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Saudi-Iran Relatons On The Mend?
...e first high level contact between Riyadh and Tehran since the 2011 start of the Arab revolutions that exposed deep rifts within the Arab world, the ripples of which are still being felt in the Gulf region today. The collapse of Hosni Mubarak’s regime in Cairo forced Saudi Arabia, which prefers qu...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Aramco Annual Review: Gas Record, Oil Down
...10 2011 2012 2013 ‘13vs’12 (%) RESERVES (re...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran: Hope All-Pervasive, But Is It Justified?
...der the previous administration stand out. Mahmoud Reza Khavari, managing director of Bank Melli, Iran’s largest state-owned bank, fled the country to Canada in late 2011 in a $2.6bn embezzlement scandal. His alleged fraud involved the use of forged documents to obtain credit from at least seven Ir...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.50 100.00 100.21 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Turns Up The Heat On Chinese State Energy Giants
...ntractor,” he said. “Due to the Chinese contractor’s failure to follow through on its commitments…the order to end its contract in the development of South Azadegan will be issued.” CNPC was awarded the $2.5bn contract in March 2011 (following an October 2009 MoU) to develop the field under a two phase de...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Syria: Subsidies Hit $1Bn; ‘Losses’ At $22bn
...vernment spent S£40bn ($268mn at the official exchange rate of $1=S£149) on energy subsidies in the first quarter of 2014; over $1bn on an annualized basis. The minister estimates total losses in the hydrocarbons sector since the beginning of the uprising in March 2011 at S£3,202bn ($21.5bn) – S£2,...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Iran Targets Joint Fields For 1Mn B/D Capacity Boost
...12, Iran’s crude oil exports have taken a significant hit, falling to as low as 800,000 b/d in October last year. This is down from an average of 2.5mn b/d in 2011. The country’s oil output also took a hit as a consequence of the sanctions, falling by around 1mn b/d since end-2011 levels. Iran’s oi...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...wait’s Top 3 Crude Buyers, 2011-14 (‘000 B/D)...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Israeli Offshore Gas Eyes Egyptian LNG Terminals
...yptian gasfields, has an offtake agreement for a further 1mn t/y. Spain went from being the dominant customer for Egyptian LNG in 2011 – when it took close to 30% of total volumes – to receiving zero for 2013 (see table). Houston-based Noble has a 36% of Tamar and is operator, Israel’s Delek Gr...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tupras Boosts Turkish Conversion Capacity
...mbined nameplate capacity of 562,000 b/d. Total output for 2013 dipped slightly to 442,000 b/d, but distillates output increased at the expense of fuel oil – to 68.5% of total output in 2013, from 65.3% in 2012 and 64% in 2011 (see table). Diesel output last year hit a record 115,300 b/d, whilst jet fu...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Saudi Boost Pushes OPEC April Production Higher
...vs YTD ‘13 2013 2012 2011 S Arabia* 9.66 9.59 +0.07 9.82 9.78 9....
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Libya’s New PM Faces Old Problems
...ime Minister since the 2011 overthrow of Mu’ammar al-Qadhafi. The vote was immediately contested, but seems likely to stand. Mr Maiteeq, a businessman from Libya’s third largest city Misrata, gave a televised speech the following day, in which he pledged to “improve state control and sovereignty, re...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
QPI Makes Second Canada Move With UK’s Centrica
...int oil and gas projects in Canada in 2011. After the latest deal, QPI and Centrica’s interests in the Western Canadian Sedimentary Basin are fully aligned. In a statement, Nasir al-Jaidah, CEO of QPI, said: “We are pleased to have expanded our strategic alliance with our partner Centrica through this ac...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
SABIC Targets ‘Innovation And Ingenuity’
...ale cracker in the US (MEES, 12 April 2013). The report gives 2013 output for only two of SABIC’s business units: fertilizers 6.7mn tons and “metals” (steel production) 5.9mn tons. The most recent data for other units are for 2011 output: chemicals 44mn tons, polymers 11.3mn tons, innovative pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D)
... Mar-14 Feb-14 Jan-14 1Q ‘14 % of total ‘000 B/D % 2013 2012 2011 Middle Ea...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 100.26 100.21 102.02 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Palestine Moves Forward With Onshore Oil Bid Round Amid Difficult Politics
...ile the Meged-5 well initially produced about 800 b/d when it came online in 2011, it averaged just 400 b/d over its first two years. The geology is challenging for a small operator with low technical capabilities like Givot Olam, as the carbonate rock containing the targeted reservoir is poor; co...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Petro Rabigh, Chemanol Restart Offline Units
...rivatives – for an undisclosed period in 2015 for testing and inspection. This will be the plant’s second such shutdown since 2011, although the company says a five-year interval is typical for the industry. Petro Rabigh was hit last year by two utilities outages that necessitated repair and maintenance work on...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Egypt: A Revolution Undone
...EGYPT Egypt: A Revolution Undone This week’s mass death sentences against political opponents have made it obvious that the army has reversed the course set by the 2011 revolution. But the military leadership has inherited the problems that ended Mubarak’s rule, and it is cr...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 99.42 102.02 103.97 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 18Published at Fri, 02 May 2014