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Iran Budgets For $100/B
...IRAN Iran Budgets For $100/B Iran’s draft budget for the Iranian year 1393, starting on 21 March 2014, will be based on an oil price assumption of $100/B, a member of the Majlis Budget and Planning Commission Hadi Qavami told the Iranian Students News Agency (ISNA) on 1 De...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
The MENA Power Sector: Prospects And Challenges
...ticle concentrates on these challenges. Challenge #1: Electricity Demand Growth MENA power demand is growing at 6-8 % annually. Growth has been at such rates for decades and this is likely to continue. Regional development bank APICORP expects capacity to increase at 8.4% annually over 2014-18 (ME...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Baghdad Offers Guarantees For Export Pipeline Mega-Project
...ncedes it “is a very challenging schedule,” but he argues “if we get [financial completion] sometime in the first half of 2014, it will be still effective.” Given a 36-month construction project, this should see start-up in mid-2017. He declined to comment on any investment costs or fee arrangements with Jo...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Abu Dhabi’s 3.5Mn B/D Target Slips To 2019
...l Operations (ADCO) consortium – ADNOC 60%, BP 9.5%, ExxonMobil 9.5%, Total 9.5%, Shell 9.5% and Partex 2% – whose concession to run the emirate’s major onshore oil fields expires on 11 January 2014, will continue after this date. ADNOC senior management has made contradictory public statements and ha...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
KRG Investors Plough On Despite Rising Tensions
...[the Chevron-operated giant] Tengiz.” The KRG is pinning its hopes on opening up an independent export route, which will need support from Turkey. There are two potential pipeline projects that could impact developments by early 2014. Firstly Anglo-Turkish Genel Energy is planning an in...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Northern Morocco Joins Farm-Out Fever
...rmit from early 2013 to be followed by the anticipated drilling of “at least three” exploration wells from early 2014. Seismic is also planned for the neighboring Taounate permits in 2013. Gulfsands notes that the acreage immediately to the west of the Fes permit, now operated by Triangle Energy (see be...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
UAE Signs Nuclear Deal With Russia
...ntract between Emirates Nuclear Energy Corporation (ENEC) and Russia’s Tenex for the UAE’s first nuclear power plant at Barakah. In August ENEC awarded nuclear fuel contracts worth a combined $3bn to six international firms. Beginning in 2014-15, Canada’s Uranium One and UK’s Rio Tinto will provide na...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Petchem Firms Face Saudi Ethane Supply Restrictions
...oject is a dual‐feed cracker which will produce 1.5mn t/y of ethylene and 400,000 t/y of propylene. Sadara, however, scheduled for a 2014 startup, is unlikely to be on stream before 2016 – it has not yet started building the cracker, which will take three years. Saudi Aramco CEO Khalid al-Fa...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SABIC Strategy Tracks Demographic Trends
...heduled to be completed in the fourth quarter of 2014. It will produce a variety of ABS grades for the automotive and electrical appliance industries (MEES, 18 June). Outside the kingdom, SABIC is focusing on joint projects in China. A joint venture between SABIC and Chinese state firm Si...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
PTT Extends Algerian Finds
...dding, comprises Blocs 443a, 424a, 414xt and 415ex around 100km south east of the Bir Seba field, PTT’s other Algerian upstream interest. Production from Bir Seba and the nearby Mouiat Oulad Messaoud field on Blocks 433a and 416b is slated for start-up at 20,000 b/d in the first half of 2014...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SWCC Awards Yanbu’ 3 Power Plant As Capacity Expansion Takes Shape
...at 55% of work had been done on the Ras al-Zour power and desalination project, for which contracts worth a combined SR15.7bn ($4.2bn) were awarded in November 2010. He said that electricity generation at Ras al-Zour was scheduled to start in April 2013, while desalination would begin in 2014. The Ra...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Eni Returns To Libyan Exploration Drilling
...cilities (MEES, 14 September). Unlike the bulk of foreign producers in Libya who have put any possible expansion plans onto the back burner, Eni has made Libyan expansion a key part of its international production targets. First additional production could come as soon as 2014. Although some other fo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Aramco Prepares To Enter Saudi Power Market
...ll scale procurement of up to 3gw. “KACARE recognizes that first projects will be pioneers – the objective is quality, utility-scale plants, rather than a fixed megawatt target,” he said. The next two phases – bidding for the first round will start in 2014 – could take the total to 6....
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Qatar Launches Solar Program To Conserve North Field
...to its depletion is completed in 2014. Furthermore, Qatar faces a 10% drop in its associated gas production as crude output falls. Doha also has another interest in renewables – economic diversification. The Qatar Foundation’s joint venture Qatar Solar Technologies (QSTec), is building a $1b...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Iran’s NDF Holds $43Bn In Reserves
...978bn in March 2013 and $1.713bn in March 2014. At the end of the first half of 1390, Iran had a trade balance surplus of $36.409bn and the value of its oil and gas exports stood at $63.849bn, the CBI said. ...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Outlook Hazy For MENA Project Financing
...velopment following its achieving of a targeted 77mn tons/year LNG production capacity. Until the moratorium is lifted, which will not be until at least 2014, further projects will be concentrated downstream. Qatar Vinyl Company is seeking an adviser on its expansion project. Qatar has embarked on an un...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...bekistan’s state firm Uzbekneftegaz for the export of 25 bcm/year of gas to China through a planned third branch of the system. The third line is scheduled to be commissioned in 2014. Construction will be funded through direct investment by PetroChina’s parent firm China National Petroleum Corporation (CN...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...5bn of this aid, which could be very timely in helping the kingdom’s growth in the next few years. The deficit (after grants) in 2012 will represent 4.6% of GDP, down from 6.2% in 2011, the minister pointed out. It is expected to fall further to 4% in 2013 and 3.5% in 2014. The kingdom’s pu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar Awards $233Mn Power Deal To South Korea’s Hyosung
...oup, to construct eight electricity substations in Qatar by the start of 2014. “The contract was signed in November this year, and is hoped to be completed by January 2014,” a company spokesman told MEES. Under the terms of the $233mn deal signed with Qatar General Electricity and Water Co...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar’s Barzan Becomes World’s Largest 2011 Project Financing
...d and Phase 3 another 2.5bn cfd. Start-up is earmarked for 2014 and it is expected to ramp up to produce at least 100,000 b/d of condensate as well as 1.4bn cfd of gas. The main engineering procurement and construction (EPC) contractors are Japan’s JGC (onshore) and South Korea’s Hyundai Heavy In...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011