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Shuweihat S2 Inaugurated As Abu Dhabi Expects Demand Growth
...rrently a partner in an independent power producer (IPP) project under development alongside Shuweihat S2. The Shuweihat S3 plant will have capacity to generate 1.6GW of electricity and is expected to start up in March 2014. Adwea is also studying bids for an IWPP to be built alongside an existing power and wa...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
IEA, OPEC See Deeper Cuts In 2014 Call On OPEC
...OPEC IEA, OPEC See Deeper Cuts In 2014 Call On OPEC Stronger non-OPEC crude oil supplies are set to sideline OPEC supplies by even more than previously thought, despite a predicted resurgence in world oil demand growth to levels last seen in 2009, the International En...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
2014 Presidential Elections Dominate Algerian Politics
...ALGERIA 2014 Presidential Elections Dominate Algerian Politics Three issues are dominating the present Algerian political scene: A power struggle between the supporters of Algeria’s president and the heads of the Algerian State Intelligence Service (DRS); the growing th...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Iraqi Budget Projects Record 2014 Expenditure
...IRAQ Iraqi Budget Projects Record 2014 Expenditure Iraq plans to spend a record ID174,600bn ($149.2bn) in 2014, up 26.1% from ID138,425bn ($118.3bn) in 2013, according to the draft federal budget drawn up in September by the Ministry of Finance. The draft, which has re...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
World Bank Sees Decline In Post-Arab Spring MENA Growth
...velopments and Prospects’ report. Post-Arab spring upheavals “continue to dominate economic activity and near term prospects.” The region’s economic outlook for 2013 and especially 2014 is shrouded in uncertainty and subject to a variety of risks, mostly domestic in nature and linked to political in...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Iraqi Deputy Prime Minister Warns On KRG Exports
...rket for our additional crude production…. (SOMO Director Falah al-‘Amri said Indian requirements for 2014 are likely to be more than the current 400,000 b/d, because some companies have requested more, but the exact volume is not known.) Q: What about long-term deals? A: Iraq normally ma...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
New Lebanon Bid Round Delay
...LEBANON New Lebanon Bid Round Delay Lebanon’s caretaker Minister of Energy and Water Gebran Bassil says international oil companies (IOCs) have an additional month to submit their bids for rights to explore Lebanon’s offshore. The new deadline of 10 January 2014 follows an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Jordan Receives 51 Applications For ‘Amman Products Terminal
...JORDAN Jordan Receives 51 Applications For ‘Amman Products Terminal Jordan’s Ministry of Energy and Mineral Resources has announced that 51 companies and consortia have applied for prequalification to build a strategic products reserves terminal near ‘Amman during 2014-15. Mo...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...owth by 0.13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in eq...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Challenges To KRG Political Stability
...ections in the spring of 2014. A negative Kurdish response will mean an indefinite postponement of the federal elections. A second matter requiring Mr Barzani’s attention is the question of relations with Kurds in the neighboring states of Syria, Turkey and Iran and whether the time has come to ca...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Majors Look To Cling On To ADCO Stakes
...bid by state-owned ADNOC, their 2% in ADCO translates into 36% of total production. Regardless of these percentages, the stakes are high and the Abu Dhabi authorities are keeping their legacy foreign oil operators on tenterhooks as they consider options ahead of contract expiry in January 2014...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Algeria’s 2014 Draft Budget Ups Deficit By 12.4%
...ALGERIA Algeria’s 2014 Draft Budget Ups Deficit By 12.4% Algeria’s 2014 budget indicates a deficit of AD3,438bn ($43.6bn at $1=AD78.8), up 12.4% on 2013. The 2014 deficit will represent 18.1% of GDP, up from 12.8% for 2013. The draft law was presented to parliamentary co...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
IMF Downgrades MENA Growth Forecasts
...REGIONAL IMF Downgrades MENA Growth Forecasts Real GDP growth in the MENA region is expected to decline to 2.1% in 2013 from 4.6% in 2012, before rising to 3.8% in 2014, according to the IMF latest six-monthly World Economic Outlook released on 8 October. The 2013 pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Kuwait Finance Minister Calls For Leaner Public Sector And Reforms
...10 2011 *2012 *2013 (P) 2014(P) Oil and gas exports ($bn) 82.6 48.9 61.8 96.7 11...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in equity pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Iraqi September Exports Fall 500,000 B/D With Basra Maintenance
...rmal levels by the end of the month. Iraq’s designed export capacity is set to expand to 5.6mn b/d by early 2014 once two more SPMs, each with capacity to handle 450,000 b/d, are installed and pipelines tied to a central platform. This would theoretically cater to anticipated higher ou...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Libya: ’Arusi Confident Despite Wafa Outage
...nocoPhillips remain shut. NOC has taken advantage of the forced shutdown to bring forward extensive maintenance on the cluster of Waha fields which had been due to start in 2014. Waha, is one of Libya’s key producers, though labor strikes in recent months kept output below nominal 365,000 b/d capacity even be...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
ADNOC Prepares Contingencies As Clock Ticks On ADCO Concession
...%, Shell, BP, Total and ExxonMobil each with 9.5% and Portugal’s Partex, 2%. Each of the major partners (ie excluding Partex), now has to submit bids for a slice of a redesigned ADCO consortium, which currently accounts for roughly half of total UAE production. The concession expires in January 2014...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Dubai Refinery Doubts Amid Gulf Capacity Surge
...test Dimensions International magazine says construction is expected to be completed in June 2014. Gulf Refining Project Operator (Project) Location Plan Aramco/ExxonMobil (Samref) Yanbu’, S Ar...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Morocco’s ONEE Announces 2013-17 Electricity Plan
...e 300MW Tarfaya wind farm at the end of 2014 and Spain’s Gamesa is adding 120MW of capacity at the Metline and Kchabta wind farms (MEES, 23 August)....
Volume: 56Issue: 40Published at Fri, 04 Oct 2013