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Saudi Arabia - Economic Data ($Bn)
...SAUDI ARABIA Saudi Arabia - Economic Data ($Bn) 2013** 2012** 2011P 2010 2009 2008 20...
Volume: 55Issue: 44Published at Fri, 26 Oct 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 -
Woodside Keen On Leviathan Partnership, Pelagic Prepares Aphrodite-2 Well
...13. Noble holds a 70% interest in Cyprus Block 12, where it discovered 7 tcf (198 bcm) of gas in December 2011. MEES understands that the Cypriot government on 23 October approved a transfer of 30% of Block 12 interest to the Delek Group subsidiaries, Delek Drilling and Avner Oil & Gas. In re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Noble Energy Expects More Gas In Block 12
...cember 2011 following the discovery. “We made that nice discovery of 7 tcf, but we think there is a lot more potentially there and we will be chasing additional gas fields [in Block 12],” Mr Tomich said, speaking at a press conference in Nicosia on 24 October. “We are planning to drill the ap...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Jordan In Talks To Resume Egyptian Gas Imports
...ectricity needs. But the disruption of the flow of Egyptian gas after the overthrow of the Mubarak regime, and the rise in international oil prices, has cost the country over JD2bn ($2.8bn) in subsidies since 2011 and this is forecast to rise by an additional JD1.2bn ($1.7bn) by the end of the year, ac...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
IEA Predicts Bleaker Days Ahead For OPEC
...% of incremen-tal global liquids supply of 9.3mn b/d through to 2017, only second to North America’s 40% (largely from oil sands or tight oil). And for OPEC, Iraq is likely to be still more significant, supplying over 50% of a projected 3.34mn b/d increase for 2011-17. The MTOMR confirms findings of...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
2012 Settlement Prices For Benchmark Crudes ($/B)
...untry GDP+ GDP per Capita $ 2011 Inflation % ++ Unemployment % Exchange Rate Per $ Rating Moodys Rating S&P Country Ri...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Kurds Push For Energy Independence
...ndensate) up from 300mn cfd, (MEES, 18 July 2011). “This has ensured almost continuous power supply for 4mn people in the Kurdistan Region, in contrast to the electricity crisis in other parts of Iraq, and provided $5.4bn of savings in fuel costs for the government,” Dana Gas said. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Sudan To Miss 2012 Oil Production Target
...or, prompting China's state-owned CNPC, which holds a majority stake in Block 6, to relinquish parts of the concession in 2005. Sudan lost around 75% of its total oil output when the South seceded in July last year (MEES, 11 July 2011), leaving the oil-dependent economy desperate for revenues and fa...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Damage To Syrian Oil Sector Estimated At $2.9Bn
...awra last week. He added that government oil facilities and associated infrastructure sustained losses of some S£5bn ($72.5mn). Oil production declined as a result of the fall in crude exports after EU sanctions were imposed on Syria in September 2011 (MEES, 12 September 2011). He explained that tr...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Qatargas Secures Third Japanese LNG Supply Contract of 2012
...0 2011 Not decided HOA Apr-08 PetroChina 3.0 2010 25 SPA Ju...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Turkey Turning To Nuclear Power, Counting On Coal
...wer generation by 2023, the republic’s centennial year. The disaster at Japan’s Fukushima nuclear plant in March 2011 and its repercussions forced a re-think in Ankara about nuclear power, but it now appears that Turkey’s future energy needs have convinced the government that reactor-ge...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Wärtsilä-Led Group To Build Jordan Power Plant
...om Egypt was reduced following the overthrow of the Husni Mubarak regime in early 2011 (MEES, 12 October). Wärtsilä’s partner in the project is South Korea’s Lotte Engineering and Construction. The Finnish firm noted that it has a minority interest in ‘Amman Asia Electric Power, where th...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Aramco Sees Energy Paradigm Shift
...ogram (MEES, 28 November 2011). But the problem was “misleading hype” about how quickly renewables could make an impact. “As a result there have been a lot of disappointments,” he noted. ...
Volume: 55Issue: 43Published at Fri, 19 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 -
Payment Delays Turn Independents Away From Egypt
...PC) 2011/12 bid round (which, after being put back twice, closed in April) a bid failed to materialize. By its second quarter results presentation on 23 August the company had dropped almost all mention of Egypt. The 2011-12 EGPC bid round, which was launched amid post-revolutionary op...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Turkey’s Gas Imports Hit By Bombs And Sanctions
...aimed responsibility it is thought to be responsible for all four blasts. Turkey imported 3.8bcm/y through the Baku-Tblisi-Erzurum pipeline (also known as the South Caucasus Pipeline, SCP) for 2011. Some additional volumes flow via Turkey to Greece but despite this the route has been op...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Saudi Aramco Discovers New Gas Field
...ell-led South Rub΄i al-Khali Company (SRAK) appears to be potentially moving towards development phase, and even this development is for the Kidan sour gas field, discovered decades before the SRAK’s exploration program (MEES, 21 November 2011) . ...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Oil-Rich Abyei No Longer Open For Discussion, Juba Says
...adlock on the Abyei referendum on the grounds it ignored the eligibility of the predominantly Muslim nomadic people of the Misseriya tribe to vote. By way of a protocol, the 2005 CPA had originally granted Abyei a January 2011 referendum in order to decide whether it joined the South, or re...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Noble Energy Leases New Drillship For East Mediterranean
...r the well is 7,400ms (MEES, 7 May). “High well pressure and the mechanical limits of the wellbore design resulted in the suspension of drilling operations before the primary objective was reached,” Noble said at the time. In November 2011, DMSE entered a heads of agreement with the pa...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012