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Cyprus Considering Building LNG Plant On Its Own
...place a 15mn tons/year LNG facility in Cyprus (MEES, 9 May 2011, 17 January 2011) In an interview with MEES last month, Cypriot Minister of Commerce, Industry and Tourism, Neoclis Sylikiotis, whose ministry oversees the Energy Department, said the government was in consultation with No...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Egypt Launches Offshore Bidding, Onshore Round Attracts Interest
...terest. Shell spent 10 years exploring the NEMED block but came to the conclusion that it could not develop the area commercially after failing to reach agreement with the Egyptian General Petroleum Corporation (EGPC) on its plans to exploit gas discovered using floating LNG production. EGPC 2011...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
KNOC Reports Increased Iranian Oil Imports For April
...though quarterly data suggest Korea is falling in line with the US/EU boycott on imports from Iran. During 1Q12 South Korea’s Iranian imports averaged 177,000 b/d, a reduction of 22.3% compared to 1Q11. South Korea met around 12% of its oil demand through Iranian imports in 2011. ...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Jordan’s Austerity Drive Raises Petroleum And Electricity Prices
...ether such adjustments will take place regularly (MEES, 17 October 2011). Meanwhile, the Electricity Regulatory Commission has unveiled new electricity rates carrying an average of a 12% increase on selected sectors. But the new rates exempt citizens, traders, farmers, hospitals, government in...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Saudi Aramco Steps On The Gas
...UDI ARABIA Saudi Aramco Steps On The Gas Gas production operated by Saudi Aramco increased sharply last year, and major new projects are set to come online, the Saudi state company’s 2011 Annual Review revealed. Average 2011 gas output was 9.88bn cfd, but by year-end Saudi Aramco had ma...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
IMF Estimates Saudi Real GDP Growth At 7.1% In 2011
...UDI ARABIA IMF Estimates Saudi Real GDP Growth At 7.1% In 2011 Saudi Arabia’s overall real GDP is estimated to have grown by 7.1% in 2011, with 8% growth in the non-oil sector – the highest since 1981 – and private sector growth at 8.5%, according to a statement issued on 29 May by the IM...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Sudan Looking To Scrap Fuel Subsidies
...rprise in a country which has been struggling financially since losing nearly 75% of its oil revenues to the South when it became independent from Sudan in July 2011. This is not the first time such plans have been considered however, after parliament rejected a Central Bank of Sudan plan to end fuel su...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Topaz Refinancing Paves Way For Offshore Support Vessel Investment
...arters in 2011. Its fleet has an average age of 6.5 years compared to the industry’s 13-year average. Renaissance’s Chief Financial Officer Vishal Goenka, said “we are pleased with the support our banking partners have shown in times of difficult economic conditions globally.” He is encouraged by...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Yemen In New Push To Repair Key Oil Pipeline
...men Yemen In New Push To Repair Key Oil Pipeline Yemen’s government has launched a new campaign to work together with the tribes in the volatile Marib region towards repairing the key Marib-Ras Issa pipeline that has been closed since being attacked three times in quick succession in October 2011...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
South Stream Questions Third Party Access Obligation
...ead within its original timetable and expected the final feasibility study for the entire pipeline system to be completed by the end of 2011. Mr Kramer said that South Stream does not increase the dependence of EU importing states on Russia, but primarily diversifies their import routes, even th...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Energy Ministry to Issue Bonds, Plans Third Interconnector to Armenia
...Middle East Economic Survey VOL. LIV No 23 6-Jun-2011 IRAN Energy Ministry to Issue Bonds, Plans Third Interconnector to Armenia Iran’s Minister of Energy Majid Namjou told IRNA on 29 May that his ministry will issue over the current Iranian year (21 March 2011 – 20 March 20...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Jordan Announces Price Cuts For Some Petroleum Products
...test price list will apply until 28 June. Product Prices Effective 1 June 2011 (Fils/Liter, Unless Otherwise Stated) 2011 2010 Product 1 Jun 2 May 1 Apr 4 Mar 28...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Oman Reveals Plan To Spend Up To $15Bn On Infrastructure And Projects By 2020
...clining mature oil fields (MEES, 30 May). “The company’s ambitious plans for 2011-15 call for extensive 3D seismic data acquisition, continued search for completely new geological opportunities, as well as the drilling and testing of approximately 140 exploration and appraisal wells,” the report said. ...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Qatar To Spend $4Bn On New Infrastructure Projects
...ve a three-year maturity and 5% yield, with QR33bn ($9.1bn) going to conventional banks and QR17bn ($4.7bn) to Islamic banks (MEES, 24 January). Shaikh Hamad stated that Qatar has achieved a record real growth rate of 16% in 2010 and is expected to raise this growth rate to 20% in 2011. He also sa...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Qatar’s Power Capacity Reaches 9GW As Ras Girtas Plant Inaugurated
...ying on 31 May. Qatar had raised its power capacity to more than 8.7gw by the start of 2011, from 4.263gw at the end of the second quarter of 2008 (MEES, 27 September 2010). The Ras Girtas power plant project has reached its design capacity of 2.73gw of electricity and 63mn g/d of potable wa...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Gulf Petrochemicals Expected To Reach 20% Share Of Global Market, Says GPCA
...id the Gulf Petrochemical and Chemical Association (GPCA) on 31 May. The Gulf petrochemical and chemical industry is on firmer footing in 2011 after the harsh economic downturn of 2008 and 2009, according to GPCA. It is seeing higher demand and prices and generating excellent financial results. “Th...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
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 -
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