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China Crisis Would Threaten Saudi Economy
...udi GDP undershooting by 0.3-0.4% one year hence, according to the IMF’s findings. The IMF itself was predicting 8.1% 2013 GDP growth for China – and 8.3% for 2014 – as recently as its April World Economic outlook; by the time of the 9 July update these figures had been slashed to 7.8% and 7.7% re...
Volume: 56Issue: 29Published at Fri, 19 Jul 2013 -
New US Sanctions Hit Iran, Upstream Sector Already Stressed
...e project, tells MEES that when Pakistan invited contractors to bid for EPC work it told them to provide the finance themselves. “There isn’t that kind of money available in Pakistan and sanctions aren’t helping, so it won’t be completed in 2014,” he says. MEES learns that Iranian engineers – kn...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Apache Takes Long Term View On Egypt
...12 and 2013 (from 165,000 boe/d for 2011). Output is slated to rebound strongly in 2014 and 2015 boosted by a hike in Apache’s Western Desert gas output with the start of production from the Hydra field and (in 2014) a major compression project at Apache’s key Qasr field. Delayed permit approvals ha...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
TransGlobe Completes South Alamein Purchase, Looks To Bid Round Awards
...rther “drillable exploration prospects” on the concession, based on 3-D seismic. The block’s exploration phase has entered its final two-year extension and expires in April 2014. The South Alamein and South Mariut purchases, together with TransGlobe’s 50% of the nearby East Ghazalat concession, ha...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Jordan Outlines Guidelines For National Energy Strategy
...e first half of 2014 at the Red Sea port of 'Aqaba and to modernize the oil terminal at the port. Mr Batayna went on to say that with the erratic supply of Egyptian gas to Jordan via the Arab Gas Pipeline, the government has decided to lease a vessel to store LNG for use by power ge...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Iraqi Gas And Power Emerges As Critical Sector
...pital investment to kick-start the economy. Capital expenditure will grow to 40% of the budget in 2014 and 50% the following year, compared to 2011’s 31%, Mr Abadi predicts. However, any economic development will not work without electricity, the lack of which currently costs the Iraqi economy an es...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iraq Needs To Triple Power Capacity To Meet Short Term Demand Growth
...soil then dry gas from Badra and Mansuria fields Taji 4x40 2011 40mn cfd Dry gas from NGC Akkaz 2x125 4x30 2014 105mn cfd Dry gas from Akkaz field Ba...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Consortium Signs Agreement To Build Sur, Oman’s Largest IPP
...hwan Engineering Group company) signed an agreement on 13 July with Oman Power and Water Procurement Company (OPWP) to build the Sur independent power project (IPP). At 2.0gw when fully commissioned in 2014, it will be the sultanate’s largest IPP. The $1.5bn project attracted strong interest and in Ju...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Qatar’s $5Bn Barzan Project Financing Progresses
...pend on how competitive it is with the other sources of funding being tapped (MEES, 25 April). Barzan was originally planned for 2012 start‐up, but that date was put back to 2014. Barzan is a two‐train project and will initially produce 1.5bn cfd, although it can be expanded if needed. When in...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
UAE Hopes For $100Bn In Sustainable Energy Investment
...at it will invest $290mn via the DB Masdar Clean Tech Fund – founded with Deutsche Bank - in green projects around the world by 2014. It did not give details of specific projects, but said it had invested the fund’s first $60mn in China. “We are making a second investment this week. It could be be...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Industry Questions Absence Of Major In Abu Dhabi’s Shah Gas Project
...train (MEES, 17 May). The plant will supply around 540mn cfd of gas into the UAE grid, with the bulk of the waste gas being toxic and corrosive hydrogen sulfide, by the third quarter of 2014. “The project can only be operated safely in a partnership with a major,” a UAE source told MEES. The te...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Construction Begins On Ras Al-Zour Aluminum Smelter
...uor and WorleyParsons were sent a letter of intent for engineering, procurement and construction management (EPCM) services for the bauxite mine and alumina refinery, which will have initial capacities of 4mn t/y and 1.8mn t/y, respectively, and will come online by December 2014. Fluor was meanwhile se...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Nabucco Partners Sign Intergovernmental Agreement
...ll as Turkey apparently softening its stance on Nabucco, the 31 bcm/year pipeline project that is scheduled to start in 2014 received a significant boost with the surprise offer by Iraq’s Prime Minister Nuri al-Maliki at the signing ceremony to supply it with 15 bcm/year of gas. However, it re...
Volume: 52Issue: 29Published at Mon, 20 Jul 2009 -
Saudi Electricity Company Receives Technical Bids For IPP Program
...ant will produce 2,000mw, cost SR8bn ($2.1bn) and start in 2013; and the Qurayah plant will produce 2,000mw, cost SR8bn and start up in 2014. ...
Volume: 50Issue: 29Published at Mon, 16 Jul 2007 -
BMA To Launch $106Mn Dinar-Denominated Ijara Sukuk
...ture on 20 July 2014. It will give a return of 5.125%, to be paid twice a year, on 20 January and 20 July. The BMA is receiving subscriptions for the sukuk from 11 July until 18 July with the minimum subscription set at BD10,000 ($26,525). Subscription is open to all commercial banks and na...
Volume: 47Issue: 29Published at Mon, 19 Jul 2004