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Oil Earnings Fuel Bumper Saudi Budget
...tual figures for 2011 show that the kingdom’s revenues hit SR1,110bn ($296bn), their highest ever levels, even edging over the SR1,100bn ($293.3bn) seen in the boom year of 2008. While oil prices fell short of the $147/B peak reached in July 2008, throughout 2011 they maintained an average of over $10...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Noble Makes Major Gas Find Off Cyprus, Government Readies Licensing Round
...cember 2011). Delek first proposed building an LNG facility in Cyprus in a letter delivered to Mr Christofias in January 2011, about a month after Noble announced the discovery of 16 tcf of natural gas in the Leviathan field offshore Israel (MEES, 17 January 2011). Last April, Noble and Delek together pr...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Tribal Attacks Cripple Yemeni Oil Sector
...ntinue. In November, Yemen declined to renew Canadian independent Nexen’s operatorship of the 35,000 b/d Masila field, handing operations from 17 December to a proposed new state firm PetroMasila (MEES, 28 November 2011). “But this firm has no offices yet, no managing director, no experts. I just don’t se...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Iran’s Political Struggle May Further Delay Major Gas E&P Push
...ternational sanctions slowing projects, whose production has not pushed ahead of domestic demand. In January 2011 state-owned National Iranian Gas Company (NIGC) said the average gas consumption hit a new historical record of 530mn cmd, although only weeks earlier the government said consumption had fa...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Saudis Accelerate Multi-Billion Dollar Downstream Drive
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 SAUDI ARABIA Saudis Accelerate Multi-Billion Dollar Downstream Drive The first half of 2011 is likely to be a watershed period for the Saudi refinery and petrochemical sector, with state-owned Saudi Aramco set to...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Yemen’s 2011 Draft Budget Targets Structural Reforms
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 YEMEN Yemen’s 2011 Draft Budget Targets Structural Reforms The Yemeni economy faces a number of economic, social and political challenges, according to the 2011 budget statement issued by the government after ap...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011