- Sort by:
- Score
- Published ▼
-
Suez Canal Traffic Close To Record Levels
...EGYPT Suez Canal Traffic Close To Record Levels • Revenues hit a bumper $447mn for August. Takings have steadily climbed since the start of 2009. Buoyant revenues for 2011 provided a fillip to Egypt’s revolution-ravaged economy as receipts from tourism nosedived. At $5.22bn, 2011 re...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Qatar Faces LNG Competition As Japan Diversifies Suppliers
...tar’s LNG producers, which have a production capacity of 77mn t/y, have been selling more gas to Japan since the Fukushima earthquake and Tsunami disaster in March 2011. This forced the closure of most of Japan’s 34gw of operating nuclear power plants, driving up LNG demand. Qatar sold LNG equivalent to 10...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Algeria Advances Refining Expansion With Start Of Biskra Construction
...om 22mn t/y at the start of 2011 (see table).The Arzew refinery was expanded from 50,000 b/d to 75,000 b/d late last year, whilst work to expand the country’s largest plant at Skikda by 10% to 330,000 b/d and boost diesel and gasoline production is ongoing and set for completion early next year. The pl...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Sudans Hopeful Of Border Dispute Resolution Ahead Of Ethiopia Summit
...aring of oil revenues, the position of the 1,800km border, and the division of national debt (MEES, 11 July 2011). News of the summit surfaced on the back of some comments by a Western official in which he suggested the two sides had made significant progress towards a more complete agreement to...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
New EU Sanctions Aimed At Iran’s Gas Industry
...ports. Washington is also set to renew (India) or grant (South Korea) waivers because these major Asian buyers have also limited their year-on-year crude imports from Iran by at least 20%. The steepest decline recorded so far is from Japan which has cut them by almost 40% from 2011 levels. Only China has so...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
India’s Caspian Move Counters Lost Iranian Crude Imports
...oduction in 2011 and would help the Indian company reach its medium-term goal to increase output from 8.75mn tons of oil equivalent (toe) in 2011 to 20mn toe in 2018. It would also expand ONGC’s reserves by 9%. Quid Pro Quo ONGC said the purchase “bears significant strategic importance to In...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Edison Secures $590mn Discount On RasGas LNG Supplies
...aly's offshore regasification terminal in Rovigo (MEES, 1 August 2011). RasGas also supplies Belgium's Distrigas (2.07mn t/y for 20 years), Spain's Endesa (0.8mn t/y for 20 years) and the trading wing of France’s EDF (up to 3.4mn t/y for 4.5 years). RasGas ‘Resilient’ In a statement re...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Kuwait To Save 25% Of Its State Revenue
...ctors, among others. According to statistics on the closed accounts from the finance ministry, Kuwait realized a budget surplus of KD10.205bn ($36.3bn) in 2011-12 instead of the projected deficit of KD7.334bn ($26.1bn). In fact these statistics also show that all Kuwaiti budgets since 2000 ha...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Egypt Puts Foreign Borrowing Needs At $10Bn
...d/or bonds, as well as sukuk (MEES, 6 August). Last week, the ministry issued treasury bills worth E£4bn ($657mn) with a 14.465% coupon to raise funds domestically. The minister noted that the preliminary closed accounts show that the 2011-12 budget had realized a deficit of E£170bn ($27...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Saudi Arabia Battles To Cut Power Sector Fuel Consumption
...cording to the Kingdom’s Electricity and Cogeneration Regulatory Authority, between 2000 and 2009 gas consumption for power generation grew by 94% to reach 22.1mn cm/d. In 2010, crude oil continued to command the largest share, at 40% of fuel consumption. In 2011, this decreased by 3%, while the share of ga...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Security Crisis Roils New Libyan Administration
...one thrive, argues a Libyan businessman. “Really we need to sort out this issue. It is really crippling the country,” he says. The recovery in Libya’s oil industry following last year’s civil war has been impressive (MEES, 26 December 2011). But a lack of security has become an ev...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Jordan Resumes Iraqi Oil Imports
...ude to Jordan. Jordan receives this crude under an agreement reached in June 2011 to import up to 15,000 b/d at preferential prices. This represented an increase of 5,000 b/d from the previous agreement between the two countries of September 2008 for the import of around 10,000 b/d of Iraqi cr...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Syria 'Illegally Producing' from INA's 22,000 boe/d Hayan Field
...e Hayan Petroleum Company (HPC) 50:50 joint venture with Syria’s state owned General Petroleum Corporation. MOL owns 47% of INA. Current Hayan production volumes are unclear. Production averaged 20,300 barrels a day of oil equivalent (boe/d) for 2011 but output had been in the process of...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
New Yemen Oil Minister Faces Security Challenge
...men has been in turmoil since last year’s uprising which ended with the stepping down of the former president in November 2011. Repairs At Yemen’s Marib Pipeline Complete, Oil Resumes Flow Crude oil has meanwhile began to flow through Yemen’s main crude export pipeline fo...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Gulf Tension Spurs Oil Defenses, UAE Struggles With Hormuz Pipeline
...traordinary.” The kingdom spent $33bn on US weapons in 2011, making it the world’s leading importer of US arms. Last year the US also sold missile defence batteries, radars, helicopters and fighter jets to Oman and the UAE. The US Defence Security Cooperation Agency has said it expects to sell more weapons to Qa...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
OPEC Sees Fundamentals Steady Amid Market Turbulence
...EC IEA OPEC IEA OPEC IEA OPEC IEA 2012 2011 2011...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Crude Oil Formulas/Posted Prices ($/B)
...L PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Oct Se...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Iran Claims Gas Transit Agreement with Turkey and Turkmenistan
...lmaz, who represented the NATO-member country in the recent Non-Aligned Movement summit in Tehran, discussed increasing Iranian gas exports to Turkey. They have been in an uptrend and in 2011 climbed to 8.4 bcm from an estimated 7.7 bcm the previous year. Eventually the gas could transit the extension of...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Saudi Aramco Preparing For Riyadh Refinery Clean Fuels Upgrade
...eeler SOFCON consortium was awarded a contract for the FEED and project management services in July 2011. It comprises a subsidiary of Foster Wheeler’s Engineering and Construction Group and A Al-Saihati, A Fattani & O Al-Othman Consulting Engineering Company (SOFCON). Project Scope Fo...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Syria’s PEEGT Extends Deadlines For Power Plant Tenders
...gust 2011. The deadline for Zara bidding has been put back from early July to 10 December and for the Traifawi plant the deadline has been changed from late August to end-September. According to the Syria Report of 4 September: “Although PEEGT did not provide explanations, the extensions ar...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012