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Dana Petroleum Reports First Oil From Matr-1XST Well In North Zeit Bay
...r the purpose of producing oil and gas from the Lorcan development lease (MEES, 5 December 2011). Besides the onshore North Zeit Bay PSC, Dana Petroleum also operates the South October PSC. It is also a partner in the offshore West El-Burullus concession and the East Beni Suef license in the Western Desert. ...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Iran Increases Gas Exports, Additional Supply To Turkey Unlikely
...IRAN Iran Increases Gas Exports, Additional Supply To Turkey Unlikely The Managing Director of the National Iranian Gas Company (NIGC) Javad Owji told IRNA on 18 January that since the beginning of the current Iranian year (21 March 2011 – 20 March 2012), Iran has increased its na...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Jordan’s Energy Import Bill Rose To $4.7Bn In January-November 2011
...JORDAN Jordan’s Energy Import Bill Rose To $4.7Bn In January-November 2011 Jordan’s energy import bill in the first 11 months of 2011 rose by 55.7% to JD3.355bn ($4.731bn) from JD2.154bn ($3.037bn) for the whole of 2010, according to figures from Jordan’s Department of Statistics. The va...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Lebanon Extends Contract With Spectrum For Seismic Offshore Data
...e enhancement of the EMED-00 survey, which was completed in 2011. Earlier this month, Lebanese Minister of Energy and Water Gebran Bassil announced that his country plans to launch its first licensing round for offshore gas within three months. “We now have everything required for an oil company to...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Energy Stocks: Companies Focus On Debt Restructuring
...nuary Dana Gas announced it planned to honor obligations related to the $1bn sukuk and its stock price rebounded 5.8%. In 2011 it had fallen 38%, which analysts believe is due to concern about its ability to repay debt, as well as problems receiving payment for projects in Egypt, where the majority of it...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Kuwait To Explore Oil Investment Opportunities In Sudan
...oduction (MEES, 11 July 2011). Kuwait’s state-owned KUNA news agency reported that a delegation from the Kuwait Foreign Petroleum Exploration Company (Kufpec) met with Sudan’s Minister of Petroleum 'Awadh Ahmad al-Jaz to promote mutual cooperation and discuss opportunities for Kuwait to expand its in...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
MENA Facing Uncertainty From Arab Spring, Eurozone Crisis, Says World Bank
...herwise) Est Forecast 98-07* 2008 2009 2010 2011 2012 2013 GDP at market prices (2005 US...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Saudi Aramco/Sinopec Refinery Deal Highlights Growing Sino-Saudi Energy Axis
...nopec signed a memorandum of understanding for the Yanbu΄ project last March after Saudi Aramco’s original partner ConocoPhillips withdrew the previous year (MEES, 21 March 2011). The two firms are spearheading the growing energy relationship between the world’s largest crude exporter and the rising ec...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Sudan Admits To Confiscating South Sudan’s Oil As Dispute Talks Resume
...aring of oil revenues (MEES, 11 July 2011). While Sudan’s Foreign Ministry initially declined to comment on this latest development, members of the northern delegation that arrived in Addis Ababa for the January 17 talks confirmed to reporters that the country had in fact began confiscating oil from th...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Syrian Pound Loses More Value On Black Market
...SYRIA Syrian Pound Loses More Value On Black Market The ongoing political turmoil in Syria since March 2011 has eroded about 50% of the foreign exchange value of the Syrian pound on the black market, exchange dealers said last week. The value of the pound slipped from an official rate of...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
BNP Paribas Secures Advisory Mandate For $800Mn Emirates Steel Expansion
...rect reduced iron produced in the Phase 1 and Phase 2A facilities and will also draw upon internal and externally sourced scrap to produce the feedstock for the new phase. Established in 2011, Emirates Steel is the only integrated steel plant in the UAE using the latest rolling mill technology to pr...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
KMG EP Moves To Ease Zhanaozen Crisis
...CASPIAN KMG EP Moves To Ease Zhanaozen Crisis KMG EP, the upstream arm of Kazakh state oil and gas firm KazMunaiGaz (KMG), announced on 9 January that it had decided to establish two new subsidiaries that will re-employ the majority of the 2,000 oil workers laid off since June 2011, wh...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Turkmen President Again Replaces Turkmengaz Chairman
...rough BTC Almost Doubled In 2011 The Socar Trading subsidiary of the State Oil Company of Azerbaijan Republic (Socar) announced last week that Turkmen oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline had almost doubled in 2011 compared with 2010, to 2.24mn tons. The company added that Tu...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Cyprus And Israel Sign Defense Cooperation Agreements
...e exchange of classified information. Relations between the two countries have become steadily closer over the last year since a proposal was made a year ago by Israel’s Delek Group that a joint LNG facility be created on the island’s southern coast (MEES, 17 January 2011). The Delek proposal fo...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Tamar Partners Sign Gas Sales Contracts
...cember 2011). In its 15 December statement, the IEC said: “As long as only one gas pipeline connecting the production rig and transmission system exists, the company shall purchase only limited quantities of natural gas from the Tamar partners, in order to enable other customers to purchase gas from th...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Noble To Resume Work On Leviathan-1 Well In Search Of Crude
...ock 12 in the Cyprus exclusive economic zone (EEZ). Noble announced on 28 December the discovery of 7 trillion cu ft of natural gas at the Aphrodite field in Block 12, a year after Noble made a discovery of 16 tcf (now revised to 17 tcf) in Leviathan on the Rachel block (MEES, 3/10 January 2011). In it...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Jordan Considers More Targeted Subsidies For Basic Items
...t happen in the near future. This could force the government to lift subsidies on electricity and water for high consumers in society. He explained that the 2012 budget is projecting foreign aid of JD870mn ($1,227mn), compared to JD 1,196mn ($1,686mn) in 2011, and warned that should this aid fall be...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Oman’s 2012 Budget Maintains High Level Of Social Spending
...frastructure. The budget, approved by Royal Decree 1/2012 issued by Sultan Qabus on 2 January, is based on an oil price assumption of $75/B, up 29.3% on $58/B for 2011, and average oil production of 915,000 b/d. Announcing details of the budget in a press conference, Oman’s Minister for Financial Affairs Da...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
'Abd Allah Al-'Attiyah Accorded Rank Of Prime Minister
...nuary 2011, when he was appointed Head of the Ruler’s court (Amiri Diwan), while remaining Deputy Prime Minster in Qatar (MEES, 24 January 2011). More recently, on 29 December 2011 he was also appointed Chairman of the Administrative Control and Transparency Authority, a new entity which was set up to co...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Ex-Im Bank Approves $638Mn For Qurayyah IPP
...rea. This is the second IPP that Ex-Im Bank has financed in Saudi Arabia. Hajr for Electricity Production Company is 50:50 owned by the project developers and SEC. Saudi company ACWA signed an agreement on 21 September last year with SEC to develop Qurayyah (MEES, 26 September 2011). Originally co...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012