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Turkish Wind Power Soars With 124MW Of New Deals
...Hatay province. Deliveries will take place in 2014-15 and start-up is scheduled for February 2015. Acciona says the turbines are designed for sites with low wind speeds. The contract includes operation and maintenance for 10 years. Also in Hatay, Denmark’s Vestas has received an order from Tu...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
OPEC Output Recovers In December On Gulf Boosts
...wait’s Governor to OPEC Muhammad al-Shatti said in state-owned Kuwait Petroleum Corporation’s latest newsletter. “OPEC is expected to produce at below the group’s agreed ceiling of 30mn b/d in the first quarter of 2014, and that is a major supporter for the stability of current price levels,” he sa...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Kuwait Budget Surplus Falls In First Half 2013-14
...e rise in expenditure. The IMF said last December that the fiscal and current account surpluses are expected to remain large in 2014 and that at a constant level of oil production real GDP growth will rise to around 3%. But the IMF cautions that it is important to restrain current expenditure gr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Egypt In 2014: Referendum And Elections
...EGYPT Egypt In 2014: Referendum And Elections In 2014 Egypt is planning a referendum on a new constitution, as well as presidential and parliamentary elections, as part of a campaign to legitimize the overthrow of the Muslim Brotherhood government under former President Mu...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Oman’s 2014 Budget Aims To Curb State Expenditure
...OMAN Oman’s 2014 Budget Aims To Curb State Expenditure Oman’s freshly-released 2014 budget envisages a modest increase of 5.0% in total expenditure to OR13.5bn ($35.1bn), compared to a 29% increase in 2013 over 2012. Oman officially projects inflation at 1.4% for 2014 – le...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Nine Approaches To Counter The Emergence Of Unconventional Oil
...d demand will continue to widen, exceeding approximately 1.5mn b/d in 2013 and 2014. Accordingly, the oil market has become a buyer’s market; customers have an advantage over sellers in price negotiations. In response to customers’ demands, oil sellers might reduce crude oil prices further in or...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Iraq Achieves 2013 Oil Output Target But Exports Still Constrained
...13). Deal Or No Deal? Iraq has factored in 400,000 b/d of Kurdish exports in the 2014 budget, which is calculated on the basis of total exports of 3.4mn b/d. However, achieving that target is contingent on the settlement of past dues that Erbil says were promised by Baghdad but not fully im...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Iran: Winter Months To Bring Some Relief To Sunken Crude Export Figures
...ports until at least the end of the 2013-14 financial year in March 2014, and still be in a position to win another waiver extension from the US. Between April and November 2013, India shipped in 171,000 b/d of Iranian crude, official trade statistics show. But this is still some way off the 22...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Iraq Defends Misan Refinery Deal
...tarem “has shown that it has well-known partner companies and financiers,” the ministry adds. Accordingly, “the memorandum of understanding was signed on 10 October 2013 and ends on 10 February 2014.” The ministry says it “will study and analyze all the presented” information and notes that “this me...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Tacaamol Aromatics JV
...livered through a pipeline that is part of the phase one work. Chemaweyaat in 2010 said the Tacaamol plant would incorporate a 70,000 b/d reformer. The project was intended for 2014 start-up, but the need to complete the FEED work and then award engineering, procurement and construction contracts me...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
MENA Power Survey - Regional Capacity Rises 4.4% to 350GW In 2013
...th unreliable supplies. AES Jordan and Japan’s Mitsui contracted Finland’s Wärtsilä to build a 240MW tri-fuel plant near ‘Amman, for start-up by July 2014. This will burn HFO, distillates or gas – a response to the all but drying up of gas flows from Egypt (MEES, 11 January 2013). Jordan is also de...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014
...OPEC Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014 Saudi Arabia, which has just announced its budget for 2014, is likely to cut its oil production to an average 9.4mn b/d from 9.6mn b/d in 2014 to accommodate anticipated higher output from Iran, Libya, Ir...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
QP Petchem Flotation
...ke place from 31 December 2013 to 21 January 2014. Qatar’s first IPO since 2010 is open to Qatari nationals only, and will comprise 27.725% of the company’s shares. (For political reasons Doha is keen to share its energy wealth among citizens.) QP said the shares are priced at QR10.2 ($2.80), in...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Saudi Arabia Unveils Record 2014 Budget Despite Curb On Expenditure Growth
...SAUDI ARABIA Saudi Arabia Unveils Record 2014 Budget Despite Curb On Expenditure Growth Riyadh has announced yet another record budget for 2014. But the 4.3% spending hike is lower than in previous years, in an attempt to rein in the spending boom which followed the 2011 up...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
IMF Says Jordanian Recovery On Track
...rect grants to the Jordanian central bank and finance ministry; a further $300mn came in direct budget support from Saudi Arabia, whilst $406mn came from the US, $82mn from the European Union and $20mn from other sources. For 2014, the IMF is projecting grants totaling $2.22bn, with $1.96bn to come fr...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Iraq & Turkey: Neighbors On The Road To Prosperity?
...ab Spring” countries, who have only just started on the road to reform. Against all the odds, Iraq in 2013 is far better and stronger than it was in 2003. Some observers believe that 2014’s general election will be a game changer at all levels; I’m also hopeful that the future will positively shock th...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
QP: What’s Next?
...id Barzan, which will have three of the largest well head platforms ever built in the North Field, is scheduled to be completed by 2014. QP itself has already been restructured. Dr Sada holds three positions that in other companies are filled by separate people. He is also chairman and ma...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
SEC Profits Up 20% In 2012
...ne in 2015. SEC is also working with partners on four independent power producer (IPP) projects: 1.2gw Rabigh-1 and 1.729gw Riyadh PP11 are due on line in 2013; 4.0gw Qurayyah is scheduled for 2014; and 1.81gw Rabigh-2 is slated for completion in 2017 (MEES, 18 January). SEC’s fifth planned IPP will be...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Yemen’s 2013 Budget Aimed At Speedy Return To Stability
...her ways of generating new sources of revenue. Inflation is projected to rise to 9% in 2013 with the pickup in economic activity from 7% in 2012, the statement said, but the government sees a fall in the rate in 2014-15. Unemployment is also expected to fall to 34% in 2013, 32% in 2014 and 30...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Difficult Days Ahead For Iraq
...wnfall by calling a parliamentary vote of no confidence. Failing that, their next chance to change the government will come with the spring 2013 district and provincial elections and the January 2014 parliamentary elections. However, even if they are successful and Mr Maliki fails to serve fo...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013