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Iraqi Deputy Prime Minister Warns On KRG Exports
...rket for our additional crude production…. (SOMO Director Falah al-‘Amri said Indian requirements for 2014 are likely to be more than the current 400,000 b/d, because some companies have requested more, but the exact volume is not known.) Q: What about long-term deals? A: Iraq normally ma...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
New Lebanon Bid Round Delay
...LEBANON New Lebanon Bid Round Delay Lebanon’s caretaker Minister of Energy and Water Gebran Bassil says international oil companies (IOCs) have an additional month to submit their bids for rights to explore Lebanon’s offshore. The new deadline of 10 January 2014 follows an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Jordan Receives 51 Applications For ‘Amman Products Terminal
...JORDAN Jordan Receives 51 Applications For ‘Amman Products Terminal Jordan’s Ministry of Energy and Mineral Resources has announced that 51 companies and consortia have applied for prequalification to build a strategic products reserves terminal near ‘Amman during 2014-15. Mo...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...owth by 0.13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in eq...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Challenges To KRG Political Stability
...ections in the spring of 2014. A negative Kurdish response will mean an indefinite postponement of the federal elections. A second matter requiring Mr Barzani’s attention is the question of relations with Kurds in the neighboring states of Syria, Turkey and Iran and whether the time has come to ca...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Majors Look To Cling On To ADCO Stakes
...bid by state-owned ADNOC, their 2% in ADCO translates into 36% of total production. Regardless of these percentages, the stakes are high and the Abu Dhabi authorities are keeping their legacy foreign oil operators on tenterhooks as they consider options ahead of contract expiry in January 2014...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Algeria’s 2014 Draft Budget Ups Deficit By 12.4%
...ALGERIA Algeria’s 2014 Draft Budget Ups Deficit By 12.4% Algeria’s 2014 budget indicates a deficit of AD3,438bn ($43.6bn at $1=AD78.8), up 12.4% on 2013. The 2014 deficit will represent 18.1% of GDP, up from 12.8% for 2013. The draft law was presented to parliamentary co...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
IMF Downgrades MENA Growth Forecasts
...REGIONAL IMF Downgrades MENA Growth Forecasts Real GDP growth in the MENA region is expected to decline to 2.1% in 2013 from 4.6% in 2012, before rising to 3.8% in 2014, according to the IMF latest six-monthly World Economic Outlook released on 8 October. The 2013 pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Kuwait Finance Minister Calls For Leaner Public Sector And Reforms
...10 2011 *2012 *2013 (P) 2014(P) Oil and gas exports ($bn) 82.6 48.9 61.8 96.7 11...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in equity pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Iraqi September Exports Fall 500,000 B/D With Basra Maintenance
...rmal levels by the end of the month. Iraq’s designed export capacity is set to expand to 5.6mn b/d by early 2014 once two more SPMs, each with capacity to handle 450,000 b/d, are installed and pipelines tied to a central platform. This would theoretically cater to anticipated higher ou...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Libya: ’Arusi Confident Despite Wafa Outage
...nocoPhillips remain shut. NOC has taken advantage of the forced shutdown to bring forward extensive maintenance on the cluster of Waha fields which had been due to start in 2014. Waha, is one of Libya’s key producers, though labor strikes in recent months kept output below nominal 365,000 b/d capacity even be...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
ADNOC Prepares Contingencies As Clock Ticks On ADCO Concession
...%, Shell, BP, Total and ExxonMobil each with 9.5% and Portugal’s Partex, 2%. Each of the major partners (ie excluding Partex), now has to submit bids for a slice of a redesigned ADCO consortium, which currently accounts for roughly half of total UAE production. The concession expires in January 2014...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Dubai Refinery Doubts Amid Gulf Capacity Surge
...test Dimensions International magazine says construction is expected to be completed in June 2014. Gulf Refining Project Operator (Project) Location Plan Aramco/ExxonMobil (Samref) Yanbu’, S Ar...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Morocco’s ONEE Announces 2013-17 Electricity Plan
...e 300MW Tarfaya wind farm at the end of 2014 and Spain’s Gamesa is adding 120MW of capacity at the Metline and Kchabta wind farms (MEES, 23 August)....
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
OPEC Relaxed On Supply, Prices
...OPEC Secretary-General ‘Abd Allah al-Badri is not losing any sleep over the impact of surging tight oil production in the US, which he says will be short-lived. He says oil prices above $100/B are “reasonable” and likely to hold at current levels at least until the end of 2014. The call on OP...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Iranian Economy Shrinks By 5.4%
...bn in the year to 20 March 2014, from $50bn a year earlier, according to the NDF Deputy Director Qasim Hosseini. By law 20% of oil revenue is usually allocated to the NDF, which is intended to finance major development projects. In addition to the NDF, the Iranian government with pa...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Damage To Syrian Economy Tops $20Bn – Officials
...me buildings and infrastructure and that a further S£50bn ($365mn) have been allocated in the 2014 draft budget to continue reconstruction activities. Prime Minister Wail al-Halqi last month called for austerity and rationalization of current and investment expenditure in the 2014 budget an...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
The US Shale Revolution, Part 3: Overcoming The Obstacles
...oice for power generation, the EIA projects in its May 2013 Short-Term Energy Outlook that “year-over-year increases in natural gas prices [will] contribute to declines in natural gas used for electric power generation from 25bn cfd in 2012 to 22.8bn cfd in 2013 and 22.2bn cfd in 2014.” Low we...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Obstacles For Qatari Crude Boost As QNB Sees 800,000 B/D By 2017
...veral obstacles in realizing 800,000 b/d by 2017. Large-Scale Investment Plans QP is implementing a $6.6bn development plan between 2010 and 2014, according to the QNB report. As Qatar concentrated on flagship LNG projects, it under-invested in oil production, eventually falling behind Om...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013