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Qatar Petroleum JV Looking To Export US Shale Gas As LNG
...an to build a 15.6mn tons/year capacity LNG export facility adjacent to its existing Golden Pass LNG receiving terminal. Nick Wilson writes. The Golden Pass receiving terminal was opened in 2011 to import up to 15.6mn t/y of LNG from Qatar. The Golden Pass Products joint venture (QP 70%, Ex...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Cyprus Seeks Short Term Gas Deal With Israel
...cember 2011, can be developed to supply the island. Cyprus is keen to arrange an interim solution to its urgent natural gas needs as soon as possible. It currently has the highest electricity charges among European Union (EU) member states as it relies entirely upon heavy fuel oil and diesel for power ge...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Mauritania Looks To Offshore Gas To Fuel Its Energy Future
...kely near term option, with development plans envisaging tying back crude production to the Chinguetti FPSO (the 1.6mn barrels capacity Berge Helene). Chinguetti is 80km offshore in 900ms of water. Tullow in October 2011 received 18-month extensions for the portions of its PSC A and PSC B li...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Libyan Upstream Activity Picks Up
...latively minor work but collectively they signal that widescale maintenance is now underway. Other tenders are for exploration (see Table 2). AGOCO has been busiest of all. Although most of Libya’s oil infrastructure escaped 2011’s fighting unscathed, AGOCO’s key Sarir and Mesla fields on Block NC-65 (Area 12...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Oil Roils Kurdish Politics
...gitimate authority in Iraq.’ Ankara gets to have its cake and eat it. And the Kurds, as usual, get left with nothing.” There is little doubt the recent years of KDP rule have brought substantial economic benefit, but there are rising concerns over corruption (MEES, 21 November 2011). In the wake of...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
US Continues Iran Clamp-Down, As Standard Chartered Pays Penalty
...isse; $88.3mn by JP Morgan Chase (Iranian as well as Cuban violations) in August 2011; and $350mn by Lloyd’s. Also, $176mn from Barclays in August 2010. OFAC said on 14 June that National Bank of Abu Dhabi agreed to remit $855,000 to settle potential civil liability for 45 transactions that appear to ha...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Suez Crude Shipments Soar But Other Traffic Down
...aders over export prices (MEES, 16 July). Figures 1 And 2: Suez Canal Crude And Petroleum Shipments, January 2011 – July 2012 Fuel Oil To Japan If oil product flows are also factored in, then southbound petroleum volumes topped those in the other direction for se...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
IEA Sees Oil Demand Growth Below 1Mn B/D For 2012, 2013
...EC crude oil supply grew by 200,000 b/d during July from June and by 500,000 b/d compared to July 2011. Non-OPEC supplies are expected to grow by 400,000 b/d in 2012 and by 700,000 b/d in 2013, unchanged from previous assessment. Total OECD industry stocks fell counter-seasonally by 5.5mn ba...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Iranian Output Buckles Under Sanctions Strain, But Iraq Takes Up Slack
...thballed fields. OPEC Crude Oil Production July 2011 – July 2012 (MEES Estimates – ‘000 B/D) 2012 2011 Jul Jun May Ap...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
Egypt’s New Petroleum Minister Looks To Foreign Firms To Solve Gas Shortage
...e two preceding months. Reserves have collapsed from $36bn at the start of 2011. Strategic Reserve Egypt also plans to create a strategic petroleum reserve that will cover 7-10 days of national petroleum products demand, with the country’s cabinet set to meet to discuss this over the co...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
Challenges Remain For Sudans Despite North-South Oil Deal
...ve been producing closer to 300,000 b/d at the turn of the year. South Sudan’s Unity And Upper Nile States Source: MEES. The division of oil revenues was one of the key issues left unresolved when the South broke away from Sudan in July 2011, taking with it ar...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
KRG/Baghdad Oil Dispute At Crisis Point
...uld make it or break it. Rafiq Latta reports. Baghdad’s ban on investments in the Kurdish upstream managed to deter majors from investing until ExxonMobil defied the federal Ministry of Oil to take six KRG blocks last October (MEES, 21 November 2011). At that time the Kurds and their su...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Egypt Unveils Its 2012-13 Budget Amid Political And Economic Uncertainties
...d a half after the overthrow of the Husni Mubarak regime in January 2011. Egypt has suffered perennially from a number of structural economic problems which are unlikely to be resolved in the short or medium term by the new political system in the country. President Muhammad Mursi, the first de...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Algerian Gas Set For Boost From 3.7 BCM/Y Petroceltic Development
...velopment strategy” and that a second farm-out “has the potential to remove funding uncertainty from the project’s development.” It adds that with 2011’s six-well appraisal drilling program having almost doubled mid ‘gas in place’ estimates to over 10 tcf since the Enel deal was struck, a second sale is li...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Rebels Sweep To Power As New Era Dawns For Libya
...mpaign, more needs to be done to stimulate exploration interest. Foreign Oil Investors In Libya On Eve Of 2011 Civil War Company Basin Field/Area Blocks Partners /stake Start date Estimated Crude Production Ca...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
EU Sanctions On Syrian Petroleum Sector More Painful Than Those Of The US
...rt some European companies with production sharing interests in Syria. Syrian oil production in the first half of 2011 averaged 387,250 b/d according to official statistics (MEES, 8 August). Of this about 154,000 b/d were exported in the first half of 2011, mainly to European countries (Germany, Fr...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
New Megabank Targets Gaps In Islamic Banking Sector
...of Istikhlaf, which was also to have been established in 2009. “In 2009 we were hit by the crisis and then 2010 looked a good time to set it up, but then countries like Greece started having problems. Then in 2011 Arab countries had their issues, but now it’s stabilizing,” said Mr Yousif. Is...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Electricity Price Freeze Hinders Dubai’s Energy Plan
...e amount of carbon dioxide of US citizens. DEWA has said it expects Dubai’s energy demand to rise 6-7% in 2011 over last year. Consultant Sought To get a grip on Dubai’s energy usage Mr Tayir said: “In line with the strategy of Dubai’s Supreme Council of Energy regarding energy demand ma...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Kurdish Upstream Sector Hots Up
...-Jul-11 4,800 b/d† Bought into Komet block July 11 Aspect Energy Atrush Marathon, ShaMaran 12-Nov-07 discovery 2011. Ar...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Shell Offers LNG To Bahrain At Near Oil Price Parity
...anned regasification plant and import terminal. NOGA was also expected to take the FID for Sitra refinery at the end of 2011, but this may be delayed to the first quarter of 2012 so it can be taken at the same time as the LNG project’s FID – and those for the industrial projects would follow. Si...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011