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Algeria To Generate 22GW Of Renewable Energy By 2020
...inciple to a long term cooperation with the DII in mid-May last year, marking a sharp change in policy after Algerian officials initially expressed reservations about their participation in the initiative because of doubts regarding the sovereignty of the territory (MEES, 30 May 2011). “Algeria offers pe...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
US Envoy Voices Doubts Over Nabucco’s Prospects, May Favor SEEP
...ll not be large volumes in the beginning.” Nabucco is one of four major pipeline projects competing to supply gas from Azerbaijan’s Shah Deniz Stage 2 development to Europe (MEES, 19 December 2011). Mr Morningstar spoke in favor of projects that “focus on gas supplies via the south direction to th...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Shah Deniz Expected To Win Waiver From US Sanctions
...empted from the latest round of US sanctions against Iran, as set out in the Iran Threat Reduction Act of 2011 which was signed into law by President Barack Obama on 31 December 2011. Shah Deniz leading partner BP, along with EU and US officials including Ambassador Richard Morningstar, the US Special En...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Gazprom And Socar To Expand Gas Trade In 2012
...om Azerbaijan in 2010 and almost 1.6 bcm in 2011....
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Kuwait Energy Announces Gulf Of Suez Oil Find
...lds a 70% working interest, with Omani independent oil company Petrogas E&P holding the remaining 30%. A statement by Kuwait Energy said that its Egyptian operations contribute the largest share to its working interest production of 17,700 boe/d at the end of 2011. The company is operator of Area A, the Bu...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
‘Experimental’ Amounts Of Egyptian Gas Flowing To Jordan
...eraged 80mn cfd in 2011. The disruption in supply began early last year following the collapse of the Mubarak regime when saboteurs in the Sinai Peninsula began to attack the pipeline infrastructure around al-'Arish affecting Egyptian gas shipments to Jordan and to Israel. Jordan relies on Egyptian ga...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
NOC Claims To Have Hit 1.3Mn B/D Production Mark
...sis Group’s Gialo and Defa fields and Eni’s Murzuq basin blocks have made a sizeable contribution. Late last month output stood at around 1mn b/d, with the 70,000-80,000 b/d Gialo field just having begun to restart (MEES, 26 December 2011). Output at Wintershall’s NC-96 and NC-97 fields is up at ar...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
IMF Marks Down Global Growth, But Keeps MENA Forecast Unchanged
...REGIONAL IMF Marks Down Global Growth, But Keeps MENA Forecast Unchanged The IMF cut its global economic growth forecast on 24 January. Citing intensifying strains from the Eurozone crisis, it predicted an increase of only 3.3% in 2012 and 3.9% in 2013. In its September 2011 forecast, th...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Samba Sees Saudi GDP Up 3.8% In 2012
...oil imports from Iran. It predicts that the kingdom will see higher growth in 2013, and puts this at 4.5%. In 2011 the growth rate was 6.8%, the highest since 2003, with much of this attributable to gains in crude oil production due to Libyan outages. However, the non-oil sector also benefited fr...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
South Sudan Shutting Down Oil Output As Kenya Pipeline Deal Is Signed
...ndlocked south, which seceded from Sudan last July (MEES, 11 July 2011). A memorandum of understanding (MOU) was signed by South Sudan and Kenya allowing for “the development of an oil pipeline and fiber optic connections between the oil fields in South Sudan and the Kenyan port town of Lamu,” a statement re...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Western Sanctions Cost Syria $2Bn Since September
...SYRIA Western Sanctions Cost Syria $2Bn Since September US and EU sanctions on Syrian oil exports since the beginning of September 2011 have cost the county an estimated $2bn, Syrian Minister of Petroleum and Mineral Resources Sufian 'Alaw announced in a press conference on 20 Ja...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Syria Moves Towards A Managed Float Of Its Currency
...SYRIA Syria Moves Towards A Managed Float Of Its Currency With the ongoing political upheaval in Syria since March 2011, the value of the Syrian pound is continuing its slide on the foreign exchange market, hitting a low of $1=S£71 on the free market a week ago. Syrian Prime Minister 'Ad...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
KMG Reports ‘Signs Of Hydrocarbons’ From N-Block Well
...lf of 2011. Mr Kabyldin also announced on 25 January that KMG has decided to freeze the development of the Kazakhstan Caspian Transportation System (KCTS) until 2018, when the second phase of Kashagan’s oil production is expected to come on stream. “We are planning to build the oil terminal [at th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 EGYPT/EAST MEDITERRANEAN Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds Egypt is expected to offer licenses for exploration and development in around 18 concessions during 2011, according to recent remarks made by...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Reduces Emergency Fuel Additives Production At Petrochemical Plants
...pand its gasoline production capacity by 10mn liters/day (62,900 b/d) before the end of the current Iranian year (21 March 2010 – 20 March 2011) and would start inaugurating a new major refinery unit every month of 2011 starting from February. “Later in this year we will become self-sufficient th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Yildiz Visits Iran To Discuss Energy Investments
...tentially by September 2011, into the European Network of Transmission System Operators for Electricity (ENTSOE) grid. Following his meeting with Mr Yildiz, Mr Namjou noted that “a comprehensive road-map will be drawn for the two countries’ cooperation in the energy sector, which will be the pillar for Ir...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 KUWAIT Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit The Kuwaiti draft budget for 2011-12, which starts on 1 April, is projecting total revenue of KD13,445mn ($48,133mn), up 38.3% over the pr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 oman Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says Real GDP growth in Oman is projected to rise further to around 5% this year, after posting growth figures of 1.1% and 4.1% in 2009 and 2010 respectively, the IM...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
IMF Trims MENA Growth Forecast For 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL IMF Trims MENA Growth Forecast For 2011 While the IMF marginally increased its forecast for world growth to 4.4% for this year, it trimmed predictions for MENA from the levels it reported in its October 2010 Wo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Samba Forecasts 6% GDP Growth For GCC Economies In 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL/GCC Samba Forecasts 6% GDP Growth For GCC Economies In 2011 Although the global economy enters 2011 in a state of some uncertainty, the outlook for the GCC economies remains positive, with regional real GDP gr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011