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Petroceltic Pares Capex On Lower Prices
...06. Their original development plan called for 20,000 b/d start-up in 2011 ramping up to 36,000 b/d later (MEES, 23 February 2009)....
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Saudi-UAE: The Start Of A Beautiful Relationship?
...rial campaign against the forces of the late Mu’ammar al-Qadhafi in Libya in 2011, became a more visible player in the Libyan civil war last year. When the US inadvertently revealed that UAE fighters had bombed Islamist rebels in Libya from bases in Egypt, it signaled the emergence of a new player in th...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Qatar Shelves $6.5bn Al-Karaana Project, QP Rethinking Ethane Usage
...rldwide. Shell says Al-Karaana was to be operated as a stand-alone joint venture, with QP holding 80% and Shell 20% of the equity. The partners signed a heads of agreement for the project in December 2011. QP-Shell awarded the Al-Karaana FEED project to US firm Fluor in early 2013. The plan was to produce et...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Algeria Ignores Storm Clouds With 2015 Budget
...amework should be revamped and fiscal policy should be placed on a more sustainable footing (MEES, 28 March 2014). ALGERIAN BUDGETS: 2011-15 (AD BN) 2015 vs ‘14...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
South Korean Crude Imports: OPEC Maintains 85% Share For 2014 (‘000 B/D)
...South Korean Crude Imports: OPEC Maintains 85% Share For 2014 (‘000 B/D) 2014 2014vs2013 2014vs2008 2013 2012 2011 20...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
US Oil Output Rises 15% To Hit Record 12.7mn B/D In 2014 But Growth Slows In Q4
...13 *2014 ‘000 b/d % 2013 2012 2011 2010 2009 2008 Dec-14* No...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Oil Price Slide Exposes Flaws In Juba-Khartoum Transit Fee Deal
...ound $80/B on average for its oil exports – once taking into account Sudan’s share, and the discounts at which its two export grades Dar and Nile Blend are sold. The South Sudan Development Plan 2011-13 released in August 2011 set an oil price assumption of Brent minus $2/B for its Nile Blend ex...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
MEES Analysis: Bid Round Offers Century Old Acreage
...illing two dry wells in 2011. Ganope’s previous bid round offered 20 exploration blocks – 11 of which were in the Western Desert – in December 2012. But, amid the then prevailing uncertain investment climate and bureaucratic delays, definitive exploration agreements have only been signed for two, bo...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Oman Slashes Spending For 2015, But Will More Cuts Be Needed?
...ojected at OR9.16bn ($23.8bn), or 79% of total revenue, level with 2014 but well down on the 85% average for 2011-13. Thus the 2015 budget projects a record deficit of OR2.5bn ($6.5bn), equivalent to 21.6% of revenue and to 8% of GDP (see graph). OMAN’S FINANCES 2006-15 (OR BN)* OM...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, October 2014 (‘000 B/D)
...D14 vs YTD13 vs YTD12 2013 2012 2011 2010 2009 Crude Production 9,690 -14 -63...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Saudi ‘Off-Spec’ On 2016 Product Quality Target
...D13 vs YTD12 2013 2012 2011 2010 2009 Crude Production 9,690 -14 -63 9,...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Subsidies Should Go As Oil Price Falls: IEA Chief Tells Arab Ministers
...ailable for exports, which fell to 6.66mn b/d earlier this year - their lowest since March 2011. Iraq too is burning record amounts of crude oil that it cannot export, while also flaring more than 2bn cfd of natural gas. LIBYA, SAUDI HAVE CHEAPEST GASOLINE The Organization of Arab Petroleum Ex...
Volume: 58Issue: 01Published at Fri, 02 Jan 2015 -
South Sudan Turns To China As Warring Parties Prepare To Renew Hostilities
...out 160,000 b/d, down from 200,000 b/d pre-conflict. This appears to represent the first new deal with a foreign oil firm since independence in 2011, though in 2012 Juba signed a bilateral agreement with Oslo to receive support to develop its largely underdeveloped petroleum industry. The su...
Volume: 58Issue: 01Published at Fri, 02 Jan 2015 -
Saudi Arabia Budgets For $39Bn 2015 Deficit Despite Spending Cut
...d yearly since the 2011 Arab Spring uprisings. Commenting on the new budget, Saudi Minister of Economy and Planning, Muhammad al-Jasir said that the government is maintaining expenditure on large infrastructure projects currently under implementation, like railways, desalination and power pl...
Volume: 58Issue: 01Published at Fri, 02 Jan 2015 -
Domestic Prices of Oil Products In MENA Countries
...31 0.22 0.10 na Algeria (Dinar) 2011 9.00 na 23.00 21.20 na 22...
Volume: 58Issue: 01Published at Fri, 02 Jan 2015 -
Exxon Shrugs Off West Qurna-1 Cut
...Cs’ unattractive terms, which do not allow IOCs to book reserves, led ExxonMobil to ignore Baghdad’s threats of expulsion and sign production-sharing contracts for six KRG exploration blocks in 2011. ExxonMobil has managed to retain its WQ-1 operatorship, having reduced its stake from 60% to 25%, wh...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Iraq, KRG Narrow Differences In Oil Row But Final Accord Elusive
...ditional $2bn to the KRG, rather less than the $9bn that Erbil says is owed by Baghdad for oil sales between 2011 and 2013, when the KRG halted exports of some 150,000 b/d because of the row over non-payment to foreign contractors. But he reiterated the Iraqi government’s position that no oil could be ex...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...nce mid-2012 been required to dramatically reduce its imports of Iranian crude oil so as to stay in line with US sanctions placed on Iran’s key oil and banking sectors. Washington in late 2011 passed a law cutting off access to the US financial system for entities involved in oil trade with Iran and it...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Force Majeure A Reminder Of Risks For Energy Producers In Egypt
...wn the impact of the Arab Spring upheaval on business, even as the amount of outstanding receivables continued to grow. Gas Pipeline Bombed, Again But while oil and gas production sites have remained unaffected by the violence that has periodically engulfed Egypt’s main cities since 2011 (th...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Rafsanjani Criticizes IRGC’s Economic Power
...e Iranian rail network (MEES, 16 November). The previous Minister of Petroleum Rostam Qasemi, who served as managing director of Khatam al-Anbia before his appointment in August 2011, called for expansion of the role of the IRGC-affiliated engineering firm in the economy, by becoming a “re...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014