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Iran’s Economy Facing a Challenging Year
...dden surge in consumer prices, however, is clearly attributable to the drastic plunge in the free market value of the rial—from about $1=IR12,000 in December 2011 to about $1=IR34,000 in recent days. The national currency, which had been distinctly overvalued for years and in desperate need of ad...
Volume: 56Issue: 14Published at Fri, 05 Apr 2013 -
Between A Rock And A Hard Place: Egypt’s New Natural Gas Supply Policy
...rbouche and Robert Mabro “Egypt’s Natural Gas Market: So far so Good, But where to Next?” in Bassam Fattouh and Jonathan Stern (Ed.) Natural Gas Markets in the Middle East and North Africa, Oxford Institute for Energy Studies, 2011. 2. USGS, “Assessment of Undiscovered Conventional Oil and Gas Re...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013 -
Algerian Gas Faces Three Challenges
...geria. The country’s gross production of natural gas in 2011 was 6.7tcf compared with 6.8tcf the year before. Of this total, 2.9tcf was marketed at home and abroad while the rest was re-injected to enhance oil recovery, flared or lost due to shrinkage. According to Paris-based gas association Cedigaz es...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
An Evaluation of EU-Russian Energy Relations - A Policy Perspective
...ices has coincided with lower gas demand. With the continued Eurozone debt crisis damaging economic recovery, oil-indexed pricing is coming under increasing pressure. In 2009 Statoil reduced oil indexation to 75% in its contracts, compared with Gazprom’s 85% in 2011. If Statoil again re...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Examining The CBI-Iraq Government Conflict – A Focus On Forex
...ccess to secure loans from the CBI to finance a possible deficit in the budget. (Article 26 of the CBI Law prohibits lending to the government.) Since then, efforts to limit the bank’s independence resulted in a decision by the High Federal Court in January 2011 to subordinate the CBI and other in...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
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 -
Why The Middle East Will Lead The World In Developing Sustainable Energy
...nkings* Country 2012 Rank 2011 Rank 2010 Rank Qatar 41 48 38 UA...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Iran’s Subsidy Reform: RIP
...ants to individual consumers on the basis of need was found impractical, and everyone in a family was given the same amount of cash (MEES, 20 June 2011). Unhappy about the government’s undue haste in raising prices much faster than provided for in the law, dissatisfied with uniform mo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
IIF Projects 3.5% Drop In Iran’s GDP In 2012
...IRAN IIF Projects 3.5% Drop In Iran’s GDP In 2012 Iran’s GDP in 2012 is expected to shrink by 3.5% from a positive growth of 1.2% in 2011, the Washington-based Institute of International Finance (IIF) has said in a report on the MENA region. The IIF noted that we...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Electric Vehicles On Their Way To Mainstream Use?
...chnology/china-to-boost-electric-car-industry_55452.html “Energy Dept Says US on Track for 1M Electric Cars by 2015,” Apr 14, 2011, reuters.com, available at http://www.reuters.com/article/2011/04/14/idUS89057392520110414 “Battle of the Batteries: Comparing Electric Car Range, Charge Ti...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Sanctions Raise Questions About Iran’s Export Capacity
...d by 2015. According to the BP Statistical Review of the World Energy (June 2012), Iran consumed 153.3 bcm of natural gas in 2011, while its production was 151.8 bcm, meaning that at the moment it has no extra capacity for export. Nonetheless, it has continued to try to implement its ag...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
Strait of Hormuz: Alternate Oil Routes Not Enough
...crude oil and oil products that transited through the Strait in 2011 was close to 17mn b/d, accounting for 31% of global oil trade. Much less sizable, but equally important proportionally, LNG volumes amounted to the oil equivalent of 2mn b/d representing 33% of world LNG trade. As far as...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
The Coming Wave: Global Oil Price Volatility
...uctuations without engaging in actual delivery contracts. As may be seen in figure 2, the number of oil futures contracts rose to approximately 1.6mn by the end of 2011 from approximately 450,000 in 2000. This excludes the less-transparent over-the-counter (OTC) market, where there is other major oil trading ac...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Saudi Arabia Battles To Cut Power Sector Fuel Consumption
...cording to the Kingdom’s Electricity and Cogeneration Regulatory Authority, between 2000 and 2009 gas consumption for power generation grew by 94% to reach 22.1mn cm/d. In 2010, crude oil continued to command the largest share, at 40% of fuel consumption. In 2011, this decreased by 3%, while the share of ga...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Oil Price Slumps And OPEC’s Impossible Dilemma
...an idea that only four or five years ago would have been regarded as lunatic. The in-joke last year among oil market watchers was that North Dakota would be the next member of OPEC. In 2011, North Dakota produced more oil than OPEC’s Ecuador! Thus the dilemma is simple. OPEC co...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Russia Consolidates Its Position In Iraq Upstream Petroleum
...rmed a new consortium with KMG in October 2010, leading to winning 'Akkaz gas field with a remuneration fee of $5.50/boe. And after the withdrawal of KMG due to the delay in concluding the contract, Kogas took full control of the deal on its own in June 2011. So, for the PetroVietnam/Premier Oi...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Hisham Khatib: Letter To The Editor
...two elements. The numerator is the algebraic sum of government expenditures, minus non-hydrocarbon…. In Figure 3 ‘Total hydrocarbon demand’ should read ‘Total hydrocarbon domestic demand’. Also in Table 1 (2011 WOO) should read (2011 WEO). Sincerely, Dr Hisham Khatib Gl...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Fiscal Break-Even Prices Revisited: What More Could They Tell Us About OPEC Policy Intent?
...vernments’ fiscal take, discount factor and long term population dynamics. They are calibrated as summarized in Table 1 and briefly expounded upon below. Table 1: Basic Assumptions For OPEC Revenue Simulations Reference Date: 2011 Assumptions Re...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
Iran: The Rial Saga
...e rial, has been added to the Islamic Republic’s other thorny and protracted economic woes. After nearly a decade of relative stability in both the official and free market, the rial experienced a precipitous plunge in late December 2011, and subsequently lost nearly half of its value within a short ti...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Global Trends In Renewable Energy Investment: A Review Of The Frankfurt School-UNEP Report And Discussion Of The MENA Case
...vestment. The central finding of the report is that in 2011, global new investment in renewable power and fuels (solar, wind, modern biomass, waste-to-energy, biofuels, small hydro, geothermal and marine) increased by 17% to reach an all-time high of $257bn. This was more than six times the amount achieved in...
Volume: 55Issue: 30Published at Mon, 23 Jul 2012