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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