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Saudi Arabia, UAE and Bahrain Pull Doha Ambassadors
...ani, who took over from his father last year and is still trying to find his feet on shaky Arab ground, still unsettled since the start of the wave of revolutions that swept across North Africa in 2011. Doha’s growing support for the Muslim Brotherhood since he took over as head of the leading gas pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Egypt’s Wheels Of Change Keep Spinning
...EGYPT Egypt’s Wheels Of Change Keep Spinning Three years after the Arab Spring, Egyptian politics remain in a state of flux. The 2011 Arab Spring introduced a new road map for Arab revolutions, as millions took to the streets calling for the overthrow of Pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Oman Oil Corruption: Ministry Blames Individuals, Not System
...e country’s key downstream projects – the 116,000 b/d Sohar refinery and polypropylene plant commissioned in 2006, and related aromatics plant commissioned in 2010. All are now operated by the sultanate’s state-refiner Oman Refineries and Petroleum Industries Company (ORPIC), established in 2011. Th...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Tunisia Pledges Cuts To Avoid Economic ‘Catastrophe’
...lamist party Ennahda won the elections after the overthrow of Ben Ali’s regime in January 2011, but two political assassinations of prominent opposition deputies in 2013 reminded Tunisians that they were still in transition, given the economic challenges and external shocks experienced since 2011. La...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Why Saudi Arabia Welcomes The US Shale Boom
...lps stabilize oil prices. Take the uprising in Libya in 2011, which cut Libyan production and led to a sharp rise in price. Over the last 12 months, when there has again been a crisis in the country, and falling supplies, there has been no repeat of the price increases. There is no doubt that the oil ma...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Iraq Supplants Iran As Top Crude Supplier To Turkey For 2013....
...12 2013 % of total 2012 % of total ‘000 B/D % of total 2011 2010 Iraq 121.8 32...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.56 102.45 102.31 100.68 94.81 97.54 105.73 98...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Oryx IPO Bid Reveals Controversial Wasit Oil Deals
...IRAQ Oryx IPO Bid Reveals Controversial Wasit Oil Deals Geneva-based independent Oryx Petroleum has signed three oil deals directly with the Wasit Provincial Government, bypassing the central Iraqi government in Baghdad. The 13deal was done back in December 2011. Rumors of the deal – an...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
‘New Eni’ Reduces North African Exposure
...versification' Having recently sold much of its downstream and services business, Eni will increase the share of its capital expenditure (capex) devoted to the upstream from 48% in 2011 and 54% for 2012 to 61% by 2016. However the North Africa share of the upstream total will fall from 23% for 2012 to 17% for 20...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Benchmark Crudes, Saudi Arabia - Economic Data & Saudi Arabia Export Revenue
...OIL PRICES Benchmark Crude Prices* 28-Mar 18- 22 Mar 11- 15 Mar 13-Feb 13-Jan Q4 2012 Q3 2012 2012 2011 WTI 97.23 93.11 92.72 95...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Sudans Readying For Southern Oil Restart
...id in Juba on 26 March. He said the producing oil companies in the South were currently in the process of resolving any remaining technical issues that could prevent the country from reclaiming its place among Africa’s key oil exporters. South Sudan seceded from Sudan in July 2011, ta...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Yemen Offers 15 More Blocks
...men’s 2011 average production at 228,000 b/d, down 24% from the 2010 figure of 301,000 b/d, and off 50% from 455,000 b/d in 2001.) Sustained attacks on the country’s oil pipelines and power lines however have compromised government efforts thus far, prompting the authorities to launch a major of...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
PetroTel Expands Oman Portfolio
...nistry of Oil and Gas (MOG) on 26 March, for a 100% working interest in Blocks 39 and 67, both of which were made available as part of a bid round in August 2010. With this acquisition, PetroTel brings its number of Omani assets to four, after winning the adjoining Blocks 17 and 40 in 2009 and 2011 re...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Juba Clings To Pipeline Plan
...smissed as invalid. Juba felt it had the right to renegotiate deals signed before it gained independence in July 2011. Total has held a 32% stake in the license for more than 30 years, but has been unable to carry out any significant exploration during due to the violence that continues to grip the re...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
UAE Makes Progress On Nuclear Plant, Iran’s Bushehr Off-Line
...nce it started operation in September 2011. The latest shutdown, which began in February, is for repairs to the turbine generator. The plant had only been operating for about a month, following a protracted outage for repairs after debris was found in the reactor housing. Atomic Energy Or...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Libya To Transfer $2Bn To Egypt
...13 from over $36bn before the January 2011 revolt. ...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Algeria Looking To Generate Extra 2.8GW This Summer
...turning late from maintenance, which reduced availability to 83% of installed capacity. Mr Yousfi estimated Algeria’s total electricity generating capacity at 11.39gw at the end of 2011, of which 8.50gw was operated by state generator Sonelgaz and 2.89gw by independent generators. He did not detail th...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Syrian Pound Slides On “Malicious War”
...th Iran, which had extended a $1bn line of credit to Syria. Foreign exchange reserves, which stood at $18bn in March 2011, may have fallen to $5.6bn at the end of 2012 (MEES, 15 March). Meanwhile Syria has issued an Economic Crimes Law aimed at combating corruption and theft, preventing the de...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
IMF Sees Iraq’s Growth At 9% In 2013
...12 % Change 2011 2010 Total Revenue 119,297 102,327 16.6 80,935 61,735 Total Expenditure 138,425 117,123 18.2 96,663 84,657 Capital 55...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013 -
Sadara Gets Go Ahead To Offer Sukuk To Finance $20Bn Project
...tober 2011 (MEES, 17 October 2011). Ultimately, the two sponsors will decide on the size of the offer based on the price they pay for the debt. Typically as the offer size climbs, the pricing the issuer will pay to investors also rises, so the sponsors will need to determine whether taking more of the Su...
Volume: 56Issue: 12Published at Fri, 22 Mar 2013