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Saudi Money Supply Growth Soars To Two-Year High In April, BSF Says
...ntal inflation and some base effects.” The Saudi Arabian Monetary Agency (SAMA) disclosed in its latest quarterly inflation report that it expected inflationary pressures in the kingdom to continue “at moderate rates” in the second half of 2011. “The block of state initiatives unveiled in the fi...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Political Comment (6 June 2011)
...Middle East Economic Survey VOL. LIV No 23 6-Jun-2011 Political Comment (6 June 2011) Syrian President Bashar al-Asad's declaration of a general amnesty has met with a skeptical reception. Yemen's problems are metastasizing. In Bahrain the authorities have lifted martial law an...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
The Forthcoming Exploration Blocks Bid Round In Iraq: Issues For Consideration
...s own development consultancy and research firm. (Email: mou-jiya@online.no). Introduction And Background The Ministry of Oil deferred the holding of the exploration blocks bid round, a fourth bid round in a row, from November 2011 to January 2012. The event would offer 12 exploration blocks fo...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Middle East Poised For Multi-Billion Barrel Heavy Oil Expansion
...gent basis. And through this mechanism, which we started in 2006, we got an extraordinary budget of $200mn; we were able to add 500mn cfd to the gas availability in Bahrain, which should come on stream in 2011,” he said. But this 500mn cfd will largely be used to offset declines, until the Awali as...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
Cash Shortage Delays Iran Gas Pipeline, Pakistan Pursuing LNG Imports
...going ahead with liquefied natural gas (LNG) imports and is in talks with Qatar, which is diverting LNG into the Asia-Pacific market during the global gas glut. However, Pakistan’s first planned LNG terminal, which was due to open in Karachi by the end of 2011, has been delayed by the Supreme Co...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
Active MENA Project Finance Sector Grapples With Funding Challenges
...rel Breda, GDF Suez’s Head of Acquisitions, Investments and Financial Advisory, MENA and India. “They do not reflect the cost of funding, but instead the limited number of banks in the market,” he said. While he sees some improvement, he predicts that in 2011 market conditions will be similar. “On th...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
KMG Sees KCTS As Main Export Route For Kashagan Crude
...tober 2009). Azeri Minister of Energy Natiq Aliyev told the conference that BTC’s transit capacity will be boosted to 1.6mn b/d by late 2011 to handle the KCTS volumes, from the current 1.2mn b/d. Deliveries via KCTS are expected to rise to 500,000 b/d by 2015, and to be expanded to 760,000 b/d by 20...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
EU And Jordan Agree Aid Package Of €223Mn For 2011-13
...Middle East Economic Survey VOL. LIII No 23 7-Jun-2010 JORDAN EU And Jordan Agree Aid Package Of €223Mn For 2011-13 The European Union (EU) will extend to Jordan a financial assistance pa...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
NBK Projects 3% Kuwaiti Growth In 2010
...n-oil sector, with faster growth expected in 2011 and beyond as new government projects gradually come on line, the National Bank of Kuwait (NBK) has said in its latest economic brief. “Data for the first few months of this year support this view of gradual improvement, and we expect the 2010 pace of...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
MENAP Oil Importers’ Recovery Slower Than Average For Developing Countries, IMF Says
...pected to rebound to 4.2% in 2010 and 4.6% in 2011 (the same as the 2008 figure), from 2.3% last year. Dealing with the legacy of the global financial crisis, including the Dubai debt restructuring and recent shocks in Greece, will be the main priority, the report said. Though the effects of Dubai and Gr...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
Design Work For New Bahraini-Saudi Pipeline To Start In 2011
...Middle East Economic Survey VOL. LIII No 23 7-Jun-2010 REGIONAL Design Work For New Bahraini-Saudi Pipeline To Start In 2011 Engineering design for the long-envisaged oil pipeline be...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
CI Downgrades Saudi Hollandi Bank’s Financial Strength Rating
...tios all increased. CI believes that, barring a slowdown in the Saudi economy, SHB has the capacity to repair its asset quality in 2010. While that may involve only a small improvement in net profitability over last year, it could put the bank on a sound footing to resume real growth in net profit in 2011....
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
Growing Concern Over Potential Restructuring Of Dubai Holding Debt
...ip building subsidiary Drydocks World, meanwhile, told Reuters on 31 May that it was in talks with banks to restructure $1.7bn in debt maturing in November 2011. The company was not a part of its parent company’s debt restructuring agreement, and expects talks to be concluded over the next few mo...
Volume: 53Issue: 23Published at Mon, 07 Jun 2010 -
Kayan Signs Loan Agreement, Breaks Islamic Project Finance Records
...tane from Saudi Aramco, with ethane provided at $0.75/mn BTU and the butane price based on an international benchmark, less a discount which has been fixed at 30% until 2011. “The Saudi Arabian government’s policy is to promote development of a primary and secondary domestic petrochemicals in...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
Spain’s Fertiberia To Build A $1bn Ammonia Plant At Arzew
...n funds, while the remaining 70% would be financed by bank loans. Separately, Algeria’s Minister of Energy and Mines Chakib Khelil said the completion of various petrochemical projects under way in Algeria would give it a 5% share of global fertilizer production by 2011, and help to reduce its fo...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
CPC Pipeline Reports First Profits
...rticipation in the Baku-Tbilisi-Ceyhan (BTC) crude oil pipeline. The law opens the way for the Kazakhstan Caspian Transportation System (KCTS), which is to come into operation in 2011 with an initial 500,000 b/d capacity. Batumi Oil Terminal (BOT) shipped 718,800 tons of crude oil and products du...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
Suez Rig Plant Inaugurated
...06). Three drilling rigs are to be manufactured by the end of 2007, and production capacity will expand gradually, according to the work program, for up to seven rigs in 2008, 10 in 2009, 15 in 2010, and 20 in 2011....
Volume: 50Issue: 23Published at Mon, 04 Jun 2007 -
Iranian Cabinet Approves Plan For Kerman Province Petrochemicals Plants
...C) plant at Jiroft; a 300,000 t/y PVC plant at Bardsir; a 600,000 t/y PVC plant at Baft; and a 300,000 t/y polyethylene (PE) plant at Bam. NPC will have a 30% equity stake in the cracker, with the rest to be offered to private investors. The downstream plants are intended to be built during 2011...
Volume: 50Issue: 23Published at Mon, 04 Jun 2007 -
QP Signs MOU To Build Refinery In Tunisia
...e director of refining at the Tunisian Energy Ministry Brahim Lajimi. “Supplying the rest of the oil is QP’s problem,” Mr Lajimi told MEES. The refinery, whose production will be destined for both local and external markets, is due to be completed in 2011. Tunisia’s 34,000 b/d Bizerte refinery is...
Volume: 50Issue: 23Published at Mon, 04 Jun 2007 -
Adco, ADMA-Opco Concessions To Be Renewed On Similar Terms
...arns. Shareholders want to at least start discussions on renewing concessions before committing to ADNOC’s capital intensive upstream expansion plans, which envisage production capacity rising from 2.7mn b/d at the end of this year to 3.5mn b/d in 2011 (MEES, 8 May). Moreover, recent comments by Abu Dh...
Volume: 49Issue: 23Published at Mon, 05 Jun 2006