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Iranian Crude Production Faces Continual Decline
...oduced a small amount of gas, temporarily, in an attempt to show that the sanctions have no effect, but the gas was not brought onshore, MEES understands. The official start-up date is early 2011, but later in 2011 is more probable, according to FACTS Global Energy. To Inject Or Not To Inject Ma...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Dragon Oil Expects To Miss 2010 Production Target Because Of Bottlenecks
...e trunkline and expanded CPF will be fully operational with the CPF set up to handle up to 100,000 b/d of liquids and up to 220mn cfd of gas. The outlook for 2011-13 envisages the drilling of up to 40 wells, of which five will be appraisal wells. We expect two new platforms, the Dzheitune (La...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Karachaganak Partners To Be Fined For Tax Violations
...at it sees as exceeding production targets, and recently announced that it would double its crude oil export duty to $40mn/ton beginning 1 January 2011 (MEES, 6 September)....
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Mirkazemi Upbeat On Prospects For Iranian Gasoline Exports
...the sidelines of a ceremony on 18 October to mark success “in producing gasoline by Iranian petrochemical plants” that the country’s gasoline production capacity will rise by 30mn liters/day (188,700 b/d) before the end of the current Iranian year (21 March 2010 – 20 March 2011). He said this wo...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
BSF Sees Saudi Business Confidence Recuperating In 4Q10
...s a vast improvement on 46.5% in 3Q10. While responses were weaker than those posted in 2Q10, they supported expectations of a “turnaround in economic growth,” with GDP forecasted to grow at a rate of 3.8% in 2010 and 4.2% in 2011, up from 0.6% in 2009. Less volatility in equity markets in 3Q10 co...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
South Sudan Announces Plans For Transitional Government
...ansitional government and draft its own constitution if its residents vote to secede in a referendum scheduled for 9 January 2011. In a statement released by the oil-rich region’s ruling party, the Sudan People’s Liberation Movement (SPLM), the call for a constitutional convention would be made within a mo...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Lafarge Starts Up Syria’s First Private Cement Plant
...s started operations at a local plant that is expected to attain its annual full capacity of 3mn tons/year in early 2011. The new plant is expected to meet Syria’s shortfall in cement production and is the largest private sector investment in the country to date. Last year, Lafarge Cement Syria ob...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Turkey Waives Right To Export Azerbaijani Gas
...ssia, Iran, and Azerbaijan and LNG contracts with Algeria and Nigeria. The country’s natural gas consumption is expected to reach 36-37 bcm/y during 2010, and 40 bcm/y in 2011, Botas Chief Executive Fazil Senel, told Reuters on 14 October. Turkey’s Natural Gas Sales And Purchase Ag...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
OMV In Talks With Dogan Holding For Petrol Ofisi Shares
...en made in Cyprus or its surrounding waters, although there are reported to be promising prospects in the Greek-Cypriot offshore Exclusive Economic Zone (EEZ). ExxonMobil is to take delivery of Transocean’s Deepwater Champion drillship in the first quarter of 2011 once construction is co...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
OPEC Keeps Steady Hand On Tiller Amid Uncertain Times
...cession. “The global system is under a big strain,” argues the delegate. “I think some people didn’t learn the lessons of 2008,” he adds. It is noteworthy that OPEC’s global economic growth forecasts at 3.9% for 2010 and 3.6% for 2011 are more conservative than the IMF, which is predicting growth of 4....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
IEA Raises Global Oil Demand Forecast For 2010-11 By 300,000 B/D
...0,000 b/d its global crude oil demand forecast for 2010 and 2011, saying the revision from last month is “largely the result from new data for July and August showing much stronger than expected third quarter 2010 readings (up by 900,000 b/d versus our previous report), most notably in the OECD.” The IE...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
EIA Raises 2010 Demand Growth Forecast, 2011 Unchanged
...Middle East Economic Survey VOL. LIII No 42 18-Oct-2010 EIA Raises 2010 Demand Growth Forecast, 2011 Unchanged The Energy Information Administration (EIA) of the US Department of En...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Kabyldin Says KMG Will Cover Investment Needs To 2014 Via Loans
...dernize its three oil refineries and another $4bn for the next four years in order to sustain its current running expenses. According to Bloomberg, KMG has $11bn of bonds and loans outstanding, with peak debt payment of $2.7bn in 2011. Mr Kabyldin noted that the main reason for rejecting the IPO option is...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Gazprom, Transgaz Sign MOU on South Stream
...tended to the areas of electricity and offshore oil and gas exploration and production. If the result is positive then a decision on creating a South Stream Romania joint venture will be taken by March 2011 at the latest, in ways “that optimize the overall project,” RIA Novostiquoted Mr Miller as sa...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Shah Deniz 2 Stage Two Will Not Supply Gas Till 2017
...nner of the SD2 tender will not be taken before June 2011 at the earliest. The three major consortia battling to secure SD2 gas have confirmed that the initial round of talks started in late August. The most optimistic scenario is that all three will pass through the preliminary phase and will be sh...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Egypt Launches 2010 Bid Round With 7 EPSA Licenses
...mprising seven exploration and production service agreements (EPSAs) for blocks in and around the Gulf of Suez, state-owned General Petroleum Company (GPC) has announced. Bids for the blocks are due by 20 February 2011, with information regarding the acreage available from 17 October. The blocks on of...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Shahristani: ‘Ahdab Dispute Solved’
...rst of three 900,000 b/d capacity single point moorings in the Gulf should be installed by the end of 2011, with the second to follow six months afterwards and the third to by end-2012, Dr Shahristani said. The project received cabinet approval earlier this month (MEES, 4 October)....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Samba: OPEC Should Show “Sustained Restraint” As Demand Growth Slows
...periencing a double dip recession in the near future has lessened, though it will be affected by a “nagging slowdown” in developed economies, Samba Financial Group has said in a new report. In its latest edition of Economic Monitor, the bank projects global GDP growth of 4.3% in 2010 and 3.9% in 2011. With th...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Syria Inaugurates Oil And Gas Training Center
.../50 joint venture between GPC and INA Naftaplin of Croatia. The plant will have a capacity to produce 3.7mn cmd of sales gas, 180 tons/day of LPG and 12,000 b/d of condensate and crude, and was due to come on stream at the beginning of 2011 (MEES, 2 August). ...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Dubai Denies Local Airline Get Preferential Treatment
...Afghanistan, whose mission there does not end until 2011, with Canada now expected to make use of bases located in Cyprus, Pakistan and Germany for the remaining few months of its obligations....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010