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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 -
CGES Sees Crude Prices Rising As Buyers ‘Prepared To Pay A Premium’
...r prompt oil.” Global crude inventories fell sharply in 2011 and have only been partially rebuilt during the first half of this year, CGES said, adding that market tightness has been “exacerbated by the dislocations caused by the sanctions on Iran.” It said that “delays in getting the ri...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
China’s Crude Oil Imports Rise In July, Iran Supply Down Sharply
...ina Crude Oil Imports 2011-12 2012 2011 Imports Jul Jun May Apr Mar Fe...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
KMG EP Reports Output Down In First Half, Begins Modernization
...SPIAN KMG EP Reports Output Down In First Half, Begins Modernization Kazakhstan’s KazMunaiGas Exploration Production (KMG EP) reported on 14 August that in the first half of 2012 it produced 6.057mn tons of crude oil (248,000 b/d), which is 4% less than in the same period of 2011. The decline was ma...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Egypt’s Finance Ministry Loans EGPC $600Mn
...ise the total amount of loans extended to EGPC since 2010-11 to $5.75bn, in addition to financial guarantees from the ministry to the oil sector in 2011-12. EGPC is also said to be seeking to borrow from Arab lending organizations $600mn to ease the liquidity crisis from which the corporation is cu...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iraq Denies It Is Helping Iran Avoid International Sanctions
...ayer in Iraq and the government of Prime Minister Nuri al-Maliki, especially after the withdrawal of the US army from Iraq in December 2011. Tehran is one on Iraq’s main trading partners and has plans to boost the volume of bilateral trade between the two countries from the current estimate of $11...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iran Plans 1.5GW Hydropower Capacity Addition This Year
...zazadeh said that the 1.5gw of capacity due on-line this year comprises six new units: two at the Gotvand Dam hydropower plant and four at the Siah Bisheh plant. Iran’s total power generation capacity is estimated at 53gw (MEES, 23 May 2011). ...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Russia Consolidates Its Position In Iraq Upstream Petroleum
...rmed a new consortium with KMG in October 2010, leading to winning 'Akkaz gas field with a remuneration fee of $5.50/boe. And after the withdrawal of KMG due to the delay in concluding the contract, Kogas took full control of the deal on its own in June 2011. So, for the PetroVietnam/Premier Oi...
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 $855,000 to settle potential civil liability for 45 transactions that appear to ha...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Suez Crude Shipments Soar But Other Traffic Down
...aders over export prices (MEES, 16 July). Figures 1 And 2: Suez Canal Crude And Petroleum Shipments, January 2011 – July 2012 Fuel Oil To Japan If oil product flows are also factored in, then southbound petroleum volumes topped those in the other direction for se...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
IEA Sees Oil Demand Growth Below 1Mn B/D For 2012, 2013
...EC crude oil supply grew by 200,000 b/d during July from June and by 500,000 b/d compared to July 2011. Non-OPEC supplies are expected to grow by 400,000 b/d in 2012 and by 700,000 b/d in 2013, unchanged from previous assessment. Total OECD industry stocks fell counter-seasonally by 5.5mn ba...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Crude Oil Formulas/Posted Prices ($/B)
...L PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2012 2011 Jul Jun May Ap...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Cyprus Tenders To Import Natural Gas For Domestic Power
...interest to supply gas. The move will be an interim solution until the gas resource discovered in the offshore Block 12 can be brought to shore via an underwater pipeline. US firm Noble Energy discovered 5-8 trillion cu ft of natural gas in the Aphrodite field in December 2011 and is currently in ta...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Baghdad Looks To Expand Kirkuk Field
...ES, 19 September 2011). Northern Iraq also hosts three of the field development projects awarded to foreign oil companies. There are three drilling rigs now active at the 170,000 b/d Gazprom-led Badra project. And Iraq remains optimistic that first phase production of 40,000 b/d by 2013 can be...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Arab Bank Chairman Quits After Long Running Power Struggle With CEO
...riri. He personally owns shares in Arab Bank and as of 31 December 2011, Hariri family-controlled companies Saudi Oger and Oger Middle East Holdings held 9.6% and 7.1% respectively. Over the last several years the Shoman family had sold stakes in the bank to both the Hariri family and Jordan’s Social Se...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Jordan’s Energy Ministry Shortlists Companies For AOT Project
...nsumption of crude at about 6mn tons (120,000 b/d) in 2011, of which 2.5mn barrels/month (82,000 b/d) are imported from Saudi Arabia at international prices, and 10,000 b/d is supplied from Iraq at preferential prices (reported to be at a discount of $18/B off the international price). Supplies of Iraqi cr...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012