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Benchmark Crude Prices
...13 2013 2012 2011 WTI 106.53 102.58 103.47 101.90 102.02 98.56 97...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Rising Oil Exports Raise Questions Over Washington’s Iran Policy
...ndensates rose by close to 200,000 b/d in April versus March levels, to breach the 1.4mn b/d mark. By 2011 standards, this would represent a disastrous month for Iranian exports, which were then averaging upwards of 2.5mn b/d. Fast forward three years however, and the figures are still alarming – but fo...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
KRG Oil Export Plans All At Sea
...rsang since 2010. It has made two significant discoveries in the Swara Tika structure, the last of which was in 2011. But it did not declare commerciality until May this year, beyond the five-year exploration period specified in the production-sharing agreement signed in 2007. The delay soured re...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Libya: Exports Down, Output Down, Violence Continues
...rf offshore fields is not sold to the international market, it would be the first time since 2011 that Libya ceased to export oil completely. Production, which averaged 200,000 b/d in April, edged up slightly to average 220,000 b/d in May, according to MEES estimates. However, this higher monthly av...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Cost Of Conflict Rises To $144bn
...SYRIA A report released last week, prepared by the Syrian Center for Policy Research (SCPR) and commissioned by UNRWA and UNDP, indicates that the Syrian economy has sustained losses of $143.8bn between the start of that country’s civil war in 2011 and the end of 2013. These losses ar...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Lebanon’s First Bid Round Likely Pushed Back To 2015
...vestors alike. Gulf citizens were a major boon to Lebanon’s economy, making annual pilgrimages to enjoy Beirut’s comparatively tolerable summers. This dynamic ended abruptly with the spread of violence in Syria in 2011, the influx of more than a million refugees into Lebanon, as well as the violence an...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 102.48 103.47 103.42 101.90 102.02 98.56 97.54 98.03 94...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
South Tunisia Gas Development Close To Go-Ahead Despite ENI Departure
...y operator in the south of the country – last month started development work at Nawara and is also looking at first volumes from 2016. Proposed Nawara volumes were doubled in late 2011 to accommodate the feed-in of the Cherouq discovery following OMV’s February 2012 takeover of US firm Pioneer’s Tu...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Iraq Faces Summer Power Crunch Despite Progress On $75Bn Mega-Plan
...arged Electricity stands out in Iraq’s highly politically-charged environment as the single most controversial sector. It has proved a graveyard for politicians, with successive ministers getting the sack in 2010 and 2011 (MEES, 3 October 2011). There have been major mistakes, including the 2008-09 GE/Si...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Qatar Plans First IWPP Project In Five Years
...ectricity and Water Company (QEWC) estimates Qatar’s total electricity capacity at 8.77gw and desalination capacity at 327mn gal/day. Qatar’s previous IWPP project was the QR14bn ($3.8bn) Ras Laffan C plant, inaugurated in mid-2011 (MEES, 6 June 2011). The plant has capacity to generate 2.73gw of el...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Seoul Seeks To Sate Mideast Supply Needs
...er Seoul’s oil imports appear unassailable. Predictably, US-led sanctions on Tehran have eroded Iranian crude import volumes. Jan-May 2013 average of 146,000 b/d is sharply down on 2011’s 251,000 b/d, but only marginally on last year’s 154,000 b/d (see table 2). Purchases from the UAE have made st...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Egyptian Army Hints At Intervention As Country Remains Divided
...e side of the government. In early February 2011, just after the departure of Mr Mubarak, the White House said a new Egyptian government should “include a whole host of important non-secular actors,” a clear reference to the Brotherhood, and now the US ambassador to Egypt, Anne Peterson, has come un...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Analysis: Will New Amir Era Usher In QP Restructuring?
...cember 2011). In addition to a recent 2.5tcf Wintershall find in Block 4N, Qatar has two other sources of gas available without the moratorium being lifted: surplus gas from the 1.5bn cfd Barzan project; and a 500mn cfd cushion field beneath Dukhan oil field. The cushion field was taken out of pr...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Firm Oil Prices And Capital Inflows Boost UAE Growth, Says IMF
...lated to Dubai World and Nakheel which will begin to mature in 2015-16. Abu Dhabi 2012 GDP Estimated At $248Bn The GDP of the largest emirate in the UAE federation, Abu Dhabi, rose by 7.7% in 2012 to Dh911.6bn ($248bn) at current prices from Dh846.7bn ($231bn) in 2011, according to fi...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Algeria’s Natural Gas Policy: Beware Of The Egypt Syndrome!
...ose of electricity for that matter) since December 2005. As far as ARH is concerned, it managed, as explained in the Box on p19, to amend the relevant decree to adjust the indexation formula upward but the supply price it last notified in 2011 was kept below what the new formula actually suggested (Fi...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Benchmark Crude Prices
...12 2011 WTI 97.05 96.66 96.31 94.75 92.09 94.42 88.25 94.18 95...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
KRG Drops Turkish Six-Block Bombshell; Disputed Areas Included
...nguard of the rush north with a six block mega-deal in late 2011. ‘Major Bilateral Energy Deal’ The deals were confirmed the following day by Kurdish Natural Resources Minister, Ashti Hawrami, who also said they were part of a wider Turkish-KRG energy deal, which includes direct KRG-Turkey pi...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Saudi Mega-Projects Take Shape As Sadara Completes Financing
...cember 2014. IPC in June 2012 obtained a SR1.4bn ($373mn) loan from four Saudi banks and in November 2011 a SR600mn ($160mn) loan from Saudi Industrial Development Fund (SIDF). Meanwhile, on 13 June US plastics firm Invista announced an exclusive agreement with Petrochemical Conversion Company (PC...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Qatari Solar Plans: Dark Clouds Gather
...09 and 2011, the sector’s relatively small size would still let Qatar hit its renewable energy target. This would require about 1.5gw of production capacity (MEES, 28 May). Solar plants only take two years to build. Doha wants to conserve its gas reserves in the North Field, which faces complex ch...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Cautious Optimism Reigns Supreme Following Election Of Rohani
...cently as in June 2011 (see graph 2). This decline – which could continue should the Western sanctions machine carry on in its current vein – has forced Iran into storing up to 30mn barrels of its crude oil at sea, according to London-based EA Gibson Shipbrokers, as sanctions prevent Iran from im...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013