- Sort by:
- Score
- Published ▼
-
Gulfsands To Maintain Presence In Syria
...syria Gulfsands To Maintain Presence In Syria Gulfsands Petroleum announced on 3 April in its 2011 audited results that it will maintain a presence in Syria in full compliance with the EU sanctions, despite its declaration on 11 December 2011 of force majeure under its production sh...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Yemen’s Ailing Economy To Receive Further IMF Aid
...pport the Yemeni recovery program following a prolonged period of political turmoil. “A year long political crisis and civil unrest have taken a serious toll on the Yemeni economy, endangering the humanitarian situation,” Ms Shafik said. “Economic activity fell sharply in 2011… Damage to a key pi...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
EGPC Needs $1.1Bn Per Month For Import Of Petroleum Products
...the 2011-12 budget is widening from original estimates, with the subsidies for energy rising to E£120bn ($19.9bn) from E£95bn ($15.7bn) when the budget was first unveiled. The Egyptian economy has suffered in the aftermath of the January 2011 revolution and its foreign exchange reserves have fa...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
AOC Again Delays Egyptian Production Start-Up
...untry’s ongoing budgetary crunch. AOC receives a declining share of production from the Khafji crude from the offshore part of the Kuwait/Saudi Arabian Neutral Zone under a 20-year sales and purchase agreement – 37,000 b/d for the year to March 2011 was less than half the 2009-10 figure (81...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Iran Restricts Imports Of Foreign Goods
...the case of the textile industry, with adverse effects on unemployment. Also the high cost of utilities after the first phase of the withdrawal of subsidies has raised operating costs for these industries. With the tightening of western sanctions in 2011, access to foreign exchange has become more di...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Turkey Falls In Line With US Sanctions, Commits To Lower Iranian Imports
...e-third of Turkey’s final consumption in 2011. While Libya will be the main source of alternative supply, Mr Yildiz said that Ankara is already in talks with Saudi Arabia on long term and spot market purchases. He said that Turkey plans “to increase the number of countries we buy oil from and the ro...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
KRG Holds Back Exports In Escalation Of Oil Payment Row
...ate budget and the Iraqi economy,” Dr Shahristani told the conference. “The Kurdistan region did not provide oil produced in the region during the years 2010 and 2011, and this caused a deficit in the budget. The value of oil produced in 2011 reached $3.5bn, while the value of oil produced in 2010 re...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Development Of Joint Tunisian-Libyan Discovery On Hold
...rt of the block appears the more prospective and has been the focus of recent exploration efforts. Sonde drilled a successful exploration well, Zarat North-1, in January 2011, shortly before the declaration of force majeure. The Zarat field straddles the JO acreage and the Zarat permit of Sw...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
IOC To Farm Into South Sudan’s Block B Soon, Operator Total Says
...rlier (MEES, 14 July 1997) and the exit of Sudanese state firm Sudapet following South Sudan’s secession (MEES, 11 July 2011). Abu Dhabi’s state-owned conglomerate Mubadala initially showed an interest in replacing Marathon and Sudapet, but never followed up on it as Juba was intent on involving oil and ga...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Dubai Drydocks Uses Special Tribunal To Restructure $2.2Bn Debt
...s planned for completion in 2011, but hedge funds were not receptive and it dragged on. It then outlined the major terms of a new plan early in March, and said it planned to complete the process in mid-year. The company became over-leveraged when it expanded into Singapore. The company sa...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Militants Attack Yemen LNG Pipeline, Stop Production Of Four Cargoes
...quefaction plant after a similar attack was carried out on the pipeline in retaliation for the killing of a high-ranking al-Qa'ida official in an air raid on military bases in Yemen (MEES, 24 October 2011). This incident is only the latest in a long line of attacks on the country’s oil and gas in...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
New Commerce Minister Looks To Push Ahead With Cyprus’s Natural Gas Plans
...silikos power station, where 793mw of capacity was destroyed in July 2011 by an explosion at a nearby military base. Some of that power generation capacity will come back online in mid-to-late 2013. Meanwhile, Cyprus is relying on heavy fuel oil for power generation. Cyprus has been fined by the EU for it...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Work Begins On VTTI Oil Storage Terminal
...te by mid-2014. The company held a ground-breaking ceremony at the site, located in an area designated by the government as the Vasilikos Energy Center on the island’s southern coast, in January 2011 (MEES, 24 January 2011). Vasilikos is also the site proposed by US energy firm Noble Energy for an LN...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Permit Approvals Set To Boost Apache’s Egyptian Production
...th Libya. The approvals indicate that Egypt’s oil bureaucracy, which almost ground to a halt in the second part of 2011 following last February’s ouster of former president Husni Mubarak, is getting back into gear. A senior figure at Apache in Egypt tells MEES that whilst some of the recent de...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Egypt And IMF Hold More Talks On $3.2Bn Loan
...F delegation about this the lack of transparency in the budget. Egypt’s economy has suffered from the year of turmoil since the uprising began in January 2011, which saw a fall in tourism income and decline in the foreign currency reserves of the country to $15.7bn at the end of February 2012 (MEES, 12...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Yildiz Denies Notification Of US Sanctions On Turkey Over Iran Imports
...cember 2011 (MEES, 2/9 January). The State Department official reportedly said that “the assessment of which countries could be subject to the sanctions was a dynamic process and that other countries could be added or dropped as additional information becomes available.” The list of countries to...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
ILDC Energy Plans Drilling In Myra And Sarah Blocks This Summer
...ril and mid-May. Israel’s Petroleum Supervisor has extended the consortium’s work permit to a deadline of 15 June for the start of drilling in Myra. ILDC Energy contracted the Homer Ferrington in July 2011 (MEES, 11 July 2011). Drilling targets on the two blocks are thought large enough to hold a co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Kuwait Appoints New CBK Governor
...om Emory University, Georgia. Dr Hashil, 37, joined the CBK in 2004 and has served as Deputy Governor at the bank since his appointment in 2009. He was also a member of the Kuwait Stock Exchange Committee from 2008 to 2011, during which time the country decided to privatize the stock market. Ac...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011
...oman IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011 Real GDP growth is estimated to have reached 5.5% in 2011, up from 4% in 2010 and 1.2% in 2009, driven by increasing government spending and higher oil prices, the IMF said on 26 March in an Article IV co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
QP And Shell Appoint RBS To Advise On $6.5Bn Petrochemical Project
...ns/year monoethylene glycol plant, a 300,000 t/y linear alpha olefins plant and another olefin derivative unit (MEES, 12 December 2011). Qatar, the world’s biggest LNG exporter, is trying to further develop its petrochemical sector and recently announced that QP and Qatar Petrochemical Company (QA...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012