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Egypt Pledges To Pay $1bn To International Oil & Gas Firms
...the tumultuous period that followed the toppling of President Mubarak in February 2011, deteriorating state finances and frequent changes to the political leadership meant that the funding of the energy sector was left neglected. By failing to pay up, the government discouraged IOC investment in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Algeria: Politics Unchanged, Oil & Gas ‘Must Do Better’
...cline in recent years; export volumes are being squeezed further by rising domestic demand. Crude production declined from 1.25mn b/d in January 2011 to 1.14mn b/d three years later, according to MEES estimates. And according to latest figures from the International Gas Union – of which Algeria is a me...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iranian Oil Exports Take Nosedive In Sign Of Things To Come
...cific duo of Japan and South Korea, which each cut their purchases by more than 70% versus relatively high February levels. Both countries have cut imports sharply since sanctions tightened in mid-2012: Japan’s 2013 imports were 143,000 b/d down on 2011 and Korea’s 98,000 b/d. South Korea imported 71...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...cense to December 2014 (sic) “is pending formal ratification.” BG Tunisia Output (Net) 2010 2011 2012 2013 Oil (‘00...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Tankers Merger Gets Green Light
...hri’s 107 VLCC voyages in 2011 were 45% Middle East Gulf to East Asia, 30% Middle East Gulf to the US, and 25% West Africa to East Asia. “This means Bahri will have a large portion of spare VLCC capacity to deploy on the Middle East-Europe and US routes, once it completes the purchase,” said Audi Capital....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...s upstream section and may not start production until 2016. Saudi Peak* Direct Crude Burning (‘000 B/D) Saudi Oil Use For Power Generation (‘000 B/D) 2009 2010 2011 20...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Syria: Between A Rock And A Hard Place
...test the waters, and could resort to larger shipments in future. Syria’s revolution started in March 2011 with mainly peaceful demonstrations. Army deserters established the moderate Free Syrian Army, a grouping of militias that remains splintered. Islamist militias followed. Both the Free Sy...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.94 103.97 102.75 100.48 100.68 98.56 97.54 98...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Data Analysis: Oil Exports Hit 11-Year High To Top 8.5mn B/D In February After Satorp Start-Up
...SAUDI ARABIA Feb-14 Jan-14 J-F ‘14 vs J-F’13 Dec-13 Nov-13 2013 vs ‘12 2012 2011 2010 2009 Crude Production (Official) 9,850 9,...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Targeting Crude Output Hike Alongside Upstream Opening
...ude output averaged 2.82mn b/d over the first quarter of the year, down close to 800,000 b/d on 2011’s pre-sanctions output. Exports are also much depressed, averaging just 1.1mn b/d in 2013, from around 1.5mn b/d as recently as 2011, according to MEES estimates. But with a potential opening on th...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Oil Exports Resume In Eastern Libya
...Cs are less concerned about their ability to revive production should the export routes open up. While in 2011 fields were hastily shut down by workers escaping the fighting, last year pumps were shut in properly, and facilities have been maintained since. “The fields should come back fast, they al...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Suez Revenue Steady
...2013. For gross tonnage (including vessel weight), the 2013 figure of 915mn t is just down on 2011’s record 929mn t. The average size of vessels using the canal is rising. Despite record cargo and revenues holding steady, the total number of ships using the canal has fallen in each of the last fi...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
GCC Polymers Increasing In Volume And Sophistication, Says GPCA
...08-13 Chg 2013-18 2008 2009 2010 2011 2012 2013 MN T % %/yr...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Iran Power Supply Up 4.6%, Capacity Hits 70GW
...n be viewed as remarkable progress given international sanctions. Recent international focus on Iran’s power sector has centered on the 1GW Bushehr nuclear plant, which western powers fear hides a nuclear weapons program. The plant has operated intermittently since 2011 start-up; it is currently sh...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
MENA Countries Hike Defense Spending For 2013
...stern Anbar province bordering Syria. Bahrain has beefed up arms purchases since mass protests by its marginalized Shi’a majority were suppressed with the help of its GCC neighbors in 2011.Oman’s military spending fell 27% in 2013, although this comes on the back of a more than doubling in spending be...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Iraq’s Management of its Natural Gas Potential - INES Revisited
...veloping the country’s own natural gas potential had been effectively halted. Even now, in 2014, utilization of Iraq’s natural gas, excluding Kurdistan, is around the same as it was in 2003. Since 2011 two contracts costing Iraq around $720mn have been signed to build two pipelines to import around 1.6bn cf...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
EU Crude Oil & Condensate Imports, 2013
...12 2011 ‘000 b/d $mn $/B CIF % Total Rank ‘00...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 103.76 102.75 100.47 100.48 100.68 98.56 97.54 98...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Qatar Searches For New Gas As North Field Moratorium Set To Continue
...rmation, blocking gas flow. Recent development phases at South Pars have seen a dry hole and salt-water infiltration (MEES, 12 December 2011). IOCS Digging Deeper Despite the North Field moratorium, Qatar hopes to expand gas production further in a bid to meet the feedstock demands of its ambitious do...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014 -
Focus Turns Back To Oil In Southern Sudanese Conflict
...s producing in January 2012, before it shut down the entirety of its crude oil production due to the dispute with Sudan over oil transit fees. The economic futures of South Sudan and its northern neighbor have remained inextricably linked despite their July 2011 break up – especially their oil in...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014