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Benchmark Crude Prices* /Official Iraqi Oil & Gas Data^ ('000 b/d) / Economic Data – MENA
...12 2011 2010 WTI 88.07 87.92 86.28 89.57 94.69 92.21 93.64 95...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Yemen Looks To Gulf For Oil, Gas Investment
...terest in its oil and gas industry. Crude production in Yemen has been in steady decline over the past decade, with BP estimating the country’s 2011 production at 228,000 b/d, down 24% from the 2010 figure of 301,000 b/d, and 50% off 2001’s 455,000 b/d. The authorities have recently stressed th...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Deadlock Continues In Sudan – South Sudan Oil Row
...beration Movement (SPLM) in 2011, the SPLM-N remained in Sudan following the South’s breakaway from Sudan last July (MEES, 11 July 2011), and is currently most active in the Sudanese states of Blue Nile and South Kordofan. “This is impossible,” said President Kiir of Sudan’s demand. “We are in a di...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Edison Takes Stake in Israel’s Upstream Sector
...nsortium administering the 9 bcm/y capacity Al-‘Arish –Ashkelon gas pipeline. The contracts were estimated to be worth around $5-10bn over 20 years. They called for the 1.4 bcm/y exports to start in 2011, and volumes could later be expanded to 2.9 bcm/y (MEES, 20 December 2010). But the EMG line wa...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Jordan Opens Petroleum Distribution Market
...a substitute for Egyptian gas supply which had become unreliable since 2011. ...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Shah Deniz Partners Eye TANAP, Nabucco West Stakes
...DK also granted a gas import license to Bati Hatti Gas Company for 23 years. The combined annual volume all four traders for the duration of their permits cannot exceed 6 bcm, which is equal to approximately 15% of Turkish gas consumption. Botas decided in October 2011 (MEES, 17 October 2011...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
GPCA Sees GCC Petrochemicals Capacity Reaching 145Mn T/Y In 2016
... REGIONAL GPCA Sees GCC Petrochemicals Capacity Reaching 145Mn T/Y In 2016 By David Knott Gulf Cooperation Council (GCC) regional petrochemicals production capacity will rise to 145-146mn tons/year in 2016 from 116mn t/y in 2011, according to Gulf Pe...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
MENA Pushing Solar As Climate Change Talks Start In Doha
...a substantial fall in costs, because of widening deployment and substantial oversupply. The agency’s World Energy Outlook 2012 envisages global solar PV capacity increasing from 67gw in 2011 to 600gw in 2035. Yet in 2035 solar PV will account for only 7.5% of global renewables capacity – half will co...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria Awards Ain Arnat Contract To Korean Firms
...mand growth of 12.3% a year between now and 2017. Sonelgaz noted that demand on the grid outstripped supply in August, with record demand of 10.06gw exceeding the 2011 peak by more than 14% (MEES, 27 August). Sonelgaz was forced to undertake load-shedding over the summer, particularly in the southeast, be...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Iran Still Trying To Sidestep Sanctions
...e largest buyer of Iranian crude, data published by the country’s General Administration of Customs on 21 November indicates a fall of close to 22% in Iranian imports since the beginning of the year. In October Chinese imports were 23.2% lower than the same month in 2011. South Korea’s national oil co...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria’s South West Gas Project Delayed To Late-2016
...scussions related to the finer points of the July 2011 development plan have been ongoing “for some period of time… six months ago, I would have said that it close to finishing…but is always one week more. …we still have some small differences on how to split the rent,” Total boss Christophe de Margerie sa...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Qatari Condensate Production On The Rise
...ojects left, leaving only the downstream sector as an opportunity. Qatar Base Case Condensate Supply 2011 2012 2013 2014 2015 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
POGC And Sonatrach Step Up Libyan Exploration; Others Wait On Sidelines
...d Production Agreement framework, known as EPSA-IV. As part of the 2008 award POGC committed to spending $108mn drilling at least eight wells. The company shot initial seismic in 2010 and had been about to kick off a drilling campaign in February 2011 when the Revolution got into full swing. The co...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
South Sudan Oil Restart Pushed Back
...other this week after Juba was forced to delay its long-awaited oil production restart on account of some new security-related demands it says Khartoum has made. South Sudan, which broke away from Sudan in July 2011, took the unprecedented decision to shut down its near 350,000 b/d of oil pr...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Washington Likely To Maintain Global Energy Policy Commitment
...sessing the impact of an expected 1.25mn b/d drop in OPEC crude demand next quarter (see table). An upward revision to the view on OPEC NGLs and non-conventional supply dating back to 2011 prompted a downward revision to the MOMR’s projection for OPEC crude demand. This Call on OPEC is projected to...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Benchmark Crude Prices & Saudi Arabia - Economic Data
...12 2011 2010 WTI NA 86.28 85.99 89.57 94.69 92.21 93.64 95...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
IOOC Taps NDF To Finance Upstream Projects
...ntinued operation of the Forouzan, Reshadat and Hengam fields and is expected to provide another $500mn for the development of Farzad A gas field. In November 2011 IOOC signed a heads of agreement with Petropars for the $4bn development of Farzad A. Mr Zirakchianzadeh also announced the signing of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Cyprus Eyes Gas Pre-Sales To Plug Finances
...ceptable. Given a 2011 GDP of €17.5bn, Nicosia would not be allowed to borrow more than €21bn, leaving it with a €7bn funding gap. Total benefit from privatization of publicly owned companies would probably not exceed €1-1.5bn, and a 30%-40% haircut by existing bondholders is by no means assured, making fo...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
MENA Active Drilling Rigs
...12* October 2012 breakdown* Oct-12 Sep-12 Oct/ Sep Aug-12 Oct-11 2012/ 2011 Oc...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Iran Nuclear Plant Shut Down, UAE Gauges Impact Of Korea Safety Scam
...rrently on hold (MEES, 7 September). Iran Nuclear Power Plants Location Capacity (MW) Status Bushehr 1,000 Start-up September 2011. Reached full capacity September 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012