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Cash Shortage Hits Iran’s Refineries: Tehran Mulls Bartering For Crude
...stribution Company (NIORDC) Managing Director Alireza Zeighami claiming Iran’s gasoline production was 377,400 b/d (MEES, 5 December 2011), but in December National Iranian Oil Products Distribution Company (NIOPDC) gave total consumption as 358,500 b/d with no explanation for the difference or reference to...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Saudi Arabia Takes Steps To Boost Capital Markets Trading
...vestors and small hedge funds (MEES, 26 December 2011). Rules are also likely to be strict to discourage market manipulation. The kingdom is hoping that by attracting professional foreign players with a long term outlook it will deepen the stock market, making it less volatile. If the market opens up as...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Algeria’s 2012 Budget Maintains High Level Of Social Spending
...om 2011. But compared to the 2011 supplementary budget deficit of AD5,074bn ($68.6bn) published last July, the deficit in 2012 is 21.7% lower. The budget law was published in Algeria’s Official Gazette on 29 December 2011, following the approval of the budget by parliament on 2 November 2011. The bu...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Iranian Crude Output Continues To Fall, Hurt By Sanctions
...pacity three-four years ago. In 2011, before the latest wave of sanctions, the International Energy Agency (IEA) said Iran’s production capacity will drop by 810,000 b/d to 3.1mn b/d by 2016 – assuming a 3.9mn b/d figure in 2010. “Iran’s oil industry is clearly under stress from further wide-ranging sa...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Iraqi Export Jump Signals Output Surge
...ice slide. If Iraq manages to hit, or even go close to, its 2011 output targets and oil prices remain stable, the country appears poised for a major revenue boost. Last year saw oil income rebound from 2009 lows, despite a slight fall in export levels (see Table 2). The last four months of the ye...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Algerian 2011 Budget Boosts Government Expenditure By 13%
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 ALGERIA Algerian 2011 Budget Boosts Government Expenditure By 13% The latest wave of protests in Algeria and other neighboring countries against economic hardships and political repression highlights the urgent need to ad...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Gas Plants Face Delays
...tended to provide feedstock to the 1mn t/y ethylene cracker at the Gachsaran Petrochemical plant, which was originally scheduled to start up in 2011. New ethane and LPG recovery units in the Parsian gas processing plant are planned to complement phase two of the plant, which started up in 2008, mo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Conference Debates Options For EU Gas Import Pipelines
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 CASPIAN Conference Debates Options For EU Gas Import Pipelines Theodoros Tsakiris reports from Vienna. Germany’s former Vice-Chancellor and Foreign Minister Joschka Fischer made a plea to the 2011 European Gas Conference, wh...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Regional Turmoil Hits Financial Markets
...gion as uncertain political situations will likely remain in focus through 2011,” said JP Morgan in a 26 January update on its recommendations for sovereign paper in the region. It noted that spreads on Tunisia’s dollar denominated bond, which matures in 2012, are 138 bps (basis points) wider on th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
North Africa’s Largest Project Financing Eyes Finishing Line
...TK) contract and is scheduled for completion in 2014 (MEES, 24 August 2009). It was originally due on stream in 2011 at a cost of $2.25bn (MEES, 26 January 2009, 30 June 2008)....
Volume: 53Issue: 05Published at Mon, 01 Feb 2010 -
Delay Pays Dividends For Abu Dhabi’s SAS Development
...fshore Umm al-Lulu field, operated by ADMA-OPCO, or an expansion of around 50,000 b/d at ADCO’s Bab field, where capacity is currently around 320,000 b/d. The ExxonMobil-led project to expand capacity at the offshore Upper Zakum field from 550,000 b/d in 2006 to 750,000 b/d by 2011 has hit hurdles am...
Volume: 52Issue: 05Published at Mon, 02 Feb 2009 -
Algerian Minister Dispels Doubt Over Upstream Plans
...anwhile, construction of the new 4.5mn tons/year train at Skikda, to replace those destroyed in an explosion in 2004 will start in June. The contract was awarded to the US engineering and construction company KBR in July 2007 (MEES, 16 July 2007), with an expected cost of $2.81bn, and will be ready in 2011...
Volume: 51Issue: 05Published at Mon, 04 Feb 2008