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OPEC Ramps Up Demand Projections As Supply Surges
...gues. “Their domestic demand is growing. I think we are going to need 1mn b/d extra this year from OPEC year-on-year,” he said. OPEC’s projections for world economic growth stand at 4.5% for 2010 and 3.9% for 2011, according to the February edition of OPEC’s Monthly Oil Market Report (MOMR). This is...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Regional Tumult Centers On Inequality
...ised by the private sector through investment in human capital in the 2011 budget (MEES, 27 December 2010). Makeovers And Subsidies Some of those in power have tried to appease protestors through government makeovers and subsidies. But Syria has gone the other way and taken a hardline stance. On...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
IEA Raises Demand Growth Forecast On Higher Than Expected Consumption Data
...Middle East Economic Survey VOL. LIV No 7 14-Feb-2011 IEA Raises Demand Growth Forecast On Higher Than Expected Consumption Data In its latest monthly Oil Market Report (OMR), the International Energy Agency (IEA) has increased its forecast for global oil demand for 2010 and 2011...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
EIA Sees Oil Market Continuing To Tighten During 2011-12
...Middle East Economic Survey VOL. LIV No 7 14-Feb-2011 EIA Sees Oil Market Continuing To Tighten During 2011-12 The Energy Information Administration (EIA) of the US Department of Energy reiterated in its latest monthly forecast that it expects a continued tightening of world oil ma...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 7 14-Feb-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Mar Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Majlis Report Estimates Budget Deficit At $21Bn In First Nine Months Of 2010-11
...different sectors including the oil industry. He added that it was necessary to investigate the 1389 budget in order to make the 1390 (2011-21) budget “more realistic.” Meanwhile another deputy, Elias Naderan, who is a member of the Majlis Economic Commission, has cautioned in a newspaper ed...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Fresh Confusion Hits KRG-Baghdad Oil Negotiations
...t the incident does highlight the difficulty of the KRG-Baghdad negotiations. KRG exports have started, but without a firm agreement with Baghdad. Hence they could, as they did in 2009, grind to a halt, with negative repercussions for Iraq’s 2011 budget, oil development in the KRG and wider Ir...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Kuwait’s First IWPP Nears Request For Proposal
...pects to remit the bids before the summer to be able to award the project in 2011. The PTB will launch further IWPP plans, MEES understands, as this is expected to be the first of a series of projects. Plans suggest the inaugural IWPP at al-Zour will generate 1.5gw of electricity and 100mn ga...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
SAMA Adds $6.67Bn To Foreign Assets In December Due To High Oil Prices
...git growth in 2011,” according to BSF forecasts. Private bank credit, excluding investments in securities, hit SR743.05bn ($198.15bn) in December, up 4.8% year-on-year, SAMA reported. The proportion of loans outstanding in December carrying maturities of three years or longer rose to 24.8% from 23...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
TAQA Profits Surge To $255Mn For 2010
...ar. Combined with our rapid and tightly priced completion of necessary refinancing during 2010, we have started 2011 with confidence and conviction.” Over the course of the last year, the state-run utility pursued a number of strategic initiatives in the oil and gas sectors. These include the co...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Political Comment (14 February 2011)
...Middle East Economic Survey VOL. LIV No 7 14-Feb-2011 Political Comment (14 February 2011) President Husni Mubarak's refusal to step down has led Egypt to the brink of the abyss on Friday 11 February. The ongoing political crisis in Egypt has shredded relations between Wa...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Egypt’s Economic Woes Compounding: There Is A True Need For Change
...oting the article: “The oil that Egypt exports provides funds for the subsidies that it offers, so reduced exports mean less funds are available for subsidies.” The article predicts that in 2011 Egypt will change from an oil exporting country to an oil importing country. The final outcome is th...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011