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IMF Says Kuwait’s 2012 Economic Outlook Positive Despite Political Instability
...nsultation in May, the IMF sounded an alarm bell when it noted “that government expenditure will exhaust all oil revenues by 2017” and warned that fiscal consolidation is needed in the medium term if current trends continue (MEES, 21 May). But economists played down this scenario because Kuwait has adequate re...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Kuwait’s Oil Minister Stands Firm Against MPs, Appoints Senior Management
...y that Kuwait’s foreign currency reserves will run out by 2017 if it doesn’t fix its finances. Minister of Electricity and Water 'Abd al-'Aziz al-Ibrahim has warned that the delay of al-Zour power plant will cause power generation shortages. Parliament had earlier demanded a halt to the pr...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
South Stream Construction To Begin By December
...s needs from Russia and wants to extend the existing contract from 2017 to 2035, while more than tripling the imported volumes to 1.7 bcm/y. Despite the establishment of Slovenia’s South Stream branch, the final onshore routing of the project has yet to be announced. MEES understands that th...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
IEA Sees Middle East Gas Expansion Serving Only Regional Needs In Medium Term
...leased on 5 June at the World Gas Conference in Kuala Lumpur, says that “Middle East gas production is expected to serve exclusively the regional gas market in the medium term, as it is unlikely that any export project, whether a pipeline or an LNG plant, would be completed by 2017.” The report observes th...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Jordan And Enefit Initial Deal For First Shale Oil Power Plant
...cilities. The agreement covers the production of 38,000 b/d of shale oil and the generation of up to 900mw of electricity from a shale oil fired plant. First oil was originally projected for 2017, but a report last month said that shale oil from 'Attarat could come as early as this September (MEES, 14 May). Th...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Kuwait’s Oil Minister Under Political Pressure In Dow Ruling Fall-Out
...nd (IMF) said in a report in May that Kuwait will exhaust its foreign currency reserves by 2017 if it keeps on spending at the current rate. Mr Husain told state-owned news agency KUNA of the Dow deal investigation panel: “The panel will review the feasibility study of the project and the so...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Japan Pushes CCS To Secure Stakes In Abu Dhabi Offshore Concessions
...ploying enhanced oil recovery (EOR) technology onshore and offshore, including CO2, Mr Muhairi said. This could take 20-40 years to achieve he added. ADNOC’s stated goal is to boost its yearly average production capacity to 3.5mn b/d by 2017 and plateau it until 2030. MEES calculates it will be able to ac...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
DEPA Sees Role For Israel/Cyprus Gas Exports In EU Southern Corridor Plan
...alian supply route, ITGI’s competitors will not be able to secure the necessary environmental and third party access exemption permits in time to meet the final selection deadline of June 2013, or the timetable set for the construction and commissioning of the pipeline by 2017-18. Mr Sachinis also said th...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Turkmenistan Signs 30 BCM/Y Trans-Afghan Deals
...rm gas needs, which would grow from 166.2mn cmd today to 473mn cmd in 2017-18, when TAPI is intended to be commissioned. Indian energy analysts have estimated that the cost of Turkmen gas may be $4-5/mn BTU, which would be less expensive than Gulf LNG imports. A former senior Indian energy ex...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Tunisia: Oil Production Slump Exacerbates Budget Shortfall
...g (for Tunisia) new fields are on the horizon, but none of these appear large enough to compensate for decline. In addition to Zarat, which could produce “tens of thousands of boe/d by 2017-18,” PA Resources has a further significant discovery, Elyssa on the southern limit of the Zarat permit. Fi...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
IMF Joins Chorus Calling Kuwait’s Spending Unsustainable
...WAIT IMF Joins Chorus Calling Kuwait’s Spending Unsustainable The IMF has joined other critics of Kuwaiti government policy in suggesting the country’s spending is unsustainable. In its Article IV consultation it estimates “that government expenditure will exhaust all oil revenues by 2017” and fi...
Volume: 55Issue: 21Published at Mon, 21 May 2012 -
Baghdad Kicks Off Production Target Talks
...favor of a major plateau reduction. Firstly, it has become increasingly clear that building the contracted 10mn b/d plus of new capacity, and more importantly the associated transportation and water injection infrastructure required by 2017, as stipulated in Iraq’s service contracts, is simply not vi...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Qatar To Invest Heavily In Crude Boost
...oduction sharing agreement (PSA), which expires in 2017. Doha, however, told Maersk to hold back on boosting capacity while it studied the reservoir to understand where it should plateau output to extend the field’s life. The reservoir has suffered from a pressure drop and sea water entering the reservoir, wh...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
IEA Warns Iraq Oil Failure Would Be ‘Very Bad News’ For Markets
...e wider energy industry it is Iraq’s final production level and its timing that is paramount. Iraq’s upstream bidding round contracts stipulate production plateaus that would give the country in excess of 12mn b/d by 2017, or 13mn b/d if the Kurdish region is included. But these targets are in...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Sudan To Hike Heglig Production, South Willing To Return To Talks
...ld a panel of top experts and officials involved in the structuring of Sudan’s mooted five-year political and economic plan to 2017. Following last week’s calls from the international community to put an end to the fighting and return to the negotiating table, South Sudan has made the first mo...
Volume: 55Issue: 20Published at Mon, 14 May 2012 -
Kuwait, Oman And Qatar Push Refinery And Condensate Splitter Projects
...IC) expect to prequalify engineering firms by year-end for the planned $5-10bn, 200,000-300,000 b/d Duqm refinery and petrochemical complex, allowing start-up in 2017. State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) expects to award construction contracts to expand it...
Volume: 55Issue: 18Published at Mon, 30 Apr 2012 -
Shahristani Eyes Extended Iraq Production Plateau Durations
...perts, realistic) revision to Iraq’s official 7-8mn b/d figure (MEES, 13 June 2011). Currently foreign operators have committed to maintaining plateau production for between seven and 13 years, with the plateau volumes to be reached by 2017. The critical Round 1 mega-developments – the 2....
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Abu Dhabi Burns More Crude And Gasoil To Meet Power Challenge
...abi’s program to inject carbon dioxide from up to 17 power stations and industrial plants into its oil fields, releasing reinjection gas. The CO2 output of a 1gw gas-fired plant could replace some 80mn cfd of natural gas. But its earliest start up would be 2017 (MEES, 2 April), and Abu Dhabi has yet to se...
Volume: 55Issue: 17Published at Mon, 23 Apr 2012 -
Oman Relies On PDO And BP To Meet Gas Challenge
...OMAN Oman Relies On PDO And BP To Meet Gas Challenge Oman is building gas-fueled power plants to meet demand that is rising at 7-8% per year. Before BP’s 1bn cfd tight gas project starts up at the end of 2016/early 2017 – which has slipped six months – Oman will rely heavily on Sh...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012 -
Kuwait Gives Optimistic Start-Up Dates For Asia-Pacific Refineries
...KUWAIT Kuwait Gives Optimistic Start-Up Dates For Asia-Pacific Refineries Kuwait’s joint venture refinery-petrochemical plants in China and Indonesia will start-up in 2015 and 2017 respectively, state-owned Kuwait Petroleum International (KPI) chief Husain Isma'il said on 10 April. An...
Volume: 55Issue: 16Published at Mon, 16 Apr 2012