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Algeria Confirms Six CCGT Awards, Plans New Solar, Mobile Units
...ntracts Sonelgaz has been charged with raising total generating capacity quickly in the short term, following riots over power outages during 2012. While 3.77GW of capacity has been added since the end of 2011, Minister of Energy and Mines Youcef Yousfi has forced the pace of development since his return to...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Saudi Arabia, UAE and Bahrain Pull Doha Ambassadors
...ani, who took over from his father last year and is still trying to find his feet on shaky Arab ground, still unsettled since the start of the wave of revolutions that swept across North Africa in 2011. Doha’s growing support for the Muslim Brotherhood since he took over as head of the leading gas pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Egypt’s Wheels Of Change Keep Spinning
...EGYPT Egypt’s Wheels Of Change Keep Spinning Three years after the Arab Spring, Egyptian politics remain in a state of flux. The 2011 Arab Spring introduced a new road map for Arab revolutions, as millions took to the streets calling for the overthrow of Pr...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Oman Oil Corruption: Ministry Blames Individuals, Not System
...e country’s key downstream projects – the 116,000 b/d Sohar refinery and polypropylene plant commissioned in 2006, and related aromatics plant commissioned in 2010. All are now operated by the sultanate’s state-refiner Oman Refineries and Petroleum Industries Company (ORPIC), established in 2011. Th...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Tunisia Pledges Cuts To Avoid Economic ‘Catastrophe’
...lamist party Ennahda won the elections after the overthrow of Ben Ali’s regime in January 2011, but two political assassinations of prominent opposition deputies in 2013 reminded Tunisians that they were still in transition, given the economic challenges and external shocks experienced since 2011. La...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Why Saudi Arabia Welcomes The US Shale Boom
...lps stabilize oil prices. Take the uprising in Libya in 2011, which cut Libyan production and led to a sharp rise in price. Over the last 12 months, when there has again been a crisis in the country, and falling supplies, there has been no repeat of the price increases. There is no doubt that the oil ma...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Iraq Supplants Iran As Top Crude Supplier To Turkey For 2013....
...12 2013 % of total 2012 % of total ‘000 B/D % of total 2011 2010 Iraq 121.8 32...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.56 102.45 102.31 100.68 94.81 97.54 105.73 98...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
UAE: Bonds Not Needed
...ending plan, first introduced in 2011 with a total outlay of Dh122bn ($33.2bn), was aimed at achieving sustained growth on a longer time horizon (MEES, 1 November 2013). Latest IMF projections expect UAE real GDP growth to remain firm at 4.5% in 2014, unchanged from 2013 (MEES, 7 February)....
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iran Plays Hardball On Turkey Gas Price
...rkey has since early 2012 been pushing for a revision in the price it pays for gas imports from Iran, going so far as to open an arbitration case against the Islamic Republic earlier this month. As well as the price issue, Ankara is citing unreliable gas supplies during winter 2011-12, and more re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Asian Buyers Influence Key Oil Benchmarks
...ft a glut of west African crude begging for a home, a situation which would have been exacerbated had fellow light sweet oil producer Libya been producing at normal levels. For South Korea, Forties became attractive after it concluded a Free Trade Agreement with the European Union in 2011, as the grade re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt: Motivation Behind Government Resignation Unclear
...pitalize on the popular notion that a strong leader is needed to restore order after the chaotic years following the 2011 revolution. Many Egyptians are weary of the uncertainty and economic stagnation that has been the hallmark of the aftermath of the Arab Spring. Keen to be seen as serving the county’s in...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Petrofac Bags $1.2Bn Oman Gas Deal
...12 BCM % 2011 2010 Industry 22.59 21.72 +0.87 4.0 20.17 19.64 Po...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Algeria’s Trade Surplus Slumps
...sustainable path. Whilst Algeria’s current account remains in surplus the IMF estimates the surplus collapsed to a mere 1.1% of GDP for 2013, down from 6% for 2012 and 9.9% for 2011. Reserves At $194bn The country’s reserves have reached $194bn at the end of December 2013, according to the Governor of th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt Banks: Moody’s Wary
...yptian banks is unchanged since the beginning of the political turmoil in the country in January 2011. Moody’s said that although Egypt is heading towards elections, the government remains locked in a confrontation with the Muslim Brotherhood, which is backed by ousted president Muhammad Mursi. Mo...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 102.40 102.31 100.20 94.81 97.91 97.54 105.73 98...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iraq Set To Launch Gas Bidding As Eni Slams Terms
...siriya integrated project (see above). Indeed, none of the big oil majors which snapped up the oil TSCs in 2009 and 2010 showed much appetite to bid aggressively for the 12 gas blocks offered in 2011, of which three lie in the Anbar area that is now the scene of a showdown between the Iraqi army and al...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Jordan Takes Plunge With Israel Gas Deal
...umped dramatically after 2011 and the loss of substantial volumes of Iraqi crude oil that was supplied at preferential prices by the ousted regime of Saddam Husain. Even the 10,000 b/d that Iraq shipped to Jordan by tanker trucks has dried up since November because of the ongoing fighting in Anbar pr...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Egypt Boosts Gas Offering As Receivables Fall
...yrouz 5 Offshore N Sinai 2,280 9 1618 Y 2011 (N El Fayrouz) Tharwa N Port Fuad 7 Offshore Me...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Libya: Political Process Still Holds Hope
...stricted the pipeline flow from two key oil and gas fields earlier this month. Formed out of the rebel units that ended Qadhafi’s rule in the 2011 revolution, the militia stand unopposed. The country’s army remains weak, and international efforts to grow its numbers by training soldiers are unfinished. Th...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014