradual withdrawal of subsidies on goods and ut...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Oman’s LNG Companies In Merger Talks
...d power. In 2011 Sultan Qabus bin Sa'id ordered OOC to refocus more investment in Oman and in creating jobs. Muscat’s model is Malaysia’s Petronas, one of the most successful national oil companies (NOCs). Petronas has integrated operations and equity stakes throughout the hydrocarbons ch...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
AGOCO Production Edges Up But Bigger Plans Await Budget
...-Hariga terminal remained in rebel hands throughout the 2011 conflict, offering a lifeline crude export outlet when production restarted. Repsol Seeks Drilling Equipment Meanwhile, Spain’s Repsol is edging closer to restarting exploration drilling on its Murzuq Basin acreage. The co...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Bahrain’s BBK Stays Profitable As It Weathers Local, Global Crises
...ld Melanie Lovatt he is cautiously optimistic for 2012 and is already seeing the benefits of the commercial bank’s back-to-basics strategy. BBK’s profits slipped to BD31.79mn ($84mn) in 2011 from BD39.14mn ($103.7mn) in the previous year. But a 13.4% return on average equity is a strong pe...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Delek Confirms Interest In Greece, Israel Confident Of Trilateral Pact
...ich he considers a precondition for the development of a successful regional oil industry. Theodoros Tsakiris writes. Greece established its Exclusive Economic Zone (EEZ) with Italy in 1977 and in July 2011 demarcated its maritime boundaries with respect to Albania and Libya under Athens’s En...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Iran And Oman Developing Hormuz Gas Projects
...s al-Khaimah. Last year OOCEP started building the $480mn Musandam gas plant to process the 45mn cfd of gas (MEES, 1 April 2011), which the UAE’s Ras al-Khaimah Petroleum operates on behalf of Muscat. Any gas found in Oman’s Blocks 40 or 17 will also be processed at the plant. The blocks are op...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Kurds Warn Over Oil Payment, Kirkuk Field Rehabilitation
...ocks to ExxonMobil (MEES, 21 November 2011). Citing Article 112 of the constitution, the KRG demanded both the governorate of Kirkuk and the KRG “be present with the federal government in any discussions and agree over the Baba structure’s development.” Kurdish Peshmerga forces control parts of...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Libya Stalemate On Exploration Restart
...-'Abdaly, Chairman of NOC’s Jowfe Oil Technology spoke of the efforts to get the Oasis (Waha) export terminal of Sider back on-stream late last year (MEES, 26 December, 2011). With some of the war’s most intense fighting nearby, the terminal suffered “complete destruction of the metering system…the he...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
SEC Sees Orders Of $18Bn For Debut International Sukuk
...ternational paper last year when it mandated HSBC and Deutsche Bank to organize its first dollar-denominated sukuk issue. At the time bond specialists had suggested that it would probably take until early 2012 to prepare the issue for market (MEES, 6 June 2011). The sukuk were issued under regulation ‘S’ wh...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Greece-Cyprus-Israel Energy MOU Postponed Indefinitely
...s capacity as the foreign minister of the Constantine Mitsotakis government in 1990, visited Israel in December 2011 and reconfirmed his support for Mr Papandreou’s policy. Following a meeting with Israeli Prime Minister Benjamin Netanyahu, Mr Samaras, whose party Nea Demokratia is leading the polls ah...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
IOCs Offer Abu Dhabi CO2 Technology To Secure Oil Fields
...rub out residual oil that has migrated through rock on its way to a reservoir during the reservoir’s formation, making more oil recoverable. In the pilot scheme there was no scaling, which would have indicated dissolving of the carboniferous rocks. The 60 t/d (1.2mn cfd) pilot started in 2009 and by 2011...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012