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Algeria To Generate 22GW Of Renewable Energy By 2020
...inciple to a long term cooperation with the DII in mid-May last year, marking a sharp change in policy after Algerian officials initially expressed reservations about their participation in the initiative because of doubts regarding the sovereignty of the territory (MEES, 30 May 2011). “Algeria offers pe...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
US Envoy Voices Doubts Over Nabucco’s Prospects, May Favor SEEP
...ll not be large volumes in the beginning.” Nabucco is one of four major pipeline projects competing to supply gas from Azerbaijan’s Shah Deniz Stage 2 development to Europe (MEES, 19 December 2011). Mr Morningstar spoke in favor of projects that “focus on gas supplies via the south direction to th...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Shah Deniz Expected To Win Waiver From US Sanctions
...empted from the latest round of US sanctions against Iran, as set out in the Iran Threat Reduction Act of 2011 which was signed into law by President Barack Obama on 31 December 2011. Shah Deniz leading partner BP, along with EU and US officials including Ambassador Richard Morningstar, the US Special En...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Gazprom And Socar To Expand Gas Trade In 2012
...om Azerbaijan in 2010 and almost 1.6 bcm in 2011....
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Kuwait Energy Announces Gulf Of Suez Oil Find
...lds a 70% working interest, with Omani independent oil company Petrogas E&P holding the remaining 30%. A statement by Kuwait Energy said that its Egyptian operations contribute the largest share to its working interest production of 17,700 boe/d at the end of 2011. The company is operator of Area A, the Bu...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
‘Experimental’ Amounts Of Egyptian Gas Flowing To Jordan
...eraged 80mn cfd in 2011. The disruption in supply began early last year following the collapse of the Mubarak regime when saboteurs in the Sinai Peninsula began to attack the pipeline infrastructure around al-'Arish affecting Egyptian gas shipments to Jordan and to Israel. Jordan relies on Egyptian ga...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
NOC Claims To Have Hit 1.3Mn B/D Production Mark
...sis Group’s Gialo and Defa fields and Eni’s Murzuq basin blocks have made a sizeable contribution. Late last month output stood at around 1mn b/d, with the 70,000-80,000 b/d Gialo field just having begun to restart (MEES, 26 December 2011). Output at Wintershall’s NC-96 and NC-97 fields is up at ar...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
IMF Marks Down Global Growth, But Keeps MENA Forecast Unchanged
...REGIONAL IMF Marks Down Global Growth, But Keeps MENA Forecast Unchanged The IMF cut its global economic growth forecast on 24 January. Citing intensifying strains from the Eurozone crisis, it predicted an increase of only 3.3% in 2012 and 3.9% in 2013. In its September 2011 forecast, th...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Samba Sees Saudi GDP Up 3.8% In 2012
...oil imports from Iran. It predicts that the kingdom will see higher growth in 2013, and puts this at 4.5%. In 2011 the growth rate was 6.8%, the highest since 2003, with much of this attributable to gains in crude oil production due to Libyan outages. However, the non-oil sector also benefited fr...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
South Sudan Shutting Down Oil Output As Kenya Pipeline Deal Is Signed
...ndlocked south, which seceded from Sudan last July (MEES, 11 July 2011). A memorandum of understanding (MOU) was signed by South Sudan and Kenya allowing for “the development of an oil pipeline and fiber optic connections between the oil fields in South Sudan and the Kenyan port town of Lamu,” a statement re...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Western Sanctions Cost Syria $2Bn Since September
...SYRIA Western Sanctions Cost Syria $2Bn Since September US and EU sanctions on Syrian oil exports since the beginning of September 2011 have cost the county an estimated $2bn, Syrian Minister of Petroleum and Mineral Resources Sufian 'Alaw announced in a press conference on 20 Ja...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Syria Moves Towards A Managed Float Of Its Currency
...SYRIA Syria Moves Towards A Managed Float Of Its Currency With the ongoing political upheaval in Syria since March 2011, the value of the Syrian pound is continuing its slide on the foreign exchange market, hitting a low of $1=S£71 on the free market a week ago. Syrian Prime Minister 'Ad...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
KMG Reshuffle Continues After Kazakh Parliamentary Elections
...re fueled by KMG’s decision to fire several thousands of oil workers who went on strike in May 2011 over reduced wages. Mr Akchulakov replaces Lazzat Kiinov, who succeeded Mr Akchulakov on 22 December 2011 as head of KMG. This Soviet-style reorganization is being viewed as a first indication that Mr...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Dana Petroleum Reports First Oil From Matr-1XST Well In North Zeit Bay
...r the purpose of producing oil and gas from the Lorcan development lease (MEES, 5 December 2011). Besides the onshore North Zeit Bay PSC, Dana Petroleum also operates the South October PSC. It is also a partner in the offshore West El-Burullus concession and the East Beni Suef license in the Western Desert. ...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Iran Increases Gas Exports, Additional Supply To Turkey Unlikely
...IRAN Iran Increases Gas Exports, Additional Supply To Turkey Unlikely The Managing Director of the National Iranian Gas Company (NIGC) Javad Owji told IRNA on 18 January that since the beginning of the current Iranian year (21 March 2011 – 20 March 2012), Iran has increased its na...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Jordan’s Energy Import Bill Rose To $4.7Bn In January-November 2011
...JORDAN Jordan’s Energy Import Bill Rose To $4.7Bn In January-November 2011 Jordan’s energy import bill in the first 11 months of 2011 rose by 55.7% to JD3.355bn ($4.731bn) from JD2.154bn ($3.037bn) for the whole of 2010, according to figures from Jordan’s Department of Statistics. The va...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Lebanon Extends Contract With Spectrum For Seismic Offshore Data
...e enhancement of the EMED-00 survey, which was completed in 2011. Earlier this month, Lebanese Minister of Energy and Water Gebran Bassil announced that his country plans to launch its first licensing round for offshore gas within three months. “We now have everything required for an oil company to...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Energy Stocks: Companies Focus On Debt Restructuring
...nuary Dana Gas announced it planned to honor obligations related to the $1bn sukuk and its stock price rebounded 5.8%. In 2011 it had fallen 38%, which analysts believe is due to concern about its ability to repay debt, as well as problems receiving payment for projects in Egypt, where the majority of it...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Kuwait To Explore Oil Investment Opportunities In Sudan
...oduction (MEES, 11 July 2011). Kuwait’s state-owned KUNA news agency reported that a delegation from the Kuwait Foreign Petroleum Exploration Company (Kufpec) met with Sudan’s Minister of Petroleum 'Awadh Ahmad al-Jaz to promote mutual cooperation and discuss opportunities for Kuwait to expand its in...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
MENA Facing Uncertainty From Arab Spring, Eurozone Crisis, Says World Bank
...herwise) Est Forecast 98-07* 2008 2009 2010 2011 2012 2013 GDP at market prices (2005 US...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012