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Tunisia: IMF $2.8bn Loan
...rticularly for the youth,” Mr Matti says. Tunisia, the first country to usher in the 2011 Arab Spring, is struggling to cope with the political and economic transition as the influx of refugees from neighboring Libya and a series of terrorist attacks have led to the collapse of the tourism industry. Oil an...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Egypt: UAE Joins Saudi In Bolstering Sisi With $4bn In Aid
...lks with the IMF and said that Egypt had recently put forward its development program and has no problem to deal with any institution on the basis of this program. For around two years after the January 2011 revolution, Egypt held intermittent talks with the IMF to obtain a loan. This did not ma...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Flaring Advances Ignite Iraq’s Gas Sector
...16 (MEES, 24 July 2015). Iraq is therefore looking beyond its borders to source additional supplies of gas. Specifically it has signed two deals with neighboring Iran to import up to 20 bcm/year of gas through two pipelines over six years. The first deal, signed in 2011, was meant to have st...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Libya Lays Out Plans For Output Hike
...ere through some maintenance. The Elephant field has capacity of 90,000-100,000 b/d.” The Sharara fields, on Blocks NC-115 and NC-186, produced up to 340,000 b/d prior to 2011, and were producing an average of 300,000 b/d in 2012, but output in 2014 averaged just 78,000 b/d, and it has been zero si...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Obama Looks To Mend Fences In Riyadh
...s not a direct attack on Saudi Arabia, but a call for a more collaborative approach to regional security. Recalling pressure for the US to intervene in Libya in 2011, Mr Obama told The Atlantic’s Jeffery Goldberg that he wants “Europeans and Gulf countries to be actively involved in the coalition.” Th...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Eni: Unlikely Libya Boost Returns North Africa To Center Stage
...ospects, located in contractual area D (MEES, 14 August 2015). The firm is responsible for gas supply to Libya’s power generation infrastructure and for gas exports via the Greenstream pipeline to Italy. Shipments last year rose to 688mn cfd, the highest level since the 2011 ouster of Mu’ammar al-Qa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Corporate Profile: OMV Looks To Iran To Re-Boot MENA Portfolio
...eitina fields it shares with US firm Occidental. At the time Libya provided almost 20% of OMV’s oil output making it the firm’s third most productive upstream province. But output collapsed to just 10,000 b/d in 2011 with the Libyan revolution. As with other producers in the country, hopes that a 2012 ou...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Imports Of Iranian Crude & Condensate Rise Strongly; But Is It Sustainable?
...• South Korea imported 243,000 b/d from Iran in March. Though this was down a touch on February’s 267,000 b/d it marked the third straight month over 200,000 b/d with first quarter imports from Iran at the highest quarterly level since Q3 2011, just before sanctions were tightened (see p21 fo...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
South Korea 1Q16 Crude Oil & Condensate Imports ‘000 B/D: Iran Volumes Double To Highest Level Since 2011
...SOUTH KOREAN CRUDE IMPORTS FROM IRAN IN 1Q16 BACK AT 2011 LEVELS FOLLOWING SANCTIONS REMOVAL (‘000 B/D)...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Kuwait Seeks More LNG, Strives To Hike Domestic Gas Output
...ns in 2011 (MEES, 8 April). Initially, LNG was considered a stop-gap solution for addressing Kuwait’s rocketing gas requirements for power generation, though it turned into a more “economic and environmental” option, KNPC CEO Muhammad al-Mutairi commented at the Fourth Kuwait Oil and Gas conference th...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Libya Unity Government Faces Huge Challenges
...rack Obama described the failure to properly prepare for the 2011 ousting of Libyan leader Colonel Mu’ammar al-Qadhafi as the greatest error of his presidency, the new Western-backed government in Tripoli faces huge challenges if it is to establish its legitimacy in the conflict-torn country. Asked in...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Saudi Comes To Egypt’s Rescue Again Signing $55bn-Plus Of Deals
...ighbors around them. Egypt as a transition state after the 2011 revolution is in need of all the financial and economic assistance that Saudi Arabia can afford to help in reviving its ailing economy. As collated from various sources, Egypt has signed agreements and MoUs worth some $55bn, although a co...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
New Adnoc Supremo Commits To 3.5mn b/d Output Target Amid Leadership Shakeup
...d gas sector, with the first major reshuffle of Abu Dhabi’s most senior oil and gas decision making body, the Supreme Petroleum Council (SPC), since 2011. The ruler of Abu Dhabi, UAE President Khalifa bin Zayid al-Nahyan, announced the reshuffle by decree on 28 March. The shakeup brings seven new fa...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Mid-East LNG Demand‘A Driving Force’ In 2015
...NS)… vs 2014 2011 2012 2013 2014 2015 mn t % NORTH AFRICA 18...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
OPEC Output Falls Ahead Of Meeting As UAE Outage Outweighs Iran Gains
...ghest since 2011 (MEES, 25 March). But the increases were relatively small in nature. The most important development is the 6mn barrels of Iranian crude sold last month (around 200,000 b/d) which has arrived, or is set to arrive in EU ports imminently. To date the only post-sanctions European buyers of...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Petroceltic: Worldview Or Bust
...bsidiary Dragon Oil tried to buy the firm for $800mn (MEES, 10 October 2014). It was downhill from there. Worldview, which has steadily built a stake since 2011, in January 2015 lambasted Petroceltic CEO Brian O’Cathain's board for “failures… including the failed offer by Dragon Oil (MEES, 16 January 20...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...nce 2011, when the Karan field came online and reached its 1.8bn cfd production capacity in late 2012. Karan was the first non-associated gas field to be developed in Saudi Arabia (MEES, 4 June 2012). An expansion of the Hasbah field is to provide a further 2bn cfd of raw gas to the Fadhili pr...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Israeli Court Ruling Pushes Leviathan Back Further
...de in the past seven years, caught Israel off guard, forcing lawmakers to scramble to put a regulatory framework together ensuring both that enough gas was piped to Israel and that the country could benefit from exporting its natural wealth. In 2011 the Sheshinski Committee passed regulations on new oi...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
More Aid For Jordan, Lebanon And Tunisia
...Lebanon and Jordan were this week promised new loans totaling $573mn to help them cope with the cost of hosting Syrian refugees who have fled their country since the start of the civil war in 2011. Lebanon has signed five loan agreements for $373mn with the Islamic Development Bank (IDB) to...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016