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BP Reveals Fourth Pipeline Option For Shah Deniz 2 Gas
...offering a 55% stake to an international investor, will be completed within October 2011. In related news, Socar President Rovnag Abdullayev once again pressed Ankara to conclude their bilateral gas transit talks, saying that he hoped for the “successful completion of negotiations with Turkey, wh...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Libyan Rebels Eye Formation Of Interim Cabinet
...tities frozen as of 16 September 2011 remain frozen, but they are no longer subject to prohibitions and can therefore conduct new transactions. Resolution 2009 (2011) directs the UN Sanctions Committee, in consultation with the Libyan authorities, to review continuously the remaining sanctions for the CB...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Turkey Reacts As Noble Starts Drilling Offshore Cyprus
...art of drilling has no connection with the long running talks between the two sides. It instead marks the next phase of the Cyprus/Noble PSA, which stipulated that a well be drilled by October 2011. The latest phase of the contract was signed in Nicosia prior to the start of drilling. In New York Mr...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Bankers Shrug Off Downturn To Finance Qatar’s $10Bn Barzan Gas/NGL Project
...w pricing Saudi’s Satorp secured last year. Barzan will boost the country’s already climbing NGL output – which will include 500,000 b/d of condensate and 10.7mn tons/year of LPG by the end of 2011. It will start up in 2014 and ramp up to 100,000 b/d of condensate. The $7.2bn debt financing fo...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
KRG Crude Exports Interrupted As Irbil/Baghdad Tensions Rise
...provide 100,000 b/d to the federal treasury – a contribution needed for the 2011 budget. In return, the KRG would receive around half the revenues to pay oil investors their costs. KRG crude exports rose sharply, hitting 175,000 b/d in June before declining in both July and August (MEES, 12 Se...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Gulf Condensate And Naphtha Exports To Increase
...ndensate and naphtha exports – despite Iran’s gas projects almost grinding to a halt – according to a report by Asia Pacific Energy Consulting (APEC). APEC’s report, Condensate East of Suez 2011 – NGL Impacts on the Light-End Balances, also says Gulf condensate prices are increasingly being de...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Iraqi Hydrocarbon Tensions Ratchet Up
...ditional statement that high oil prices had enabled exports in the first seven months of the year to cover the entire 2011 budget needs, “which indicates that Iraq can achieve a high surplus.” Nevertheless any fall in oil price or let-up in the current intense rates of southern loadings could well br...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kuwait Increases LNG Imports And Fuel Oil Exports
...the first eight months of 2011 compared to the same period last year, and looks set to continue imports into November – a month beyond its contracts with Shell and Vitol to provide cargoes until October. A KPC source says Kuwait’s Committee to study building permanent LNG import facilities ha...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
BP Eyes Expansion Of 1Bn CFD Oman Gas Project
...ird quarter 2011, due to a delay in starting up the EWT and the need to await results from a second horizontal well. BP will submit the field development plan to the government by the end of the first quarter 2012. It will then go to tender for engineering procurement and construction (EPC) co...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
LNG Market Over-Reacts To Qatari Plant Closures
...op in European demand. Mr Bros says: “There is loads of Russian gas – each month in 2011 it exported more to Europe than in the same month last year.” Gas demand is down in Europe – in the first seven months it was down 9% on the year before. “I think it will be down 6% this year by year-end co...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Rebels Sweep To Power As New Era Dawns For Libya
...mpaign, more needs to be done to stimulate exploration interest. Foreign Oil Investors In Libya On Eve Of 2011 Civil War Company Basin Field/Area Blocks Partners /stake Start date Estimated Crude Production Ca...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
EU Sanctions On Syrian Petroleum Sector More Painful Than Those Of The US
...rt some European companies with production sharing interests in Syria. Syrian oil production in the first half of 2011 averaged 387,250 b/d according to official statistics (MEES, 8 August). Of this about 154,000 b/d were exported in the first half of 2011, mainly to European countries (Germany, Fr...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
New Megabank Targets Gaps In Islamic Banking Sector
...of Istikhlaf, which was also to have been established in 2009. “In 2009 we were hit by the crisis and then 2010 looked a good time to set it up, but then countries like Greece started having problems. Then in 2011 Arab countries had their issues, but now it’s stabilizing,” said Mr Yousif. Is...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Electricity Price Freeze Hinders Dubai’s Energy Plan
...e amount of carbon dioxide of US citizens. DEWA has said it expects Dubai’s energy demand to rise 6-7% in 2011 over last year. Consultant Sought To get a grip on Dubai’s energy usage Mr Tayir said: “In line with the strategy of Dubai’s Supreme Council of Energy regarding energy demand ma...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Kurdish Upstream Sector Hots Up
...-Jul-11 4,800 b/d† Bought into Komet block July 11 Aspect Energy Atrush Marathon, ShaMaran 12-Nov-07 discovery 2011. Ar...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Shell Offers LNG To Bahrain At Near Oil Price Parity
...anned regasification plant and import terminal. NOGA was also expected to take the FID for Sitra refinery at the end of 2011, but this may be delayed to the first quarter of 2012 so it can be taken at the same time as the LNG project’s FID – and those for the industrial projects would follow. Si...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Kuwait Approves Record Budget For 2011-12
...Middle East Economic Survey VOL. LIV No 33 15-Aug-2011 Kuwait Approves Record Budget For 2011-12 The Kuwaiti parliament on 29 June approved a record budget for fiscal 2011-12 and after reaping successive surpluses the government is well placed to fund its growing expenditure. Ho...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Oil Producers See Budgets Pressured By Social Unrest, Crude Dip
...pacting crude demand outlook and adding to the concerns. At the beginning of this year, the climb in oil prices allowed many MENA countries to post a budget surplus for 2010 and encouraged them to hike the price forecast they would use in their 2011 budgets (MEES, 17 January). Of the 18 countries su...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Kuwait Ministry Probe Into Shell Deal Secures Passage Of Record Budget
...scal year 2011-12, which started last April, was passed at the end of June. It includes an increase of 19% in spending from last year. Oil revenue for 2011-12 is set at KD12.31bn ($44.93bn) up from KD8.62bn ($31.57bn) in 2010-11. Its passage triggered demands by some members of parliament to look in...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
FDI Flows Drop Despite Economic Recovery, Says UNCTAD
...ile global industrial output and world trade are already back to their pre-crisis levels, according to the United Nations Conference on Trade and Development (UNCTAD). In its World Investment Report 2011, UNCTAD estimates that global FDI will recover to its pre-crisis level in 2011, increasing to $1....
Volume: 54Issue: 32Published at Mon, 08 Aug 2011