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Libya Eyes $80bn Downstream Drive
...oadly diversified.” Three petchem complexes are envisaged; in Mellitah and Zawiya in the west and at Benghazi in the east. Of the latter site Dr Ellob notes: “It is near population centers and can help create jobs.” Estimated costs for the three complexes, to be built in 2014-25, are $50-60bn. All three pe...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Oman Qualifies Bidders For Musandam Plant
...s Main Interconnected System (MIS) grid will rise by 9.5% a year during 2013-19, while Salalah System peak demand will grow by 12% a year. The Barka Phase 3, Sohar Phase 2 and Sur projects are expected to add a combined 3.49gw of capacity by 2014 (MEES, 24 May). OPWP is also studying a 200-300mw pr...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Saudi Aramco: 2012 Production Rises, Capacity Steady
...oduction. On 15 April, Saudi Aramco began production at its Manifa oil field three months ahead of schedule. Production will rise to 500,000 b/d by July and 900,000 b/d by end 2014, with output replacing mature fields coming offline – allowing Saudi Aramco to maintain its 12mn b/d production capacity. Ac...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Kish Gas Startup Claims Half-Baked
...at has played out in many projects across Iran over the past few years, development of Kish gas, according to Iran, is on schedule. “Early production” at Iran’s huge Kish gas field is expected to begin before the end of the current Iranian year (21 March 2013 – 20 March 2014), the semi-of...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
OPEC Capacity Growth To Remain Muted Through 2018
...stream over the coming five-year period. OPEC sustainable Crude Production Capacity Estimates (Mn B/D) 2012 2013 2014 2015 2016 2017 2018 2012-18 Al...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Turkey Joins MENA Capacity Surge As Socar Awards STAR Refinery Contract
...intains that the official start-up target is still fourth quarter 2014. The IEA also expects start-up of Kuwait’s planned 615,000 b/d Al-Zour refinery “by 2022”, although Kuwait National Petroleum Corporation (KNPC) still aims to complete the plant by 2018. KNPC recently reissued invitations to bi...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Oman Plans For Power Demand Growth
...the MIS through 2019 as: completion of the Barka Phase 3, Sohar Phase 2 and Sur plants, to provide a combined 3.49gw capacity in 2014; the addition of 200mw of solar capacity, subject to government approval; the expiration of contracts at existing plants with 1.517gw capacity; and the provision of on...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Total Tanks Up In Egypt
...stations by end-2013, and quadruple product sales, including a large aviation fuel component, from 2012’s 226,000 tons to 1mn tons/year by 2014. The UAE, where it has a 200,000 t/y blending plant (and a 7,500 t/y grease plant), anchors Total’s regional lube business. In addition to the Gu...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Yemen Seeks $500Mn Loan From IMF
...s said. But in its 21 May MENA update, the IMF projects lower real GDP growth of 4.4% in 2013, rising to 5.4% in 2014. Reduced oil output is set to tip Yemen’s current account into a deficit of over 4% of GDP this year, the IMF predicts, with the country needing a wholly unrealistic average price of...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Lebanese Officials Upbeat Despite Warnings
...ency explained that in addition to the war in Syria, the downgrading in outlook reflects Lebanon’s already high debt burden in 2013 and 2014, political instability and limited economic growth. Moody’s added that the prolonged civil war in Syria has adversely affected investment, trade and tourism in Le...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Abu Dhabi Rejects ADCO Extension Request
...r a new ADCO shareholding structure by the concession’s official 13 January 2014 expiry. This will leave ADNOC operating the fields until the SPC makes the decision. Current ADCO partners are ADNOC 60%, Total, BP, Shell and ExxonMobil 9.5% each and Portugal’s Partex 2%. This would be a re...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Yemen LNG Sees Upturn In 2013 Fortunes
...creased revenues for San’a going forward; from 2014 there will be “no [price] ceiling” on sales contracts and “by 2015 most of the loans and the banks will be paid for…[LNG exports] will provide a significant portion of the state’s revenues.” Possible Expansion With Yemen having recently put 20...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
IEA: US Shale To Sideline OPEC Going Forward
...erging and developing economies exceed that in the advanced economies for the first time, the IEA says. Chinese demand growth meanwhile is set to slow from 2014 onwards as the country’s government tries to shift the focus of its economic policy from one of aggressive growth to one emphasizing more ba...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
IEA Sees Middle East Refiners Adding 2.5Mn B/D Of Capacity In 2013-18
...ant at Yanbu’, originally slated for 2014 completion, is now “scheduled for 2017-18.” Elsewhere, the region’s largest capacity addition will be in the UAE, where a new 420,000 b/d refinery at Ruwais is due online in 2015. “This high-conversion project,” says the report, “will process heavy re...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Qatar Awards Condensate Splitter Project To Chiyoda/CTCI
...pected to be commissioned in the second quarter of 2014. This will have capacity to process all the light gasoil from both LR1 and LR2 into ultra-low-sulfur diesel. Detailed engineering work for LR2 began in April. The front end engineering design (FEED) for LR2 was carried out by France’s Te...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Jordan Testing Interest In Waste-To-Energy Projects
...ES, 11 January). Six companies have recently submitted bids to build a 500mw oil shale power plant, with construction to begin in 2014 for start-up by 2017. The Kuwait Fund for Arab Economic Development (KFAED) is providing $150mn funding for a 65mw wind farm in Ma’an governorate (MEES, 10 May), wh...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Calls Mount To Change Saudi Subsidies
...oducts importer (MEES, 3 May). This fuel is purchased at market price internationally, yet it is then sold in the domestic market at the subsidized level. An end to transportation fuel imports should come with the start-up of two key refineries in 2014. French major Total will sell its own sh...
Volume: 56Issue: 20Published at Fri, 17 May 2013 -
Gulf Petrochemicals Firms Expanding Capacity Despite US Shale Threat
...r ethylene derivatives: “From 2014 excess supply is expected to reach 5mn t/y or more, due to the increases in excess supply in the Middle East as well as the increase in ethylene production capacity making use of shale gas in the US.” The International Energy Agency meanwhile sees global et...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Fragile Economy Dominates Upcoming Iranian Elections
...e IMF’s World Economic Outlook, April 2013, Iran’s real GDP, which fell 1.9% in 2012, is projected to fall by a further 1.3% in 2013, before rising 1.1% in 2014. Consumer prices rose by 30.6% in 2012 and are to increase by a further 27.2% in 2013 and 21.1% in 2014. As for unemployment, the rate, wh...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Fresh Blast Severs Yemen Crude Export Artery
...has dubbed the National Dialogue – a six-month long conference backed by neighboring Saudi Arabia and tasked, among other things, with writing a new constitution and preparing for democratic elections in 2014. With more than 500 representatives from different political parties, regions, tribes and re...
Volume: 56Issue: 19Published at Fri, 10 May 2013