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Iraq Hires Big Law Firm To Thwart KRG Export Plans
...transport 1.1mn b/d but – even when things have been running smoothly – it has only been operated at around a third of capacity in recent months. For January a mere 190,000 b/d of Iraqi crude was shipped via the Kirkuk-Ceyhan pipeline, down 50,000 b/d on December and down 250,000 b/d on 2011 vo...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
New Kuwait Inquiry Targets GDF Suez, Sumitomo Deal
...osecutor, where the case has sat unresolved since 2011. Yet the man who led the charge against the Shell deal, ‘Ali Salih al-‘Umair, was recently appointed Minister of Oil. The al-Zour IWPP is not alone in the latest round of parliamentary scrutiny: also targeted is a $4.4bn deal to purchase 25 new Ai...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Dana Gas Sees Production But Also Receivables Rise in 2013
...bitration. Dana Gas reported an 8% increase in overall production across its KRG and Egypt asset base, reaching 64,700 barrels of oil equivalent per day (boe/d) in 2013, compared with 2012 levels of 59,800 boe/d. Production in 2013 was still 2.3% lower than the firm’s 2011 net production level. While KRG pr...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
IMF Approves $507Mn Credit To Tunisia
...ternal buffers and foster higher inclusive growth, following the economic difficulties and series of external shocks arising after the 2011 revolution. Protracted Transition Commenting on the release of the second tranche, the IMF’s Deputy Managing Director, Nemat Shafik said that “Tunisia is go...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Jordan’s Budget Challenges: Energy And Refugees
...s large deficit, and indicated that it was looking for alternative sources of energy to lower the public debt arising from high energy costs. Prior to the Egyptian revolution of 2011, Jordan generated around 80% of its electricity from Egyptian gas imported at preferential prices. Supplies have si...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
US Shale Gas: A New Option For Japanese LNG Supply
...INTERNATIONAL US Shale Gas: A New Option For Japanese LNG Supply By-James Jensen Japan has increasingly been forced, since the 2009 recession, to face severe challenges to its energy and environmental policies. The March 2011 Fukushima disaster placed the fu...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 97.84 97.24 95.91 94.81 97.91 97.54 105.73 98...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Exxon Shrugs Off West Qurna-1 Cut
...Cs’ unattractive terms, which do not allow IOCs to book reserves, led ExxonMobil to ignore Baghdad’s threats of expulsion and sign production-sharing contracts for six KRG exploration blocks in 2011. ExxonMobil has managed to retain its WQ-1 operatorship, having reduced its stake from 60% to 25%, wh...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Iraq, KRG Narrow Differences In Oil Row But Final Accord Elusive
...ditional $2bn to the KRG, rather less than the $9bn that Erbil says is owed by Baghdad for oil sales between 2011 and 2013, when the KRG halted exports of some 150,000 b/d because of the row over non-payment to foreign contractors. But he reiterated the Iraqi government’s position that no oil could be ex...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...nce mid-2012 been required to dramatically reduce its imports of Iranian crude oil so as to stay in line with US sanctions placed on Iran’s key oil and banking sectors. Washington in late 2011 passed a law cutting off access to the US financial system for entities involved in oil trade with Iran and it...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Force Majeure A Reminder Of Risks For Energy Producers In Egypt
...wn the impact of the Arab Spring upheaval on business, even as the amount of outstanding receivables continued to grow. Gas Pipeline Bombed, Again But while oil and gas production sites have remained unaffected by the violence that has periodically engulfed Egypt’s main cities since 2011 (th...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Rafsanjani Criticizes IRGC’s Economic Power
...e Iranian rail network (MEES, 16 November). The previous Minister of Petroleum Rostam Qasemi, who served as managing director of Khatam al-Anbia before his appointment in August 2011, called for expansion of the role of the IRGC-affiliated engineering firm in the economy, by becoming a “re...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
UN Sees Polarized Performance In Arab Region
...anwhile Syria’s oil production (from government-controlled fields) has sunk to a new low of 13,000 b/d, or about 3.5% of 385,000 b/d at the beginning of the crisis in 2011, Syria’s Deputy Minister of Petroleum Hasan Zainab told the local daily Tishreen on 23 January. He estimates Syria’s oil-related ec...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Mauritania Bags $850Mn
...ending heavily on food and energy subsidies and higher public sector salaries in 2011-12. Qatar was the last of the four Gulf states to sign the aid accord with Morocco....
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
The North Sea & OPEC, Contrasting Policies, But Comparable Oil Resources?
...rrels. Avaldness Field was discovered in 2010 with reserves estimated at about 0.4bn barrels, but with upward revisions they could be nearly 2bn barrels. The Schiehallion and Loyal Fields went onstream in 1988 and had produced about 400mn barrels by 2011 when about 450mn barrels were added to the re...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 98.23 95.91 93.38 97.91 93.85 97.54 105.73 98...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Bid Round Puts Algeria’s New Hydrocarbon Law To The Test
...ALGERIA Bid Round Puts Algeria’s New Hydrocarbon Law To The Test Algeria launched its first bid round since 2011 this week, seeking to stem declining output with improved terms. But it will have to banish the ghosts of In Amenas. Algeria launched a long-anticipated bid round this we...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Gas The Priority For Iran’s New Oil Team
...14 2020+ 1.8 77 14 50 2014 2020+ 1.8 77 15,16 90 2011...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Jordan Left With Few Gas Options After BP Abandons Risha
...an. Yet, a severely limited set of options may force Jordan to look seriously at Israeli gas import proposals going forward. Until January 2011, Jordan depended on Egyptian gas supplies via the Arab Gas Pipeline (AGP). Contracted volumes called for 250mn cfd of exports to Jordan to supply power st...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Libya: Situation Normal, All Falling Apart
...my is no match for the plethora of militia groups that effectively control the country. These include radical Islamists that have made their presence noticed by fighting government forces in Benghazi. The militias’ unchecked rule has led to the unlawful incarceration of thousands of Libyans since the 2011...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014