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Ankara Eyes Turkmen Gas
...scussions have been ongoing under EC and US supervision since 2008, the pace of the negotiations has picked up since September 2011. But Azerbaijan may be less keen to promote the TCGP option if it sees that this is not gain political leverage in its continuing dispute with Turkmenistan over the Kyapaz/Se...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Dubai 2Q Electricity Demand Up 3.8%, Says DEWA
...rengthen the infrastructure and meet the growing demand of all sectors on electricity and water.” DEWA operates 10 power plants, with a combined generating capacity put at 8.721gw for 2011, up from 7.361gw in 2010. Last year total power consumption was 34.606gwh, compared with 33.742gwh in 2010. In August DE...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
World Bank Welcomes Iran Subsidy Cuts, Foresees Sanction Woes
...creased state savings by $44bn in 2011 and $53.8bn in 2012, according to Iranian 2012-13 budget projections. The government paid out $33bn in direct cash handouts to the lowest and middle income classes last year. And according to the budget’s provision for this year it is expected to pay $40bn in cash re...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Oman Eyes $110Bn Upstream Investment
...d will gradually ramp up to 40,000 b/d. Harweel, which came on stream in the second quarter of this year, is producing 25,000 b/d and ramping up. At more than 70,000 b/d, Marmul achieved in 2011 its highest production in its 30-year history. While these projects suffered start-up delays, PDO was ab...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Saudi Aramco ‘Restores’ Order After Virus. RasGas Also Hit
...itical production and exploration systems as “isolated networks”. Nevertheless, 30,000 impacted workstations (Saudi Aramco’s 2011 Annual Report gives a total staffing of 56,066) is no minor issue for a company whose operational integrity is so central to both Saudi Arabia’s and the global economy’s we...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Iraqi Output Set For Fresh Records But Challenges Pile Up
...479 0.413 1.892 3.390 0.963 4.353 52.238 75.63 2011 Avg 1.711 0.455 2....
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Saudi LPG Prices Raised For September Deliveries
...tane Change Propane Butane Change Propane Butane 2010 1 Jan 740.00 735.00 2011...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Algeria Details Power Generation Capacity Expansion Plans
...me period. The expansion plans follow a recent series of outages as peak summer demand hit new records. Demand hit a record 10.06gw on 4 August, more than 14% over the 2011 maximum. However, supply was unable to keep pace, forcing Sonelgaz to instigate a series of rolling power cuts with co...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Kuwait Realizes $47Bn Budget Surplus
...er. Public expenditure meanwhile was around KD17bn ($60.2bn), some 12.4% below the KD19.4bn ($69.7bn) initially projected by the 2011-12 budget (MEES, 26 March). “It is a record surplus. Ninety-five per cent or thereabouts of revenues come from oil, and oil prices have been very well supported ab...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Kufpec Expands Australian Presence With Offshore Oil Concession Award
...2011, and four assets that are still in the development stage. It also holds a 7% stake in the $29bn Chevron-operated Wheatstone LNG project in Western Australia, which in May this year reached a deal to sell upwards of 80% of its output to Japan’s Tohoku Electric Power Company. First gas, ac...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Qatar Petroleum JV Looking To Export US Shale Gas As LNG
...an to build a 15.6mn tons/year capacity LNG export facility adjacent to its existing Golden Pass LNG receiving terminal. Nick Wilson writes. The Golden Pass receiving terminal was opened in 2011 to import up to 15.6mn t/y of LNG from Qatar. The Golden Pass Products joint venture (QP 70%, Ex...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Cyprus Seeks Short Term Gas Deal With Israel
...cember 2011, can be developed to supply the island. Cyprus is keen to arrange an interim solution to its urgent natural gas needs as soon as possible. It currently has the highest electricity charges among European Union (EU) member states as it relies entirely upon heavy fuel oil and diesel for power ge...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Mauritania Looks To Offshore Gas To Fuel Its Energy Future
...kely near term option, with development plans envisaging tying back crude production to the Chinguetti FPSO (the 1.6mn barrels capacity Berge Helene). Chinguetti is 80km offshore in 900ms of water. Tullow in October 2011 received 18-month extensions for the portions of its PSC A and PSC B li...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
CGES Sees Crude Prices Rising As Buyers ‘Prepared To Pay A Premium’
...r prompt oil.” Global crude inventories fell sharply in 2011 and have only been partially rebuilt during the first half of this year, CGES said, adding that market tightness has been “exacerbated by the dislocations caused by the sanctions on Iran.” It said that “delays in getting the ri...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
China’s Crude Oil Imports Rise In July, Iran Supply Down Sharply
...ina Crude Oil Imports 2011-12 2012 2011 Imports Jul Jun May Apr Mar Fe...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
KMG EP Reports Output Down In First Half, Begins Modernization
...SPIAN KMG EP Reports Output Down In First Half, Begins Modernization Kazakhstan’s KazMunaiGas Exploration Production (KMG EP) reported on 14 August that in the first half of 2012 it produced 6.057mn tons of crude oil (248,000 b/d), which is 4% less than in the same period of 2011. The decline was ma...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Egypt’s Finance Ministry Loans EGPC $600Mn
...ise the total amount of loans extended to EGPC since 2010-11 to $5.75bn, in addition to financial guarantees from the ministry to the oil sector in 2011-12. EGPC is also said to be seeking to borrow from Arab lending organizations $600mn to ease the liquidity crisis from which the corporation is cu...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iraq Denies It Is Helping Iran Avoid International Sanctions
...ayer in Iraq and the government of Prime Minister Nuri al-Maliki, especially after the withdrawal of the US army from Iraq in December 2011. Tehran is one on Iraq’s main trading partners and has plans to boost the volume of bilateral trade between the two countries from the current estimate of $11...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iran Plans 1.5GW Hydropower Capacity Addition This Year
...zazadeh said that the 1.5gw of capacity due on-line this year comprises six new units: two at the Gotvand Dam hydropower plant and four at the Siah Bisheh plant. Iran’s total power generation capacity is estimated at 53gw (MEES, 23 May 2011). ...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Russia Consolidates Its Position In Iraq Upstream Petroleum
...rmed a new consortium with KMG in October 2010, leading to winning 'Akkaz gas field with a remuneration fee of $5.50/boe. And after the withdrawal of KMG due to the delay in concluding the contract, Kogas took full control of the deal on its own in June 2011. So, for the PetroVietnam/Premier Oi...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012