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QPI Makes Second Canada Move With UK’s Centrica
...int oil and gas projects in Canada in 2011. After the latest deal, QPI and Centrica’s interests in the Western Canadian Sedimentary Basin are fully aligned. In a statement, Nasir al-Jaidah, CEO of QPI, said: “We are pleased to have expanded our strategic alliance with our partner Centrica through this ac...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
SABIC Targets ‘Innovation And Ingenuity’
...ale cracker in the US (MEES, 12 April 2013). The report gives 2013 output for only two of SABIC’s business units: fertilizers 6.7mn tons and “metals” (steel production) 5.9mn tons. The most recent data for other units are for 2011 output: chemicals 44mn tons, polymers 11.3mn tons, innovative pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Japanese Crude Oil & Condensate Imports, Q1 2014 (‘000 B/D)
... Mar-14 Feb-14 Jan-14 1Q ‘14 % of total ‘000 B/D % 2013 2012 2011 Middle Ea...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 100.26 100.21 102.02 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Palestine Moves Forward With Onshore Oil Bid Round Amid Difficult Politics
...ile the Meged-5 well initially produced about 800 b/d when it came online in 2011, it averaged just 400 b/d over its first two years. The geology is challenging for a small operator with low technical capabilities like Givot Olam, as the carbonate rock containing the targeted reservoir is poor; co...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Petro Rabigh, Chemanol Restart Offline Units
...rivatives – for an undisclosed period in 2015 for testing and inspection. This will be the plant’s second such shutdown since 2011, although the company says a five-year interval is typical for the industry. Petro Rabigh was hit last year by two utilities outages that necessitated repair and maintenance work on...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Egypt: A Revolution Undone
...EGYPT Egypt: A Revolution Undone This week’s mass death sentences against political opponents have made it obvious that the army has reversed the course set by the 2011 revolution. But the military leadership has inherited the problems that ended Mubarak’s rule, and it is cr...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 99.42 102.02 103.97 102.02 100.48 98.56 97.54 98...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Egypt Pledges To Pay $1bn To International Oil & Gas Firms
...the tumultuous period that followed the toppling of President Mubarak in February 2011, deteriorating state finances and frequent changes to the political leadership meant that the funding of the energy sector was left neglected. By failing to pay up, the government discouraged IOC investment in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Algeria: Politics Unchanged, Oil & Gas ‘Must Do Better’
...cline in recent years; export volumes are being squeezed further by rising domestic demand. Crude production declined from 1.25mn b/d in January 2011 to 1.14mn b/d three years later, according to MEES estimates. And according to latest figures from the International Gas Union – of which Algeria is a me...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iranian Oil Exports Take Nosedive In Sign Of Things To Come
...cific duo of Japan and South Korea, which each cut their purchases by more than 70% versus relatively high February levels. Both countries have cut imports sharply since sanctions tightened in mid-2012: Japan’s 2013 imports were 143,000 b/d down on 2011 and Korea’s 98,000 b/d. South Korea imported 71...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...cense to December 2014 (sic) “is pending formal ratification.” BG Tunisia Output (Net) 2010 2011 2012 2013 Oil (‘00...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Tankers Merger Gets Green Light
...hri’s 107 VLCC voyages in 2011 were 45% Middle East Gulf to East Asia, 30% Middle East Gulf to the US, and 25% West Africa to East Asia. “This means Bahri will have a large portion of spare VLCC capacity to deploy on the Middle East-Europe and US routes, once it completes the purchase,” said Audi Capital....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...s upstream section and may not start production until 2016. Saudi Peak* Direct Crude Burning (‘000 B/D) Saudi Oil Use For Power Generation (‘000 B/D) 2009 2010 2011 20...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Syria: Between A Rock And A Hard Place
...test the waters, and could resort to larger shipments in future. Syria’s revolution started in March 2011 with mainly peaceful demonstrations. Army deserters established the moderate Free Syrian Army, a grouping of militias that remains splintered. Islamist militias followed. Both the Free Sy...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 101.94 103.97 102.75 100.48 100.68 98.56 97.54 98...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Data Analysis: Oil Exports Hit 11-Year High To Top 8.5mn B/D In February After Satorp Start-Up
...SAUDI ARABIA Feb-14 Jan-14 J-F ‘14 vs J-F’13 Dec-13 Nov-13 2013 vs ‘12 2012 2011 2010 2009 Crude Production (Official) 9,850 9,...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Targeting Crude Output Hike Alongside Upstream Opening
...ude output averaged 2.82mn b/d over the first quarter of the year, down close to 800,000 b/d on 2011’s pre-sanctions output. Exports are also much depressed, averaging just 1.1mn b/d in 2013, from around 1.5mn b/d as recently as 2011, according to MEES estimates. But with a potential opening on th...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Oil Exports Resume In Eastern Libya
...Cs are less concerned about their ability to revive production should the export routes open up. While in 2011 fields were hastily shut down by workers escaping the fighting, last year pumps were shut in properly, and facilities have been maintained since. “The fields should come back fast, they al...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Suez Revenue Steady
...2013. For gross tonnage (including vessel weight), the 2013 figure of 915mn t is just down on 2011’s record 929mn t. The average size of vessels using the canal is rising. Despite record cargo and revenues holding steady, the total number of ships using the canal has fallen in each of the last fi...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014