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Iraq Pencils In 3.4Mn B/D 2014 Exports But Lowers Output Targets
...IRAQ Iraq Pencils In 3.4Mn B/D 2014 Exports But Lowers Output Targets Iraq is aiming for average oil exports of 3.4mn b/d in 2014, including 400,000 b/d from the KRG. This would translate into a rise in Iraqi production to 3.7-3.75mn b/d assuming no further details to fi...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Algeria Drums Up Interest Ahead Of Bid Round
...ALGERIA Algeria Drums Up Interest Ahead Of Bid Round Algeria is preparing a bid round for early 2014. A global roadshow concluded last month shows Algiers is intent on improving the appeal of its hydrocarbon sector to international oil companies. State oil co...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
UAE Says 3.5Mn B/D Capacity Target On Schedule
...NOC is running this process and we have confidence in that,” he said though he declined to say how much of a delay he expected beyond the 10 January expiry of the 70-year concession. “The concession ends in 2014 and obviously there will be a delay. The delay will not impact us at all. The company wi...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Saudi Petchems Firms See Technology As Key To Specialized Markets
...chloride SABIC 2014 140,000 t/y ABS SABIC/Mitsubishi 2014 250,000 t/y MMA, 40,000 t/y PMMA Sipchem 2014 63,000 t/y polybutylene te...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
SEC Awards Revised Rabigh-2 IPP Project
...bruary). SEC has appointed Germany’s Fichtner as consultant for the Dhuba-1 ISCC, which it expected to start up in 2017. Dhuba-2 is still envisaged as an HFO-fired plant, with start-up planned for 2018. ACWA and Samsung are already building SEC’s 3.93GW Qurayyah IPP, which is due online in 2014. Qu...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Gathering Storm For OPEC As Iran Lays Down The Gauntlet
...set to decline by some 300,000 b/d in 2014 over 2013, according to IEA projections. “I will not give up on Iran’s right to produce 4mn b/d under any circumstances,” Mr Zanganeh, back in Vienna as minister for the first time since he last held the post eight years ago, told reporters ahead of th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Naimi: Saudi Arabia To Stay Above Iran, Iraq Fray
...not think there is a decrease in the call on OPEC. Q: OPEC’s latest report puts it at less than 30mn b/d. A: These are projections. We do not know what the facts will be. Q: Do you have room to cut in 2014? A: To cut? Why? Q: You don’t think in 2014 a cut is po...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Oman Poised To Curb State Expenditure In 2014
...OMAN Oman Poised To Curb State Expenditure In 2014 Oman has taken the strategic decision to put the brakes on state expenditure in 2014 after three years of sharp post-Arab Spring spending hikes. Outlining details of the draft budget to the Majlis al-Shura (State Co...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Libya: Forex Reserves On The Slide
...onomy shrinking by 5% in 2014 in the event of the protests continuing, and suggested that in a worst case scenario Libya may seek foreign loans. (The IMF projects a contraction of 5.1% in real GDP in 2013 - MEES, 22 November.) Referring to these figures, the bank’s statement said that “the CBL de...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Iran Budgets For $100/B
...IRAN Iran Budgets For $100/B Iran’s draft budget for the Iranian year 1393, starting on 21 March 2014, will be based on an oil price assumption of $100/B, a member of the Majlis Budget and Planning Commission Hadi Qavami told the Iranian Students News Agency (ISNA) on 1 De...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
The MENA Power Sector: Prospects And Challenges
...ticle concentrates on these challenges. Challenge #1: Electricity Demand Growth MENA power demand is growing at 6-8 % annually. Growth has been at such rates for decades and this is likely to continue. Regional development bank APICORP expects capacity to increase at 8.4% annually over 2014-18 (ME...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Barzan Start-Up To Raise Qatar LPG Exports
...mn tons/year. An additional 500,000 t/y of LPG is expected to be added once the Barzan gas project is commissioned in 2014.” Dr Sada told the conference that LPG demand is rising rapidly, particularly in the residential and commercial sector: “This is particularly evident in emerging economies such as...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
US LNG To Challenge Qatar In Key Asian Markets
...gher than current production levels, by the end of the current Iranian calendar year on 20 March 2014. While this pronouncement is likely without merit, it is worth pointing out that Iran has expansive gas reserves to tap. If a future agreement between the P5+1 countries and Iran relaxes sanctions and Ir...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Oman Takes Its Place In Gulf Refining Expansion
...sref) Yanbu’, S Arabia 400 U/C**. Due onstream 2014. Takreer (Ruwais Expansion) Ruwais, UAE 417 U/C. Due onstream 2014. NIOC (Persian Gulf St...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Hydrocarbons Remain Key To MENA Power Expansion
...nagement contract for PP13 and PP14 to Australia’s WorleyParsons. SEC plans to award engineering, procurement and construction (EPC) contracts for the plants in 2014 with a view to 2017 start-up (MEES, 3 May). In September, Korea’s Hyundai awarded France’s Alstom a €170mn contract for four 720MW steam tu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Oman Plans First Solar Unit Under Rural Plan
...ar. Start-up is scheduled for June 2014. AER decreed in March that Raeco must incorporate renewables technology – either solar or wind – in each project for which it seeks authority funding. AER estimates Raeco’s total generating capacity at 282MW from 45 diesel-fired plants. Most of Oman’s ca...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...-nation group meets to determine output policy for the first quarter of 2014, it will have to contend not only with the faster-than-expected rise in US shale oil production, but also prepare the ground for the eventual rise in Iranian oil output if the sanctions are scrapped. Back home, Iran has been bu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Lebanese Bid Round Hostage To Politicial Stalemate
...fore IOCs are sure what they are bidding for and under what specific terms – all subject to the approval of a future government. With no grand compromise in sight, it may be well into 2014 before Mr Salam is able to form a new government. It is therefore highly likely that there will be fu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Egypt’s Gas Crunch: Is A Quick Fix Possible?
...ne 2014. This fiscal burden has prevented it from paying oil and gas producers in full, and IOC receivables stood at over $6.4bn by the third quarter of this year – likely well over given that this figure excludes key producers such as Eni, Shell and Apache (see table, MEES, 15 November). Eg...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
GCC Growth ‘Robust’ Despite Geopolitical, Economic Headwinds-IMF
...ojects are implemented and private sector confidence remains high. For 2014, the IMF projects an increase in oil production, which, coupled with steady non-oil growth, would yield an overall GDP growth rate of just over 4%. Curbing Energy Consumption Absent policy reforms, the IMF expects GCC do...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013