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Iraqi Political Scene In Tumult Over Regional Intrigues
...tonomy, a hardening which overshadows the current oil export conflict. In December 2014, Baghdad and the KRG negotiated an oil export agreement which had the potential to lead to an end to years of wrangling over Kurdish oil exports which has been harmful to both sides. The initial agreement, passed by th...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Moody’s Assigns Poor Rating For Iraq Bond
...ile the non-oil sector is dominated by the public sector. Manufacturing and construction together accounted for only 10% of GDP in 2014, and services had a share of 37%. More than one-third of this originated from general government services. Iraq also has very weak institutional strength. This is re...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
North Africa Security Special Report: Too Late To Roll Back Islamic State?
...ficials, it was the only country in the Middle East and North Africa region not to suffer from terrorism in 2014. The most recent major attack in the kingdom was in April 2011, when 17 people were killed and 25 injured in an explosion at a restaurant on Djema el-Fna, the main square in Morocco’s tourist hu...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Cairo Reshuffle Sees Oil Minister Appointed PM
...64% from E£1.1 ($0.15)/liter. Higher grade 90 Octane gasoline was raised by 41% (MEES, 11 July 2014). This has resulted in spending on oil product subsidies halving to $10.8bn or 9.5% of total spending for the 2014-15 financial year. For the current year it is budgeted to fall further to just 7% of...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Gulf Cash Boosts Balance Of Payments
...re $6.4bn in 2014-15, up from $4.1bn. But the current account deficit increased sharply to $12.2bn in 2014-15 from $2.7bn. A 14% rise in the trade deficit was driven by a 16% fall in exports, whilst imports rose by 1%. The value of oil exports in 2014-15 fell by 30% to $8.7bn, and that of oil im...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Syrian Oil: ‘$48Bn Losses’
...yuzneftegaz continues to explore the Syrian offshore, recently completing 2D seismic on its 2,190 km² Block 2 and is currently analyzing the findings. Under the agreement signed at the end of 2013, Soyuzneftegaz committed to spend $15mn during the initial exploration phase (MEES, 3 January 2014). Ru...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Kuwait Summons Iran Envoy Over Disputed Offshore Gas Field
...st year a senior Saudi oil official told MEES that as far as Riyadh was concerned, based on an extension of the Saudi-Iranian demarcation line to Dorra, Iran has no claim to the field (MEES, 4 July 2014). This prompted a strong response by the Iranians who in turn said it was in fact the Saudis wh...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
KRG Out Of Pocket Again Amid Political Gridlock
...dget shortfall from Baghdad, the fight against terrorism, the burden on the economy of hosting 1.8mn refugees and internally displaced people, and the drop in the oil price by over 50% since the end of 2014,” it says in a statement posted on the MNR website. Revenue from crude oil exports through th...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Libya Premier Announces Resignation From Baida Government
...coming prime minister in March 2014. In May this year, he was the target of an assassination attempt by an unidentified gunman, who fired on the prime minister’s car as he was leaving a parliamentary session in Tobruk (MEES, 29 May). The attack was accompanied by an attempt by gunmen to storm pa...
Volume: 58Issue: 33Published at Fri, 14 Aug 2015 -
Syria: Territorial Disintegration Looms As Conflict Enters New Stage
...e year averaged 9,934 b/d, according to Syrian Oil Minister Sulaiman al-‘Abbas, virtually unchanged from the 2014 average of 9,330 b/d. This puts crude production at a mere 2.4% of the 385,000 b/d Syria was producing before the start of the uprising in March 2011. Gas production in the first ha...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Nuclear Deal Breathes New Life In To Iran-Pakistan Gas Pipeline Project
...pefully, as the sanctions are removed, it facilitates us to address our energy needs, and also meet the contractual obligation,” the minister said. Under the terms of the latest deal signed between the two countries in 2009, 750mn cfd of Iranian gas was to begin flowing to Pakistan by 31 December 2014, wi...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Libya: Oil Boost Hopes Fizzle Out Amid Hollow ‘Peace Deal’
...cember 2014 by Salim Dirbi as a successor to the Al-Qa’ida-affiliated Abu Salim Martyrs Brigade. But IS has made inroads elsewhere. It raised its black flag over the town of Harawa, about 60km east of Sirte, on 5 June, and over Qadhafi’s former stronghold, Sirte, in early July. In February, it took co...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
OPEC Output Keeps Rising In June To Hit 38-Month High
...posed 30mn b/d production ceiling since May 2014, and above 31mn b/d since March this year. But while this Opec ‘over-production’ shows no sign of abating in the months ahead, particularly when one factors in the Iranian upside should a nuclear deal materialize, a slowdown in US output growth since Ma...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
A New Deal For South Sudan
...rtfolios. The government will retain a majority (53%) of central government positions, and a group of 10 former SPLM party members who were detained for a period in 2014 on charges of plotting against the government, known as the SPLM former detainees (SPLM-FD; or G10), will take 14% of the positions. Pr...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
KRG Helping Hand To Kirkuk Province Threatens To Widen Rift With Baghdad
...ys is housing half a million Iraqis and refugees displaced as a result of the jihadist incursion into Iraq in June 2014. He said in an interview with Kurdish Rudaw television that Kirkuk had not received its share of the federal budget for six months and has not been paid for its oil in two ye...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Syria’s Economy: Down, Down, But Not Quite Out
...rian Center for Policy Research using patchy publicly-available data on the Syrian economy – data that includes company filings and trade statistics for neighboring Turkey – indicates an even larger contraction of 62% between 2010 and 2014. The largest losses, of 30.9% and 36.5% respectively were in 20...
Volume: 58Issue: 26Published at Fri, 26 Jun 2015 -
Iran Touts Gas Export Progress, Plots Key Regional Role Post-Sanctions
...nk. ‘READY TO PLAY OUR ROLE’ Sanctions have severely restricted the development of Iran’s gas reserves, which according to BP are the largest in the world. As of 2014 Iran had gas reserves of 1,201.4 trillion cubic feet, or 18.2% of total global reserves, according to BP’s latest St...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Jordan’s Energy Supplies: Lots Of Options, None Of Them Good
...ickly with any increase in oil prices. “If 2014 price levels were sustained throughout the next decade, savings from LNG could exceed $400mn/year (1.3% of GDP), reducing both the import bill and [state electricity firm] Nepco’s losses,” he says. Additional gas imports may become available from the Ea...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Saudi Mosque Bombings Shatter Illusion Of Security
...blications criticizing Saudi Arabia and its participation in the Yemeni conflict while its leader released a speech on 14 May, his first since late 2014, claiming that Saudi rulers were “the slaves of the Crusaders and the allies of the Jews,” and had lost legitimacy to lead the Sunni people. IS ‘MORE RO...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
South Sudan: Remaining Oil Output Under Threat
...e responsible for the entirety of South Sudan’s current oil output, following the shut-down of output from the country’s only other producing region, Unity state, in January 2014 (see table). With round after round of peace talks mediated by the eight-nation Intergovernmental Authority on De...
Volume: 58Issue: 21Published at Fri, 22 May 2015