- Sort by:
- Score
- Published ▼
-
Shell And BP Step Back From ADCO
...tal’s Chief Financial Officer, Patrick de la Chevardière, said during his company’s earnings call. ExxonMobil dropped out of the race and did not submit a bid by an October 2014 deadline. BP too now appears to have put its aspirations on hold. BP CEO Bob Dudley said during the company’s second qu...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Sadara To Supply Juffali Plant With MDI
...due to start up this year and be fully operational in 2016 (MEES, 21 March 2014). While the Plaschem park will take some of Sadara’s products, most of its revenues will come from exports. Sadara expects that 60% of output will be sold in Asia, with the Middle East and Africa accounting for 15...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Orpic/Samsung Go To Court Over Sohar Revamp
...finery by 81,000 b/d to 197,000 b/d, while boosting upgrading capacity (MEES, 29 November 2013). Orpic held a groundbreaking ceremony for the Sohar revamp in June 2014, after securing a $2.8bn loan from a consortium of 21 financial institutions (MEES, 6 June 2014). Orpic expects to complete the refinery ex...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Libya Looks To Recover Overseas Cash
...mbia and Niger – is the latest in a series of LIA court actions as part of a renewed effort to exert some authority over the fund and its assets, at a time when the country’s financial resources are dwindling rapidly. According to Hasan Buhadi, the chairman of the LIA appointed in October 2014 by th...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Israel Closes $1bn Solar Financing
...e 121MW CSP project last year (MEES, 18 July 2014). Megalim laid the cornerstone for the 121MW project in June, with a view to connecting to the Israeli grid in 2017. The partners expect the plant to deliver 320GWh of electricity to the grid annually. The plant will comprise a 240m high solar to...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Iran Slashes Cash Handouts In Bid To Balance Books
...dent critic of the Ahmadinejad administration, said last year that only 3% of privatization transactions under the program to sell off state assets were “real deals” (MEES, 21 March 2014). ...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Jordan Taps Bumper Aid; IMF Praises Energy Policy
...11 Egyptian revolution and discontinued in early 2014. As a result the National Electric Power Company (Nepco) had to shift to the more expensive liquid fuels, raising the company’s debt to JD4.6bn ($6.5bn) by end-2014 (MEES, 3 April). But with international oil prices having halved over the last ye...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
SAMA Plans More Debt
...evious four months of 2015, local investment bank Jadwa reported in its July update on the kingdom. Growth in credit to the private sector rose by 12.1% in 2013, 11.9% in 2014 and a projected 10.4% in 2015....
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Benchmark Crude Prices ($/B)
...15 2014 2013 2012 WTI 44.66 47.96 49.36 51.15 59.86 58.02 48...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Kuwait, Saudi Spat Over Neutral Zone Heats Up
...ould be borne by the Saudi government.” The Kuwaiti minister also argues that under the March 2014 order by the Saudi environmental authority to shut down Khafji, the joint operating company has five years to deal with gas emissions. The decision to halt operations with immediate effect was a vi...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Kuwait Awards $11.5Bn Contracts For 615,000 b/d Al-Zour Refinery
...yond early 2019” (MEES, 26 June). Once complete, the refinery will process heavy crude from the country’s new fields, KNPC Chief Muhammad Ghazi al-Mutairi said in 2014. The fuel oil produced at Al-Zour will be used at the country’s power plants, he added. While KNPC can now award contracts, the pr...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Iran Gets The Show On The Road For Contract Launch
...er since the IPC’s soft launch in Tehran in February 2014. The latest available information on the proposed terms were published by MEES last month (MEES, 19 June). Foreign oil companies have even been sending executives to the Iranian capital in recent weeks to learn more about the new te...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Nuclear Accord To Herald New Chapter In Iran Relations With Total
...e nuclear talks began in 2013, with the first coming in February 2014 (MEES, 7 February 2014). PETCHEM PROPOSALS Iran is also looking to extend its energy cooperation with France to the mid and downstream sectors, Mr Zanganeh said, as well as the manufacture of oil and gas equipment for do...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Lebanon: Political Intransigence Blocks Upstream Progress
...oved incapable of making important decisions on the country’s future. This includes a nomination for the post of President – a position that has been vacant since May 2014. In addition, two decrees crucial to opening up a potential bid round for acreage in the country’s offshore have failed to move fo...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Algeria’s Upstream Challenges In Four Graphs
...emingly written earlier) 2014 report says “the engineering, acquisitions, construction and preparation to have [BMS] operating will be completed in the first half of 2015, and first production is expected around July.” Again, production appears to have not yet begun. Cepsa has since 2011 been owned by Abu Dh...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
New Suez Canal Begins Testing Ahead Of 6 August Grand Opening
...ninsula which borders the canal has seen hundreds of people killed since President Sisi came to power. The $8.5bn project was locally funded through investment certificates launched by Egypt’s central bank (MEES, 19 September 2014). An average of 49 ships per day traversed the canal during the fi...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Saudi Petchems Firms Double Profits In Q2
...lling prices of products for Q2 compared to the prices from the corresponding quarter in 2014 has led to a drop in profit, Mr Binyan adds. The same reason was given to the profit decline in the first half of this year against the earnings in the first six months of last year. Mr Binyan says that Sa...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
OPEC Holds Ground After Russia Talks
...ergy demand growth, according to data supplied by BP. This makes markets sensitive to any sign of a slowdown in consumption in the Asian powerhouse. Growth in China has been slowing. BP says energy consumption grew by 2.6% in 2014. This, it says, was less than half the 10-year average growth rate of...
Volume: 58Issue: 31Published at Fri, 31 Jul 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 -
Libya Oil: A Write-Off?
...ayed a substantial part in a 49% reduction in profits for the second quarter, compared to the first quarter of the year, and a 64% drop compared to the same period of 2014. Underlying replacement cost profit for the quarter was $1.3bn, compared with $2.6bn for the previous quarter and $3.6bn for the se...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015