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North Africa Security Special Report: Too Late To Roll Back Islamic State?
...ficials, it was the only country in the Middle East and North Africa region not to suffer from terrorism in 2014. The most recent major attack in the kingdom was in April 2011, when 17 people were killed and 25 injured in an explosion at a restaurant on Djema el-Fna, the main square in Morocco’s tourist hu...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Syrian Oil: ‘$48Bn Losses’
...SYRIA Syrian Oil: ‘$48Bn Losses’ Damascus says “direct and indirect loss” to the oil and gas sector in Syria since the March 2011 start of the country’s civil war have reached $48bn. Oil minister Sulaiman al-‘Abbas, tells local daily al-Watan that since then “terrorist groups” ha...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
S&P Junks Iraqi Bond
...GDP in 2014. S&P is also projecting public debt to rise to 65% of GDP in 2015-18 from about 39% in 2014. With the collapse in oil prices, the agency expects the current account which had an average surplus of 10% of GDP in 2011-14 to turn to a deficit averaging 3% of GDP in 2015-18. Iraq plans to...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Eni 30tcf Egypt Gas Find A Game-Changer For East Med Energy Market
...pply four LNG cargoes via Jordan’s ‘Aqaba import terminal – that is to say via a reversal of the pipeline that until 2011 supplied Egyptian gas to Jordan. Two cargoes will arrive September and two in October with Shell supplying two cargoes and Vitol and Trafigura, who have already signed-up to import mo...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Minister Outlines Iraq’s Power Sector Woes As IMF Warns On Rising Subsidies
...ys there has been a shift in the structure of Iraq’s electricity consumption in recent years. In particular, the share of government and public sector consumption has risen to 32% in 2014 from 23% in 2011. Meanwhile, industry’s share of consumption has fallen to 17% in 2014 from 25% in 2011. Ho...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
August OPEC Production: Output Falls For First Time In Six Months
...n b/d above the 30mn b/d output ceiling in place since December 2011, and close to 2.4mn b/d above what the IEA has estimated as global demand for Opec crude in 2015. The biggest individual decrease in August came in Iraq, which along with Saudi Arabia has been one of the main drivers of Opec’s pr...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Libya’s Fragile Oil Recovery Continues
...tuation threatens to instantly reverse Libya’s output recovery. Production dipped as low as 150,000 b/d earlier in the year, but had been at 1.5mn b/d last July prior to the shutdown of the eastern terminals, a remarkable recovery from the almost total outage during the 2011 revolution, and only just shy of...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Fresh Fighting Threatens Remaining South Sudan Oil Output
...minating relations between the two nations for the first 18-24 months of the South’s independence from Sudan in July 2011. Tensions eased towards the back end of 2013, only to resurface this year, following the rebel leader Riek Machar’s visit to Khartoum in July. Khartoum is yet to give any official re...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Eni Shows Its Faith In Egyptian Deepwater
...the North Port Fouad block last week (MEES, 19 September). These four blocks, together with the Shorouk block that Eni took in April last year, comprise the bulk of Shell’s former giant NEMED concession. Shell discovered gas here but quit in 2011 saying development was uneconomic. The fact th...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Saudi Arabia Defends Market Share With Asian Price Cut
...tween 2011 and 2013, they made up for the 1.6mn b/d supply shortfall, he adds, apparently referring to the loss of production from Libya and the continued absence from markets of Iranian crude, which is down by 1mn b/d from pre-sanctions level. But the situation has changed since then. Libyan oil pr...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Kuwait Seeks IOC Help To Hit Production Targets
...servoir at Burgan. A pilot program completed in 2011 yielded an encouraging boost in pressure and reduced water cut; during the first phase of development, KOC will inject 660,000 b/d of water as part of its plan to maintain production capacity at Burgan. Water injection will rise to 1mn b/d by 2020. KO...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Crisis-Proofing Middle East Oil Exporters’ Purchasing Power
...nance social welfare and infrastructure investment. The anxiety over popular discontent prompted the kingdom to increase social spending by $130bn following the ‘Arab Spring’ of 2011. Such expenses will only become more costly if alternative sources of revenue, such as manufacturing, tourism, and fi...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Benchmark Crude Prices
...13 2012 2011 WTI 92.53 93.54 92.44 95.95 102.36 103.00 98.56 98...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Libya Oil Revival Cut Short By Sharara Outage
...litical crises and strikes left oil production fluctuating since the ouster of Muammar al-Qadhafi in 2011. Libya’s production increases in recent months had defied an escalating conflict between militia supporting opposing political factions. Output rebounded after the Political Bureau of Cyrenaica (PB...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Bahrain Plans Advance
...at it expects to complete the FEED work by the end of next year. Yet, this is not the first FEED to be conducted for the refinery expansion. In 2011, Chevron Lummus Global completed a FEED study at the refinery when plans called for an expansion to 450,000 b/d. However, Bapco and the country’s Na...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Tehran Seeks Increased Power Productivity
...red], Bandar Abbas [1.28GW oil] and Shahid Montazeri [1.6GW oil] power plants.” Tehran and Moscow have been talking for some time about Russia’s Rosatom building two new 1GW nuclear power plants alongside the plant at Bushehr that is completed in 2011....
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
OPEC To Bring Down The Ceiling?
...nth total production held above the mutually-agreed 30mn b/d nominal output target, in place since December 2011. “No, I don’t think so,” Mr Badri said, on being asked if he felt the 30mn b/d production target would still be appropriate next year. “I think our production will be maybe 29.5[mn b/d] in...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Syrian Economy Permanently Degraded
...aces block-to-block, along lines foreign to Syrians as recently as 2011. The extremists of the Islamic State control large swathes of territory in the east of the country. Kurdish militias have carved out enclaves for their constituents. The regime controls the capital, the coast, and several of the ke...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Algeria Maintains High Defense Spending In 2015
....3bn) is up 9.6% on the 2014 budget in nominal terms, following a higher increase still of 15.7% over 2013. The budget allocations for defense spending surged in 2011 by 49.5% over 2010. Total expenditure in the draft bill is projected to increase by 15.7% to AD8,858bn ($112.1bn), while total re...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, July 2014 (‘000 B/D)
...y-14 YTD14 vsYTD13 vsYTD12 2013 2012 2011 2010 2009 Crude Production 10,005 +22...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014