- Sort by:
- Score
- Published ▼
-
Sonatrach Plans 70% Hike In Refining Capacity
...pacity as booming domestic gasoline and diesel consumption has left the country’s refiners unable to keep up. Algeria imported a record $2bn of refined products in 2011, with a similar level of imports forecast for 2012....
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Egypt Expects To Finalize $3.2Bn IMF Loan In March
...sign the agreement for the loan, which will be disbursed in three tranches. The loan has been under discussion with the IMF since July 2011 and the Egyptian authorities have yet to agree to the IMF terms. Speaking on 23 February Gerry Rice, the IMF's External Relations Director, said that “we do...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Apache Diversifies Away From Egyptian Instability
...eve Farris said, in a presentation marking the release of the firm’s 2011 results, that Apache’s “perceived overexposure” to Egypt (as well as to the Gulf of Mexico where a drilling moratorium in the wake of BP’s 2010 spill also hit Apache’s figures) has “caused concern,” despite record oil prices li...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
European Dependence On Iran Oil Decreases, Tehran Embargoes UK And France
...ly 2012. Iran’s decision with respect to the UK and France has little actual impact, since the UK had not imported Iranian crude since February 2010 and France’s Total, which is estimated to have imported around 58,000 b/d in December 2011, had stopped importing Iranian oil even before 23 Ja...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
IEC Confirms 15-Year Gas Supply Deal With Tamar Partners
...ported on 20 February, adding that some changes had been made to the original agreement that had been approved in principle last December (MEES, 26 December 2011). Under the terms of this latest agreement, IEC after the start of supply in 2013 will have two opportunities – after eight years and after 11 ye...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
EU Assistance To Jordan To Top €3Bn Over Next Three Years
...therine Ashton announced on 22 February at the end of the first meeting of the EU-Jordan Task Force. Detailing this assistance, Ms Ashton noted that the amount allocated to Jordan from the EU budget for 2011-13 has been increased by an additional €70mn to rise to almost €300mn. Also, the European In...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
IMF Warns That Lebanon Faces Political And Economic Challenges
...LEBANON IMF Warns That Lebanon Faces Political And Economic Challenges Lebanon’s economy lost momentum in 2011 after four years of impressive economic growth as a result of internal political bickering after the collapse of the coalition government in January 2011 and regional unrest, th...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
BP Sees North Africa As Key Exploration Area
...REGIONAL BP Sees North Africa As Key Exploration Area Oil major BP, in its 2011 results and strategy presentation delivered 7 February, labeled “offshore North Africa” as one of the company’s four key global exploration areas, all of which are offshore. The company has taken the bold de...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Saudi Aramco And Pertamina Sign MOU For 300,000 B/D Java Refinery
...gineering packages are in the process of getting awarded (MEES, 1 August 2011). But an official green light for a major expansion at Petro Rabigh is still being delayed. A final investment decision (FID) was originally to have been made in late 2010/early 2011, to allow for start-up in 2014. But partner Su...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
China And South Sudan To Hold ‘Clear The Air’ Talks After Petrodar Chief’s Expulsion
...ighbor have been locked in a bitter dispute over oil revenues ever since November last year, when Juba accused the North of stealing its oil – something Juba now insists Mr Liu was involved in (MEES, 5 December 2011). Speaking to reporters, Mr Benjamin said that a recent government investigation had fo...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Trafigura Gets Green Light To Unload Disputed Sudanese Oil
...dependence 470,000 b/d crude output (MEES, 7 November 2011). Due to a lack of its own export infrastructure however, it is still forced to depend on the North to use the only existing pipeline to the Red Sea outlet of Port Sudan. While there have already been several rounds of talks between the two sides to re...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Dragon Records 68% Jump In Profits For 2011, Maintains Push To Diversify
...UAE Dragon Records 68% Jump In Profits For 2011, Maintains Push To Diversify Dubai-based Dragon Oil announced on 21 February a 68% rise in its profits for 2011 relative to the previous year, due for the most part to a production ramp-up at its oil field offshore Turkmenistan, and a hi...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Total Restarts Block 10 Oil Production As Masila Strike Ends
...ock 14 was cut earlier this month after more than 1,000 PetroMasila employees working on the block went on strike on 9 February over claims that the government had not paid them their due end-of-service allowances following the pull-out of Canada’s Nexen from the block in December (MEES, 28 November 2011...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Sonatrach Looks To Move On With Spending Boost
...l prices. Sonatrach CEO ʹAbd al-Hamid Zerguine, presenting the company’s provisional 2011 results and plans for 2012-16, said the company’s total investment in the Algerian oil and gas sector will rise sharply to $15.8bn for 2012, from $12bn for 2011. Domestic production has stagnated in recent ye...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Reggane Nord Development To Cost $3Bn, Mid-2016 Start-Up Targeted
...vember 2011, following extensive delays due to turmoil in Algeria’s state oil hierarchy (MEES, 1 February 2010). The project includes the construction of a gas treatment plant, a gas accumulation system and a pipeline which would connect the development with southern extremity of Algeria’s current 48...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Talisman Sees Algeria Revenue Surge
...ALGERIA Talisman Sees Algeria Revenue Surge Canadian independent Talisman saw its 2011 Algerian revenue soar 32% to $256mn on the back of higher oil prices as well as an 8% production increase. Production of 15,100 b/d is 8.5% of the company’s total global liquids production. Pr...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Shah Deniz 2 Gas Supply Decision Likely To Be Taken In Stages
...rope beginning in late 2017 (MEES, 19 December 2011). The situation has been exacerbated by the announcements of a proposed Trans Anatolian Pipeline (TANAP) as an alternative to Nabucco’s cross-Turkey section and also a plan to expand Turkey’s Natural Gas Transmission System (NGTS). However, Socar CEO Ro...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
EU Brushes Off Iran Oil Rhetoric
...newal of last year’s contract, which called for the supply of some 220,000 b/d of crude and 60,000 b/d of condensates. These volumes represented around half of China’s total imports from Iran in 2011. Mehr News Agency reported on 15 February that a senior Iranian official had travelled to Beijing ea...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Iran’s Inflation Edges Up To 21% In January
...te for December was estimated at 26% by the Statistical Center of Iran (MEES, 12 December 2011). Independent economists put the real inflation rate at much higher levels. Also, with the recent sharp fluctuations/falls in the value of the Iranian rial against the dollar and other foreign cu...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
CBK Governor Resigns Over Kuwait’s Expansionary Fiscal Policy
...rliamentary elections. Kuwait Records $40Bn Budget Surplus Till December 2011 Kuwait has in the past years projected budget deficits by understating its revenues and overstating its expenditure. But this has failed to materialize and Kuwait instead ends up with a substantial surplus. In the first ni...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012