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Egypt Eyes 2016 Start For 650MW Suez Plant
...w of 4.6bn cfd in July 2014 (see graph, MEES, 26 September). EEHC estimates Egypt’s electricity generating capacity at 30.8GW. Besides the Suez project, new capacity is also coming from the 1.95GW South Helwan thermal plant, under construction for startup in 2018. This will require 420mn cfd of ga...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Saudi Arabia Sees $90/B Oil As Price Floor
...oser to the organization’s forecasted ‘call on OPEC,’ which it recently revised down to 29.45mn b/d for 2014 and 29.2mn b/d for 2015 (MEES, 12 September). These forecasts are both down 160,000 b/d from those made by OPEC a month earlier. The more telling number is the expected quarterly decline in de...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Airstrikes Hit Syria’s Murky Wartime Oil And Gas Sector
...oduction levels are difficult to verify as they are based on hearsay and speculation, extrapolation of limited data and best-guesses. Mr Asad’s government most recently said that regime-controlled areas produced 17,000 b/d in the first half of 2014, just 4.4% of 385,000 b/d prewar output. Meanwhile, IS re...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Keystone Bullish At Shaikan
...talling 4mn barrels of Shaikan crude has been sold to the international market since January 2014. Approximately 30% of Shaikan output is sold on the domestic market, which is providing steady revenues, it adds. GKP, which has not yet been paid for its international exports, is still negotiating with the KR...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Kuwait Boosts Surplus Despite Falling Revenue
...KUWAIT Kuwait increased its budget surplus by 6% to almost KD5bn (KD4.96bn, $17.6bn) for the financial year ending March 2014. This came despite lower oil prices, and thus oil revenue, as the country slashed spending by over 2% to KD18.9bn ($67.1bn). Oil revenues fell by 2.3% to KD...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Is Iran’s Economy Turning The Corner?
...rst quarter of the current fiscal year (starting on 21 March 2014), compared to the same three-month period a year earlier, CBI preliminary figures show. The growth came after two years of stagflation with GDP which contracting by 4.1% over the year to March 2013. President Hassan Rohani, while in Ne...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
$1.1B Jordan, Lebanon Cash
...JORDAN/LEBANON Jordan is to receive a total of $633mn in four grants from USAID. The largest grant, worth $436mn, will support prioritized development projects listed under the state budget law for 2014. The remaining three grants will be used “to improve basic services, boost economic de...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
OPEC In The Future: Will It Continue To Play A Pivotal Role?
...nning out of steam. The US Energy Information Administration (EIA) for instance anticipates in its new International Energy Outlook (IEO, September 2014) that, in a Reference case where oil prices rise moderately, OPEC’s market share would increase from a low of 39% in 2020 to a little more than 42% in 20...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Benchmark Crude Prices ($/B)
...OIL PRICES 2-Oct 22 - 26 Sep 15 - 19 Sep Sep-14 Aug-14 Q3 2014 Q2 2014 2013 20...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Libya’s Fragile Oil Recovery Continues
...ort of budgeted expectations. Revenues for the first eight months of 2014 were a mere $11bn, only 22.7% of the budgeted figure for the whole of 2014. Libya Refinery Runs (Mn B/D) Libya: Key Oil And Gas Infrastructure...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Fresh Fighting Threatens Remaining South Sudan Oil Output
...pears to be their second major assault on the Palogue and the Upper Nile fields since early 2014. SPLA-IO forces made their first push to capture Palogue in March, but were forced to retreat after suffering a series of setbacks elsewhere in the state. Palogue and a number of nearby fields in Upper Ni...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Key Project Shelved As Qatar Shifts Petchems Strategy
...10 Q-Chem II HDPE 350 2010 Linear a-Olefins 345 Total 2014 15...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
UAE Faces Power Capacity Shortfall, Targets Improved Efficiency
...stall seven power plants with total combined capacity of 9.47GW by 2021, a 33% increase on current installed capacity of 28.9GW (see table). However demand growth is set to outstrip this with current trends indicating consumption will rise 50% between 2014 and 2021 to hit 171TWh by the latter date. By...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Kuwait Seeks IOC Help To Hit Production Targets
...rgets (Mn B/D) 2014 2020 Investment ($bn) Burgan 1.7 1.7 5 West Kuwait 0.5 0....
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Libya: Slashed Oil Exports Leave $16Bn Budget Hole
...asons for this deficit. However the reasons aren’t hard to figure out. The country has been wracked by political instability bordering on civil war for most of the year so far. Oil output for the first eight months of 2014 averaged only 320,000 b/d, and whilst volumes have increased in recent weeks th...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
IMF Calls For Hike In Saudi Energy Prices
...atistics. Crude Volumes Down, Prices Down Too Saudi crude oil exports fell by 2.4%, or 175,000 b/d, to 7.252mn b/d in the first seven months of 2014 from 7.427mn b/d in the corresponding period of 2013. Given that average prices for Saudi crude have also fallen moderately over the same period crude ex...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Benchmark Crude Prices
...Benchmark Crude Prices 25-Sep 15 - 19 Sep 8 - 12 Sep Aug-14 Jul-14 Q2 2014 Q1 2014 20...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Egypt Steps Up Block Awards
...low domestic demand. The fall in gas output and the rise in domestic demand have forced the government to put an end to exports, and enter into negotiations over LNG imports. Mr ’Abd al-Badi’ says he expects 10 new projects to come online in the 2014-15 fiscal year, with investments totaling ab...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Algeria Fertilizers Capacity Rising After Sonatrach Signs New Gas Deals
...dernourished, but there are signs of green shoots. For a start, state petroleum regulator Alnaft is offering 31 blocks to encourage oil and gas exploration – although potential bidders are challenging the terms (MEES, 22 August). Sorfert Ramp-Up In its first half 2014 results Orascom says that “ramping up...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
KNPC Extends Al-Zour Bidding
...tairi says the tender deadlines have been extended until November 2014 and January 2015. “We are targeting April 2015 to sign the contracts for Al-Zour,” Mr Mutairi tells Reuters. This would represent little slippage, as the company earlier said it would award engineering, procurement and construction co...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014