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Syrian Bank Recapitalization To Cost Up to $16Bn
...rising in March 2011. At the same time Mr Mayyala attributed the recent strengthening of the local currency to a surplus of foreign exchange in the free market, from which the exchange bureaus could of late secure their foreign currency needs, rather than buying it from the CBS. In October the au...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 95.44 93.93 94.32 100.57 106.27 105.73 94.17 94.18 95...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Energy Efficiency Key To Adapting To High Prices, Says IEA
...st,” says Dr Birol. “They were $544bn worldwide in 2012, a significant increase over 2011.” He adds that Mideast governments were responsible for half the total subsidies: “Fossil fuel subsidies are bad for the country’s budget, bad for the environment, bad for efficiency, and bad for the poor. Ut...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
IEA Labels Mideast As Key Driver Of Electricity Demand Growth
...REGIONAL IEA Labels Mideast As Key Driver Of Electricity Demand Growth World electricity demand is set to increase by more than two-thirds over 2011-35, according to the International Energy Agency (IEA). The agency’s latest World Energy Outlook, published on 12...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Iran: Geneva Deadlock Breeds Talk Of Further US Sanctions
...tput and exports nosedive as sanctions have been ratcheted up over the past 18 months. Iranian crude oil output was just 2.68mn b/d in October (MEES, 8 November), down close to 900,000 b/d on its 2011 average of 3.59mn b/d; crude exports have averaged just over 1.1mn b/d over the first nine months of...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Saudi, UAE Close To Top Of World SWF Rankings
....5 2002 Oil 10 23 Iran National Development Fund of Iran 54 2011 Oil & Gas 5 33...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
IMF Downgrades MENA Growth Projections To 2.3% For 2013
...lls for subsidy reform in the MENA region, estimates that pre-tax energy subsidies – measured as the difference between the value of consumption at world and domestic prices – amounted to about $237bn in 2011. This is equivalent to half of the world’s subsidies, 8.6% of regional GDP and 22% of go...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 93.76 94.32 96.93 100.57 106.27 105.73 94.17 94.18 95...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Egypt Touts Block Awards But IOC Debts Mount
...e February 2011 revolution (and level with the second half of 2010), however August gas output of 5.43mn cfd (56.1bcm/y) remains 9% down on pre-revolution levels (61.6bcm for 2010). The gas shortage has been exacerbated by domestic consumption, which has continued to rise rapidly despite ec...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Libya: No End In Sight To Instability
...ternational oil company active in the east. Failure to achieve real or lasting increases in Libyan oil output is a common theme since July. Prior to this, Libya had surprised the oil markets by reviving output at a remarkable pace after the 2011 revolution brought production to a standstill. For much of 20...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iran Targets Oman As Future Gas Export Hub
...t negotiated the gas price yet,” Mr Zanganeh said. “We have agreed to transfer gas to Oman first, and then look for a market in the region from there.” Iran and Oman came agonizingly close to reaching a gas supply agreement in 2011, but talks broke down after the Iranian side had a sudden change of...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Qatargas Inks $7bn UK LNG Deal With Centrica
...ior 3-year agreement signed in 2011. The previous deal, worth less than half the latest, was for 2.4mn t/y. Like several of Qatargas’ recent deals, the contract does not guarantee 3mn t/y of supply; rather, Qatargas is free to send volumes to other buyers. Qatargas 4, a joint venture between Qa...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...oduction at an average of 500,000 b/d in October, up approximately 150,000 b/d on September. This increase came despite renewed protests at the country’s main oil fields and terminals. Facing the worst disruption to its oil industry since the 2011 civil war, Libya appeared to have turned a corner in la...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Analysis: Oxy Mideast Pullback Spurred By Risk-Averse US Investors
...ansition of power from father to son and there is no threat to the country’s leadership. Minor protests in Oman in 2011 posed scant threat to the country’s leadership, as well. In the UAE, where the only perceptible repercussion of the “Arab Spring” has been an outpouring of foreign aid to ailing regional al...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iran: Official Inflation 40%, Real Rate May Be Double
...re open about government finances, there could be more transparency with regard to the fund’s reserves. The NDF was established in 2011 to replace the Oil Stabilization Fund (OSF), a sovereign wealth fund which accumulated surplus oil and gas revenue....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Towards An Efficient LNG Market In The Asia-Pacific
...ntribute to that dialogue by discussing the Asian LNG market and its prospects for increased integration, efficiency and growth. The International Energy Agency (IEA) has spoken of a golden age of gas (MEES, 13 June 2011), and for good reason. We see a growing and positive contribution of gas to global en...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 94.2 96.93 97.87 100.57 106.27 105.73 94.17 94.18 95...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Regional Alliances Leave Juba In Two Minds Over Planned Oil Pipeline
...sis that it would be both shorter, and cheaper to build (MEES, 6 September). For more than two years, since the South seceded from Sudan in July 2011, the two countries’ leaders have been unable to find common ground on a wide range of issues, resulting in persistent mudslinging and accusations of...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Supply Challenge Still Alive Despite Shale Surge
...deed, domestic energy demand within the GCC is growing at an annual 5% and in 2011 stood at 200mn tons of oil equivalent. That number is expected to double in the next decade, said a senior Gulf banker. Saudi Arabia consumes 2.8mn b/d during peak consumption periods and has recently taken to su...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Legal And Operational Challenges Complicate RWE Dea Sale
...vourably to imported gas. Therefore I believe there is room for compromise,” said Mr Schlichter. Egypt’s energy sector has been suffering from tardy government decision making, a result of the political upheaval following the removal of Mubarrak in 2011 and the subsequent military coup against Pr...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013