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Benchmark Crude Prices ($/B)
...12 2011 WTI 108.04 104.81 100.64 95.79 94.75 94.17 94.42 94.18 95...
Volume: 56Issue: 29Published at Fri, 19 Jul 2013 -
Blast Shuts Egypt-Jordan Pipeline
...oups. It was not clear who was responsible for the sixteenth attack on the pipeline since the overthrow of Mubarak in January 2011, albeit the first since last July. Sinai Islamist groups have recently targeted the Egyptian army, raising speculation that the attacks were a reaction to the ou...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Iran Condemns Mounting Western Oil Sanctions
...om using oil as a political weapon; so the West should have done the same, he says. “Unfortunately, political interference in the Middle East has brought instability to the region… Since 2011, unilateral sanctions have been placed on Iran by Europe and the US,” the minister said, according to...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
OPEC Sees Fall In 2014 Call on Its Crude
...30.38mn b/d, the producer group said – just 380,000 b/d off the 30mn b/d production ceiling in place since December 2011. OPEC’s figures based on secondary sources, highlighted Libya, Nigeria and Angola as the main culprits behind the drop, accounting for 339,000 b/d of the month-on-mo...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Law Change Hands Power, Oil Revenues To Iraq’s Provinces
...oil deal in the province, around the same time. On 14 June, Tigris announced it had sold out to fellow Swedish explorer Crown Energy. While in March Geneva-based KRG explorer Oryx Petroleum announced it had done an oil deal in December 2011 with Wasit’s provincial government (MEES, 29 March). Oryx fo...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Syrian Politics Shake-Up
...abia in 2011 and is said to have since developed close ties with the Saudi leadership. He is also a prominent advocate for international arms transfers to rebel groups. His Saudi ties may help to facilitate this. Nominally, the SNC is an interim Syrian government. It has garnered significant in...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Oman LNG Posts 10% Revenue Growth For 2012
...oducer revealed in its Annual Report, obtained by MEES in advance of its expected official release later this month. Revenue grew to $4.342bn in 2012, up almost 10% on 2011’s $3.963bn. Net income after tax was also up in 2012, growing by some 9.42% to hit $1.95bn. The rise in revenue wa...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Gulf States Finalize Rescue Package For Egypt
...tar, the key foreign financial backer of the Mursi regime, has been notable by its absence (see table). Regional Aid To Egypt Since 2011 Revolution ($Bn)* Mursi Rule (2012-13) 14.75 Qatar 8 Sa...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Syria Crisis Drags Down Whole Levant Economy
...e influx of the Syrian refugees, but the balance of trade was in deficit to the tune of 30-40% of GDP, as a result of the Syrian crisis which slowed down transit trade across Syria. With regard to tourism, the number of incoming tourists fell by 24% between 2010 and 2011, by 18% between 2011...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Iran Slashes Rial’s Official Value In Bid To Unify Exchange Rates
...we include gold reserves,” adding that this “is a gift form the current administration to the next administrations.” IMF figures put Iran’s reserves at $101bn as of the end of 2011 but projected that they had dipped to $89bn by the end of 2012 (see graph). Iran’s Exchange Ra...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Benchmark Crude Prices
...12 2011 WTI 104.91 100.64 95.92 95.79 94.75 94.17 94.42 94.18 95...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Investors Hope For Oil Sector Reform In Wake Of Cairo Coup
...rm, Vegas Oil, following the 25 January 2011 revolution. Hope Of New Beginning However, there were high hopes among oil investors that the exit of the Muslim Brotherhood government might allow Egypt to open a new and more positive chapter. “I have to say there is a feeling of relief…of bu...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Ex-Qatar PM Leaves QIA
...estions remain unanswered as to QIA’s role in riskier regional markets – such as Egypt, where the overthrow of Qatar-backed former president Muhammad Mursi threatens to throw Qatar’s Egyptian strategy widely off course (see p11). Increased Shell Stake? QIA began an energy buying spree in 2011...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
South Sudan Crude Exports Resume, For Now
... SUDAN & SOUTH SUDAN South Sudan Crude Exports Resume, For Now South Sudan has shipped its first three cargos via Sudan since 2011, but a lack of concrete progress in talks aimed at defusing the most recent North-South dispute has raised fears of a second Southern sh...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Iran-Pak Pipeline Inches Forward But Completion Unlikely Before 2017
...uld imagine this is more of a symbolic gesture than anything else. Pakistan has previously said it plans to fund the remainder of the cost using the proceeds from a tax introduced in 2011, but two years on, this looks very unlikely. “This is all rubbish,” the South Asian source says. “Pa...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Iran Takes Steps Towards Planned Tripling Of Gasoline Output
...ans (B/D) From To Status At Existing Refineries Arak 29,370 99,840 On-line November 2011...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Indonesia Spikes Aramco Refinery, Knocks Back KPC
...r similar tax breaks made by state-owned Kuwait Petroleum Corporation (KPC) overseas downstream subsidiary, Kuwait Petroleum International (KPI). KPI signed a memorandum of understanding (MOU) with Indonesia’s Pertamina in 2011 for a 200,000-300,000 b/d refinery and petrochemicals complex in West Ja...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Syria’s Cash Backers
...r in March 2011, are believed to have fallen to around $4bn (MEES, 21 June). Rebels Producing Oil, Refining Locally Damascus does not have access to the bulk of Syria’s oil fields; a number of oil wells in the east of the country remain producing but are in the hands of rebel forces, wh...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
Gulf Independents Upbeat On Egypt, Despite Unrest
...pear set to post record figures for the second quarter - Kuwait Energy’s focus on Egypt has not been without its problems. The company was owed $164mn by cash-strapped state firm Egyptian General Petroleum Corporation (EGPC) as of the end of 2012, up from $131mn at the end of 2011. The firm says it has st...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013 -
WB Backs $600Mn Power Project
...ypt’s 2011-13 political and economic upheavals. Investments have not kept pace with 6%/y demand growth and there have been rolling blackouts and frequent service interruptions. This has particularly hit small enterprises and households. The project is part of a program of investment in power ge...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013