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Turkey Calls For Russian Input In Gas Storage Program
...nister, Taner Yildiz. Speaking on 8 December, he said that by 2019 Turkey plans to construct five to six new underground facilities which can hold 8 bcm, equivalent to almost 18% of 2011’s domestic demand. Turkey’s gas demand has jumped by almost 50% since 2006, driven primarily by its use as a fuel for el...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
RWE Exit Deals Blow To Nabucco West
...bring additional long-term gas transit streams to Germany, adding that the project no longer served this purpose because major gas supplies “could no longer be guaranteed.” RWE was gravely hit by Germany’s decision, following Japan’s March 2011 Fukushima accident, to phase out its en...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Warship Arrivals Renew Iran Ties With Sudan
...06 2007 2008 2009 2010 2011 2012 2013 24 24.9 24...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Iran’s Subsidy Reform: RIP
...ants to individual consumers on the basis of need was found impractical, and everyone in a family was given the same amount of cash (MEES, 20 June 2011). Unhappy about the government’s undue haste in raising prices much faster than provided for in the law, dissatisfied with uniform mo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
IIF Projects 3.5% Drop In Iran’s GDP In 2012
...IRAN IIF Projects 3.5% Drop In Iran’s GDP In 2012 Iran’s GDP in 2012 is expected to shrink by 3.5% from a positive growth of 1.2% in 2011, the Washington-based Institute of International Finance (IIF) has said in a report on the MENA region. The IIF noted that we...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Politics Threatens To Bust Kurdish Oil Investment Boom
...xt? Every province will want to do the same thing. Imagine Basra? You know it would then be Game Over.” KRG Oil Production Profile (‘000 b/d) Block/Field Operator 2011 Average Production Cu...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Eni Returns To Libyan Exploration Drilling
...s been eager to tout its commitment to Libya post-revolution. It was the first international company to resume production in Libya in September 2011 (at Bu Attifel), the first to lift force majeure in December 2011 and the first to resume offshore exploration activities in February 2012. The latter wa...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Output Ratchets Up Ahead Of Vienna Meeting
...mpares with 9.3mn b/d in 2011, when Riyadh stepped in to compensate for lost Libyan production, and 8.5mn b/d in 2010. But Iraq has been the biggest beneficiary of lost Iranian market share on the back of US and EU sanctions (MEES, 30 November). Iraqi output in November notched up an eighth successive mo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Crude Official Selling Prices, Benchmark Crude Prices & Official Iraqi Oil & Gas Data
...46 Benchmark Crude Prices* 06 Dec 26-30 Nov 19-23 Nov Nov Oct Q3 2012 Q2 2012 2011...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Yemen Launches Offensive Against Pipeline Saboteurs
...d gas installations have been the target of choice for tribal and Islamic militants since anti-government protests created a power vacuum in early 2011. The militants are thought to be using such acts of sabotage to pressure the government into both distributing handouts and releasing a number of tr...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Weak Global Economy Continues To Weigh On Saudi Petchems
...mmercial operations for most of its plants in October 2011. In August this year it began commercial operations at its amines plant, and at the end of September announced that it had started trial operations at its low density polyethylene plant. Yansab, which is 51% owned by SABIC, said that the 10...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
MENA Refinery/Petchem Expansion Plans Moving Ahead
...erated 40,000 b/d Irbil refinery and a major upgrade to the 34,000 b/d Bazian refinery. The first 20,000 b/d addition to Irbil should be on stream by the beginning of next year, slightly behind the original schedule (MEES, 24 October 2011), to be followed by a second 20,000 b/d unit within a couple of mo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Qatar Launches Solar Program To Conserve North Field
...lar plants, as its much-vaunted Masdar clean energy initiative stalls. Doha wants to conserve its gas reserves in the North Field, which faces complex challenges, including pressure drops (MEES, 12 December 2011). Qatar is unlikely to end the moratorium on further development when the study in...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Eni Rocked By Algeria Corruption Probe
...June 2011). The Iraqi part of the investigations relates to Eni’s contract to spend $18bn raising production at the giant Zubair field from the current 270,000 b/d to 1.2mn b/d by 2017 (though there is likely to be some slippage on both volumes and date). Eni has maintained a code of si...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Damascus Fighting Strains Syria’s Frail Economy
...ovide the necessary services and utilities for its own people. Last week Damascus faced the worst power cuts since the beginning of the revolt in March 2011, with reported outages of seven to nine hours per day. Officials from the ministry of electricity have blamed the power shortages on “sa...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Iran’s NDF Holds $43Bn In Reserves
...mpany (IOOC) with $1.5bn through to August 2013 to help it boost production by 175,000 b/d (MEES, 23 November). NDF was established in 2011 under the aegis of the fifth five-year development plan (2010-15) with the aim of transforming oil and gas revenue into productive investments for future ge...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
EBRD Makes Initial Egyptian Investment
...2011’s political upheavals with the aim of kick-starting post Arab Spring investment (MEES, 28 May). In September the EBRD announced its first investments in in Tunisia, Jordan and Morocco as part of plans to allocate €200mn by the end of 2012. Regional investments are slated to climb to as...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Saudi Arabia Plans To Open Stocks To Foreign Investment
...vestment. There were reports late in 2010 that foreigners would be let in as early as the first half of 2011, but at the time analysts said that it would take much longer to complete the studies and develop a plan. “I think the timing will be influenced by market conditions. They won’t want to do it if th...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Outlook Hazy For MENA Project Financing
...Middle East Economic Survey VOL. LIV No 52 26-Dec-2011 MEES Agenda Outlook Hazy For MENA Project Financing With the global financial crisis in the rearview mirror, hopes had been high that 2011 would be an even better year for the financing of MENA energy projects than 20...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
OPEC Finds ‘Unity Of Purpose’ In Vienna, Says CGES
...ming months.” CGES Global Supply/Demand Balance (Mn B/D) 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 2010 2011 2012 World Oil Demand 88.8 89.3 89.0 87.7 89.4 90...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011