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Iran: Planning A New Mirage
...ganization was divided into two newly created bureaus in the President’s office: “Planning and Guidance Supervision” and “Management and Human Capital Development.” The Fifth Plan: 2011-2015 After a long delay in its preparation, the text of the Fifth Plan was approved in January 2011 by the Majlis wi...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 59.95 67.18 71.75 75.48 84.33 97.25 103.00 98...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Healed GCC Is To Meet In Doha, Discuss Stronger Military Ties
...gional security – including the expansionary Islamic State and the GCC’s rival across the Gulf, Iran – the group will likely only be capable of taking baby steps towards that goal. GCC defense spending has come off its early 2000s highs but outlays have spiked since unrest rocked the MENA region in 2011...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Egypt Secures Funding For Further IOC Payments
...vember). Egypt first reduced a debt pile that had been growing steadily since the 2011 revolution with a $1.5bn tranche last December, and repaid a further $1.5bn in October. Throughout 2014, the government has also been able to promptly pay producers for current output, according to Petroleum Minister Sh...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Dollar Strength Lessens Impact Of Oil Price Slide
...eir revenue since prices hit their peak in mid-June. The OPEC basket then briefly topped $110/B; since OPEC decided against cutting output on 28 November its value has fallen below $70/B. Current prices (OPEC Basket) of around $68/B are 37% down on the $107/B that they averaged between January 2011...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 66.81 71.75 75.44 75.48 84.33 97.25 103.00 98...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Egypt Closing In On Debt Repayment And New Bid Round, Minister Says
...er the next five years. According to the government, it had released a second tranche worth $1.5bn to producers at the beginning of the month. Debts to IOCs that had accumulated in the aftermath of the 2011 revolution were first addressed with a $1.5bn payment in December 2013. Apart from ch...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
GCC Petchems Producers Need To Broaden Feedstock-Aramco
...07 2009 2011 2013 Saudi Arabia 36.1 44.1 54.4 73.0 83.1 91.5 Qa...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
GCC Grid Growth Stalled As Oman Set To Join
...GWh in 2010 to 815GWh in 2013, though even the higher figure represents less than 0.25% of regional demand. Scheduled trading started at 0.31GWh in 2010 and rose to 46GWh in 2011, but has been zero ever since (see chart). Announcing Oman’s decision to join the GCC grid, GCCIA director Matar al-Ni...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
After The Hype, OPEC Meeting Ends With A Whimper
...one. Leaky Ceiling The collective ceiling has been in place since 2011 but has been leaky with members consistently failing to comply with their individual allocations. Monthly surveys of OPEC’s production by MEES show that the group has overproduced the ceiling since June, despite erratic pr...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Iran Oil Exports To Rise In 2015 Despite Nuclear ‘No-Deal’
...wn, averaging less than 1.3mn b/d for the first ten months of 2014 (including condensate), versus 2.53mn b/d in 2011 (see graphs). Condensate Boost Speaking in Vienna this week, Iran’s Oil Minister Bijan Zanganeh said that despite the sanctions, Iran is still targeting an increase in exports ov...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Gulfsands, Vitol Subsidiary In MENA Tie-Up
...REGIONAL Gulfsands, Vitol Subsidiary In MENA Tie-Up UK minnow Gulfsands Petroleum looks to finally emerge from dormancy after sanctions halted its Syria operations, its only producing assets in late 2011. On 19 November, Gulfsands announced that it has entered into a strategic pa...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Oman Set To Cut Spending For 2015 As Revenues Slide
...r January-October), the fact that they have fallen below the $85/B mark since mid-October and are now well below this has sounded the warning bells. Current $72/B prices for Oman crude are down by 35% from their $110/B June peak (see p20). Prices averaged a buoyant $105-110/B for 2011 through 2013, gi...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Qatar Looks Resilient To Lower Oil Prices
...me on its hands to formulate a response to the evolving LNG market – welcome breathing room for Qatargas and RasGas, which seemed almost resigned to a lesser role in the market in the years ahead. Qatar has controlled about a third of the global LNG market since completing its last train in 2011 and no...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Egypt: IMF Praise
...July). Instability after the January 2011 revolution delayed these politically-sensitive cuts for some time. For the IMF energy sector reforms and sizeable investments will be critical to reduce energy supply bottlenecks and boost growth. Mr Jarvis says that Cairo is seeking to reduce the bu...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Jordan Moves Toward Austerity In 2015
...ssion Chief to Jordan Kristina Kostial who said earlier this month that the kingdom’s indebtedness could reach 89% of GDP by end 2014, from 71% in 2011. Ms Kostial added that to address this problem, the authorities have to control public finances, especially those related to the central government and se...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
US Petroleum Imports, Exports, Demand (‘000 B/D)
...2013 vs2012 2013 2012 2011 2010 2009 CRUDE OIL IMPORTS 7,329 7,293 7,508 7,...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 69.02 75.44 76.51 84.33 93.13 97.25 103.00 98...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
The Oil Price Slide: Just How Bad Is It For Iran?
...richment. Specific restrictions targeting Iran’s oil revenues, introduced some three years ago, have only made matters worse for Tehran, effectively slashing oil exports to between 1.1mn and 1.2mn b/d so far this year, from an average of 2.5mn b/d in 2011. Pick Of The Bunch With the recent slowdown in...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Tripoli Could Face International Sanctions Over Terror Links
...the 2011 revolution that toppled the former leader Mu’ammar al-Qadhafi and plunged the country into chaos. The revival was slowed by strikes at the Intisar and Gialo fields in the eastern Sirte basin, Libya’s oil heartland. The raid on Sharara reversed the trend, and output is now estimated at ar...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014