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KRG Announces First Payment For Oil Investors
...n barrels of oil from the Kurdistan region between the start of February 2011 and 27 March,” said KRG Prime Minister Barham Salih. KRG oil exports restarted in February after Irbil and Baghdad agreed a temporary solution to their four-year stand off, whereby foreign oil producers in the KRG would be...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
GCC Gross Foreign Assets To Reach $1.7 Trillion In 2011, Says IIF
...Middle East Economic Survey VOL. LIV No 19 9-May-2011 REGIONAL GCC Gross Foreign Assets To Reach $1.7 Trillion In 2011, Says IIF Gross foreign assets of the GCC countries in 2011 are projected to rise to $1.7 trillion (against foreign liabilities of $0.5 trillion) and of Arab co...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Regional Unrest Has Impacted GCC Financial Markets In 1Q11, Says Saudi NCB
...February 2011. “However, the pace of increase in the private sector lagged public sector credit and rose by a more modest annualized 6.6% to QR196.6bn ($53.99bn) in February 2011,” according to the study. In Saudi Arabia, overall lending in 1Q11 was 5.6% ahead of the corresponding period a ye...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Saudi Hydrocarbon Sector Optimism Strong In 2Q11, NCB Says
...e Saudi government, the rise in oil output is also expected to heighten the prospects for GDP growth in 2011. Accordingly, the BOI said that the hydrocarbon sector was expecting a rise in demand levels in the second quarter of this year, while the BOI for the volume of sales for 2Q11 re...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
QEWC Cancels Plans To Build Two 450MW Power Plants In Syria
...mpanies had signed an agreement for the joint development, financing, construction and operation of the two power plants. The combined cycle plants were to be built at Sweidieh in the industrial city of Adra, close to oil fields in northeastern Syria. The work was expected to begin before April 2011 an...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
ENOC Expects To Spend $735Mn On Fuel Subsidies In 2011
...Middle East Economic Survey VOL. LIV No 19 9-May-2011 UAE ENOC Expects To Spend $735Mn On Fuel Subsidies In 2011 The Emirates National Oil Company (ENOC) – one of two fuel marketing and distribution companies in Dubai – revealed on 30 April that it expects to spend a total of AE...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Political Comment (9 May 2011)
...Middle East Economic Survey VOL. LIV No 19 9-May-2011 Political Comment (9 May 2011) Fatah and Hamas have formally signed their reconciliation agreement, described by the Israelis as "a victory for terrorism." The Muslim Brotherhood in Egypt has formed a political party to co...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
NIGC Estimates Gas Exports At Up To 7.5BCM This Year
...nistry of Petroleum’s PIN news service on 5 May that during the current Iranian year (21 March 2010 – 20 March 2011), Iran would import around 10bn cu ms of gas from Turkmenistan and export up to 7.5 bcm to immediate neighbours including Turkey, Armenia and Azerbaijan. This would represent a significant in...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Expanding Gas Sector And Government Spending Driving Qatar’s Growth, Says NBK
...termined drive to diversify the economy and strong government backing should help shield Qatar and secure continued growth, concludes the report. Qatar’s real GDP growth is estimated at 9.8% in 2009 and is expected to accelerate in 2010 and 2011 to 16% and 12%, respectively, largely in step with in...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Maghreb Economies Unscathed By Global Crisis, Says IIF
...ve maintained the pace of steady reforms, achieving solid growth rates and stable financial conditions. The gradual recovery in the EU area should raise demand for Moroccan and Tunisian goods and support recovery in the tourism sector. In 2011, both countries are projected to return to higher growth, 4....
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Syria And Iran Review Gas Import Plans
...eppo, Syria to Kilis, Turkey which is due to be completed by early 2011 (MEES, 23 November 2009). The two countries also agreed to implement a preferential trade agreement which is to be put into effect on 1 June and to boost the level of trade between them to $5bn. They also agreed to cooperate in the ba...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
QEWC To Build Two 450MW Gas-Fired Power Plants In Syria
...A) from its allocation to the Ministry of Electricity, said SQHC. The work will begin before April 2011 and the plants are expected to be fully operational by June 2013. The generated power will be supplied to the Syrian national grid through a long term power purchase agreement (PPA) or an energy co...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Key Results From The 12th IEF In Cancun
...rst Annual Symposium on these outlooks is planned for January 2011 at the IEF Secretariat, in cooperation with the IEA and OPEC, with participation from the main institutions that publish regular energy outlooks. Facilitating NOC/IOC Cooperation With an investment need of over $25 trillion between no...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
GEEI Green Paper Urges Quick US Action On Energy Security
...obal dependency on OPEC oil. Oil at $40/B has already led to a slowdown in new investment in Canadian oil sands and other energy projects,” the paper says. “By the time demand recovers, perhaps as late as 2010 or 2011, a supply gap may emerge which could take another five to seven years to fill. Ma...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
China To Close Small Refineries
...Middle East Economic Survey VOL. LII No 19 11-May-2009 SUPPLY/DEMAND China To Close Small Refineries China’s National Development and Reform Commission (NDRC) has announced that the government will close all refineries with capacities below 1mn tons/year (20,000 b/d) by 2011 an...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
China Approves Storage Plan For 10Mn Tons Of Refined Products
...Middle East Economic Survey VOL. LII No 19 11-May-2009 SUPPLY/DEMAND China Approves Storage Plan For 10Mn Tons Of Refined Products China has approved a plan to build by 2011 storage facilities to hold 10mn tons of refined products, Reuters reported on 6 May. The products in...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
Bulgaria And Qatar Holds Further LNG Talks, As Poland Signs Deal With Qatargas
...rkets of Bulgaria, Romania and possibly Hungary to LNG imports from the Middle East and North Africa. Bulgaria recently signed a memorandum of understanding (MOU) with Egypt for the supply of 1 bcm/y of gas, to be delivered as LNG beginning in 2011-12 (MEES, 4 May). The EERP has earmarked more th...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
CBI Reports Some Favorable Economic Indicators Until End 2008, But Future Uncertain
...09-10) 7.103 1389 (2010-11) 2.623 1390 (2011-12) 2.189 1391 (2012-13) onwards 7.261 The value of Iran’s oil and gas exports by 20 December 2008 stood at $71.654bn, compared to $58.147bn a year earlier, according to the CBI. By 20 December the value of...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
Qatar Breaks Ground On $4Bn IWPP
...its full rates by 2011. It will be the largest power operation in Qatar, and one of the largest in the Gulf, when it comes on line. Speaking at the groundbreaking ceremony, Deputy Premier and Minister of Energy and Industry 'Abd Allah al-'Attiyah said that the project is part of the power an...
Volume: 52Issue: 19Published at Mon, 11 May 2009 -
Algeria Assigns $5bn Financing Package For Terga And Koudiet Eddraouch Power Plants
...st an estimated $2.4bn and is due for completion in September 2011, is being built by a consortium comprising Egypt’s Orascom Construction Industries (OCI) and the French engineering group Alstom (MEES, 26 November 2007). Of the total cost, 30% will be funded by Sonelgaz and Sonatrach, with the re...
Volume: 51Issue: 19Published at Mon, 12 May 2008