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IOC To Farm Into South Sudan’s Block B Soon, Operator Total Says
...rlier (MEES, 14 July 1997) and the exit of Sudanese state firm Sudapet following South Sudan’s secession (MEES, 11 July 2011). Abu Dhabi’s state-owned conglomerate Mubadala initially showed an interest in replacing Marathon and Sudapet, but never followed up on it as Juba was intent on involving oil and ga...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Dubai Drydocks Uses Special Tribunal To Restructure $2.2Bn Debt
...s planned for completion in 2011, but hedge funds were not receptive and it dragged on. It then outlined the major terms of a new plan early in March, and said it planned to complete the process in mid-year. The company became over-leveraged when it expanded into Singapore. The company sa...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Militants Attack Yemen LNG Pipeline, Stop Production Of Four Cargoes
...quefaction plant after a similar attack was carried out on the pipeline in retaliation for the killing of a high-ranking al-Qa'ida official in an air raid on military bases in Yemen (MEES, 24 October 2011). This incident is only the latest in a long line of attacks on the country’s oil and gas in...
Volume: 55Issue: 15Published at Mon, 09 Apr 2012 -
Kuwait Eyes Permanent LNG Facilities As Politics Holds Up $90Bn Energy Plan
...boost the recovery rate of heavy oil to 40% from the current 5%, which would involve thousands of wells. Tests are underway and “we will have answers by the end of 2011,” Mr Khashti said. A further $100mn is being invested in onshore exploration, with the focus on gas, expected to be completed in 20...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar’s 2011-12 Budget Continues To Focus On Infrastructure Growth
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Qatar’s 2011-12 Budget Continues To Focus On Infrastructure Growth Qatar has unveiled a record budget for fiscal year 2011-12, which starts on 1 April, with total revenue of QR162.5bn ($44.6bn), up 27.4% from QR127.5bn ($35...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Oil Industry Leaders Wrestle With ‘Perfect Storm’
...e choosing to ignore market fundamentals, preferring to bet on worst-case scenarios,” Mr Hamili said. “There is little we can do in terms of price control,” he complained. Noe Van Hulst, Secretary General of the International Energy Forum (IEF) argued: “2011 is not 2008 [when prices surged to $14...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
MENA Revolt ‘Less Radical Than Claimed’
...ew a parallel between current market conditions and those in 2008, when prices reached an all-time peak at around $145/B for Brent. “Prices are high, and they started 2011 at almost the same level as at the beginning of 2008,” he said. “There is a suggestion that a repeat of the 2008 situation is wh...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
MENA Defense Spending As Percentage Of GDP Sees First Upturn In Six Years
...e previous year’s figure of 4.71%, according to the 2011 edition of the Military Balance, compiled by the London-based International Institute for Strategic Studies (IISS). With this, the MENA region has once again reclaimed its position as the biggest global spender on defense as a percentage of...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Saudi Crude Prices Mainly Reduced For May Deliveries
...s selling at Dubai plus $0.50-0.60/B in mid-March and Lower Zakum at ADNOC plus $0.40-0.50/B. Earlier in the month, Oman sold at Dubai plus $1.00/B and Murban sold at ADNOC plus $0.15-0.20/B. The formulas for May 2011 and the previous 12 months for deliveries to the US, Europe and the Far Ea...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Mar Feb Jan Dec Nov Oct Sep Aug Ju...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Capital Intelligence Downgrades Bahrain’s Ratings
...ternal creditor position. The ratings agency said it is concerned that the government may find it difficult to reverse temporary spending increases, particularly if political tensions linger, and that this will make the budget more vulnerable to oil price volatility. The price needed to balance 2011...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
TAP And BH-Gas Sign Agreement To Explore Gas Supply Options
...February 2011. Plinacro and BH-Gas are backing the proposed Ionian Adriatic Pipeline (IAP), which would deliver gas to Croatia, Bosnia and Herzegovina, Montenegro and Albania through an outlet from the TAP system. The IAP would also carry gas from the Caspian region and Middle East to Europe, vi...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran’s Inflation Rate Edges Up To 12.4%
...4% in the new year from 3% last year. According to the 2011-12 budget bill, which is still being debated in parliament, the reduction in subsidies will generate some IR600 trillion ($58bn) in increased revenue, 50% of which will be paid back to people in the form of handouts, 30% will be al...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran Sets 2011-12 Gas And Gasoline Targets
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 IRAN Iran Sets 2011-12 Gas And Gasoline Targets Iran’s Deputy Minister of Petroleum Mohsen Khojasteh-Mehr told reporters on 5 April that the country had set targets for the increase of gas production and for gasoline exports in...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran And Azerbaijan Still Negotiating Price For Iranian Gas Imports
...ar to around 1 bcm/year beginning 2011, with the prospect of reaching a maximum of 5 bcm/y by 2015 (MEES, 17 January). The contract had stipulated that exports would start once the upgrading of the Astara compressor station was completed. Mr Abdullayev said that “negotiations between the te...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Jordan Announces Price Increases For Most Petroleum Products
...6.5 ($9.17) per cylinder. Product prices are set monthly by a committee comprising members from the Ministry of Energy and Mineral Resources, the Ministry of Finance and the Jordan Refinery Company (JPRC). The latest price list will apply until 2 May. Product Prices Effective 1 April 2011 (Fils/Li...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar Maps Out 2011-16 Growth Plan
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 QATAR Qatar Maps Out 2011-16 Growth Plan Qatar has revealed details of its development strategy and forecast for economic growth in 2011-16, after Qatar’s Crown Prince Shaikh Tamim bin Hamad Al Thani unveiled the plans on 28...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Political Comment (11 April 2011)
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Political Comment (11 April 2011) In Libya pro and anti-Qadhafi forces appear for the moment to be locked in a military and political stalemate As bloodshed continues in Yemen, the GCC is seeking to mediate between su...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar’s Record 2010-11 Budget Targets Infrastructure Growth
...tput To Hit 77Mn Tons/Year By 2011 Qatar’s Prime Minister Shaikh Hamad bin Jasim Al Thani estimated 2010-11 GDP growth at 16%, at an investment forum in Paris on 25 March. He confirmed that Qatar expected to boost its LNG production to 77.4mn tons/year by 2011, from the current 56mn t/y level. Qatar’s fo...
Volume: 53Issue: 15Published at Mon, 12 Apr 2010 -
EIA Forecasts 2010 Demand Growth At 1.5Mn B/D, 1.6Mn B/D For 2011 As Economy Recovers
...Middle East Economic Survey VOL. LIII No 15 12-April-2010 EIA Forecasts 2010 Demand Growth At 1.5Mn B/D, 1.6Mn B/D For 2011 As Economy Recovers The Energy Information Administration (EIA) of...
Volume: 53Issue: 15Published at Mon, 12 Apr 2010