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New Commerce Minister Looks To Push Ahead With Cyprus’s Natural Gas Plans
...silikos power station, where 793mw of capacity was destroyed in July 2011 by an explosion at a nearby military base. Some of that power generation capacity will come back online in mid-to-late 2013. Meanwhile, Cyprus is relying on heavy fuel oil for power generation. Cyprus has been fined by the EU for it...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Work Begins On VTTI Oil Storage Terminal
...te by mid-2014. The company held a ground-breaking ceremony at the site, located in an area designated by the government as the Vasilikos Energy Center on the island’s southern coast, in January 2011 (MEES, 24 January 2011). Vasilikos is also the site proposed by US energy firm Noble Energy for an LN...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Permit Approvals Set To Boost Apache’s Egyptian Production
...th Libya. The approvals indicate that Egypt’s oil bureaucracy, which almost ground to a halt in the second part of 2011 following last February’s ouster of former president Husni Mubarak, is getting back into gear. A senior figure at Apache in Egypt tells MEES that whilst some of the recent de...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Egypt And IMF Hold More Talks On $3.2Bn Loan
...F delegation about this the lack of transparency in the budget. Egypt’s economy has suffered from the year of turmoil since the uprising began in January 2011, which saw a fall in tourism income and decline in the foreign currency reserves of the country to $15.7bn at the end of February 2012 (MEES, 12...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Yildiz Denies Notification Of US Sanctions On Turkey Over Iran Imports
...cember 2011 (MEES, 2/9 January). The State Department official reportedly said that “the assessment of which countries could be subject to the sanctions was a dynamic process and that other countries could be added or dropped as additional information becomes available.” The list of countries to...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
ILDC Energy Plans Drilling In Myra And Sarah Blocks This Summer
...ril and mid-May. Israel’s Petroleum Supervisor has extended the consortium’s work permit to a deadline of 15 June for the start of drilling in Myra. ILDC Energy contracted the Homer Ferrington in July 2011 (MEES, 11 July 2011). Drilling targets on the two blocks are thought large enough to hold a co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Kuwait Appoints New CBK Governor
...om Emory University, Georgia. Dr Hashil, 37, joined the CBK in 2004 and has served as Deputy Governor at the bank since his appointment in 2009. He was also a member of the Kuwait Stock Exchange Committee from 2008 to 2011, during which time the country decided to privatize the stock market. Ac...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011
...oman IMF Says Public Spending And Oil Prices Boost Oman’s Growth To 5.5% In 2011 Real GDP growth is estimated to have reached 5.5% in 2011, up from 4% in 2010 and 1.2% in 2009, driven by increasing government spending and higher oil prices, the IMF said on 26 March in an Article IV co...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
QP And Shell Appoint RBS To Advise On $6.5Bn Petrochemical Project
...ns/year monoethylene glycol plant, a 300,000 t/y linear alpha olefins plant and another olefin derivative unit (MEES, 12 December 2011). Qatar, the world’s biggest LNG exporter, is trying to further develop its petrochemical sector and recently announced that QP and Qatar Petrochemical Company (QA...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Mubadala Buys $2Bn Stake In Brazil’s EBX
....5bn in 2011-12 and $50bn spread over the next 10 years. Mubadala and EBX said in a joint press release that the partnership creates a platform and framework for future collaboration. “The message is that the two companies will explore opportunities together,” said the source, noting that “there’s no...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Saudi Arabia Pledges Oil Products To Yemen
...pply shortfall during the unrest that lead up to the ousting of former president 'Ali 'Abd Allah Salih (MEES, 1 August 2011). Speaking on the sidelines of the International Energy Forum in Kuwait this month, Yemen’s new Minister of Oil and Minerals Hisham Sharaf 'Abd Allah revealed crude output was cu...
Volume: 55Issue: 14Published at Mon, 02 Apr 2012 -
Calik Enerji Wins Contract To Build 750MW Gas-Fired Power Plant Near Mosul
...sul. The company is expected to complete building the 750mw, six-turbine plant in 20 months. This is the second Iraqi power project won by Calik in 2011. In January the company announced it had won a $445.5mn contract to build the al-Khairat gas-fired combined cycle power plant near Karbala. The 1....
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Kuwait Launches Tender For Al-Zour North Power Plant
...ggest projects. Sixteen international companies had been pre‐qualified in February for bidding (MEES, 14 February). The Partnerships Technical Bureau (PTB), which oversees the IWPP process in al‐Zour, expects to receive the bids before the summer to be able to award the project in 2011. Al‐Zour No...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Qatar Unveils National Development Strategy
...Middle East Economic Survey VOL. LIV No 14 1-Apr-2011 QATAR Qatar Unveils National Development Strategy Qatar’s Crown Prince Shaikh Tamim bin Hamad Al Thani on 28 March unveiled the National Development Strategy 2011-16, which is set to achieve the goals of the Qatar National Vi...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Uncertainty Is Set To Continue, Says Crédit Agricole
...ril. Whereas under the first scenario analysts expect oil supply/demand to rebalance in the second half of 2011, in the second scenario – Crédit Agricole’s base case – markets are likely to be oversupplied due to the extra production from OPEC and prices would be expected to correct sharply in the se...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
2010 Outlook For Jordan Uncertain, Bank Audi Says
...spectively. “Within this context, careful management of discretionary spending will be needed going forward in order to consolidate public finances and bring public debt back within legislated limits,” says the bank, adding that if the 2010 budget is followed by another austere budget in 2011, the public debt to...
Volume: 53Issue: 14Published at Mon, 05 Apr 2010 -
Turkey’s Gas Imports Bill Totals $9.9Bn In 2009, Crude Imports $6.4Bn
...an or Iraq and Egypt. The energy plan calls for negotiations with Azerbaijan and Nabucco gas pipeline partners to be concluded this year in order for construction of the 3,300 km pipeline to begin in 2011, and for a gas pipeline link to be completed next year with Syria – through which Egyptian gas wo...
Volume: 53Issue: 14Published at Mon, 05 Apr 2010 -
Gazprom Plans Blue Stream Pipeline Expansion
...pansion on hold after Russia decided to promote the South Streamgas pipeline project, but the idea has been revived in the light of Turkey’s projected demand increase after 2015 and the expiration in 2011 of the first of three long-term supply contracts signed in the early 1990s....
Volume: 52Issue: 14Published at Mon, 06 Apr 2009 -
Spain’s Befesa Wins $291mn Ténès Water Desalination Project
...ild 13 new desalination plants between 2005 and 2009, with a combined capacity of 2.2mn cmd, would now be achieved in 2011, with 1mn cmd of capacity to be operational before the end of 2009. The new 200,000 El-Hamma desalination complex, built by General Electric at a cost of $250mn and thought to be...
Volume: 51Issue: 14Published at Mon, 07 Apr 2008 -
Construction Of Kazakh Section Of Trans-Asia Gas Pipeline Project To Begin In Months
...m/year. By the end of 2010 the second pipeline will come into operation, and throughput will rise to 17 bcm/year during 2011. The pipeline is due to reach a capacity of 30 bcm/year in early 2012 and eventually this will rise to 40 bcm/year. “The main point about the pipeline is that it is de...
Volume: 51Issue: 14Published at Mon, 07 Apr 2008