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Oman Prepares To End Gas Subsidies For Future Projects
...ys. Pre-front end engineering design (FEED) work for the full field developmentis due to finish in the third quarter of 2011, then a 12-month FEED project starts, allowing the FID to be taken before the end of 2012. By then BP will know the amount of water and NGLs that need handling. Capital ex...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Iraq’s KRG Regional Producers Start Oil Test Flows For Export
...gotiators to the limit. Yet a deal will have to be made. The Taq Taq field development, led by Sinopec and Turkey’s Genel Enerji, and the DNO-led Tawke field, will be providing the vast majority of 2011 exports. Both projects can produce around 50,000 b/d; indeed Taq Taq has gone as high as 67...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
OPEC Shrugs Off Threat To Supply From Potential Egypt Disruption
...praised as to exactly how much new Iraqi supply is expected on the market this year. But at present he does not expect a significant impact. “I am sure for 2011 Iraq will not disturb our production,” he said. But, MEES calculates, rising Basra province output has already boosted Iraq’s capacity by ov...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
ESAI Forecasts Growth Of 950,000 B/D This Year In Asia’s Product Demand
...Middle East Economic Survey VOL. LIV No 6 7-Feb-2011 SUPPLY/DEMAND ESAI Forecasts Growth Of 950,000 B/D This Year In Asia’s Product Demand US-based Energy Security Analysis, Inc (ESAI) has forecast that Asian oil demand will grow by 950,000 b/d during 2011, down slightly from pr...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Saudi Crude Prices Raised To US, Reduced To Asia And Europe
...e in decline, Oman crude sold at Dubai plus $0.40-45/B, compared with Dubai plus $0.70-0.85/B in December. The formulas for March 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...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Saudi LPG Prices Reduced Sharply For February
...Middle East Economic Survey VOL. LIV No 6 7-Feb-2011 OIL PRICES/SAUDI ARABIA/OPEC Saudi LPG Prices Reduced Sharply For February Saudi Aramco announced on 31 January a cut in the February 2011 LPG contract prices, marking down propane by $115/ton to $820/ton and reducing bu...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 6 7-Feb-2011 OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Oman ($/B) 2011 2010 Mar Feb Jan Dec Nov Oct Sep Aug Ju...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
IMF Says Algeria Managed To Mitigate The Effects Of Global Financial Crisis
...its latest Article IV consultation published on 26 January. Real GDP growth in 2010 is projected at 3.3%, with non-hydrocarbon real GDP estimated at 5.3%, and projections for 2011 are almost at the same level as in 2010. The IMF said that the prudent macroeconomic management of the last 10 ye...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Azerbaijan To Sell Gas Directly To Greece
...pplies, while looking to become a leading participant in the South Stream pipeline project, including a transit option towards Italy. Mr Kouvelis also proposed to Mr Aliyev that Socar participates in the tendering process to buy shares in DEPA, which is due for privatization in the second half of 2011. Th...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Ratings Agencies Downgrade Egypt On Political Unrest
...ting of the class A3 notes issued by Petroleum Export Limited (PEL), said Moody’s. There are some structural features in the transaction that lead the class A3 notes to currently have an intrinsic credit quality that is stronger than Egypt’s Ba2 rating. The notes will mature on 15 June 2011 and ha...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Iran’s Inflation Rate Rises To 10.8% In January
...e table below. CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1389 (2010-11) 9.513 1390 (2011-12) 3.749 1391 (2012-13) 1.884 1392 (2013-14) 1.502 1393 (2014-15) on...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Jordan’s Foreign Aid Tops $1.1Bn In 2010
...is total, grants amounted to $782.2mn, or 69%, and concessionary loans to $351.2mn, or 31%. An official of the ministry said that Jordan has managed to receive the same level of foreign aid in the period 2008-10 despite the global financial crisis and hoped that this level would be maintained in 2011...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Lebanon Asks UN To Broaden UNIFIL Mandate For Offshore Demarcation
...tober 2011 (MEES, 29 November 2010). However, the current state of political affairs in Lebanon does not bode well for follow-up legislation that will enable Lebanon to advance its nascent energy sector. The UN initially declined to become involved in the demarcation of Lebanon’s maritime borders. UN...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Saudi Economy’s Real Growth Rate Was 3.8% In 2010, Says Jadwa
...ready picked up in January, initially because of investor confidence about the outlook for 2011. The jump in the final few days of the month lifted the total value of shares traded to SR83.8bn ($22.34bn), the highest since May 2010, it concluded....
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Political Comment (7 February 2011)
...Middle East Economic Survey VOL. LIV No 6 7-Feb-2011 POLITICAL COMMENT Political Comment (7 February 2011) After a week of further violence in Egypt, the future of President Husni Mubarak was still unclear. In Jordan the king has replaced his prime minister, while in Yemen Pr...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011