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Saudi Boost Pushes OPEC April Production Higher
...vs YTD ‘13 2013 2012 2011 S Arabia* 9.66 9.59 +0.07 9.82 9.78 9....
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Libya’s New PM Faces Old Problems
...ime Minister since the 2011 overthrow of Mu’ammar al-Qadhafi. The vote was immediately contested, but seems likely to stand. Mr Maiteeq, a businessman from Libya’s third largest city Misrata, gave a televised speech the following day, in which he pledged to “improve state control and sovereignty, re...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
QPI Makes Second Canada Move With UK’s Centrica
...int oil and gas projects in Canada in 2011. After the latest deal, QPI and Centrica’s interests in the Western Canadian Sedimentary Basin are fully aligned. In a statement, Nasir al-Jaidah, CEO of QPI, said: “We are pleased to have expanded our strategic alliance with our partner Centrica through this ac...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
SABIC Targets ‘Innovation And Ingenuity’
...ale cracker in the US (MEES, 12 April 2013). The report gives 2013 output for only two of SABIC’s business units: fertilizers 6.7mn tons and “metals” (steel production) 5.9mn tons. The most recent data for other units are for 2011 output: chemicals 44mn tons, polymers 11.3mn tons, innovative pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D)
... Mar-14 Feb-14 Jan-14 1Q ‘14 % of total ‘000 B/D % 2013 2012 2011 Middle Ea...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 100.26 100.21 102.02 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Palestine Moves Forward With Onshore Oil Bid Round Amid Difficult Politics
...ile the Meged-5 well initially produced about 800 b/d when it came online in 2011, it averaged just 400 b/d over its first two years. The geology is challenging for a small operator with low technical capabilities like Givot Olam, as the carbonate rock containing the targeted reservoir is poor; co...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Petro Rabigh, Chemanol Restart Offline Units
...rivatives – for an undisclosed period in 2015 for testing and inspection. This will be the plant’s second such shutdown since 2011, although the company says a five-year interval is typical for the industry. Petro Rabigh was hit last year by two utilities outages that necessitated repair and maintenance work on...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Egypt: A Revolution Undone
...EGYPT Egypt: A Revolution Undone This week’s mass death sentences against political opponents have made it obvious that the army has reversed the course set by the 2011 revolution. But the military leadership has inherited the problems that ended Mubarak’s rule, and it is cr...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 99.42 102.02 103.97 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Tripoli Touts Progress In Face Of Security Challenge
...e Mellitah gas plant which left one guard dead, Dr Berruien said security problems have been exaggerated. The drilling of 19 exploration and appraisal wells, and acquisition of “more than 2,000 sq km of (3D) seismic” since October 2011 is proof oil companies can do business in post-revolutionary Li...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Abu Dhabi Habshan Gas
...ortage. Nitrogen Injection GASCO is preparing to inject 600mn cfd of nitrogen by mid-2014 into Habshan wet gas field, and in doing so recover the same volume of gas – currently used for reinjection – for delivery to Habshan 5 (MEES, 19 September 2011). Currently, most of the heavier ‘field condensate’ is...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
ADNOC Pushes To Own Faulty Hormuz Bypass Pipeline
...ased around 1mn barrels of liquid fuel storage at Vopak Horizon’s terminal. Aramco Trading, founded at the start of 2011, is Saudi Aramco’s refined products trading arm. Saudi Aramco and Shell are likely hoping to target the Asian market and take advantage of Fujairah’s strategic po...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Libya Eyes $80bn Downstream Drive
...chnologies.” Libya’s only current foreign downstream joint venture, the 50% stake of Dubai’s Al-Ghurair group in Ras Lanuf, has not been a happy one. Under the terms of the 2009 investment, Al-Ghurair was to invest $2bn in modernizing and expanding the plant. But a combination of factors, most notably the 2011 ci...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
EU Renews Sanctions On Syria
...y that Syrian production of oil had fallen to only 20,000 b/d, that is to say a mere 5% of the 380,000 b/d Syria was producing before the start of the civil war in March 2011. In early May Mr ‘Abbas estimated Syrian crude production at 70,000 b/d (MEES, 10 May). This has forced his country to...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Saudi Aramco: 2012 Production Rises, Capacity Steady
... SAUDI ARABIA Saudi Aramco: 2012 Production Rises, Capacity Steady Saudi Aramco’s 2012 Annual Report, released on 27 May, shows crude production hitting a record 9.51mn b/d, up over 440,000 b/d on 2011’s previous record. Gas output of 10.7bn cfd, up 9% on 2011, is al...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
IMF Sees Positive Economic Developments In Iraq
...12 from $1,300 in 2004. This favorable IMF assessment comes at a time when violence in Iraq has surged to new highs and Sunni opposition to the Shi’a dominated government has become more pronounced. The IMF notes that fiscal surpluses reached almost 5% of GDP in 2011 and 4% in 2012 as a re...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Libya Faces Hurdles Despite Rebound- IMF
...12 as hydrocarbon output was rapidly restored. Inflation fell to 6%. This compares with a 62% fall in GDP in 2011. The 2012 budget recorded a surplus of almost 21% of GDP and the current account surplus widened to 36% of GDP. The fall in hydrocarbon exports in 2011 led to a budget deficit of 15.4% of GD...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Kuwait Grants Oman $2.5Bn
...rt of a $20bn GCC funding program pledged by Saudi Arabia, Qatar, the UAE and Kuwait, to extend $10bn each to Oman and Bahrain for development projects. The program was approved in March 2011 to ease tensions and promote economic development following pro-democracy uprisings (MEES, 9 May 2011...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Benchmark Crude Prices
...13 Q4 2012 2012 2011 WTI 93.61 95.11 94.97 92.09 92.98 94...
Volume: 56Issue: 22Published at Fri, 31 May 2013