- Sort by:
- Score
- Published ▼
-
Algeria Confirms Six CCGT Awards, Plans New Solar, Mobile Units
...ectricity is expected in summer 2014. Meanwhile, Sonelgaz is evaluating projects for a total 25GW of solar capacity at Djanet (3MW), Tindouf (9MW) and Tamanrasset (13MW). Further projects in the 400MW program are to be announced soon. Sonelgaz says it has made “significant progress” recently on a 12...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
BP Slashes $700mn From Egypt Receivables
...mporary.” BP says is has secured an extension to September 2014 for its appraisal and exploitation agreement for the Bourarhat Sud block southwest of In Amenas. In an indication that the post-In Amenas security fallout is far from over, BP took the security-related decision to suspend activity at Bourarhat in...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
TAQA Buys More Indian Hydro, CEO Steps Down
...ctor Pension Investment Board has 39% and Indian private equity firm IDFC Alternatives 10%. The acquisition is expected to close in 2014, subject to regulatory and third party approvals. The Baspa Stage II and Karcham Wangtoo plants in the northern state of Himachal Pradesh have combined generating ca...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Tunisia Pledges Cuts To Avoid Economic ‘Catastrophe’
...crifices. This could be through rationalizing subsidies, but without touching the poorer classes,” he said in an interview with state television. He added: “We expected to borrow TD7bn ($4.4bn) in 2014,” but because of the economic crisis and the steep rise in the deficit, Tunisia’s foreign borrowing needs wi...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Moody’s Projects Firm GCC Growth in 2014
...REGIONAL Moody’s Projects Firm GCC Growth in 2014 Gulf Cooperation Council (GCC) economic growth will remain firm overall in 2014 at 4.3% supported by the non-hydrocarbon sector, but inflation will rise, Moody’s Investors Service says in a 4 March report. GCC countries ov...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
IMF: Cyprus On Track
...gures. This is almost two percentage points less bad than the figure given in the Troika’s previous review two months’ earlier (see graph). But 2014 growth estimates have been revised down to -4.8% from -3.9% in September’s first review (MEES, 20 September 2013). For 2013, private consumption co...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
UAE: Bonds Not Needed
...UAE UAE: Bonds Not Needed The UAE has no urgent need to issue federal bonds, the Minister of Finance and Dubai Crown Prince Shaikh Hamdan bin Rashid al-Maktum said on 22 February at a press conference to review the 2014 budget. But he said that the government, together wi...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Italy’s Eni In New Tirade Against Iraq Contract
...pay them around $12.5bn in 2014, he said. The efforts of the foreign oil companies since the first and second oil auctions were held in 2009-10 have helped to raise oil production capacity to levels above 3mn b/d from just over 2mn b/d before 2010. Exports are expected to average 2.7mn b/d th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iran Cuts Gasoline Additives
...ORDC, petrochemical components in gasoline are polluting and don’t meet standards. This gasoline will not be distributed in Tehran any more. Based on an agreement with the government for the next Iranian year [beginning 21 March 2014], no more gasoline will be received from petrochemical plants,” Mr Za...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
DNO Plan New KRG Pipeline, Targets 270,000 b/d End-2014 Output
...t to ramp up its exploration and appraisal program in 2014 after achieving yet another production milestone at Tawke. Bijan Mossavar-Rahmani, DNO’s Executive Chairman, said after announcing fourth quarter and provisional full 2013 results that Tawke had established a single day record for de...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
DNO Posts Mediocre ’13
...REGIONAL DNO Posts Mediocre ’13 Whilst work to fully commercialize the company’s 1bn barrel Tawke field in the KRG dominates DNO’s 2014, it also plans exploration wells in Oman and Tunisia this year. In Tunisia, DNO will focus on commercializing existing discoveries in th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Saudi Arabia On Track For 26% Refining Capacity Hike This Year
...eration. The new plants will add to 2.1mn b/d of capacity at seven fully operational refineries and 200,000 b/d at the first Satorp CDU, which was started up last year (MEES, 13 September 2013). This will take Saudi Arabian refining capacity to almost 3mn b/d by the end of 2014 (see table 1). Rising do...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iraq: Al-Sadr Withdrawal Realigns Shi’a Alliances Prior To Parliamentary Poll
...the failure of his economic policies. The 2014 draft budget (yet to be approved by parliament) is around $150bn, with a projected deficit of $30bn (MEES, 31 January). Some 93% of the public budget depends on oil revenue, according to IMF figures. Around 63% of public budget expenses are allotted to...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Saudi Arabia, Qatar And The Pakistani Prize
...the deadline to build its section of the line (MEES, 7 February). Iran’s Oil Ministry has stuck to its guns however, saying this week that Pakistan is “contractually obliged” to complete its side of the project by the (wholly unrealistic) original December 2014 deadline. Long-Term Ta...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Libya: Power Outages, Power Vacuum
...at wave. It is hardly a good time for power plants to fall into further disrepair. Libya’s government has so far failed to approve a budget for 2014, and admitted to curbing spending at several ministries, as income is reduced by the continued blockage of oil exports that is slashing re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Mauritania Hopes To Open New Atlantic Frontier
...rldwide. Banda Advances Meanwhile a positive final investment decision on the Banda offshore gas to power project, the other key element of Mauritania’s hoped for hydrocarbons renaissance, “is expected by the second quarter of 2014,” Premier Oil said on 27 February. First production is slated for 20...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iran Advances Subsidies Reform
...ipulated minimum will have to pay a penalty of three times the amount of the subsidies received. $2bn Savings The government expects the reform to translate into savings of IR480,000bn ($19.2bn) over the 2014-15 Iranian year. However, almost 90% of these ‘savings,’ some IR425,000bn ($17bn), has be...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt Banks: Moody’s Wary
...pply 150,000 tons of gasoline and diesel every month with effect from 1 March until the end of 2014, as part of the Kuwaiti grant to Egypt. Dimian Heads Finance Minister Prime Minister Ibrahim Mahlab has appointed Hani Qadri Dimian as Finance Minister, replacing Ahmad Jalal. Mr Dimian was as...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Groundhog Day In Iraqi Kurdistan: Oil Exports Stall, Again
...rder. Genel Admits Delay Mr Hayward’s remarks contrast with a more optimistic forecast he made in November last year, when he said that full commissioning of the pipeline would be complete by the end of 2013, allowing full exports to start in early 2014. Since early January, only crude oil from th...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Jordan Takes Plunge With Israel Gas Deal
...ich earlier this month secured a 25% stake in the Leviathan consortium, said on 19 February that the Leviathan joint venture expected to start front end and engineering work on the FLNG project some time in 2014. Woodside CEO Peter Coleman told a briefing after announcing annual results that a fi...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014