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Saudi Crude Price Adjustments Mixed For August
..., 40 days after B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2012 2011 Aug Ju...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Saudi LPG Prices Reduced For July Contracts
...opane Butane 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 2012 1 Ja...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Crude Oil Formulas/Posted Prices ($/B)
...L PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Oman ($/B) 2012 2011 Aug Jul Jun Ma...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Absheron Discovery Declared Commercial
...scovery, announced in September 2011, on the Absheron X-2 well. The company said the well was drilled in 474ms of water to a depth of 6,874ms. One of the hydrocarbon bearing intervals tested at 960,000 cmd of non-associated gas and 2,500 b/d of 42.5° API condensate. “The well results indicate gas resources of...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
ENAP’s Egyptian Growth Boosted By Long-Delayed Bidding Award
...r the Sudr block. The 63 sq km block, on the Sinai coast of the Gulf of Suez, was one of seven offered in the late 2010 bidding round of General Petroleum Company (GPC, the upstream arm of state firm Egyptian General Petroleum Corporation), the award of which was delayed by 2011’s political up...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Former Petroleum Minister Imprisoned For 15 Years Over Israeli Gas Deal
...about $4.50/mn BTU. Mr Fahmy served as minister under Mr Mubarak, who was recently sentenced to life in prison for his role in the deaths of protestors during the days of the revolution in January-February 2011. Mr Fahmy’s involvement in the affair remains unclear. When first arrested in...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Noble Brings Gas From Small Offshore Fields To Israeli Market
...sources will expire by the end of the year. The gas from the two fields will enable Israel to reduce its purchases of diesel and fuel oil for power generation perhaps for the rest of the year. The halt in shipments of natural gas from Egypt during lengthy periods in 2011 and 2012 resulted in Israel having to...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Kuwait Trade Surplus Jumps On Oil Price Climb
...,797 2011 26,689 158 853 302 555 1,867 28,556 6,972 21...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Oman’s Majlis Al-Shura Uses News Powers, Questions PDO
...creased since Sultan Qabus bin Sa'id gave it new powers, following the ‘Arab Spring’ protests. The popular ruler skillfully handled the first wave of unrest in early 2011. He fired corrupt and unpopular officials, promised to create 50,000 jobs and expanded the role of Oman’s elected consultative body, wh...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Qatar To Issue Sovereign Sukuk
...gion (MEES, 5 December 2011). Its last sukuk issue was 10 years ago. Bookrunners on the sukuk will comprise HSBC, Deutsche Bank, Standard Chartered, and domestic financiers Barwa Bank and QInvest. ...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Saudi Economy To Get A Boost From Mortgage Law Approval
...udis. The Saudi authorities are tackling the problem through a combination of building more affordable housing in addition to expanding financing options. They want to raise home ownership from the current rate of less than 60% to 80% by 2024 (MEES, 28 March 2011). “Widening home ownership has broader ec...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Marib Pipeline To Resume Pumping After Nine-Month Closure
...work with the tribes in the volatile Marib region to repair the pipeline that has been closed since October 2011 (MEES, 4 June). “If the situation will be OK after the completion of the repairs, the first cargo will arrive at the refinery in Aden by the end of the month,” the ministry sa...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Is The Anticipated Rise In Long Term Oil Price Inevitable?
...rld Energy Outlook 2011. 2. J Benes et al, ‘The Future of Oil: Geology versus Technology’, IMF, WP/12/109, May 2012. 3. J Currie et al, ‘Commodity Prices and Volatility: Old Answers to New Questions’, Goldman Sachs, Global Economics Paper No. 194, 30 March 20...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
New Egyptian Government Faces Daunting Energy Challenge
...noup al-Wadi, as potential candidates. The two have both been previously linked to the post (MEES, 4 April 2011). Pretty much everything else about the policies and future cabinet membership of the country is unknown, including whether Mr Mursi’s swearing in ceremony will take place on 30 Ju...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Thin Exploration Returns Leave Libya Reliant On EOR-Fuelled Expansion
...ismic 13.7 0.3 Major discoveries. Libya's state investment authority (LIA) bought Verenex's stake in 2009. Medco took over operatorship in 2010. Development plans for 50,000 b/d production from 2015 approved Dec 2011. (Verenex originally submitted development pl...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
China’s Crude Imports Reach Record 25.5Mn Tons In May
...ports 2011-12 Imports 2012 2011 Imports May Apr Mar Feb Jan Total De...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Bahrain $1.5Bn Bond Oversubscribed
...ghter end of pricing guidance suggesting strong demand. It is also lower than the level seen for Bahrain’s November $750mn sovereign sukuk issue which was priced at 450 bps over mid swaps (MEES, 28 November 2011). It indicates that investor appetite has improved as the unrest which Bahrain saw last year ha...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
TANAP Framework Agreement Signed By Turkey And Azerbaijan
...quirements for the receipt of 6 bcm/y of gas from Shah Deniz 2 via TANAP. The TANAP pipeline, which was announced in November 2011, is intended to become operational by 2018 and expected to cost around $7bn. Turkey’s Botas and Azerbaijan’s Socar are the initial shareholders, with respective stakes of 20% and 80...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Turkmen Exports Via BTC Increasing, Socar Data Indicates
...though Iran subsequently looked to resume the swaps trade. In 2010 1.3mn tons (26,100 b/d) of Turkmen oil was exported through BTC, rising in 2011 to 2.1mn tons (43,200 b/d). Exports for the first half of 2012 have already reached 1.4mn tons (56,000 b/d). ...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
BP Starts Up Offshore Seth Field Adding 170Mn CFD To Egyptian Gas Output
...mpleted in 2011 with the completion of new compression capacity. In addition to the Seth start up this was necessitated by a 30% hike in El Temsah production to around 11bcm for 2011 with the start-up of production at the Denise B field which in turn followed 2010’s start-up of 1.6 bcm/y of production at co...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012