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Iran’s SWF Could Have $50Bn In Reserves By March 2013
...boosting production and the role of the private sector. Reserves in the fund could even rise to $55bn by March 2013 if oil prices remain robust, President Mahmoud Ahmadinejad said in April. NDF was established in 2011 under Article 84 of the fifth five-year development plan (2011-15) wi...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Maliki Comes Under Renewed Pressure
...ck of rises in southern exports. Back in 2009, northern production made up around 25% of Iraqi exports. But capacity hemorrhages on the key northern Kirkuk field pushed this down (MEES, 27 February), until Kurdish exports restarted in early 2011. These ramped up to 547,000 b/d by June that year. Then th...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Jordan And Enefit Initial Deal For First Shale Oil Power Plant
...4bn ($5.6bn) last year due to the ongoing disruption of Egyptian gas supplies to Jordan since the downfall of the Mubarak regime in January 2011. According to a recent report Jordan is receiving 30mn cfd of Egyptian gas instead of the 300mn cfd needed to fuel the kingdom’s power plants. The Jordanian go...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Sonatrach To Restart Libyan Drilling This Month
...ploration site had been achieved. During previous drilling Sonatrach made two oil discoveries, most recently a May 2010 well which tested at 1,300 b/d. The company had been planning to start a further eight-well drilling campaign in early 2011, when its Libyan operations were interrupted. With no su...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Repsol Sets Out North Africa Plans
...psol plans to drill “more than 16” wells over the three Murzuq Basin blocks between now and 2016. Repsol views the securing of three large exploration blocks offshore the northern coast of Tunisia in July last year as one of its key international upstream events for 2011 (MEES, 11 July 2011...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Diesel Shortage Hits Saudi Arabia
...grades should help ease the problem as they are phased in: Ras Tanura in 2011, Riyadh in third quarter of 2012, Yanbu' by second quarter of 2013 and Jubail by the first quarter of 2013. Al Troner, President of Asia Pacific Consulting tells MEES: “All of these will clean up gasoil yield, not produce mo...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
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 -
Gazprom And DESFA Sign South Stream Agreement (14)
...d feasibility studies on the project’s route will be completed by February 2011, with the final investment decision to be taken within the following 12-18 months. Construction is planned to begin in early 2013 on the underwater section of the pipeline across the Black Sea so that commissioning can be...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010