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Yemen Mired In Fuel Subsidy Dilemma
...fficult to eliminate, as their main beneficiaries in society push – or in some cases even riot – to hold on to their subsidy-related ‘benefits.’ What was already a politically thorny issue however has taken on another dimension, in the aftermath of the 2011-12 wave of revolutions that swept across the Mi...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Can Saudi Arabia and Iran Put Regional Rivalry To Rest?
...esident Obama’s visit to Riyadh convinced Saudi rulers that compromises were necessary with Iran at this time. It may be that Riyadh is signalling a readiness to put an end to the simmering Shi’a-Sunni conflict that has reared its head since 2011 and is threatening the cohesion of countries like Iraq. An...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sisi Promises Economic Reforms
...ne which began shortly after the fall of Husni Mubarak in 2011. Saudi Arabia, Kuwait and the UAE pledged $12bn in aid after the removal of Islamist president Muhammad Mursi last year. Cairo is currently receiving assistance in the form of petroleum products from Saudi Arabia. The head of the Eg...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Iraq: Is Future Near-Total Reliance On Gas-Fired Power Justifiable?
...wer Generation In Iraq (%) As for natural gas, in contrast to the $4.5/mn BTU LNG netback price used in MoE, Iraq’s average border price for possible exports of dry-gas/LNG to six destinations; calculated by the IEA (2012, p127), indicates an average netback price of $10.30/mn BTU for 2011. Th...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Fossil Fuel Consumption Subsidies ($Bn, IEA estimates)*
...Fossil Fuel Consumption Subsidies ($Bn, IEA estimates)* 2012 vs 2011 2012 vs 20...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 103.74 101.64 100.00 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...onouncements: in 2010, for example, QNB expected crude production capacity to reach 1mn b/d by the end of 2011. This change in tenor suggests that the bank grasps the current situation: Qatar’s heavy investment in crude production is designed to battle oilfield declines; little boost in output is expected over th...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Fertilizer Boost For Algeria’s Battered Petchems Industry
...hylene throughput had been on a downward trajectory since 2006 and most units were shut down in 2011 (see chart). The plant had the capacity to produce 120,000 t/y of ethylene, 48,000 t/y of low-density polyethylene (LDPE), 130,000 t/y of high-density polyethylene (HDPE) and 35,000 t/y of PVC. El...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iraq Petchems Exports Possible After 2020
...ntracts for the Siba and Mansuriya non-associated gas fields in the Western Desert, has spoken of rising costs of drilling at Mansuriya because of the heightened security risks. Of the four gas fields awarded in the lacklustre 2011 auction, Siba is expected to start production late this year or early ne...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Gifts Egypt Oil
...iro. Cutting energy subsidies has been an official government objective since the beginning of the Egyptian revolution in January 2011. Failure to introduce cuts in these subsidies and lower the budget deficit proved to be the stumbling block in the negotiations with the IMF over a $4.8bn loan to Egypt in...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi-Iran Relatons On The Mend?
...e first high level contact between Riyadh and Tehran since the 2011 start of the Arab revolutions that exposed deep rifts within the Arab world, the ripples of which are still being felt in the Gulf region today. The collapse of Hosni Mubarak’s regime in Cairo forced Saudi Arabia, which prefers qu...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Aramco Annual Review: Gas Record, Oil Down
...10 2011 2012 2013 ‘13vs’12 (%) RESERVES (re...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran: Hope All-Pervasive, But Is It Justified?
...der the previous administration stand out. Mahmoud Reza Khavari, managing director of Bank Melli, Iran’s largest state-owned bank, fled the country to Canada in late 2011 in a $2.6bn embezzlement scandal. His alleged fraud involved the use of forged documents to obtain credit from at least seven Ir...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.50 100.00 100.21 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Turns Up The Heat On Chinese State Energy Giants
...ntractor,” he said. “Due to the Chinese contractor’s failure to follow through on its commitments…the order to end its contract in the development of South Azadegan will be issued.” CNPC was awarded the $2.5bn contract in March 2011 (following an October 2009 MoU) to develop the field under a two phase de...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Syria: Subsidies Hit $1Bn; ‘Losses’ At $22bn
...vernment spent S£40bn ($268mn at the official exchange rate of $1=S£149) on energy subsidies in the first quarter of 2014; over $1bn on an annualized basis. The minister estimates total losses in the hydrocarbons sector since the beginning of the uprising in March 2011 at S£3,202bn ($21.5bn) – S£2,...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Iran Targets Joint Fields For 1Mn B/D Capacity Boost
...12, Iran’s crude oil exports have taken a significant hit, falling to as low as 800,000 b/d in October last year. This is down from an average of 2.5mn b/d in 2011. The country’s oil output also took a hit as a consequence of the sanctions, falling by around 1mn b/d since end-2011 levels. Iran’s oi...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...wait’s Top 3 Crude Buyers, 2011-14 (‘000 B/D)...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Israeli Offshore Gas Eyes Egyptian LNG Terminals
...yptian gasfields, has an offtake agreement for a further 1mn t/y. Spain went from being the dominant customer for Egyptian LNG in 2011 – when it took close to 30% of total volumes – to receiving zero for 2013 (see table). Houston-based Noble has a 36% of Tamar and is operator, Israel’s Delek Gr...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tupras Boosts Turkish Conversion Capacity
...mbined nameplate capacity of 562,000 b/d. Total output for 2013 dipped slightly to 442,000 b/d, but distillates output increased at the expense of fuel oil – to 68.5% of total output in 2013, from 65.3% in 2012 and 64% in 2011 (see table). Diesel output last year hit a record 115,300 b/d, whilst jet fu...
Volume: 57Issue: 19Published at Fri, 09 May 2014