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Algeria’s South West Gas Project Delayed To Late-2016
...scussions related to the finer points of the July 2011 development plan have been ongoing “for some period of time… six months ago, I would have said that it close to finishing…but is always one week more. …we still have some small differences on how to split the rent,” Total boss Christophe de Margerie sa...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Qatari Condensate Production On The Rise
...ojects left, leaving only the downstream sector as an opportunity. Qatar Base Case Condensate Supply 2011 2012 2013 2014 2015 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
POGC And Sonatrach Step Up Libyan Exploration; Others Wait On Sidelines
...d Production Agreement framework, known as EPSA-IV. As part of the 2008 award POGC committed to spending $108mn drilling at least eight wells. The company shot initial seismic in 2010 and had been about to kick off a drilling campaign in February 2011 when the Revolution got into full swing. The co...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
South Sudan Oil Restart Pushed Back
...other this week after Juba was forced to delay its long-awaited oil production restart on account of some new security-related demands it says Khartoum has made. South Sudan, which broke away from Sudan in July 2011, took the unprecedented decision to shut down its near 350,000 b/d of oil pr...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Washington Likely To Maintain Global Energy Policy Commitment
...sessing the impact of an expected 1.25mn b/d drop in OPEC crude demand next quarter (see table). An upward revision to the view on OPEC NGLs and non-conventional supply dating back to 2011 prompted a downward revision to the MOMR’s projection for OPEC crude demand. This Call on OPEC is projected to...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Benchmark Crude Prices & Saudi Arabia - Economic Data
...12 2011 2010 WTI NA 86.28 85.99 89.57 94.69 92.21 93.64 95...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
IOOC Taps NDF To Finance Upstream Projects
...ntinued operation of the Forouzan, Reshadat and Hengam fields and is expected to provide another $500mn for the development of Farzad A gas field. In November 2011 IOOC signed a heads of agreement with Petropars for the $4bn development of Farzad A. Mr Zirakchianzadeh also announced the signing of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Cyprus Eyes Gas Pre-Sales To Plug Finances
...ceptable. Given a 2011 GDP of €17.5bn, Nicosia would not be allowed to borrow more than €21bn, leaving it with a €7bn funding gap. Total benefit from privatization of publicly owned companies would probably not exceed €1-1.5bn, and a 30%-40% haircut by existing bondholders is by no means assured, making fo...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
MENA Active Drilling Rigs
...12* October 2012 breakdown* Oct-12 Sep-12 Oct/ Sep Aug-12 Oct-11 2012/ 2011 Oc...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Iran Nuclear Plant Shut Down, UAE Gauges Impact Of Korea Safety Scam
...rrently on hold (MEES, 7 September). Iran Nuclear Power Plants Location Capacity (MW) Status Bushehr 1,000 Start-up September 2011. Reached full capacity September 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Egypt And IMF Agree Terms For $4.8Bn Loan
...EGYPT Egypt And IMF Agree Terms For $4.8Bn Loan By Basim Itayim Egypt and the International Monetary Fund (IMF) have reached a preliminary agreement on a 22-month standby arrangement (SBA) for $4.8bn. Under negotiation since June 2011, the SBA will support th...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Kuwait 2012-13 Budget Maintains Record Spending
...ojected to rise by 47.1% over the previous year. The higher expenditure in the new budget comes on the back of an even larger increase of 19.2% in 2011-12 (MEES, 15 August 2011). Record public expenditure, and a failure to push economic reforms, prompted the former governor of the Central Bank of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Bahrain Unveils 2013-14 Draft Budget
...13 and BD3.543bn for 2014. The resulting deficits are estimated to be BD657mn for 2013 and BD753mn for 2014. Total revenue for 2013-14 will rise by 20.3% over 2011-12, while total expenditure for 2013-14 will increase by 12.8% over the two previous years. Announcing the budget figures, the Un...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
UK Treasury Renews Restrictions Against Iranian Banks
...IRAN UK Treasury Renews Restrictions Against Iranian Banks The UK Treasury on 21 November renewed its financial restrictions against Iranian banks, which have been in force from 21 November 2011, but ceased to have effect after the lapse of one year. It said all UK cr...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Kuwait’s Political Instability Worsens
...nstitutional Court about the elections, and a ruling is expected on 27 November. The court overturned earlier this year a 2011 decree by the Amir that allowed elections in February 2012, triggering the latest political crisis. When the ‘Arab Spring’ uprisings started Kuwait’s government gave cash ha...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Electric Vehicles On Their Way To Mainstream Use?
...chnology/china-to-boost-electric-car-industry_55452.html “Energy Dept Says US on Track for 1M Electric Cars by 2015,” Apr 14, 2011, reuters.com, available at http://www.reuters.com/article/2011/04/14/idUS89057392520110414 “Battle of the Batteries: Comparing Electric Car Range, Charge Ti...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Egypt Finalizes Bidding Award
...s net Egyptian production of 13,000 b/d of oil equivalent (boe/d), up from 7,000 boe/d at the start of 2011. The company plans to boost production following the approval of three pending development leases which it is hopeful will come through before the year end (MEES, 12 October). Dana’s Egypt co...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
OPEC Role Steady Amid Rapid Change In IEA Outlook
...erage IEA crude oil import price approaches $125/B (in year 2011 dollars) by 2035. The study’s Current Policies scenario assumes the implementation of no policies adopted after mid-2012, while the 450 Scenario (MEES, 14 November 2011) assumes policy action to limit the long term global temperature in...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Benchmark Crude Prices
...12 Q2 2012 2011 2010 WTI 85.45 85.99 85.88 89.57 94.69 92...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Repsol Strikes Gas In Algeria
...oduction heartland. The Tihalatine South-1 well flowed at 3.7mn cfd at a depth of 1,070ms in the Ordovician shale reservoir. Appraisal work will be carried out by the consortium to assess the size of this discovery. Exploration began in July 2011 with the acquisition of 2D and 3D seismic da...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012