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Falling Commodity Prices Won’t Mean Fewer Company-Government Disputes
...mining, at least 25 governments announced tax increases between 2010 and 2011 alone. Companies are left with the choice to acquiesce or seek legal redress, often in countries where the legal system is influenced by national politics and political elites. In May, Barrick Gold and Antofagasta we...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
China Consolidates Its Position In The Iraqi Oil Sector
...d is now on the verge of involvement in a fourth. The Ahdab oilfield was its first success story, where in 2008 CNPC agreed to convert the production sharing contract signed in 1997 into a long-term service contract. Work on Ahdab started in March 2009, and by June 2011 its output reached 60...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Towards An Efficient LNG Market In The Asia-Pacific
...ntribute to that dialogue by discussing the Asian LNG market and its prospects for increased integration, efficiency and growth. The International Energy Agency (IEA) has spoken of a golden age of gas (MEES, 13 June 2011), and for good reason. We see a growing and positive contribution of gas to global en...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Arctic Economics In The 21st Century
...timates that traffic through the Bering Strait has nearly doubled from 245 vessels in 2008 to over 400 vessels in 2011. Finally, with tourism, the number of cruise ships venturing in Arctic water has more than doubled over the past eight years. More than 65,000 passengers departed from Svalbard, Norway, an...
Volume: 56Issue: 41Published at Fri, 11 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 -
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 -
Cutting GCC Oil And Gas Consumption: A Roadmap
...source exports. In this context, Chatham House worked with partner institutions, policy-makers and technical experts in Saudi Arabia, the UAE, Oman, Qatar and Kuwait to support practical strategies to conserve energy. Between 2011 and 2013, discussions took place at six workshops, including re...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Libya And Iraq: The Weakest Links In World Oil Markets
...oblems date back to October 2011, when Qadhafi was finally ousted and attempts to repair the country ravaged by dictatorship began. The revolution was not won by a single group with cohesive aims, but a collection of diverse militias. From the outset, there was a high degree of tension between se...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
The Policy Vacuum Of Iraqi Gas Pricing
...bair. South Oil Company (51%), Shell (44%) Mitsubishi (5%) 25-year service contract awarded by the MoO through 2011 direct negotiation. Under d’ment. Expected 2-3bn cfd plateau for power gen. and F-LNG Block-8 Gas Ex...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Assessment Of Iraq’s Nasiriya Integrated Project Contract
...eferred then but the negotiations broke down. Accordingly, it was announced that the field will be developed through national efforts. However, in January 2011 the MoO formally announced plans to invite IOCs to develop the Nasiriya oilfield together with a refinery of 300,000 b/d in a bid round la...
Volume: 56Issue: 34Published at Fri, 23 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 -
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 -
OPEC’s Dilemma
...OPEC OPEC’s Dilemma Two new dimensions to international oil markets are creating a real dilemma for OPEC and may be sowing the seeds of a major oil price shock. The first is the fall-out from the “Arab Uprisings” that began early in 2011, and the second is the de...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Export Of Shale Gas: Perspective From Japan
... GLOBAL Export Of Shale Gas: Perspective From Japan By - James T Jensen* Since the 2009 recession, Japan has increasingly been forced to face severe challenges to its energy and environmental policies. The Fukushima disaster in March 2011 placed the future of...
Volume: 56Issue: 29Published at Fri, 19 Jul 2013 -
Algeria’s Natural Gas Policy: Beware Of The Egypt Syndrome!
...ose of electricity for that matter) since December 2005. As far as ARH is concerned, it managed, as explained in the Box on p19, to amend the relevant decree to adjust the indexation formula upward but the supply price it last notified in 2011 was kept below what the new formula actually suggested (Fi...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Iraq’s Integrated National Energy Strategy: Investment And Institutional Requirements
...llion as capital expenditures and $90 billion as operating expenses), in 2011 dollars between 2012 and 2030, including all contracted payments to TSC operators. Of this total figure, it is assumed that about 15% will be available from private investments, primarily in refineries and linked in...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
MENA Power Sector: Catching Up… But Far From There Yet
...ructures, as well as disparate climate conditions. A cross-section regression analysis for 2011 (the year for which all statistics are available) highlights these differences. Figure 2 shows that, on a log-transformed basis, per capita capacity increases with per capita GDP, which is an adequate proxy for th...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
International Oil Market Developments
...vements, which led to the suspension or huge reduction of exports from countries such as Egypt, Syria, Yemen and even Tunisia. Moreover, conflict between Sudan and South Sudan led to suspension of the latter’s exports. • The tsunami, which hit Japan in March 2011 led to the shutdown of most Ja...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
Cyprus Bail-Out Terms Signal Huge Policy Shift For Eurozone Bank Resolution
...en bondholders sued, the courts upheld the Government’s position. Table 1: Assets Of National Banking Systems % National GDP, End 2011 Eurozone 17 Assets of All Banks % GDP Assets of Domestic Banks % GDP Austria 395 29...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Upstream Costs – Do They Justify High Oil Price?
...2007and $111.3/B in 2011 – having fallen back somewhat during the great recession of 2008-09 – has not been a consequence of the rise in production costs and these costs do not support the current oil price levels. Even if the cost of production had reached $100/B, one cannot apply to the oil ma...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013