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Baghdad-Erbil Refining Deal Signals Pragmatism Winning Out
...yala provinces, most likely crossing into Iran around Naft Shah. This is where a 10bcm/year gas pipeline from Iran to power stations supplying Baghdad is meant to cross into Iraq. The deal was signed in 2011 but the project has stalled due to security concerns in Diyala province. Despite recent mi...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Algeria Looks To Build On Modest Output Gains But Investors Remain Wary
...uthwest have been significantly delayed. A consortium of Spain’s Repsol, Sonatrach, Germany’s RWE Dea and Italy’s Edison waited more than two years before finally being given the green light to develop the Reggane North field on Blocks 351c and 352c in the Reggane Basin in November 2011. The project was or...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Tunisia: Oil & Gas Slump, Tourism Collapse – Bonds To The Rescue?
...achieving a total of $2.85bn in external financing including $550mn via a sukuk. Tunisia’s economy has struggled since the 2011 Arab Spring. More democracy has meant more instability and a rise of Islamic extremism, with the key tourism and energy sectors badly hit. Tourism is a pillar of th...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Egypt’s Economy: Looking Shaky Despite Cash Inflows
...nth earlier, the highest level since 2011 (see chart). The central bank says post-devaluation some $11.7bn of foreign currency has flowed into Egyptian banks as well as investment in the local stock market and treasury bills, boosting forex reserves to six months’ import cover. The pound has edged hi...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Shell Sees Qatar’s Pearl GTL Plant Offline For ‘A Couple Of Months’
...jacent 120,000 b/d NGLs and ethane plant take around 1.6bn cfd of gas from Qatar’s giant North Field. The combined GTL/liquids project reached full commercial production at end-2012, following start-up of the first GTL train in early 2011 and the first commercial cargo of gasoil in June 2011. The co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Opec Cuts 860,000 B/D Output, More Work Required
...35mn b/d, this would imply Iraq plans to cut to 4.57mn b/d – a figure MEES calculates it is currently producing below. OPEC^ 2016 OIL EXPORT REVENUES FALL $760BN FROM 2012 PEAK ($BN) 2010 2011...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
NOC Charm Offensive To Encourage Resumption Of Investment
...bruary, reach 1mn b/d in April, 1.1mn b/d in June and 1.2mn b/d by August, says Mr Sanalla. The NOC chairman’s London presentation was part of a wider charm offensive to attract renewed investment to an oil territory where some IOCs have not operated since early 2011 and others abandoned work after a br...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Glencore Extends Libya Crude Purchase Deal
...). The Tripoli government is carrying out the most wide-ranging investigation into corruption in the oil sector since 2011, said Attorney General Sadia Al Sour on 26 January. Investigations into smuggling of crude products to Malta, Cyprus and Greece are under particular scrutiny, he said. Tripoli NO...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
OMV Expands in Libya With Purchase Of Oxy Zueitina Stake
...CIDENTAL BLOCKS OXY DIVESTMENT STRATEGY Oxy’s Libya sell-off was long expected. In theory it still has extensive exploration interests in Libya (see map). When civil war broke out in early 2011 it had been on the verge of kicking off a 22-well exploration campaign. As recently as July 2012 the co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Libya Plans Tobruk Power Plant, Revives Stalled Ubari Project
...2011 after the ouster of former dictator Mu’ammar al-Qadhafi. The Ubari project – another nominally gas fired plant that will initially burn oil since no current gas supply infrastructure exists – will comprise four Siemens 160MW turbine-generators. The Libya Herald newspaper says the project is...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017