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Kuwaiti Government Resigns As Political Dysfunction Grows
...aikh Sabah al-Ahmad Al Sabah reappointed Jabir Al Sabah as prime minister on 1 November and charged him with appointing the new cabinet. He has held the post since December 2011, and this will be the seventh cabinet he has headed in just six years. NEW OIL MINISTER COMING? Parliament on...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Libya: Wintershall Output Down, Dispute Continues
...mething close to capacity. The combined capacity of the fields has fallen to 80,000 b/d from 100,000 b/d prior to the 2011 Revolution, but only in 2012 did they manage to produce at this level. Production resumed on 16 September 2016 after a 10-month outage, but with only the NC-96 field operational, pr...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Total Aims To Become Mena’s Dominant IOC
...0 B/D 2010 2011 2012 2013 2014 2015 UAE 20...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Eni Touts Zohr As East Med Hub
...ope of any tie-in with Zohr. This could also provide the best hope for development of US firm Noble’s 5 tcf 2011 Aphrodite discovery – the only one offshore Cyprus to date – which runs the risk of being stranded. The geopolitics of Aphrodite development, and by extension future finds offshore Cy...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Total, Eni Slam Cyprus Port Snafu
...Total plans to drill its initial well offshore Cyprus by April. But, with this now only five months away it has still not been able to secure the use of a port as a logistics base. Previous drilling offshore Cyprus, by US firm Noble with its 2011 Aphrodite discovery, and by Eni on Block 9 in 20...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Suez Canal Sees Record Northbound Oil Shipments
...reign reserves still remain low at $23.5bn in November (after the IMF transferred part of its first tranche of $2.75bn), or about 65% of the 2010 figure of $36bn. SUEZ CANAL: NORTHERN OIL SHIPMENTS HAVE DOUBLED SINCE 2011 HITTING RECORD 2.4MN B/D IN Q3... ...WITH SEASONAL RECORDS SET FO...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Kuwait Eyes Push Into US Petchems With Award Of MEG Plant Contract
...tegrated with a 615,000 b/d refinery under development by state refiner KNPC and also a proposed aromatics project. PIC says the economic pre-feasibility study for Olefins 3 was completed in 2009 and a detailed feasibility study was completed in 2011. While the Al-Zour refinery and a clean fuels pr...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Libya’s Rising Output: Now For The Hard Part
...l company and we will follow closely what they are doing to recover operations on those fields,” he says. Elsewhere Total’s Libya situation is also one of ‘no change.’ “Offshore, we are operating Al Jurf as usual,” he said of the field that, with only a small interlude in 2011, has steadily pr...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...tensified in the aftermath of the Fukushima incident in Japan in 2011 – Taiwan is also vulnerable to earthquakes. TAIWAN LNG IMPORT PRICES EDGE UP to $6.92/MN BTU in september... SOURCE: TAIWAN CUSTOMS, MEES CALCULATIONS. ...AS IMPORT SLATE BECOMES MORE DIVERSIFIED (%) Ta...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Saudi Exports, Output Full Steam Ahead Pre-Opec Meeting
...liveries. The kingdom remains a net gasoline exporter for the year – the first time since 2011. State oil firm Aramco’s magazine Arabian Sun reports that its 245,000 b/d Yanbu refinery began receiving alkylate product on 12 October. It reports that this enables it to boost gasoline production 25% from 33...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Egypt IMF Loan Brings Short-Term Relief, But Uncertainties Lie Ahead
...e January 2011 revolution. Egypt then went to the IMF seeking a loan facility of around $3bn, which was later raised to $4.8bn, but intermittent negotiations for two years or so failed to lead to any results, because Egypt and particularly its military were not in a position to bite the bullet and ac...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Oman Power: Foot Off The Gas Despite Khazzan Progress
...readbare international project pipeline. When asked on the firm’s 1 November Q3 earnings call “Given the [cost] deflation you have seen, is it time to step up the FIDs [final investment decisions]?” CFO Brian Gilvary says “we rebuilt the company over 2011 to 2014 [with a massive sell-off of assets to fund ‘De...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Lebanon: Can New President Get The Country Moving?
...abs to Lebanon, with detrimental effects on growth. Latest IMF statistics show that Lebanon’s real GDP growth in 2011-12 averaged 4.6%, but has slumped to 1% in 2015 and 2016, and is projected to rise to 2% in 2017. This low projection for 2017 could be slightly higher if indeed the election of a pr...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Egypt Devalues Currency In Bid To Calm Forex Market
...rners of foreign exchange for Egypt, have gradually fallen since the 2011 revolution with the deteriorating security situation. Recently bilateral aid from the GCC has relatively dried up with the collapse in oil prices in the past two years. NOVEMBER 2016 PRICE HIKE FOR GAS & OIL PRODUCTS (E£/li...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
UAE Plans 3% Spending Cut For 2017
...nstruction sector in Dubai has been a key driver of non-oil growth in the UAE, although activity in this sector has slowed down in the past two years or so. According to an FT report in July, property prices in Dubai have fallen by around 25% since their most recent peak in 2014, but remain above their 2011 tr...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Libya: Could ‘Peace Deal’ Double Oil Output To 800,000 B/D?
...national politics. The conflict in Libya’s southwest dates back to before the fall of Mu’ammar al-Qadhafi in 2011, but it has since become a proxy war for the broader confrontation between the internationally-recognized government in Baida and the unofficial National Salvation Government in Tr...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Egypt Looks Beyond Current Storms To Gas-Fueled Upland
...en extensively explored by Shell, which drilled nine either unsuccessful or sub-commercial wells on its giant Northeast Mediterranean deepwater (Nemed) block between 2006 and 2011. EGYPT: KEY RECENTLY-AWARDED DEEPWATER BLOCKS ENI: NEW MODEL Eni says its success where Shell fa...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Algeria Faces Record $14bn Trade Deficit
...14 2015(a) 2015(b) $bn % 2014 2013 2012 2011 Imports 51...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Middle East To Drive Gas Growth, But Is It Sustainable?
...th renewables. But there are huge regional discrepancies – and the consensus is that outside of the US, the “golden age of gas” touted in the organization’s 2011 WEO remains a long way off. GLOBAL DEMAND DOWN, MIDEAST UP The IEA has increased its demand outlook for the Middle East si...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Saudi Crude Output Up But Refiners Put Squeeze On Exports
...3Q14 2Q15 1-3Q15 1-3Q14 2014 2013 2012 2011 2010 2009 Crude Pr...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015