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Feedstock Questions Remain As Aramco, Dow Commit To ‘Largest’ Ever Petchem Project
...pire at the end of 2011. A New Environment “You know all the Saudi industrialists have looked upon this Dow deal as excellent news. Why would Dow sign for $4/mn BTU?” argues one industrialist. “I really can’t see why the Kingdom would lose its comparative advantage and destroy its industry,” he co...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Egypt Grapples To Support Energy Sector; Reshuffle Delays Musturud
...e economic relations with Egypt are deteriorating. Israel needs to search for alternative sources of energy, the minister said. State-owned Egyptian General Petroleum Corporation (EGPC) will invest $1.2bn in the current fiscal year from July 2011 to July 2012 (MEES 25 July). It intends to drill 18...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Gulf LNG Producers Facing Greater Competition From Australia In Asia-Pacific
...sin LNG prices. Qatargas – Major LNG Contracts (as of July 2011) Date Buyer(s) Volume (Mn T/Y) Start Date Term (years) Status Ma...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Egypt’s New Finance Minister Faces Fiscal Policy Challenges
...dget deficit, but this was rejected by the ruling military council, which was concerned about building up debts. The fiscal 2011-12 budget was originally conceived with a wider deficit, set at 11% of GDP, but after the government turned down soft loans from the IMF and World Bank (WB), this wa...
Volume: 54Issue: 30Published at Mon, 25 Jul 2011 -
Iraqi Gas And Power Emerges As Critical Sector
...pital investment to kick-start the economy. Capital expenditure will grow to 40% of the budget in 2014 and 50% the following year, compared to 2011’s 31%, Mr Abadi predicts. However, any economic development will not work without electricity, the lack of which currently costs the Iraqi economy an es...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iran At A Crossroads As It Faces Political And Economic Challenges
...wns. A consumer in north Tehran reckons that prices have doubled in his supermarket between December 2010 (when the subsidy reform bill was launched) and June 2011. The price of bread has recently gone up by 25% after rising four times earlier in the year, and the price of some products, such as ve...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iraq Needs To Triple Power Capacity To Meet Short Term Demand Growth
...coming increasingly dependent on private sector power generation. The country’s supply averaged 6.403gw in the first quarter of 2011, according to the US’ Special Inspector General for Iraq Reconstruction (SIGIR). Capacity had steadily climbed from the beginning of 2008 through September 2009. Fr...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Shell, Baghdad Poised For Gas Breakthrough
...,000 b/d Diwaniya refinery should be put in place, giving Iraq domestic refining capacity of 680,000 b/d, some 140,000 b/d higher than at the beginning of 2011 (MEES, 17 January)....
Volume: 54Issue: 28Published at Mon, 11 Jul 2011 -
OPEC, IEA Supply ‘Surge’ Fails To Subdue Oil Prices
...5,000 b/d, their highest level since June 2009 (MEES, 4 July) OPEC Crude Oil Production June 2010 – June 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Target Jun May Apr Mar Feb Jan Dec No...
Volume: 54Issue: 28Published at Mon, 11 Jul 2011 -
Project Finance At The Crossroads
...ants are built, three are to start in 2011 and 131 are under construction. Coal‐to‐chemical production reached 24mn tons in 2010 with a gross value of $1.37 trillion, and production is expected to reach 106mn tons/year by 2020, he said. This is something that Saudi Arabia, with its cheap gas, did no...
Volume: 54Issue: 28Published at Mon, 11 Jul 2011 -
Kuwait’s SPC Wants 530,000 B/D Al-Zour Option, Parliament Starts Shell Probe
...stead of Dhahran. The front end engineering design (FEED) has already been completed on the Saudi side of the border. It will be completed on the Bahraini side by the end of 2011 – it was restarted due to the original route’s passing through private land. Bahrain also takes 150,000 b/d (50% of crude ou...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Questions Raised Over Lebanon’s First Licensing Round
...arter of 2012,” Mr Basil announced. This is slightly delayed based on the schedule suggested last year, which anticipated Lebanon’s inaugural offshore exploration bid round being launched in October 2011 (MEES, 29 November 2010). “It might look like a complicated, lengthy and time consuming procedure fo...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
ADNOC’s New Chief To Focus On UAE Fuel Crises
...power, Abu Dhabi Water and Electricity Company. Abu Dhabi also supplies electricity and sometimes gas to the northern emirates, whose demand is expected to rise from 1.92gw in 2011 to 3.37gw in 2015. The northern emirates have faced power and gas shortages in previous summers, and in June ex...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Kramer: South Stream Promises Stable And Predictable Gas Transit
...tensifying dialogue between the stakeholders, so I could say that I am very optimistic that a shareholders’ agreement for the offshore can be completed in 2011. Q: Are there any more companies that have so far expressed interest in joining South Stream? A: When you try to finalize your first joint ve...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Growing Interest In Levant Offshore Prospects
...ock 12. Lawson Freeman, senior vice president of Noble Energy’s International Division, told the Levant Energy Forum 2011 in Nicosia on 23 June that Noble intends to start drilling a natural gas prospect on the Block 12 during the fourth quarter of this year and that it would take about two months to...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Politics Poses Main Challenge To Lebanese Offshore Exploration
...tends to hold an offshore licensing round in 2011, yet there remain a number of important procedural steps that the government must address that could become subject to Lebanon’s unique political circumstances. Speaking at an energy conference in Nicosia on 23 June, Mr Sinoria referred to Lebanon’s hy...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Fuel Shortages Hit the UAE, Threaten Power Supplies
...soline. Last year it began to phase out gasoline subsidies. In April, ENOC said it expected to spend $735mn in 2011 on fuel subsidies – 44% more than it spent in 2010. ENOC CEO Sa'id Khouri said last year that the company needs oil prices at about $40-45/B for it to break even on gasoline sales. In Ja...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
OPEC Secretariat Warns Of Danger Of Supply Inaction
...te: totals may not add up due to independent rounding. OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q11 2Q11 3Q11 4Q11 2011 (a) World Oil Demand 86.77 87.36 86...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
OPEC Talks Collapse In ‘Worst’ Meeting
...asures that will help to calm the market,” Mr Tanaka continued. Opponents of the Saudi-led initiative pointed to high stocks as reason not to hike output. “Inventories are the highest for five years,” argued one delegate, adding that in his view demand would be no higher in 2011 than it was last ye...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Salih Flown To Saudi Arabia After Attack On Palace
...edit have stopped supplying Yemen due to our inability to pay, Mr 'Aidarus said. Most output of 110,000 b/d Light Marib crude remains shut in after the explosion. “In Yemen, production has been stopped since mid-March 2011 due to an attack on the Safer export pipeline,” OMV official Sven Pusswald te...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011