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Morocco’s ONEE Announces 2013-17 Electricity Plan
...ovision of $100mn to Morocco to support the building of further solar and wind plants in a number of remote areas. ONEE had more than 4.7mn customers at the end of 2012, an increase of 7.4% compared with end-2011. Morocco’s electricity demand was 31.06TWh in 2012, up 8% on 2011. Demand growth av...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Libya: No Light At The End Of The Tunnel
...fore the 2011 revolution was 1.6mn b/d. In an interview with the Beirut-daily al-Hayat, Mr Tariq Mitri, the UN Secretary- General’s Special Representative in Libya, noted that the government has so far failed to disarm the public and rebuild the army and police forces and that it has th...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Iranian Economy Shrinks By 5.4%
...around $70bn in 2012 from at $95bn in 2011 due to the effect of sanctions. Major economic reforms are needed in four sectors of the economy according to Mr Rohani’s economic advisor Masoud Nili. These are the foreign currency market, cash subsidy payments (to offset price increases), the pr...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Tunisia: Slow Growth
...ocks following the 2011 revolution. According to the IMF, real GDP fell by 2% in 2011, foreign direct investment declined by more than 30% year-on-year, and unemployment rose to a record 19%. Tunisia, the country which pioneered the ‘Arab Spring’, is today witnessing the problems associated with po...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Damage To Syrian Economy Tops $20Bn – Officials
...March 2011 to around $4-5bn at present. A report on the CBS website this week showed that forex reserves fell by just over a third at the end of 2011. The Syrian economy is only being kept (just about) afloat by the inflow of around $9bn in annual aid from Iran including regular fuel sh...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
The US Shale Revolution, Part 3: Overcoming The Obstacles
...timate arbiter on profitability, the market, offers no help. Shale gas drilling has been stagnating from February 2011 (the earliest available data point) to October of 2011. From that point on, it has been declining at a practically unbroken 2-year stretch to early August 2013, from about 930 to 390 ri...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Benchmark Crude Prices
...12 2011 WTI 103.31 103.06 106.24 106.27 106.55 105.73 94.17 94.18 95...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Obstacles For Qatari Crude Boost As QNB Sees 800,000 B/D By 2017
...oduce 889,000 b/d by the end of 2011, with production capacity reaching 1mn b/d. This was a downward revision from QNB’s position in 2009, when it said production would reach about 1.06mn b/d by the end of 2010. In 2004, when Qatar produced 755,000 b/d, QNB foresaw the country’s capacity in...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
IOCs Hold Steady Despite Yemen’s Political Crisis
...wn of the key 450MW gas-fired power station supplying large parts of Yemen’s Western districts, officials said, and came less than 24 hours after a similar attack on another part of the grid. Such attacks have become commonplace in Yemen, more so since the political crisis of 2011 which br...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Petro Rabigh Cracker: Limited Restart
...488.9mn ($130.4mn) for 2012 and SR65.9mn ($17.6mn) for 2011, when a “plant shutdown was experienced due to periodical test and inspection.” In related news, Petrochem reported to the Tadawul exchange on 24 September that its polymer plant was forced to shut down for 10-12 days due to a fault wi...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
MENA Generators Pushing Non-Conventional Power Projects
...its electricity from oil shale by the end of the decade (MEES, 28 November 2011). Jordan’s Petra-JNA news agency also said that the government has signed an MOU that day with China for the construction and operation of a 300MW wind farm by China’s CWE and Goldwind, without giving further details. Th...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Egypt Receives Gulf Aid But Qatar Backs Off
...fered Egypt following the 3 July coup (see table). Regional Aid To Egypt Since 2011 Revolution ($Bn)* Mursi Rule (2012-13) 12.75 Qatar 6** Saudi Ar...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
The US Shale Revolution In Numbers
...blication of the 2011 proved US reserve data and the latest production data (May 2013) by the US government’s Energy Information Administration (EIA) seems to reinforce initial excitement among industry representatives and investors. Oil reserves rose by 1.6bn barrels in 2009, and by another 2.6bn in 2010. In...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Benchmark Crude Prices
...12 2011 WTI 106.39 106.24 108.26 106.55 104.47 94.17 94.42 94.18 95...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Kuwait’s Oil & Gas Transformation: Is Strong Leadership Enough?
...ell. Dampening hopes of attracting IOCs is a Kuwaiti public prosecutor investigation into Shell’s $800mn consultancy deal with KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011). Burgan Progress Kuwait continues to make good progress in extending the plateau of its Gr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya: Light At End Of Tunnel As Losses Hit $7.5bn
...nghazi, headquarters of Agoco, NOC’s biggest subsidiary. Agoco operates eight eastern fields and the export terminals of Hariga near Tobruk. The NOC chairman played down fears that the shut-ins could have had a similar effect on the production infrastructure as outages during the 2011 re...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Turkey Turns To Iraq To Replace Iranian Barrels
...der 105,000 b/d for May-July. Turkish crude imports from Iran averaged 112,000 b/d in the first seven months of the year, down around 25% and 40% on 2012 and 2011 figures respectively. Waiver Review Coming Up Turkey is one of nine countries still importing Iranian crude that in Ju...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Company Profile: Petroceltic Plots Big League Transformation
...ave the firm with around 38%; it will remain as operator), Italian power firm Enel bought 18.375% from Petroceltic in 2011, whilst state firm Sonatrach has 25%. With the aim of beefing up its ‘Ain Tsila team’ Petroceltic on 16 September appointed Ian Craig to chair Petroceltic’s Ain Tsila pr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Citadel Seeks More Capital
...ctor for managing to hold funding for the project together in the wake of Egypt’s 2011 Revolution as other investors pulled out (MEES, 6 February, 2012). In addition, the company’s key planned new investment is in Egyptian LNG import and re-gasification. But its bid to hire floating storage an...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Sudan Delays Ending Fuel Subsidies
...er implementation of the controversial policy. Sudan’s economy is still reeling from the significant drop in state revenues associated with the loss of around 75% of its former 450,000 b/d crude oil production when South Sudan seceded in July 2011 (MEES, 11 July). Oil income was – and still is...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013