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Lebanon Creeps Toward Economic & Political Abyss
...ttle to help the low growth climate, which in fairness was partly due to the war in neighboring Syria. A whopping 77% of government spending since 2011 has gone toward three items (see chart 2): government salaries (33%), payments on the interest of the government’s now $91bn debt (32%), and su...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Kuwait Emir’s Son Unleashes Political Upheaval
...gin the process of appointing a new government. Political upheaval is par for the course in Kuwait, but recent weeks have seen some of the most dramatic scenes since protestors stormed the National Assembly in November 2011. That event proved the undoing of Sheikh Jaber Mubarak’s predecessor, Sh...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iran Ups Geopolitical Stakes With Nuclear Advances
...at is expected to take six years. The Bushehr-2 plant will be built by Russia’s Rosatom, under a 2014 agreement between Moscow and Iran for the construction of four new 1GW plants at Bushehr. Rosatom completed the Bushehr-1 reactor in 2011, generating electricity from fuel rods supplied by Ru...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Syria’s Oil Reserves: Trump’s Half-Baked ‘Plan’
...l.” “I still can’t believe we left Iraq without the oil,” he tweeted in 2013, adding “to the victor belongs the spoils. There was no victor, but I always said ‘take the oil.’” Syria’s relatively modest oil industry was already on the slide when war broke out in 2011, averaging 386,000 b/d in 2010 – do...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Egypt, Ethiopia Hit Dam Deadlock
...Tripartite talks between Egypt, Ethiopia and Sudan in Khartoum about filling of the Grand Ethiopian Renaissance Dam (GERD) broke down last week with Cairo calling for international mediation. Announced in 2011 the $5bn, 6GW Grand Ethiopian Renaissance Dam (GERD) has suffered several de...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Turkey’s Plan For The East Mediterranean: Disrupt, Stir Up, And Provoke
...y. CLAIMS AND COUNTERCLAIMS IN THE EASTERN MEDITERRANEAN GUNBOAT DIPLOMACY Turkey certainly aims to show it means business. Since the 2011 discovery of the 4.2tcf Aphrodite field by US firm Noble Energy in RoC-awarded Block 12 - and the subsequent 2018 Calypso and 2019 Gl...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Tunisia At The Crossroads
...llowing the 2011 ouster of long-time ruler Zine al Abidine Ben Ali and into a young democracy. As prime minister of the transitional government in 2011, the secularist Mr Essebsi could have caused all sorts of problems for the ‘Islamist’ Ennahda party which won the October 2011 elections. He chose not to...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
‘Working 25/7’: Libya’s Oil Chief Sanalla Sits Down With MEES
...fline since the revolution in March 2011. Eight years. So our staff, they did good work for maintenance and we hope that we won’t see any problems. Also our polyethylene plant was offline for a long time. This will stimulate the local economy and will make the harbor operational again. Q: Can you co...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Rising Gulf Tensions Cast Spotlight Back On Iran’s Nuclear Capabilities
...wever, are uranium upgrading plants at Natanz and Fordow (see table). Bushehr-1 was started up in 2011 after a much-delayed gestation and suffered teething problems before commercial operation was declared in September 2013 (MEES, 10 October 2014). Russia’s Atomstroyexport provides uranium enriched to...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libya’s Oil Sector Feels The Strain
...oke out “due to the high temperature experienced in an electric generator” at compound 1 of the Sarir field in the Sirte basin, resulting in a production loss of around 30,000 b/d. Sarir has experienced persistent outages due to power problems since the 2011 ‘revolution’. NOC said the day before th...
Volume: 62Issue: 24Published at Fri, 14 Jun 2019 -
Cyprus: Aphrodite Contract Agreed, 2020 FID?
...Cyprus looks to be finally on the path to the realm of gas producers. Nicosia has agreed to sweeten terms in return for a guarantee from Noble, Delek and Shell to develop the 2011 Aphrodite discovery. The Cyprus government and the partners at the country’s 4.2tcf Aphrodite gas field have ag...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Gulf Monarchies Look To Score In Soft Power Premier League
...ampions League performance under Abu Dhabi ownership is the semis in 2015-16. At least this is one stage better than the Qatar Investment Authority (QIA) has managed to achieve since paying $100mn in 2011 for French Ligue-1 club Paris St Germain (PSG). QIA subsidiary Qatar Sports Investments (QSI) has si...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Energean Taps Cyprus For Israel Gas Exports
...ospects for Cyprus’ own 4.2tcf 2011 Aphrodite discovery. And Energean will struggle to meet even a modest sales commitment (especially from 2021) based on current reserves and development plans. The recent ‘Karish North’ discovery takes total recoverable reserves to around 3tcf (MEES, 19 April). Ho...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Tensions Flare As Turkey Drills Off Cyprus
...ach any sort of compromise, with the most recent summit in Switzerland in 2017, the last concerted efforts, failing to reach any sort of deal. Turkey has warned Cyprus about its own drilling activities to the south of the island and has been threatening since 2011, when Noble Energy discovered the 4....
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Syria: Oil Products Shortage Heightens Damascus ‘Post-War’ Challenges
...tbreak of war in 2011, and even with hostilities now at a relatively low ebb, economic hardships are continuing to take a massive toll. In particular, a shortage of oil products –gasoline, diesel, LPG and fuel oil – has triggered a nationwide crisis and the government in Damascus is scrambling to save fa...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Battle For Tripoli Rages On
...far, no disruption has been reported. GREATEST THREAT In a meeting with GNA prime minister Fayez Sarraj, NOC head Mustafa Sanalla said oil and gas exports face their greatest threat since 2011. He also told the Financial Times on 11 April: “Unless the problem is solved very quickly, I am...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Israel-Egypt Gas ‘By End-Q2’: Is This Realistic?
...URCE: NOBLE ENERGY, DELEK GROUP, MEES. ARBITRATION HURDLE The start of Israel-Egypt gas shipments also requires the resolution of a long-running legal dispute over Cairo halting of gas flows via the EMG to Israel in 2011 (MEES, 11 December 2015). In 2015, the Geneva-based International Ch...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Lebanon Power Overhaul Gathers Pace
...e table 1) are crucial to boosting growth from the average 1.6% annual GDP growth since 2011. With the world’s third-highest debt-to-GDP ratio (150%), the government is otherwise broke and unable to break the low-investment low-growth cycle that has long plagued it, especially since the 2011 ou...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Algeria’s Regime Under Threat
...volvement in day-to-day government is negligible. Protests against the regime are nothing new. Algerian citizens took to the streets in early 2011 against a backdrop of regime change in neighboring states. They did so again ahead of presidential elections in April 2014, when protestors chanted ‘Ba...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Gulf Loses Patience With Sudan
...an 450,000 b/d prior to the secession of South Sudan to 115,000 b/d in late 2011 and has fallen further since. The government puts current production at between 70,000-75,000 b/d; even this is probably an overestimate, says Mr Elhaj. On 13 February the Sudanese pound fell to a record low of SP 83 to...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019