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Japanese Crude Oil Imports Down To 3.567Mn B/D In April
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 Japanese Crude Oil Imports Down To 3.567Mn B/D In April Japanese crude oil imports averaged 3.567mn b/d in April 2011, down by 5.7% from 3.783mn b/d in March, according to monthly import data released by Japan’s Ministry of Ec...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Crude Prices Raised For Europe, Differentials Narrowed For US And Asia
...NOC plus $0.40/B earlier in the month. The formulas for July 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as fo...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 May Apr Mar Feb Jan Dec Nov Oct Se...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Nabucco Legal Framework Agreed As Southern Corridor Race Heats Up
...rried about the availability of gas supplies to fill the 31 bcm/year capacity project and was certain that the first gas contract would be in place by the end of 2011. He also dismissed reports of a steep increase in projected Nabucco costs as “speculations”. EU Energy Commissioner Gunther Oettinger st...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Socar Considering Bid In DEPA Privatization Tender
...blic Gas Company (DEPA). On 9 June the Greek government confirmed that it planned to sell all of its shares in DEPA as well as one-third of its shares in DESFA, the Greek transmission system operator, by the end of 2011. This represents a significant shift in government policy, since two months ea...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Cabinet Approves 2011-12 Egyptian Draft Budget
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 EGYPT Cabinet Approves 2011-12 Egyptian Draft Budget The Egyptian cabinet on 1 June approved the draft budget for fiscal 2011-12, which forecasts total expenditure of E£515.5bn ($86.8bn at $1=E£5.94), total revenue of E£35...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
NIOPDC Fills Oil Products Tanks At Power Plants
...ring the first half of the current Iranian calendar year” (21 March 2011 – 20 March 2012). Gasoil and fuel oil are used to generate some 17% of Iranian electric power, with gas-fired plants providing the bulk of the remainder. Iran’s power generation capacity is estimated at 49gw....
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Iran And Turkmenistan Start Production In Gonbadli Gas Field
...pecially after the completion of the 1,204km, 50mn cmd capacity Dauletabad-Sarakhs-Khangiran gas pipeline, the largest importer of Turkmen gas. Iran expects to import 12-13bn cu ms of Turkmen gas in 2011....
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Arabia Grants Jordan $400Mn
...e projected Arab and foreign aid of some JD440mn ($620mn) in the 2011 state budget, will help in the implementation of several projects included in the budget and in dealing with fiscal challenges. He went on to say that Jordan had not yet received the larger part of the projected aid for the cu...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Aid Pledged To Libyan Rebels
...cause they are controlled by the Qadhafi regime. Contracts already signed can get an exemption until 15 July 2011, but this does not apply to oil, gas and refined products Swiss authorities said on 8 June that they had reclaimed money they had agreed to pay one of Col Qadhafi’s sons to secure the re...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Shell Prepares First Qatari GTL Gasoil Shipment
...oduced from Pearl GTL for that plant, MEES understands. Meanwhile, Qatar will increase shipments of LPG to about 11mn tons/year in 2011 from 8.5mn t/y in 2010, Tasweeq CEO Sa'd al-Kuwari said recently. He added: “Qatar will become the largest condensate exporter in the Middle East this year. Co...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Aramco Accelerates 900,000 b/d Manifa Offshore Project
...ows. As a result 500,000 b/d of Arab Heavy will now come on stream in 2013, with the remaining 400,000 b/d due the following year. Initially scheduled for 2011 start-up, last year’s annual review reported a 2013 start-up at 500,000 b/d, with plateau output of 900,000 b/d not to be reached until 20...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
IMF Says Saudi Real GDP Growth Rose To 4.1% In 2010
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 SAUDI ARABIA IMF Says Saudi Real GDP Growth Rose To 4.1% In 2010 The Saudi economy has strengthened in 2010 and early 2011, “driven by a strong increase in non-oil GDP reflecting a rebound in the private sector supported by...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Methanol Chemicals Company Agrees $222Mn Refinancing Deal
...mpany announced on 5 June on the Saudi bourse’s website. The Murabaha refinancing facility, which ends on 15 December 2017, was signed by SABB, Riyad Bank and Samba. It includes restructuring of a SR326mn ($87mn) cost overrun facility agreement dated 27 October 2009 and due on 18 November 2011, as we...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Al-Rashid Petroleum Spuds New Appraisal Well
...the end of 2011 (MEES, 30 May, 16 May). ...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Tunisia’s Economic Growth Rate Declines By 3.3% In 1Q11
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 tunisia Tunisia’s Economic Growth Rate Declines By 3.3% In 1Q11 Tunisia’s economic growth rate fell by 3.3% at constant prices in the first quarter of 2011, compared to the same period of 2010, according to data released by...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Political Comment (13 June 2011)
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 Political Comment (13 June 2011) The violence in Syria has crossed what looks like a new threshold with the death of 120 security force members. Yemenis are waiting to see whether President Salih will return after flying to...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Financing MENA Energy Investment In A Time Of Turmoil
...ICORP’s Economic Commentary dated June-July 2011. The views expressed are those of the author only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com In the last Commentary from April, published in MEES’s Energy & Geopolitical Risk, we examined the extent unfolding events within ME...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
IEA Sounds Alarm Over $557Bn Energy Subsidy Spend
...at lower subsidies would depress local demand growth, which would make more oil available for export, which in turn means more revenues,” Dr Birol said. Phasing out subsidies in 2011-20, as agreed last year by the G20, would cut primary global energy demand by 5.8% by 2020 and shave 6.5mn b/d off 20...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
OPEC Sees Market Riven With Uncertainties, Output Held Steady In May
...water, in the wake of the oil spill at the BP-operated Macondo well. “The announced drilling ban of 27 May 2010 has changed the picture of the forecast, with expectations of stronger effect on 2011 supply than 2010,” the report said. Washington’s regulatory response to the Macondo spill is se...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010