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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 -
WTI Crude Price Moves Above $75/B After IEA Forecast Boost, China Export Data
...d through 2011, we expect investor flows, on balance, to be moderately bullish, as oil and other commodities provide exposure to growth in emerging markets and also provide a hedge against expected medium term inflationary pressures.” In its Weekly Petroleum Status Report, released on 9 June, the EI...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
EIA Trims 2010 Demand Growth Forecast To 1.5Mn B/D, 2011 Remains at 1.6Mn B/D
...Middle East Economic Survey VOL. LIII No 24 14-Jun-2010 EIA Trims 2010 Demand Growth Forecast To 1.5Mn B/D, 2011 Remains at 1.6Mn B/D The Energy Information Administration (EIA) of the US De...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
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 -
Putin Questions Viability Of Blue Stream Expansion (14)
...ansportation System (KCTS). The feasibility study is to be completed by mid-August 2011. Phase 1 of KCTS envisages the delivery of up to 450,000 b/d of oil across the Caspian Sea in tankers for onward delivery via the Baku-Tbilisi-Ceyhan pipeline, beginning in 2013 (MEES, 7 June). Kazakh state firm Ka...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Aegean And Groundstar Revise West Kom Ombo Farm-In Terms (15)
...quired over a large part of the block. The Greek company had initially committed to drill two wells by September 2011 (MEES, 17 May). The additional wells will help evaluate the potential of the block beyond what the current exploration phase would allow, and increase the chance of commercial discovery on...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Dubai To Offset Abu Dhabi-Led UAE Growth, Samba Says
...Middle East Economic Survey VOL. LIII No 24 14-Jun-2010 UAE Dubai To Offset Abu Dhabi-Led UAE Growth, Samba Says Growth prospects in the UAE for 2010 and 2011 are mixed, Samba Financial Gr...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010 -
Citigroup Says Dubai GDP Growth Spurred By Non-Real-Estate Sector
...4.7% in 2011 to Dh266bn ($72bn), on the back of the global and regional economic recovery and competitive advantages in its non-real-estate sector, Citigroup said in its latest Macro View Report. By 2012, GDP is expected to grow by 6.3% to Dh282.8bnn ($77bn), but while its growth dynamics remain ro...
Volume: 53Issue: 24Published at Mon, 14 Jun 2010