1. 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: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  2. 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: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  3. WTI Eases From Lower $90s/B Range, But IEA’s Birol Warns Price In ‘Danger Zone’

    ....14 89.75 92.32 90.22 30 Dec 89.84 93.09 89.54 91.27 89.47 31 Dec 91.38 94.75 88.76 92.93 88.99 2011 3 Jan 91...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  4. OAPEC Ministers Agree Oil Market Well Supplied

    ...ile Oman was trading at Dubai plus $0.70-0.85/B. The formulas for February 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as fo...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  5. Saudi Propane Price Set At Record $935/Ton For January, Butane Reduced To $920/Ton

    ...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 OIL PRICES/SAUDI ARABIA Saudi Propane Price Set At Record $935/Ton For January, Butane Reduced To $920/Ton Saudi Aramco has announced its January 2011 LPG contract prices for customers, with propane being set at a re...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  6. Crude Oil Formulas/Posted Prices

    ....05 74.75 Algeria (Dated Brent + / - Adjustment Factor; $/B)               2011 2010 Jan Dec Nov Oct Sep Aug Jul Jun May Apr Ma...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  7. Gazprom Considers Role Of Gas Sales Intermediaries

    ...tween Moscow and Sofia over the South Stream gas pipeline project. However, in November Russia’s Prime Minister Vladimir Putin agreed during a visit to Sofia to phase out all intermediaries during 2011-12, with a view to establishing from 2013 direct sales contracts between Gazpromexport and Bulgargaz....

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  8. Cyprus Agrees Details Of $6Bn LNG Supply Deal With Shell

    ...ich happens to lie some 60km away from Israel’s latest gas discovery – the 16 tcf Leviathan field. Noble Energy is obliged to drill a well in Block 12 between October 2011 and October 2013 (MEES, 13 December 2010)....

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  9. Dana Gas Egyptian Production Averaged 42,000 BOED During 2010

    ...d-2012. Dana will conduct a 14 well exploration program during 2011. It added that crude oil production at the Komombo concession, which it shares 50:50 with Sea Dragon Energy, averaged 620 b/d and is now producing 800 b/d....

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  10. POGC Plans Euro And Rial Bond Issues To Finance South Pars Work

    ...uth Pars gas field in the next Iranian year (21 March 2011 – 20 March 2012) is expected to exceed $12bn. Dr Vakili said that the company plans to issue, in the Iranian month of Bahman (January 21 – 20 February), in cooperation with the National Iranian Oil Company (NIOC) and the Central Bank of Ir...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  11. Noble Energy Makes Major Gas Discovery Offshore Israel With Leviathan Well

    ...cosia, the US firm is obliged to drill an exploration well in Block 12 between October 2011 and October 2013 (MEES, 13 December 2010), and Delek holds an option to acquire 30% of Block 12. In December Israel and Cyprus signed an agreement for the delimitation of their respective EEZs (MEES, 27 De...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  12. MASEN Prequalifies Bidders For First Phase Of Ouarzazate Solar Program

    ...ternational Company for Water and Power (ACWA), Aries IS and TSK EE; and Orascom CI, Solar Millennium and Evonik Steag. This first phase of the Ouarzazate solar complex will incorporate parabolic trough technology. Subsequent phases will be launched in 2011-12 in order to achieve the target of 500mw in op...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  13. Doha Bank To Issue Bonds Worth $500Mn

    ...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 QATAR Doha Bank To Issue Bonds Worth $500Mn Doha Bank, the third largest bank in Qatar, plans to issue $500mn in senior debt bonds through its fully-owned Bermuda-based subsidiary in the first quarter of 2011, it an...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  14. SEC Announces Plan To Expand Generating Capacity By 2016

    ...ter a board meeting that saw the ratification of the country’s 2011 budget – SEC Chairman Saleh al-Awaji stated that the company plans to begin work over the coming year on new projects to add 6.5gw of capacity by the beginning of 2012. Related projects include the building of 56 new high-voltage po...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  15. Saudi Economy Poised For Strong Growth In 2011, Says Riyad Capital

    ...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 SAUDI ARABIA Saudi Economy Poised For Strong Growth In 2011, Says Riyad Capital Despite the emergence of new strains on the global economy in recent months, the Saudi Arabian economy is set to post “robust growth” fi...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  16. Political Comment (3-10 January 2011)

    ...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 POLITICAL COMMENT Political Comment (3-10 January 2011) Belligerent anti-Turkish statements by Israeli Foreign Minister Avigdor Lieberman have done little for Israeli-Turkish relations or the cohesion of Israel's go...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011
  17. Oil Earnings Fuel Bumper Saudi Budget

    ...port. The actual 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...

    Volume: 54
    Issue: 01/02
    Published at Mon, 10 Jan 2011