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OPEC Cautiously Optimistic On 2014 Demand And Price Prospects
...OPEC OPEC Cautiously Optimistic On 2014 Demand And Price Prospects OPEC’s key medium term challenge is to keep its head above water for the next decade. Over these 10 years it will have to manage production increases from within its own ranks and continued growth in non-OP...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
DNO Grows In Tunisia
...cently as 2010, and gas output of around 280mn cfd also well down, Tunis is keen to maintain the momentum of an exploration drive. Muhammad Akrout, chief executive of state oil company Entreprise Tunisienne d’Activites Petrolieres (ETAP), told MEES last October that 15 wells would be drilled in 2014. An eq...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Kufpec Scales Up Ambitions With Shell LNG Buyout, RWE-Dea Bid
...ntracts totaling 4.2mn t/y – or roughly half of future liquefaction capacity. Still, it is unclear what terms Wheatstone could offer KPC unavailable to the Kuwaiti NOC on the open market. For its part, Shell is set for a $15bn divestment program in 2014 and 2015. Incoming CEO Ben van Beurden says Sh...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Baghdad Piles Financial Pressure On KRG
...IRAQ Baghdad Piles Financial Pressure On KRG Iraq cannot finance its projected 2014 deficit unless the KRG settles its arrears to the federal treasury, warns Haidar al-‘Abadi, head of the Iraqi parliament’s Finance Committee. Mr ‘Abadi says that unless the Kurdistan Re...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
UAE Funds Renewables In Africa, Pacific
...valu and Vanuatu under ADFD grants, with project completion expected in late 2014. Masdar also signed framework agreements with the European Investment Bank for clean energy projects in the MENA region and with Portuguese utility EDP for large-scale renewables projects in Latin America, Africa, the Mi...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Yemen: 2014 Budget Looks To Patch Holes In Violence-Fueled Revenue Slump
...YEMEN Yemen: 2014 Budget Looks To Patch Holes In Violence-Fueled Revenue Slump Simmering violence through much of the country and growing secessionist movement in the south, coupled with frequent attacks on oil and gas pipelines, power lines and other infrastructure, have ta...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
ILO Report Offers Stark MENA Outlook
...ILO Report Offers Stark MENA Outlook The International Labor Organization’s 2014 ‘Global Employment Trends’ report, released this week, is bleak reading for MENA. North Africa is the worst preforming region globally on a whole range of metrics; the Middle East isn’t far behind. MEES cr...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Aramco Awards Bring Forward Shaybah 1Mn B/D Target To 2016
...crement Project is part of the ongoing Shaybah NGL Recovery Program mega-development – intended to process 4bn cfd of gas to produce 240,000 b/d of ethane (MEES, 4 June 2012). This includes nine other major contracts that are under way, to be completed by the end of 2014, Aramco says. While the Sh...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Kurdish Oil Heads North But Not Yet To Sea
...G capital Erbil. Repsol has conducted a significant 2D seismic acquisition program which identified a number of drilling targets. Drilling operations began on the Zewe-1 exploration well in November 2013 and drilling in Qala Dze is expected in the early part of 2014, Maersk says. The Danish co...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Refiners Plan ‘Too Much CDU Capacity, Not Enough Conversion
...be delayed until [the planned giant 615,000 b/d] Al-Zour is completed,” says Mr Fathi. Al-Zour contracts may be awarded in 2014, he adds. Iraq’s capacity utilization is “not more than 70%” with light product imports over 100,000 b/d, but the long-planned expansion has made little progress: “Ev...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Jordan Pushes Shale And Wind In Quest For Diversity
...ES, 18 October 2013); a 146mw gas-fired plant at Zarqa for start-up soon and a 143MW expansion of Samra III gas-fired plant for 2015 (MEES, 9 November 2012); and a 573MW tri-fuel plant at al-Manakher for early 2014 (MEES, 19 October 2012). ...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
OPEC Raises Up World Oil Demand Forecasts
...OPEC OPEC, in its latest oil market commentary, has edged up its world oil demand forecasts for both 2013 and 2014, citing positive developments in the OECD economies of both Europe and North America. Still, the producer group does not expect this to translate into increased demand for it...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Donors Pledge $2.4Bn Syrian Aid
...raise some $6.5bn for 2014 in order to provide medical care, food water and shelter for both refugees having fled Syria and civilians within Syria. The Secretary General noted that when the donors met a year ago 4mn Syrians needed aid, and that a year later the world is facing a regional and a hu...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Iran’s Indicators Improve As Sanctions Relief Approaches
...e real inflation rate to be much higher, the trend is clearly down. President Rohani said in November that his government is targeting a fall to 35% by the end of the Persian year on 20 March 2014; and to 25% a year later. The World Bank’s latest figure is 43% (for y/e October 2013). Un...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
World Bank Ups Global Growth Prospects, MENA In The Doldrums
...REGIONAL The World Bank has nudged up its global growth prediction for 2014. For MENA, a relatively healthy oil-fueled performance for GCC countries masks a sharp fall in growth projections for the region’s developing economies. In its latest twice-yearly Global Economic Prospects, re...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Iraq Expects West Qurna-2 Start-Up By End-February
...d consortium, is one of two key Iraqi oil field projects that are expected to contribute to the bulk of expected additional production capacity in 2014. Meanwhile, the first phase of export capacity expansion work has been completed, raising southern export capacity to 3mn b/d from 2.7mn b/d pr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Petroceltic Focuses On North Africa As Investment And Production are Set To Slump
...EGYPT Petroceltic Focuses On North Africa As Investment And Production are Set To Slump Irish independent Petroceltic is anticipating lower production and investment volumes in 2014, as it seeks to move forward on a key Algerian gas project and focuses its spending on Eg...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Morocco Urges Caution On Exploration
...ve further wells on the permit during 2014. These will be identified with the aid of recently completed 3D seismic, Gulfsands says. Drilling is currently underway on minnow Longreach’s Sidi Mokhtar permit. “The exploration process is long, expensive and high risk… it often requires very many we...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
KRG Finalizes Marketing For End-January Independent Crude Exports
...0,000 b/d for Kurdish exports in its 2014 budget. The KRG says it plans to begin exports at a rate of 300,000 b/d, rising to 400,000 b/d by end-2014. What does seem clear from all the diplomatic traffic between Erbil and Baghdad, as well as the change in tone by Iraqi officials in recent weeks, is that the fe...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Saudi Starts 4GW CCGT Plant, Further 30GW Planned By 2018
...place by end-2018. SEC’s 2012 annual report says its planned generation projects until 2021 include 20.4GW of steam plants, 3.6GW of CCGTs and 3.77GW of upgrades for combined-cycle operation. Other key Saudi power projects set to come online by 2014 are state oil firm Saudi Aramco’s giant 4GW in...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014