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Gulf States Finalize Rescue Package For Egypt
...tar, the key foreign financial backer of the Mursi regime, has been notable by its absence (see table). Regional Aid To Egypt Since 2011 Revolution ($Bn)* Mursi Rule (2012-13) 14.75 Qatar 8 Sa...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Syria Crisis Drags Down Whole Levant Economy
...e influx of the Syrian refugees, but the balance of trade was in deficit to the tune of 30-40% of GDP, as a result of the Syrian crisis which slowed down transit trade across Syria. With regard to tourism, the number of incoming tourists fell by 24% between 2010 and 2011, by 18% between 2011...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Iran Slashes Rial’s Official Value In Bid To Unify Exchange Rates
...we include gold reserves,” adding that this “is a gift form the current administration to the next administrations.” IMF figures put Iran’s reserves at $101bn as of the end of 2011 but projected that they had dipped to $89bn by the end of 2012 (see graph). Iran’s Exchange Ra...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Benchmark Crude Prices
...12 2011 WTI 104.91 100.64 95.92 95.79 94.75 94.17 94.42 94.18 95...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
Iran Retaliates Against Tightening Sanctions By Threatening To Block Hormuz
...ude oil exports in 2011 were approximately 2.5mn b/d and have dropped to roughly 1.5mn b/d, which in real terms means almost $8bn in lost revenues every quarter. On 11 June Washington granted exemptions to India, South Korea, Turkey, Taiwan, South Africa, Sri Lanka and Malaysia for 180 days (MEES, 18 Ju...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Libya’s Exploration Record Offers Challenge For New Government
...ological and geophysical study" (2011 annual report). Pertamina's Libyan assets were evaluated as part of a 2011 company-wide audit. CNPC Area 17 (Block 4), offshore (Sabratah Basin). 28.5 6....
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
OPEC Output Remains Firm Amidst Price Turbulence
...allenge April’s highs, according to the latest data from tanker tracker Oil Movements. The UAE’s Upper Zakum field, where output fell by around 100,000 b/d in May, should come back fully in July, sources say. And Saudi Arabia continues to pump strongly. OPEC Crude Oil Production June 2011 – Ju...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Japan’s Crude Imports Fall 9.13% In May To 3.572Mn B/D
...erage of 3.930mn b/d, but year-on-year it is 16.04% above the May 2011 import figure of 3.078mn b/d. Imports from the Middle East averaged 2.929mn b/d in May, down by 10.36% from the April average of 3.268mn b/d, but 10% above the May 2011 average of 2.662mn b/d. Saudi Arabia continues to be Japan’s ma...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Saudi Crude Price Adjustments Mixed For August
..., 40 days after B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2012 2011 Aug Ju...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Saudi LPG Prices Reduced For July Contracts
...opane Butane 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 2012 1 Ja...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Crude Oil Formulas/Posted Prices ($/B)
...L PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Oman ($/B) 2012 2011 Aug Jul Jun Ma...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Absheron Discovery Declared Commercial
...scovery, announced in September 2011, on the Absheron X-2 well. The company said the well was drilled in 474ms of water to a depth of 6,874ms. One of the hydrocarbon bearing intervals tested at 960,000 cmd of non-associated gas and 2,500 b/d of 42.5° API condensate. “The well results indicate gas resources of...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
ENAP’s Egyptian Growth Boosted By Long-Delayed Bidding Award
...r the Sudr block. The 63 sq km block, on the Sinai coast of the Gulf of Suez, was one of seven offered in the late 2010 bidding round of General Petroleum Company (GPC, the upstream arm of state firm Egyptian General Petroleum Corporation), the award of which was delayed by 2011’s political up...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Former Petroleum Minister Imprisoned For 15 Years Over Israeli Gas Deal
...about $4.50/mn BTU. Mr Fahmy served as minister under Mr Mubarak, who was recently sentenced to life in prison for his role in the deaths of protestors during the days of the revolution in January-February 2011. Mr Fahmy’s involvement in the affair remains unclear. When first arrested in...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Noble Brings Gas From Small Offshore Fields To Israeli Market
...sources will expire by the end of the year. The gas from the two fields will enable Israel to reduce its purchases of diesel and fuel oil for power generation perhaps for the rest of the year. The halt in shipments of natural gas from Egypt during lengthy periods in 2011 and 2012 resulted in Israel having to...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Kuwait Trade Surplus Jumps On Oil Price Climb
...,797 2011 26,689 158 853 302 555 1,867 28,556 6,972 21...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Oman’s Majlis Al-Shura Uses News Powers, Questions PDO
...creased since Sultan Qabus bin Sa'id gave it new powers, following the ‘Arab Spring’ protests. The popular ruler skillfully handled the first wave of unrest in early 2011. He fired corrupt and unpopular officials, promised to create 50,000 jobs and expanded the role of Oman’s elected consultative body, wh...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Qatar To Issue Sovereign Sukuk
...gion (MEES, 5 December 2011). Its last sukuk issue was 10 years ago. Bookrunners on the sukuk will comprise HSBC, Deutsche Bank, Standard Chartered, and domestic financiers Barwa Bank and QInvest. ...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Saudi Economy To Get A Boost From Mortgage Law Approval
...udis. The Saudi authorities are tackling the problem through a combination of building more affordable housing in addition to expanding financing options. They want to raise home ownership from the current rate of less than 60% to 80% by 2024 (MEES, 28 March 2011). “Widening home ownership has broader ec...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Marib Pipeline To Resume Pumping After Nine-Month Closure
...work with the tribes in the volatile Marib region to repair the pipeline that has been closed since October 2011 (MEES, 4 June). “If the situation will be OK after the completion of the repairs, the first cargo will arrive at the refinery in Aden by the end of the month,” the ministry sa...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012