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Qatargas Secures Third Japanese LNG Supply Contract of 2012
...0 2011 Not decided HOA Apr-08 PetroChina 3.0 2010 25 SPA Ju...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Turkey Turning To Nuclear Power, Counting On Coal
...wer generation by 2023, the republic’s centennial year. The disaster at Japan’s Fukushima nuclear plant in March 2011 and its repercussions forced a re-think in Ankara about nuclear power, but it now appears that Turkey’s future energy needs have convinced the government that reactor-ge...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Wärtsilä-Led Group To Build Jordan Power Plant
...om Egypt was reduced following the overthrow of the Husni Mubarak regime in early 2011 (MEES, 12 October). Wärtsilä’s partner in the project is South Korea’s Lotte Engineering and Construction. The Finnish firm noted that it has a minority interest in ‘Amman Asia Electric Power, where th...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Aramco Sees Energy Paradigm Shift
...ogram (MEES, 28 November 2011). But the problem was “misleading hype” about how quickly renewables could make an impact. “As a result there have been a lot of disappointments,” he noted. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
The Coming Wave: Global Oil Price Volatility
...uctuations without engaging in actual delivery contracts. As may be seen in figure 2, the number of oil futures contracts rose to approximately 1.6mn by the end of 2011 from approximately 450,000 in 2000. This excludes the less-transparent over-the-counter (OTC) market, where there is other major oil trading ac...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Payment Delays Turn Independents Away From Egypt
...PC) 2011/12 bid round (which, after being put back twice, closed in April) a bid failed to materialize. By its second quarter results presentation on 23 August the company had dropped almost all mention of Egypt. The 2011-12 EGPC bid round, which was launched amid post-revolutionary op...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Turkey’s Gas Imports Hit By Bombs And Sanctions
...aimed responsibility it is thought to be responsible for all four blasts. Turkey imported 3.8bcm/y through the Baku-Tblisi-Erzurum pipeline (also known as the South Caucasus Pipeline, SCP) for 2011. Some additional volumes flow via Turkey to Greece but despite this the route has been op...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Saudi Aramco Discovers New Gas Field
...ell-led South Rub΄i al-Khali Company (SRAK) appears to be potentially moving towards development phase, and even this development is for the Kidan sour gas field, discovered decades before the SRAK’s exploration program (MEES, 21 November 2011) . ...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Oil-Rich Abyei No Longer Open For Discussion, Juba Says
...adlock on the Abyei referendum on the grounds it ignored the eligibility of the predominantly Muslim nomadic people of the Misseriya tribe to vote. By way of a protocol, the 2005 CPA had originally granted Abyei a January 2011 referendum in order to decide whether it joined the South, or re...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Noble Energy Leases New Drillship For East Mediterranean
...r the well is 7,400ms (MEES, 7 May). “High well pressure and the mechanical limits of the wellbore design resulted in the suspension of drilling operations before the primary objective was reached,” Noble said at the time. In November 2011, DMSE entered a heads of agreement with the pa...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
SEC Awards PP12 Gas Turbines Contract To GE
...neration. GE has been developing fuel flexibility technologies to enable combined cycle gas turbines – which are significantly more efficient than conventional oil-fired steam boiler technology – to be fuelled by HFO. In 2011 the company commissioned a 310mw combined cycle power plant in Sri Lanka, which op...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Marafiq Extends Jacobs’ Project Management Contract
...nbu’ 2 was originally intended to be an IWPP project, but because of problems raising finance under this model, Marafiq opted for an engineering, procurement and construction (EPC) contract format (MEES, 13 July 2009). The Yanbu’ 2 PMC contract was awarded to Jacobs in September 2011 and the EP...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Donors Pledge Further $1.5Bn Aid To Yemen
...gion. Population % With Completed Secondary Education (2010) Source: UNDP Human Development Report 2011. Where Does It All Go? With the aid secured, humanitarian agencies have come out in force, calling for increased transparency in allocation, warning not en...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
EU To Discuss Turkish Position On Cyprus Offshore At December Summit
...ly aircraft carrier to the east Mediterranean in November. Turkey’s Stalled EU Membership Turkey is an applicant for EU membership but has made little progress since accession talks opened in October 2005. In its Key Findings Of The 2011 Progress Report On Turkey, released on 12 October, the Eu...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Crude Prices Gain On Better US Data, European Move To Address Debt Crisis
...ve averaged just under 18.8mn b/d, down by 0.7% compared to the similar period last year. The average world crude oil price on 21 October was $108.84/B, $2.51/B more than last week’s price and $29.49/B above a year ago. Settlement Prices For Benchmark Crudes ($/B) Date 2011 Ny...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
CGES: Oil Prices Stay ‘Stubbornly High’ Despite Sluggish Demand Growth
...e unexpectedly high rates of oil demand growth in 3Q and 4Q10,” CGES said, while OPEC failed to replace the oil lost as a result of the Libyan unrest quickly enough. And in addition to this, the report highlights that non-OPEC oil producers have been faced by a range of problems in 2011 which ha...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Algerian Draft Budget Projects Lower Spending In 2012
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 ALGERIA Algerian Draft Budget Projects Lower Spending In 2012 The Algerian draft budget for 2012 projects a 10.2% fall in expenditure compared to the 2011 supplementary budget which had raised total expenditure from the or...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Dragon Oil To Hike Production 50% By 2015
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 CASPIAN Dragon Oil To Hike Production 50% By 2015 Dragon Oil announced on 24 October that it will produce 70,000 b/d of crude by the end of 2011. It then plans to invest another $1bn over a four year period in order to re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan
...th imports having averaged 240mn cfd prior to the start of the disruptions. According to the BP Statistical Review of World Energy 2011, Jordan imported from Egypt in 2010 a total of 2.52 bcm of gas. The agreement with Jordan is retroactive to January 2011 and gives Egypt the right to reconsider th...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Egypt Restarts Loan Discussions With IMF, Waits On Further Arab Aid
...cal debts would negatively affect both the country’s balance of payments and its budget deficit. Egypt’s deficit is now forecast to hit 8.6% of GDP in fiscal 2011-12, exceeding pre-revolution estimates. That said however, the IMF is yet to receive an official request from Egypt. “We have not re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011