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DEWA Doubles Size Of Planned Coal-Fired Power Plant
...rlier forecast: “I expect 5% of growth [in 2011], but then it could be 7%. The peak demand (growth) last year we thought would be 6% and then it came to 9.6%.” Dubai expects to have nearly 10gw of power production capacity by the end of 2011. In May DEWA selected McKinsey & Company as a consultant fo...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Political Comment (27 June 2011)
...Middle East Economic Survey VOL. LIV No 26 27-Jun-2011 Political Comment (27 June 2011) Syrian President Bashar al-Asad has again promised reforms, but has failed to appease his domestic and international critics. The head of the Arab League thinks it is time for a cease-fire in...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
One Hundred Days In The Iraqi Oil Industry
...st 100 days (ending 1 June 2011) as compared to previous rates. A 19% increase in the export rates of Iraq. This article includes analysis of actual production figures from the southern fields comprising over 75% of the country’s production and export. The figures for the 100 da...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
BP Aims For First Omani Tight Gas In September
...gas from the tests wells by the first quarter of 2011, ramping it up in phases to full scale production of 1bn cfd by 2013-14. However, BP decided that it was more economic to use an existing, smaller gas processing plant to keep within the $650mn it had budgeted for the appraisal stage of the pr...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
Oxy’s Oman EOR Project Costs Soar To $9Bn
...$9bn from the $2bn it said it would cost when it wrested Block 53 from Shell-led, state-controlled Petroleum Development Oman (PDO), Oman’s biggest producer, in 2005. Oxy’s original plan was to raise oil production to 150,000 b/d in 2011 from the 10,000 b/d the field was producing when the co...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
IEA Medium Term Forecast Sees Demand Growing By 1.2Mn B/D Annually To 2015
...0,000 b/d (1%), taking global demand to 90mn b/d by 2015, with the reattainment of 2007 demand levels deferred to 2011. The report said that in both cases non-OECD countries will drive global oil demand growth, while consumption will decline in the OECD. Under the base case, the report said, non-OECD oil demand is...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
CGES Says Crude Prices Rebound Reflects New Optimism Over US Economy
...10 2011 World Oil Demand 86.3 85.8 86.4 87.4 87.7 87.7 84.9 86.5 87.9 Non-OPEC Supply 51.8 51.5 51.3 52.1 51.8 51.8 51.1 51.7 51.7 OPEC NGLs 5.1 5.3 5....
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
Gazprom And Eni Finalize Deal For EDF To Join South Stream, Consider Routing Options
...e final investment decision can be taken in the first quarter of 2011. Mr Miller said that the South Stream partners are confident that the full 63 bcm/year capacity of the $25bn pipeline will be taken up, since its design capacity “is based on long term contracts for gas supplies to European co...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
Arab Economies To Grow By 4% This Year, AMF Chief Says
...d some exports to be affected to a small degree. The AMF forecast was very much in line with that of World Bank Finance Director Mansour Dellami, who on 21 June said the Arab world would see 4% average growth in 2010, and 4.3% growth in 2011, compared to a 6% average for developing economies and 2....
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
EIB Launches Mediterranean Carbon Fund
...velopment Agency (AFD). The fund, expected to be set up in 2011, will use carbon credits generated under the Clean Development Mechanism (CDM). “Its size will be based on an evaluation of the volume of carbon credits potentially generated by projects under the CDM and could be delivered by 2020 in the re...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
Trowers & Hamlins Files $720Mn Forex Claim Against AHAB
...ternational banks with debt exposures totaling $15-22bn. Trowers & Hamlins recently filed cases with Saudi Arabia’s Negotiable Instruments Committee (NIC) against Saad Trading, a division of Saad Group, for $11mn, as well as against Abdulaziz al-Sanea for $54mn, with hearing dates set for early 2011....
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
UAE Banking Sector Capitalization Makes Challenges Manageable, Says Fitch
...ported by some banks, says Fitch. As loan books stagnate in 2010 and possibly into 2011, the ratio will increase for all banks as problems assets work their way through the banking system, maintains the report. Loan loss reserve coverage also declined for the nine largest banks to 97% from 148% at en...
Volume: 53Issue: 26Published at Mon, 28 Jun 2010 -
Verenex Energy’s Row With Libya’s NOC Blows Open
...nse. Nevertheless, Verenex’s Libyan acreage has considerable potential. The proposed development plan that the company submitted to NOC in November last year envisages bringing the discoveries made there on-stream by 2011 at an initial rate of 50,000 b/d of oil and 50mn cfd of gas. Separately, the co...
Volume: 52Issue: 26Published at Mon, 29 Jun 2009 -
JGC Wins Management Contract For PETRORabigh Expansion
...cludes front end engineering for utilities and offsites, in addition to project managing the feasibility study for the expansion, MEES understands (MEES, 13 April). The study is to be completed by the third quarter of next year, and if the project gets the green light, construction should begin in 2011...
Volume: 52Issue: 26Published at Mon, 29 Jun 2009 -
Syria’s 'Alaw Says Five IOCs Were Close To Signing PSCs Last Year
...000 b/d of condensate, is scheduled to start up in the first quarter of 2010. Finally the Jihar Gas Project, which will have a capacity of 4mn cmd of gas, 180 t/d of LPG and 1,800 b/d of condensate, is due for completion in 2011. Syrian gas production is now averaging 21.6mn cmd, according to recent fi...
Volume: 52Issue: 26Published at Mon, 29 Jun 2009 -
Saudi Aramco Details Upstream Progress, Riyadh Updates On Security
...09; 1.2mn b/d of Arab Light from Khurais due by June 2009; and the 900,000 b/d offshore Manifa project due in September 2011. Khursaniyah “will come on-stream in August [2008],” Mr Nasser said. “We are hoping for the end of July, but even with this slight delay, for Khursaniyah we had put in a ve...
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
Costs Climb At Citadel’s Musturud Refinery
...ich is 85% owned by Citadel and 15% owned by EGPC, will start up in 2011 producing 2.2mn tons/year of diesel and 1.5mn t/y of light products, of which 700,000 t/y are gasoline blend stocks....
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
Syrian Processed Gas Output To Rise To 28Mn CMD By 2010
...har Gas Project: The project will produce 3.7mn cmd of processed gas, 180 tons/day of LPG and 1,800 b/d of condensate from the Jihar and al-Mahr fields. The project is being undertaken for Hayan Petroleum Company by Petrofac, under a contact awarded in March 2008, and is due for completion in 2011 (ME...
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
KNPC Launches Revised Tender For Fourth Refinery
...5,000 b/d refinery at al-Zour in the south of the country. Bidders have until 3 July to submit an expression of interest, with KNPC expecting to make an award in the fourth quarter with the intention of achieving completion and start-up in 2011. The move follows the failure of a first tender launched in 20...
Volume: 50Issue: 26Published at Mon, 25 Jun 2007 -
EU Studying Trans-Caspian Gas Pipeline Options
...ter this year. The project was inaugurated in July 2005 and has received financial backing from the European Investment Bank (MEES, 13 February, 11 July 2005). The pipeline is to be extended across northern Greece and the Adriatic to southern Italy for delivery of Shah Deniz gas by around 2011. Th...
Volume: 49Issue: 26Published at Mon, 26 Jun 2006