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Saudi Arabia Drafts Energy Efficiency Law In Bid To Curb Runaway Demand
...at has grown more distant as a result of the Arab revolutions that have shaken the Middle East since 2011. It has instead focused heavily on energy conservation and efficiency under a program coordinated and led by Prince ‘Abdulaziz, who has more than two decades of experience as deputy oil mi...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Arabia: Rigcount Hits Record 101 For May 2014
...s wells and 50 water wells. The rise in drilling activity since early 2011 coincides with relatively stable oil prices that have remained largely above $100/B. Oil Vs Gas Split Onshore Vs Offshore Split MENA Active Drilling Rigs, May 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
IOC Cost-Cutting May Limit GTL Prospects
...the end of April that the lead time for Pearl to reach cost recovery was reduced by a couple of years “almost by definition,” since the firm used an oil price of $70/B in its calculations. After coming online in 2011 and facing some hiccups, Pearl produced at a record level during 1Q14 (MEES, 11 Ap...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Cyprus: Eni Plans September Drilling, CNOOC Eyes Aphrodite Stake
...th the Energy Ministry. Nicosia is keen to make additional offshore gas discoveries sooner rather than later, with US firm Noble and Israeli partner Delek increasingly veering towards floating LNG as an exploitation option for their 2011, 5 tcf Aphrodite discovery on Cyprus’ Block 12, the only di...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Leads Capacity Expansion But Mideast Runs Slide-BP
...finery, Oman’s 230,000 b/d Duqm refinery and Kuwait’s 615,000 b/d Al-Zour refinery (MEES, 2 May). Middle East Refining Key Numbers (Mn B/D) Middle East Refining Capacity (‘000 B/D) 2009 2011 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Middle East Oil Burn To Rise, Says IEA
...ue.” While the share of gas for power generation increased from 56% in 2001 to 64% in 2010, “oil has been coming back” with its share rising to average 37% for 2011-13. “Despite the region’s continued addiction to oil and gas, renewable sources and nuclear will amount to 6% of total generation by 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Massive Us Growth Balances Mideast Instability, But For How Long?
...eater than forecast in 2012, 2.20mn b/d higher than anticipated in 2011, and 3.21mn b/d above 2010 projections, the IEA says. Us: ‘Huge Investments’ “Huge investments resulted in the US delivering the world’s largest increase in oil production last year” says BP chief economist Christof Rühl, no...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
MENA Oil & Gas: Key Production/Consumption Numbers From BP’s 2014 Statistical Review
...nsumption 2013 vs 2009 Balance 2009 2010 2011 2012 2013 mn...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Yemen Oil Minister Replaced As Fuel Crisis Deepens
...e midst of a days-long blackout that followed, locals set tires and cars alight across the city, in what was in effect, a replay of the 2011 demonstrations that accompanied the Arab Spring. Roadblocks were also set up on a number of the city’s main roads, bringing economic activity to a virtual st...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Iraq Fractures As North Falls To ISIS And Kurds Extend Their Reach
...dress Sunni demands and frustrations and his crackdown on protests that have been ongoing since the departure of US troops in 2011 made Iraq’s Sunni heartland fertile ground for the ISIS advance. Sunni tribes in the western province of al-Anbar have been protesting peacefully since early 2013. They de...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
South Korean Crude Oil Imports, ‘000 B/D
... May-14 Apr-14 Mar-14 YTD 14 YTD 13 ‘14 vs’13 2013 2012 2011 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 106.43 105.32 102.58 101.90 102.02 98.56 97.54 98.03 94...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Jihadist Advance Threatens Key Iraq Oil Facilities
...rmalized an already existing sectarian division in the country following the departure of US troops in 2011. Mr Maliki failed to obtain a parliamentary vote that would have allowed the cabinet to declared a state of emergency in Mosul and other areas overrun by Sunni militants, apparently without re...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
IEA Sees $735Bn Investment In Evolving LNG Market Through 2035
...wn this year. More vessels will hit the water, further lowering charter rates: after reaching a high of about $150,000/day after Japan’s 2011 Fukushima Daiichi nuclear accident, rates have decreased to about $70,000/day and will likely continue on a downward trajectory. Oil & Gas Transport In...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Renewables: Turkey, UAE Make Progress But MENA Investment Lags
...e record level in 2011. Of this investment only $9bn was in the Middle East and Africa, and this includes $4.9bn from South Africa alone – less than $4bn, ie well under 2% of the global total, was in MENA (see chart). New Capacity Turkey added 112MW of geothermal generating capacity in 2013, ta...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Cyprus Lays Out Renewables Plans
...timism is not shared by the Cyprus Green Party which predicts the government could still fall short of its 13% target if more is not done on the renewables front. The Greens argue that following the 2011 Mari Naval Base munitions explosion, which took out much of the island’s main power plant at ne...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Nigerian Minister Surprises With Bid For OPEC Top Job
...mpany NNPC. It is not known who paid for the FT advert. The minister’s aides have denied the charge and she herself said in a statement after the allegations surfaced that the chartered aircraft was used to carry out official duties. Since her appointment in June 2011, the minister has been cr...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Libya: Optimism Tempered By Fighting And Production Woes
...gn Mr Maiteeq went quietly, accepting the verdict the same day, a relief for Libyans. Mr Thinni only re-assumes the post temporarily; elections are due late this month. But for the first time since the fall of former leader Mu’ammar al-Qadhafi in 2011, the country is immersed in a drawn out bl...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Jordan Plans $1Bn Bond
...reign grants to reduce its budget deficit. It expects to receive JD1,151mn ($1,623mn) in foreign grants in 2014, up from JD982mn ($1,385mn) in 2013 (MEES, 21 March). Gas Shortage Jordan’s fiscal situation worsened after the 2011 Egyptian revolution, which led to a disruption in Egyptian gas su...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
IEA World Energy Investment Outlook: Can We Still Count On The Middle East?
...the modeling and analysis are based. The focus is on the ‘New Policies Scenario’. Under this central scenario, global primary energy demand increases by one third between 2011 and 2035. This overall trend, however, masks marked differences between fuels: oil grows at 13% during the period; co...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014