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Qatar Nears Full GTL Output, Eyes Competitors’ Projects
...ntribution” to growth. The plant sold its first product shipment in June 2011. South Africa’s petrochemical producer Sasol has also boosted output and plans a further increase at its 32,400 b/d Oryx project, Qatar’s other GTL plant – QP (51%) and Sasol (49%). It may have finally reached full stable ou...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
OPEC’s MENA Refiners Holding Steady Ahead Of Capacity Surge
...fects of frequent disruptions through workers’ protests and militia operations. Meanwhile, Algeria’s recent data has been impacted by major upgrades at Skikda refinery (MEES, 19 July).OPEC said that total refining capacity of member countries fell by 1.4% in 2012 compared with 2011. The organization he...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
Morocco Awards 2 Power Projects, Lines Up Solar Bidders
...gher than on the same day last year; and 5.7% above than last year’s peak demand recorded on 17 July 2012. Morocco Electricity 2011 (Gwh) Sales 25,634.00 Net demand 28,751.90 Pr...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
OPEC sees Tight Markets As Libyan Volumes Slump, Iraq Disappoints
...st month while the US light sweet crude oil benchmark soared, ending July over 9% higher, the largest month-on-month percentage gain since November 2011. OPEC’s Reference Basket (ORB) in July jumped to $104.45/B, up by $3.42/B over June, the highest month-on-month gain since February, the MOMR sa...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
Deconstructing The Syrian Banking System
...nk of Syria website.** Downloaded from UK Government website, updated to 5 June 2013*** In 2011, Banque Saudi Fransi announced its intention to sell its stake but at the end of 2012, no sale had taken place. Banque Saudi Fransi is 31% owned by Credit Agricole. Syrian Banks’ Exposure To Key Fo...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
Benchmark Crude Prices
...12 2011 WTI 107.33 105.12 105.5 104.47 95.79 94.17 94.42 94.18 95...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
Protests Suffocate Libyan Oil Production
...tput stood at around 750,000 b/d, the first sub-1mn b/d monthly average since December 2011. There is no sign of any resolution to the crisis. State-owned NOC is yet to declare Force Majeure, but notes one trader: “Before NOC was saying, it would take a week to sort out, now it is clear they ha...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Lukoil Looks At Kirkuk Development
...0,000 b/d, it fell to 300,000 b/d by May 2011, and now is thought to have dipped below 250,000 b/d. The falls alerted state-owned NOC of the necessity to bring in outside expertise. Service firms Schlumberger and Baker Hughes were contacted in mid-2011 and exploratory talks with BP began in the be...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Rohani Champions Diplomacy Despite Ongoing Sanctions Threat
...60,000 b/d through December 2013. State-owned IOC, India’s third largest customer of Iranian crude, has slashed the volume of crude oil it plans to purchase from Iran in the upcoming fiscal year by almost one quarter. This move is in line with US legislation passed in December 2011 cu...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
UAE Firms Dana Gas, Dragon Oil and TAQA Face 1H13 Woes
...oducing areas of Egypt and the Kurdistan Regional Government (KRG) area of northern Iraq. Dana: Production Up, But Receivables Up More Dana production has edged up in both Egypt and the KRG since a post-Revolution payments crunch saw Egyptian output slide in the second half of 2011 and first ha...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Syria Bans Transactions In Foreign Currency
...ohibits the pricing of commodities or services in currencies other than the local currency, which has lost more than half its value on the official market since the beginning of the uprising in March 2011. Commenting on the decree, the Governor of the Central Bank of Syria (CBS) Adib Mayyala sa...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Gulf Aid Boosts Egypt’s Reserves To $19Bn
... EGYPT Gulf Aid Boosts Egypt’s Reserves To $19Bn Egypt’s foreign exchange reserves soared to $18.9bn at the end of July from $14.9bn at the end of June, the Central Bank of Egypt (CBE) announced on 5 August. The latest figure is the highest since November 2011, an...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Yemen’s 2012 GDP Rises But Challenges Remain, Says IMF
... YEMEN Yemen’s 2012 GDP Rises But Challenges Remain, Says IMF After contracting by more than 12% in 2011 due to the political upheaval in the country, Yemen’s real GDP growth is estimated to have risen by 2.4% in 2012, reflecting an easing of supply bottlenecks and ut...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Oman Budget Heading For Surplus Despite Temporary Deficit
...rm outlook remains positive with robust non-oil growth and moderate inflation, fiscal and external balances are projected to turn to deficit. It added that recent spending initiatives, including government job creation in 2011-13 have increased expenditure by 70% over the period 2010-12 and “reduced th...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Oman Reviews Fuel Subsidies
...12). Any savings from subsidy cuts will be used by the government for other purposes, including youth training or investment projects that could generate new employment, the minister said. The Omani government has already boosted spending on welfare and job creating initiatives in 2011 in an attempt to qu...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Iraq’s National Energy Strategy: Oil And Gas Output, Diversification and Employment
...quired investment in the energy sector for 2013-30 at $530bn (in 2011 dollars), although this is not tied to any specific scenario. IEA-Iraq cites exactly the same amount for 2013-35, but ties it to its central scenario. World Oil Prices Neither INES nor IEA-Iraq analyses the impact of fu...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Benchmark Crude Prices
...12 2011 WTI 103.4 105.5 105.95 104.47 95.79 94.17 94.42 94.18 95...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Germany’s RWE Faces Challenging Sale Of North African Assets
...rprisingly Libya’s 2011 civil war set back RWE’s plans: RWE had been exploring the two blocks since 2003 (spending $500m in the process) and development plans were already drawn up pre-revolution. The country’s continued instability will no doubt deter at least some potential purchasers. Exploration in Libya ha...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Twilight Looms For OPEC’s Golden Age
...ars on the trot! Gas has also emerged as an increasing revenue driver, enabling Qatar in 2011-12 to post OPEC’s strongest earnings gains (see table 1). Table 1: OPEC Members’ Petroleum Exports By Value ($Bn) 2005 20...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
GCC: UAE And Saudi ‘Readiest’ For Renewables
...ssil fuels and subsidized energy prices present “prominent barriers to investment in renewable energy projects,” the organization’s ‘Renewable Energy Readiness Assessment Report: The GCC Countries 2011-12’, published on 22 July says. The UAE gets the highest score of 4.75 out of 7, while Sa...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013