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Egypt’s Ghurab Prepares For Oil Industry Restart
...e becoming an ever more critical issue. “This financial year [1 July 2010-30 June 2011] we estimate we will spend £E82bn ($13.6bn) in subsidies,” the senior Egyptian oil source says. “We can’t afford that. We can deal with £E50bn…no more,” he adds. The finance ministry “just says ‘you sort it ou...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Halliburton Announces Manifa Development Acceleration
...e to come on stream in 2011, but as costs escalated and projections on the call on Saudi crude were drastically reduced in the wake of the global financial crisis, the project was delayed. Saudi Aramco’s Annual Review 2009 stated that Manifa would come on stream in 2013 at 500,000 b/d, with the fu...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
LNG-Powered Vessels – A Potential Game Changer In Shipping
...wered vessels in operation – mainly smaller vessels in Norway. By the end of 2011 the first ocean-going LNG powered chemical tanker will begin operations. Large container vessels and cruise ships are expected to follow. The growth in international gas-fuelled shipping is held up by the lack of in...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
WTI Crude Tops $106/B With Continued Fighting In Libya
...terview with the Financial Times on 30 March, Fatih Birol, chief economist at the International Energy Agency in Paris said high oil prices had begun to hurt the global economy and expressed his concern for the economies of the OECD countries, especially Europe. He noted that OPEC revenues during 2011 wo...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Japanese Crude Oil Imports For February Decline From Previous Month
...nistry of Economy, Trade and Industry (METI) on 31 March. Year-on-year, Japan’s February 2011 crude imports rose by 3.38% from 3.757mn b/d in February 2010. Crude oil imports from the Middle East declined by 0.60% in February to 3.474mn b/d compared to 3.495mn b/d in January. Year-on-year, Japan’s im...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Saudi LPG Prices Raised For April Deliveries
...ange Propane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 50...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 14 1-Apr-2011 Crude Oil Formulas/Posted Prices ($/B) Oman ($/B) 2011 2010 May Apr Mar Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
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 -
Political Comment (1 April 2011)
...Middle East Economic Survey VOL. LIV No 14 1-Apr-2011 Political Comment (1 April 2011) In Libya the military pendulum swung briefly in favor of the opposition forces before being reversed by Qadhafi loyalists. NATO has now taken full command of enforcing UN resolution 1973. Sy...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
OPEC's Response To Currency Conflicts
...asons for maintaining its current production. 4 These reasons include expectation of lower demand growth in 2011 than in 2010 coupled with the fragility of global economic recovery, and especially fears of a second banking crisis in Europe, all of which would negatively impact on oil demand and ma...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011