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IOCs Hold Steady Despite Yemen’s Political Crisis
...ose, following six months of consultations over the signing of a new constitution and the forthcoming elections in 2014. Organizers have decided to extend the process by another two weeks however, to allow participants more time to debate a number of as yet unresolved issues – primarily that of...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Qatargas Signs Flexible UK LNG Deal With Malaysian State Firm Petronas
...s shift from Europe and the US, where demand is falling, to the Asia-Pacific market. Under the terms of the deal, Qatargas-4 – a joint venture, 70% controlled by Qatar Petroleum (QP) and 30% Shell – will supply Petronas’ Dragon LNG Terminal in Wales from January 2014; however, the deal is fl...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
MENA Generators Pushing Non-Conventional Power Projects
...MW farm at Qatinah in Homs province; a 100MW at al-Sukhnah in Homs province; and a 50MW at al-Halas in Qunaitra province. Bids are requested to be submitted to the ministry’s National Energy Research Center by 6 January 2014. MENA Non-Conventional Power Projects Co...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
IOCs Mull Algeria Safety
...ckenzie. Unconventional Plans Originally scheduled for this year the bid round will now likely be held in 2014. It will not only be a bellwether for conventional resources, but will also test the appetite for the country’s shale gas reserves, estimated to be the world’s third biggest by the US Energy In...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
APICORP Assets Hit $5bn
...cus on growing trade finance activities in the region, In the fourth quarter of this year, APICORP will be conducting an extensive exercise to develop a new five-year strategic plan for 2014-18 that will further support our mandate of raising capital access and enhancing the financial performance of th...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Lebanon Seeks Aid
...5Bn The fallout from Syria’s conflict will cost Lebanon $7.5bn in cumulative economic losses by end-2014 ($1.1bn in 2012, $2.5bn in 2013 and up to $3.9bn in 2014), according to a World Bank report prepared ahead of the planned donors’ meeting on the crisis. “With the escalation of the Syrian co...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Iraq: Bracing For Another Fall
...rget date due to protests earlier this year around the field. Lukoil is keen to recoup the $2.5bn it has already spent on first phase development and is planning to spend a further $2 billion in 2014. A total of 67 wells will be needed to reach 400,000 b/d and the company is still awaiting approval fr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Shaikan Suspension
...ggest discoveries in the region, began on 24 July GK says. Oil sales averaged 5,100 b/d in August with production rising to 12,000 b/d on September 1. Output will rise to 20,000 b/d once a second production well is completed in October, GK says. It plans to ramp up to 40,000 b/d in 2014 from ei...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Gulf Refiners Ramp Up Capacity
...w 400,000 b/d refineries at Yanbu’ and Jazan, Saudi Aramco is maintaining its 2014 and 2016 start-up targets (see table). Gulf Refineries Scheduled For Start-Up 2013-21 (‘000 B/D) Operator (Project) Location Ca...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
OPWP Launches Qurayyat IWP, Al-Ghubrah Finance Closed
...16 September financial close for the 191,000 cmd Al-Ghubrah IWP, which received Muscat’s approval in December (MEES, 26 July). Cadagua says the plant will cost $306mn and is due for completion in 2014. OPWP’s current seven-year plan (2013-19) predicts water demand in its northern op...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Iraq: A Failed State?
...dicate that part of the violence is also due to a power struggle between Prime Minister Nuri al-Maliki’s Da’wa Party, Sadrist militias and Ammar al-Hakim’s Islamic Supreme Council of Iraq, all pro-Iranian groups maneuvering for the 2014 parliamentary elections. The lack of security and the go...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Syria: US-Russia Deal
...apons and filling munitions must also be destroyed by November. There is to be “complete elimination of all chemical weapons material and equipment in the first half of 2014,” the framework says. On the one side, some EU states have called for Mr Asad’s use of sarin gas in an attack on a Da...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Company Profile: Petroceltic Plots Big League Transformation
...off Stevenson, a veteran of Australian firm BHP’s Ohanet project in Algeria, as Project Director in January. Algiers approved Petroceltic’s development plan in late 2012. The next key project event will be the award of the front end engineering and design (FEED) contracts, anticipated in early 2014...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
IMF Awards Cyprus €85Mn After First Bailout Review
...2013 and 4% in 2014, led by domestic demand and a contraction of financial services and the construction sector (see graph 1). The relaxation of payment restrictions has facilitated transactions, but a higher reliance on cash transactions as people avoid the banking system could “create additional di...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Sudan Delays Ending Fuel Subsidies
...moderation and fiscal performance in the first half of 2013 exceeded budget projects, further action is needed.” Once finalized, the subsidy removal should take effect from January 2014, when its new budget is presented. Gasoline Retail Prices ($/liter, 2012) Turkey (hi...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya’s NOC Tries To Look Beyond Continued Chronic Instability
...oduction resume from eastern fields, output could average 500,000 b/d in the fourth quarter, while the longer term forecast is for a production average of 800,000 b/d, assuming that some groups will keep substantial volumes offline, through 2014 and 2015. “In the meantime, the risk of state collapse re...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...abiyah non-associated fields had been expected to come online in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Also starting up in 2014...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Revisits Hydrocarbon Contracts In Effort To Boost Output
...uld cut its current account deficit, and save up to $8.5bn in foreign exchange over the current fiscal year (April 2013-March 2014) by increasing its reliance on Iranian oil, for which it is in theory able to pay entirely in rupees (MEES, 8 September). And while Tehran is yet to give an of...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Abu Dhabi Puts Tacaamol Back On Track With Aromatics FEED
...integrated BTX unit would produce benzene, toluene, paraxylene, orthoxylene and metaxylene, as well as light naphtha and LPG for export. The Tacaamol schedule has slipped from the initially envisaged 2014 start-up. Until recently Chemaweyaat had been looking to start FEED work in late 20...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Oryx GTL: Sasol Cautiously Optimistic
...gher US GTL feasibility study cost.” Sasol plans to debottleneck Oryx by 2014 in a drive to boost capacity by 10%; however, industry sources indicated to MEES that this may slip back to early 2015 (MEES, 16 August). The Oryx plant’s current production capacity is 24,000 b/d of gasoil, 9,...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013