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Qatar And China Strengthen Trade And Investment Ties
...heme, known as the Renminbi Qualified Foreign Institutional Investor (RQFII), was created in 2011 to allow financial investors to place some of their yuan holdings in China. The UAE joined the scheme in 2012 by signing a three-year currency swap arrangement with China, similar in size to that with Qa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...finery processing gains, grew by more than 4mn b/d from January 2011 to July 2014, of which 3mn b/d was crude oil production growth, the EIA says. During the same period, unplanned supply disruptions grew by 2.8mn b/d, it adds. Supply disruptions averaged 3.2mn b/d in the first seven months of 2014 and pe...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Egypt Secures Saudi Power Loans
...rning additional diesel and fuel oil in power plants to keep pace with rising peak electricity demand. The loans are the latest GCC move to stabilize in a country severely impacted by the Arab Spring of 2011. Saudi Arabia, Kuwait and the UAE provided $12bn of aid, including oil products, after the ou...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Jordan Looks To Slash Deficit In 2015 Budget
...rms. Jordan is currently hosting over 600,000 Syrian refugees, who fled their country after the 2011 uprising which has now morphed into a bloody war. This has severely burdened the kingdom’s economy, leading it to turn to the international community to cope with the extra cost. Traditionally Jo...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Chinese Crude Imports January-September 2014 (‘000 B/D)
...total vs2013 vs2012 2013 2012 2011 2010 MIDDLE EAST 3,577 3,135 3,...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
US Imports: Gulf Looks To Keep Share Of Shrinking Pie
...g-14 Jul-14 2Q14 1Q14 Jan-Aug ‘14 vs2013 vs2012 2013 2012 2011 2010 20...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 77.91 81.26 81.76 84.33 93.13 97.25 103.00 98...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Damascus Loses Control Of Last Key Oil Field
...,600 b/d of high-value light sweet crude in the first quarter of 2011 (that is to say before the current fighting broke out, 24% of Syria’s total 387,000 b/d crude production for the period: MEES, 16 May 2011). If confirmed, the capture of this field will cut off the Syrian regime’s access to almost al...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Oman Plans First Solar Unit Under Rural Plan
...pacity is linked to two grids: the Main Interconnected System (MIS) and the Salalah system. This year peak MIS demand is expected to reach 4.82GW, with 424MW in Salalah (MEES, 24 May). But off-grid rural demand is growing faster than in the main networks, having recorded an 11.6% increase from 2010 to 2011...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...ropean Union imposed a series of economic and oil sanctions against Tehran starting in 2011 over its controversial nuclear program. Since then Iran’s oil exports have fallen below 1mn b/d from around 2.5mn b/d before the EU ban on imports of Iranian crude came into effect in mid-2012. According to MEES es...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
The Geneva Nuclear Accord And Iranian Oil
...ude oil exports, as the US will not demand that buyers of Iranian crude reduce imports further. Sanctions have cut Iranian oil exports to an average of just 1.1mn b/d for the first nine months of 2013, down 55% on 2011. The signature of the Geneva agreement probably means that the US State Department wi...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Egypt’s Gas Crunch: Is A Quick Fix Possible?
...reements within two weeks, he added, and amend another seven. These numbers have caused some confusion in the industry. EGPC in October said it had approved the 11 licences awarded in November 2012 (MEES, 16 November 2012) following its most recent bidround, which was launched in 2011. Ganope said in...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
GCC Growth ‘Robust’ Despite Geopolitical, Economic Headwinds-IMF
...owth prospects, and also a key ‘wild card’ necessitating the strengthening of fiscal buffers. The region is also vulnerable to volatility in global financial markets and broader Middle East unrest, the IMF says. Real GDP growth fell to 5.2% in 2012 from an “exceptionally strong” 7.7% in 2011 wh...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
China Consolidates Its Position In The Iraqi Oil Sector
...d is now on the verge of involvement in a fourth. The Ahdab oilfield was its first success story, where in 2008 CNPC agreed to convert the production sharing contract signed in 1997 into a long-term service contract. Work on Ahdab started in March 2009, and by June 2011 its output reached 60...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 92.19 94 93.93 100.57 106.27 105.73 94.17 94.18 95...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Libya: A Glimmer Of Hope
...s toppled in 2011, instead piling into the power vacuum created by the revolution. Attempts by the government to co-opt the groups by hiring them for security have turned sour, and the militias have been key in preventing the centralization of power in Libya. Separatist movements in the east are pr...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Egypt Plans Nuclear Tender, UAE Progresses First Reactor
...June that Egypt was ready to invite bids, having enacted a nuclear law, established an independent regulatory body, selected a technology, developed a fuel strategy and prepared a bid specification in line with IAEA requirements. Earlier tender plans were postponed following the January 2011 ov...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
US Plays Hardball On Oil Sanctions As Iran Nuclear Talks Resume
...ey will actually still be losing money, even during this six-month period relative to the amount of oil sales they had back in 2011,” he said. The US would only “open up the spigot a little bit, for a very modest amount of relief that is entirely subject to reinstatement if, in fact, they vi...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Cepsa Boosts Asia Portfolio
...ployees. We believe that Coastal provides a tremendous foundation for furthering our E&P strategy." IPIC completed the takeover of Cepsa in 2011 when it acquired Total’s 49% stake (MEES, 8 August 2011)....
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Jordan Approves 2014 Budget, Spending Up 13%
...dget 2013 Budget **2013 Actual 2014 vs (%) 2012 Actual **’13 vs ‘12 (%) 2011 Actual ‘13 Bud ‘13 Ac...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013