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Bulgaria Lukewarm On Burgas-Alexandroupolis, Bullish On South Stream And Belene
...t decide on participation in the Burgas-Alexandroupolis oil pipeline project before February 2011 at the earliest. However, a visit to Sofia by Russia’s Deputy Prime Minister and Gazprom Chairman Viktor Zubkov on 6-7 July appears to have ended Bulgaria’s procrastination over the other two of three st...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
BG Plans Expansion Of WDDM Gas Facilities
...ncession, will be operational by the end of 2010, with the company also planning to drill an additional nine development wells on the block by late 2011, he told reporters on 7 July. “Gas demand in Egypt is going up, and increased demand helps promote exploration,” Mr Sufi noted. BG manages its upstream ac...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
IMF Revises Up 2010 Global Outlook
...tlook The International Monetary Fund (IMF) has revised upwards its global economic growth projections for 2010 and 2011 in the July update of its World Economic Outlook. The global economy is expected to expand by 4.6% in 2010, up from projections in April which saw growth at 4.2% (MEES, 26 April). The ne...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
GCC Economies Return To More Robust Growth, Says Samba
...oblems in Europe are unlikely to alter materially economic growth prospects for the GCC states for the remainder of this year and 2011. Any further immediate dip in oil prices should be in large measure offset by a stronger dollar, according to Samba. However, deterioration in loan portfolios in various co...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
Aliyev Outlines Azerbaijan’s Gas And Oil Export Prospects
...2011. Q: One of the most interesting aspects of your strategy is the possibility to export 1-1.5 bcm/y to Syria through a 3 bcm/y Turkish-Syrian gas interconnector, which would be ready by 2011-12. How is this plan developing? A: This is indeed an interesting proposal from the part of the Sy...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Tighter Sanctions Aimed At Iran’s Energy Sector
...ould add almost 29,000 b/d to gasoline production by 2011. By 2012, it estimates an 80,000 b/d crude distillation capacity boost to the 168,000 b/d Arak refinery, as well as Residue Fluidized Catalytic Converter (RFCC), Continuous Catalytic Reformer (CCR) and hydrotreater capacity additions. And both Ba...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
MEES Agenda: Strong Crude Price Boosts 2010 Budgets, Encourages Higher 2011 Estimates
...Middle East Economic Survey VOL. LIII No 27 5-Jul-2010 Strong Crude Price Boosts 2010 Budgets, Encourages Higher 2011 Estimates With the first half of the year over, most oil producing co...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Bulgaria Calls For Detailed Gas Talks With Turkey And Azerbaijan
...d the Balkans by the end of 2011. Sofia News Agency reported on 30 June that the two sides also discussed a November 2009 memorandum of understanding (MOU) for the export of compressed natural gas (CNG) to Varna through the Socar-controlled Georgian terminal of Kulevi. In April 2009, Bulgaria and Az...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Technip Awarded West Delta Deep Marine Expansion Contract By Burullus
...sign, supply and installation of three production manifolds and three subsea distribution assemblies, the installation of 67km of rigid production flowlines and 88km of umbilicals, and their connection to wellheads and subsea manifolds, with work expected to begin in the second quarter of 2011. Burullus is...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Cyprus Prepares For Second Bid Round In 1H11, As Gas Prospects Grip East Mediterranean
...d round for offshore exploration and development blocks sometime during the first or second quarters of 2011, Solon Kassinis, head of Cyprus’ Energy Department at the Ministry of Commerce, has told MEES. It had been expected that Nicosia would announce a bid round sometime during 2010 (MEES, 4 May 20...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
GCC Power Grid Goes Live, Provides Model For Regional Cooperation
...wait, while the line that will link in the UAE is scheduled for completion in 2011, with Oman expected to follow shortly thereafter (see map). The initial connection is a milestone for a project that was planned back in 1991 – construction started in 2004 – and it could usher in a new era of re...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Faltering Upstream Progress Undermines Libyan Output Targets
...,000 b/d development plan for some of the oil and gas finds it has made in Area 47 in the Ghadames Basin. Verenex says it could achieve first production by 2011, which makes it potentially one of the fastest field development projects on the table in Libya, and has said that future production sc...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
EC Proposes Emergency Response Mechanisms For Future Gas Crises
...isting national storage and LNG import capacities. The draft envisages regional gas supply sharing mechanisms “on a case by case basis” so that all member states are able “by 2011 at the latest” to cover the loss of their principal gas import source for 60 days based on peak winter demand. EC Energy Co...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Abyei Ruling Bolsters Sudan’s Comprehensive Peace Agreement
...a whole. The acceptance of the court ruling, especially by the Government of South Sudan, is notable given that it places Heglig, one of the country’s biggest, albeit oldest, oil fields squarely within the north’s borders. With a referendum due to take place in 2011 that will allow the south to op...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
OPEC Slashes Demand Forecasts
...10 2011 2012 2015 2020 2025 2030 North America 23.7 23.4 23.4 23.5 23.6 23.4 23.1 22.8 Western Europe 14.8 14.6 14.6 14...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
Gulf Power/Water Privatization Continues, As Saudi Arabia Conducts Review
...ditional capacity to begin operating in summer 2011 and become fully operational in the summer of 2012, through two 650mw plants at Barka 2 and Sohar 2. At Al Ghubrah output will be increased under a development that splits the site into East and West locations....
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014
...ojection in July 2008, the report said. IEA World Oil Supply And Demand Outlook 2008-14 (Mn B/D) 2008 2009 2010 2011 2012 2013 2014 OECD Demand North Am...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
Barclays Sees Benchmark Oil Prices Heading Into $75-95/B Range
...ft landing into roughly the $75-95/B range now appears to be the ultimate destination for oil prices this year.” Barclays Capital Annual Oil Price Forecast ($/B) 2006 2007 2008 2009 2010 2011 2012 Long-Term WT...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
Political Comment (6 July 2009)
...rces by 31 August 2010, followed by the withdrawal of all US troops from Iraq by the end of 2011, as provided for in last year’s Status of Forces Agreement. Assuming everything goes according to plan (which is probably a rash assumption in Iraq), it is only then that a truly independent Iraq will have to...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
SRAK Strikes Gas In Saudi Arabia, But Tough Terms And Rising Costs Cloud Development Prospects
...ran gas suggests any extra costs will be met, and that the company will attempt to stick to the schedule to provide gas by December 2011. At Karan, two platform jackets have already been installed, MEES understands. The Karan cost increase results from some scope changes (storage capacity was in...
Volume: 51Issue: 30Published at Mon, 28 Jul 2008