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Iran’s Upstream Opening: The Foreign Firms That Stand To Lose
...is fact, in 2011 the former president even went so far as to say: “Thank God the enemies put sanctions on us… As soon as they told us ‘We won’t sell gasoline to you,’ we started producing gasoline inside the country, and in fact moved towards utmost self-sufficiency.” But this notion of self-su...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Sonelgaz Generating Capacity Up 2GW In 2013, But Finances ‘Fragile’
...this total. He noted that Sonelgaz invested a total AD409bn ($5.2bn) in 2013, an increase of 77.5% over 2012, of which almost half was allocated for power generation.. Sonelgaz Financial Results (Ad Bn) 2011 2012 20...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Algeria Heading For Oil Output Drop
...line later than envisaged. BP’s expansion of In Salah has been pushed back after the attack on the In Amenas fields by Islamist terrorists in 2011, and no new deadline has been given. GDF Suez’s Touat project is now scheduled to come online in late 2016, a year later than envisaged. Total’s initial de...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Turnout At Libyan Elections Disappoints
...5mn Libyans were registered to vote, less than the 2.8mn eligible in 2012. Killings Continue The same day, Salwa Bugaighis, a well-known human rights activist who had played a big role in the peaceful protests that preceded the armed struggle against Gaddafi in 2011, was killed in her house in Be...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Mideast FDI: ‘Bleak’ Prospects Amid Post-Arab Spring Instability-UN
...litical and social upheavals following the 2011 Arab Spring continue to weigh down economic activity and deter potential investors. This comes despite an overall upturn in global economic conditions, and FDI, over the past year. Global FDI inflows rose 9% to $1.45 trillion last year, but for the MENA re...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 105.84 106.50 105.32 101.90 102.02 98.56 97.54 98.03 94...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
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