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Challenges for Libya’s upstream sector
...nvince foreign firms to resume exploration in Libya. Key amongst the issues is the security situation, which links to the political future of Libya. The Return Of Libyan Production The successful return of Libyan oil production has been striking. In June 2011, at the height of the co...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Record Saudi Earnings Boost 2013 Budget Expenditure
...t just budget-to-budget but on actual figures year-on-year. Spending in 2012 saw a large increase from 2011’s levels and is way above budgeted expenditure, raising the issue of fiscal sustainability. “Higher spending could be challenging for fiscal sustainability in the medium- to long-term if there is...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Sudan Hikes Capacity Despite Continuing Oil Deadlock
...dan’s Vice President ‘Ali ‘Uthman Taha inaugurated another new field – the al-Najma field in South Kordofan state – which in 2011 was projected to produce around 12,000 b/d. Production from the field is expected to begin later this month. This field is located in the adjacent Block 17 license, operated by...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Gulf Refiners Set For Major Crude Distillation Capacity Boost
...mand is forecast to grow by 1.7mn b/d in 2011-17, while refining capacity additions over the period are expected to be 1.9mn b/d (MEES, 26 October 2012). Saudi Surge The first of the new Middle East mega-refineries, due on-stream this year, is the 400,000 b/d capacity Saudi Aramco To...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
MENA Power Generators Pushed Diversity In 2012
...velopments in the area of Sirri Island. The most conspicuous of Iran’s power projects has been the 1.0gw Bushehr nuclear plant – the region’s first, beginning operation in September 2011. It reached full capacity a year later (MEES, 7 September 2012). The plant was shut down in October 2012 af...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Buoys Will Be Buoys
...erall, output this year surged over 1.5mn b/d compared to 2011, despite stagnant projections for the Call on OPEC – OPEC itself puts 2012 demand for its crude at 30.12mn b/d compared to 30.07mn b/d the previous year. And with average 2012 basket prices of $109.45/B having outperformed 2011’s $107.46/B, 20...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Benchmark Crude Prices & Official Iraqi Oil And Gas Data
...v-12 Q4 2012 Q3 2012 2012 2011 WTI 92.92 89.97 88.69 88...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Libyan Sit-Ins Continue To Hit Output
...arter this year with the company currently waiting for the rig to arrive. The company’s previous well, completed just before the start of hostilities in February 2011 struck significant quantities of oil (MEES, 5 March 2012). ...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Dana Gas In Egypt Discovery; INA And Apache Expand
...lays of nine months or more during 2011,” company President Rodney Eichler adds. Other Egyptian oil industry figures sounded by MEES, including many who are otherwise highly critical of President Muhammad Mursi, also speak highly of Mr Kamal. Both Mr Eichler and Mr Farris, who is also he...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Lebanon Unveils Bid Round Schedule
...rtnerships before submitting prequalification bids to the PSA. Lebanese authorities initially indicated that the highly-anticipated first licensing round would be held in October 2011 (MEES, 29 November 2010), though political deadlock and a protracted debate regarding the sectarian makeup of th...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Iran And Turkmenistan Sign Gas Barter Agreement
...pansion of Turkmen gas exports to Iran. Under the agreement, Turkmenistan will increase its exports to 40mn cmd, from 27-30mn (9.85-10.95 bcm/y) cmd in 2011. According to Ashgabat-based traders Turkmenistan increased its exports to Iran by 10-15% in 2012. Iran uses Turkmen imports to meet de...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Qatargas Seals First Long-Term South-East Asian LNG Supply Deal
...15. “This is a momentous occasion for us, as this is the first long-term agreement for Qatargas in South-East Asia [notwithstanding the preliminary deal with Malaysia’s Petronas in 2011], and our first term contract with PTT,” said Qatargas CEO Khalid bin Khalifa Al Thani, who was present at the si...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Yemen Key Export Pipeline Resumes Flows
...lah Salih in early 2011. These protests, sparked by similar revolts in Tunisia and Egypt, led to the ousting of the Salih regime and created a power vacuum that armed groups have looked to exploit. Sustained attacks on the country’s oil pipelines and power lines had recently raised fe...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Saudi Arabia Tackles Water Demand Jump
...d Riyadh. Three plants at Yanbu’, Ras al-Khair and Jubail will add 1.7mn cmd – state-owned Saline Water Conversion Corporation (SWCC), which produces most of the country’s desalinated water, currently produces 3.5mn cmd. In 2011 the SWCC governor said Saudi Arabia plans to invest $106bn in building ne...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013 -
Yemen To Face Challenging 2013
...pelines and electricity transmission lines continued throughout the year (see page 11), the IMF said it saw signs of economic activity reviving, after a more than a 10% fall in 2011. The inflation rate has now come down to single digits, while the exchange rate has appreciated and stabilized at pre-crisis le...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013