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Iran, Indonesia Team Up For $3Bn Refinery Project
...0,000 b/d of this refining capacity. But these seven facilities only meet around three quarters of Indonesia’s domestic demand, forcing it to import close to 300,000 b/d of petroleum products in 2013. In 2011, Pertamina was able to meet only 54% of the domestic demand for gasoline, and 86% of diesel de...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Enigmas Of The Islamic State Of Iraq And The Levant
...inly an Iraqi group until its entry into the Syrian conflict. While ISIL was established following the 2003 US occupation of Iraq, it was able to spread quickly and forcefully within the Iraqi Sunni community, spreading its influence in eight provinces, including Baghdad. The 2011 Arab Spring has pr...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Kuwait Energy Has Breakout Year, Complicated Future
...ake gives it 10,500 b/d on a working interest basis, Chilean firm ENAP is operator with 50.5%). Output was close to 18,000 b/d for 2013 as a whole, more than twice 2011 levels. East Ras Qattara production peaked after the second production well came online in 3Q13, falling by about 4.4% between th...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Egypt: New UAE-Fueled Stimulus Package
...d to $3bn. Regional Aid To Egypt Since 2011 ($Bn) Mursi Rule (2012-13) 12.75 Qatar 6 Saudi Arabia 3.75 Li...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
GCC Single Market Failure: Problems And Solutions
...C General Secretariat statistics point to some success in the GCC single market project. In 2011: 13mn GCC citizens traveled within the GCC; 41,000 GCC citizens worked in another GCC country; 16,000 GCC citizens owned real estate in another GCC country; 35,000 licenses for economic activity we...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
South Korean LNG Imports By Country Of Origin 2011-2013
...South Korean LNG Imports By Country Of Origin 2011-2013 2013 2013 vs 20...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 100.35 97.74 97.24 94.81 97.91 97.54 105.73 98...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Saudi Arabia Advances Carbon Capture Project
...en reluctant to tamper with the energy subsidy and raise prices to both industrial and private consumers, even as it has in the past two years increased spending on infrastructure and social programs, in part as insurance from the ‘plague’ of the Arab revolution that started in 2011. Imf: Sa...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Iran: French Avant-Garde Leads IOC Rush To Return
...timates, stood at around 2.75mn b/d last month, down by more than 800,000 b/d on its 2011 average of 3.59mn b/d. Crude exports averaged just over 1.1mn b/d in 2013, representing a 54% drop in shipments relative to 2011. But with the apparent thawing of relations between Iran and the West since Pr...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Egypt Heads For Gas Deficit
...nce the Arab Spring in 2011, allowing for a simmering energy crisis to come to a boil. With three governments in just over three years, a lack of continuity in and concentration on energy policy has failed to address gas price reform and ensure payment to producers – leaving investment far below the le...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Iraq Hires Big Law Firm To Thwart KRG Export Plans
...transport 1.1mn b/d but – even when things have been running smoothly – it has only been operated at around a third of capacity in recent months. For January a mere 190,000 b/d of Iraqi crude was shipped via the Kirkuk-Ceyhan pipeline, down 50,000 b/d on December and down 250,000 b/d on 2011 vo...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
New Kuwait Inquiry Targets GDF Suez, Sumitomo Deal
...osecutor, where the case has sat unresolved since 2011. Yet the man who led the charge against the Shell deal, ‘Ali Salih al-‘Umair, was recently appointed Minister of Oil. The al-Zour IWPP is not alone in the latest round of parliamentary scrutiny: also targeted is a $4.4bn deal to purchase 25 new Ai...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Dana Gas Sees Production But Also Receivables Rise in 2013
...bitration. Dana Gas reported an 8% increase in overall production across its KRG and Egypt asset base, reaching 64,700 barrels of oil equivalent per day (boe/d) in 2013, compared with 2012 levels of 59,800 boe/d. Production in 2013 was still 2.3% lower than the firm’s 2011 net production level. While KRG pr...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
IMF Approves $507Mn Credit To Tunisia
...ternal buffers and foster higher inclusive growth, following the economic difficulties and series of external shocks arising after the 2011 revolution. Protracted Transition Commenting on the release of the second tranche, the IMF’s Deputy Managing Director, Nemat Shafik said that “Tunisia is go...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Jordan’s Budget Challenges: Energy And Refugees
...s large deficit, and indicated that it was looking for alternative sources of energy to lower the public debt arising from high energy costs. Prior to the Egyptian revolution of 2011, Jordan generated around 80% of its electricity from Egyptian gas imported at preferential prices. Supplies have si...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
US Shale Gas: A New Option For Japanese LNG Supply
...INTERNATIONAL US Shale Gas: A New Option For Japanese LNG Supply By-James Jensen Japan has increasingly been forced, since the 2009 recession, to face severe challenges to its energy and environmental policies. The March 2011 Fukushima disaster placed the fu...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Benchmark Crude Prices ($/B)
...13 2012 2011 WTI 97.84 97.24 95.91 94.81 97.91 97.54 105.73 98...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Exxon Shrugs Off West Qurna-1 Cut
...Cs’ unattractive terms, which do not allow IOCs to book reserves, led ExxonMobil to ignore Baghdad’s threats of expulsion and sign production-sharing contracts for six KRG exploration blocks in 2011. ExxonMobil has managed to retain its WQ-1 operatorship, having reduced its stake from 60% to 25%, wh...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Iraq, KRG Narrow Differences In Oil Row But Final Accord Elusive
...ditional $2bn to the KRG, rather less than the $9bn that Erbil says is owed by Baghdad for oil sales between 2011 and 2013, when the KRG halted exports of some 150,000 b/d because of the row over non-payment to foreign contractors. But he reiterated the Iraqi government’s position that no oil could be ex...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...nce mid-2012 been required to dramatically reduce its imports of Iranian crude oil so as to stay in line with US sanctions placed on Iran’s key oil and banking sectors. Washington in late 2011 passed a law cutting off access to the US financial system for entities involved in oil trade with Iran and it...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014