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Morocco Awards 2 Power Projects, Lines Up Solar Bidders
...cond in April 2014. TAQA recently secured $1.4bn in finance for the project (MEES, 8 February). Solar Prequalification The Moroccan Agency for Solar Energy (Masen) meanwhile announced it had prequalified a number of consortia to build the Noor-2 and Noor-3 concentrated solar power (CSP) pl...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
OPEC sees Tight Markets As Libyan Volumes Slump, Iraq Disappoints
...r world oil demand growth of 1.04mn b/d in 2014 were unchanged though MOMR adjusted the numbers in absolute terms to account for minor revisions in 2012 and 2013. Global oil demand for 2014 was estimated at 90.75mn b/d, up from the 90.68mn b/d projected in the previous MOMR. The MO...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
KRG Drilling Surges As Turkey Partners With ExxonMobil
...mestic sales. On the oil front, Genel was on course to boost Taq Taq capacity from around 140,000 b/d to 200,000 b/d by end 2014. Extended well tests at Miran and Bina Bawi of 3,000 b/d and 1,000 b/d respectively should lead to larger oil developments of 50,000 b/d each by end-2015. KRG oil ex...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Golar LNG To Supply FSRU Units To Jordan, Kuwait
...th Excelerate Energy, set to expire this year. Golar will send its 170,000 cubic meter Golar Igloo to Mina al-Ahmadi port and hydrocarbons hub in 4Q13 with operations to begin in March 2014. Kuwaiti state firm KNPC will use the FSRU to import LNG nine months per year but will allow Golar a three mo...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Algeria: Key Oilfields Hit By ‘Temporary’ Production Restrictions
...rk will likely last at least into 2014, according to Talisman’s regional Executive VP Paul Blakeley. Both were speaking on a 31 July conference call to mark the firm’s second quarter results. Restrictions also currently affect the 24,000 b/d Menzel Ledjmet North (MLN) field which lies wholly on Block 40...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Saudi Petchem Firms Target Specialized Markets
...bail 2014 50,000 t/y nylon 66 SABIC Jubail 2014 140,000 t/y ABS SABIC/Mitsubishi Rayon Jubail 2014 25...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Occidental: Uncertainty Continues Over Middle East Assets
...s really just been exposed to this in detail at one meeting, and so it will take a little while and we want to consult fully with them and weigh all the alternatives for them. But clearly some things are going ahead quickly.” He added he hopes to achieve this before he steps down as CEO in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Germany’s RWE Faces Challenging Sale Of North African Assets
...oject – slated for 2014 start-up when sanctioned in 2010 – the key focus for 2012 was taken up with trying to find a new location for the onshore gas treatment plant. It now looks likely that the plant will be located 30km to the east from the originally-planned site at Idku [next to the BG-operated Eg...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Egypt’s New Budget Targets 14.5% Deficit Cut
...r a return to democracy by early 2014; and the recent containment of the government’s debt-financing costs, below post-revolution peaks. Moody’s added that the maintenance of the negative outlook on Egypt’s Caa1 rating is driven by Moody’s view of the country’s considerable economic and political ch...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Twilight Looms For OPEC’s Golden Age
...ploration – would appear to support OPEC’s argument as far as non-conventional oil development outside North America is concerned. But in the US supply is surging on the back of shale oil and gas development. The OECD’s IEA energy watchdog projects non-OPEC supply rising 1.2mn b/d this year and 1.3mn b/d in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Will OPEC Or The US Be The World’s Marginal Crude Supplier?
...oduction over the next several years is substantial, rising by an average of 1.2mn b/d over the period 2014-18. The spoiler is demand growth. With the OECD showing signs of long term decline, and non-OECD demand relying heavily on uncertain Chinese growth, even if demand gets a lift from lower oi...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Wintershall Set To Explore Shuweihat As IOCs Help Abu Dhabi Boost Gas Production
...til 2015 (MEES, 1 March). ADNOC insists that the project is on track for start-up in 2014....
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
US Mulls Further Tightening Of Iran Sanctions Screw
...e calling for restraint until the new administration signals its intentions on Iran’s disputed nuclear program. This latest legislation passing through the US House of Representatives and Senate would effectively blacklist the country’s mining and construction sectors – effective January 2014...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Abu Dhabi: Onshore Pumps 1.5Mn B/D, Investing $40Bn
...y through a five-year, $40bn plan to lift hydrocarbons output, including oil, gas, petrochemical and refining plants, said Muhammad al-Suwaidi, head of the ADNOC gas directorate. ADNOC hopes to complete a 417,000 b/d, $9.6bn new refinery at Ruwais in 2014, and gas developments account fo...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Aramco Rigs To Hit 200 By End-14, But Drilling Delayed
...rther. Aramco will use 170 rigs by end of this year or early 2014, Paal Kibsgaard, CEO of services giant Schlumberger told a 19 July investors’ conference call to mark the firm’s 2Q13 results. Schlumberger and Saudi independent consultant Husseini Energy have upgraded Aramco’s need from respective es...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Bahrain LNG Import Plans
...commendations, by the end of 2013 and to award the contract in early 2014. This comes after reports earlier this year that Nogaholding, NOGA’s investment arm, was set to award a license to build a $500mn-plus 500mn cfd LNG import terminal. NOGA was negotiating a Build-Own-Operate LNG import terminal an...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Sipchem-Hanwha EVA/Molds JV
...ternational Diol Company (IDC) affiliate’s 75,000 t/y butanediol plant in Jubail. Work is expected to improve the plant’s efficiency and reliability and is scheduled for completion in the fourth quarter of 2014. On 17 July Sipchem announced its 2Q13 financial results, with increased profits being at...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
OPWP Sets Out Development Priorities, Reports 2012 Progress
...ceived approval to proceed with the 42mn gal/day (190,000 cmd) Al Ghubrah IWP, with a view to commercial operation in October 2014. Meanwhile, OPWP engaged US consulting firm NERA to help develop a strategic plan for the future expiry of power and water purchase agreements. The first of OPWP’s existing co...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Jordan Bags $500mn Aid
...ported that the US government is to increase its annual economic assistance to Jordan by $340mn as of 2014, raising total US financial aid to the kingdom to $1bn/year. Jordan currently receives $360mn in financial aid and $300mn in military aid. Petra added that the US Congress is expected to ap...
Volume: 56Issue: 30Published at Fri, 26 Jul 2013 -
Oryx Aims For 200KBD
...anned appraisal wells, scheduled for late 2013-early 2014, could add to this and the firm has identified three further prospects. Drilling has begun on two of these: the AAS-1 well on the Ain al-Safra prospect spudded on 10 June and the Zeg-1 well spudded in late April. Oryx, which recently listed in To...
Volume: 56Issue: 29Published at Fri, 19 Jul 2013