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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 -
Korea’s KNOC In Line For ADCO Stake Despite Limited Experience
...12. Source: Company Annual Reports, media reports Defense Ties South Korea is also a growing defense partner of the UAE, having sent a contingent of troops to train UAE forces in 2011. South Korean firms have sold drone aircraft to the UAE, which is also in talks to buy South Korean-bu...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Petrofac Wins ADCO Contract
...s processing plant. In addition to allowing increased quantities of crude to be extracted, injecting CO₂ will allow currently-reinjected natural gas to be sent to the grid to ease the emirate’s annual summer gas shortage, which exceeds 2bn cfd (MEES, 2 May 2011). The Petrofac award comes as...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
GCC Measures Against Hizbollah Could Undermine Lebanese Economy
...banese GDP Growth Cut To 2% In its latest Global Economic Prospects the World Bank revised Lebanon’s real GDP growth in 2013 downward to 2% from 2.8% in January. It is now estimating growth at 1.5% in both 2011 and 2012 and is projecting a rise to 2.3% in 2014 and possibly 4.0% in 2015. The World Ba...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Yemen Oil Revenues Take Nosedive
...ainst former president ‘Ali ‘Abd Allah Salih in early 2011. Even though Mr Salih stepped down in February 2012, attacks have continued with the key aims of putting pressure on the Yemeni leadership to distribute handouts and release previously imprisoned tribesmen, analysts say. Yemen’s main ex...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Iraq’s Integrated National Energy Strategy: Investment And Institutional Requirements
...llion as capital expenditures and $90 billion as operating expenses), in 2011 dollars between 2012 and 2030, including all contracted payments to TSC operators. Of this total figure, it is assumed that about 15% will be available from private investments, primarily in refineries and linked in...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 95.14 96.31 94.26 94.75 92.09 94.42 88.25 94.18 95...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Protests Drive Libyan Output Below 1Mn B/D
...venues to finance the budget,” NOC warns. “NOC rejects the methods of extortion and threat caused by the closure of roads and the stoppage of production,” it adds. In the wake of the overthrow of Qaddafi in late 2011, NOC managed to boost output from virtually zero to 1.6mn b/d in a few months (MEES, 31 Ma...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013