1. Crude Oil Formulas/Posted Prices

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B)                 2011 2010   Au...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  2. KMG EP Warns Strikes May Force Drop In 2011 Production

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN KMG EP Warns Strikes May Force Drop In 2011 Production KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of KMG, announced on 27 July that continuing strikes by oil workers at the Uz...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  3. BG Chairman Says KPO Dispute to Be Resolved by 2011

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN BG Chairman Says KPO Dispute to Be Resolved by 2011 BG Group Chairman Frank Chapman on 26 July said he expects to see BG’s one and a half year dispute with KazMunaiGaz over its participation in Karachaganak Pe...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  4. SOCAR To Discuss Oil Exports To Slovakia And Czech Republic

    ...r west as Poland, Germany and Central Europe to include Slovakia, the Czech Republic and Hungary. In April 2011 Sarmatia’s CEO, Sergiy Skrypka, announced that an extension of the Odessa-Brody pipeline to the Polish pipeline system in Adamowo could cost around €577mn of which €125mn would come from th...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  5. Vasilikos Repairs Could Reach €2Bn, EU Experts Say

    ...tages caused by the destruction of the plant, the ratings agency reduced its forecasts for Cyprus economic growth to 0% in 2011 and 1% in 2012....

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  6. South Pars to Reach 285Mn CMD By March 2012

    ...the project’s development within the first half of 2011. NIOC’s warning followed CNPC’s decision to inform NIOC that it “has been facing financial problems to provide the $5bn required investment for the project (MEES, 27 June)....

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  7. Hess, Petroceltic Swoop To Take KRG Blocks

    ...8.75mn covers the Bardarash purchase, of which $63mn cover back costs. Afren bought the 20% KRG stake in Ain Sifni for $169.5mn and it “is inclusive of approximately $18mn of back costs and $14mn of 2011 capital expenditure.” Ain Sifni lies in territory in Nineveh province, controlled by Kurdish Pe...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  8. Baghdad Eyes Bumper 2011 Oil Revenues

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 IRAQ Baghdad Eyes Bumper 2011 Oil Revenues Buoyant oil prices and rising crude exports from both South and North look set to deliver a much needed shot in the arm for Iraq’s economy. Revenues for the first half of th...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  9. Kuwait’s Economy Recovers, But Further Reforms Needed, Says IMF

    ...still subject to both internal and external risks. Consequently, IMF directors stressed as part of their 2011 Article IV consultation the need for further institutional, fiscal and financial reforms. “Real GDP growth in 2010 is estimated at 3.3%, comprising oil growth of 3.2% and non-oil gr...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  10. UN Envoy Urges Lebanon, Israel To Move Ahead With Offshore Exploration

    ...rhaps enable them to move forward on other issues.” Meanwhile, the US stated that it will not become involved in the dispute, according to Abu Dhabi’s The National. “The US notes that Lebanon in October 2010 and Israel in July 2011 have submitted to the UN claims to their adjacent exclusive economic zo...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  11. Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 syria Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011 The Syrian government has spent a total of S£117bn ($2.5mn) on subsidizing petroleum products in the first half of the year, the managing director of...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  12. Political Comment (1 August 2011)

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 Political Comment 1 August 2011) Iraqi politicians are expected shortly to end months of dithering and decide whether to ask US troops to stay beyond the end of 2011. Iraq and Kuwait are at loggerheads again – over the bu...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  13. MENA And Carbon Capture

    ...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 MENA And Carbon Capture By Robin M. Mills Mr Mills is a Dubai-based energy economist, and author of Capturing Carbon (Hurst/Columbia University Press, 2011) and The Myth of the Oil Crisis (Praeger, 2008). He can be re...

    Volume: 54
    Issue: 31
    Published at Mon, 01 Aug 2011
  14. FDI Flows Can Boost International Economic Recovery, Says UNCTAD

    ...rld Investment Report 2010. Global FDI inflows declined by 16% in 2008, and fell a further 37% to $1,114bn in 2009, while outflows declined by 43% to $1,101bn. However, the study highlights a promising outlook: flows worldwide are expected to recover slightly in 2010, with a stronger recovery in 2011 an...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  15. Barclays Capital Sees WTI Averaging $92/B In 2011

    ...Middle East Economic Survey VOL. LIII No 31   2-Aug-2010 Barclays Capital Sees WTI Averaging $92/B In 2011 “The oil market is currently in a state of disequilibrium,” Barclays Capital stated in...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  16. Petroceltic Contracts Dalma For Drilling On Isarene

    ...troceltic said that data from the results of the earlier drilling campaign suggests that Ain Tsila may be a “world class hydrocarbon resource.” The company plans to present a development plan to the Algerian authorities at the end of the appraisal program, in the first half of 2011. In March, the company ra...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  17. Cyprus To Get Third Wind Farm

    ...e other also in the Larnaca district. The project is scheduled to be complete by the third quarter of 2011 and its expected advantages include the reduction of 23,220 tons of carbon dioxide relative to the amount of diesel fuel needed to generate the same amount of energy. The Cyprus Ministry of Co...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  18. CBI Statistics Show Fall In Oil And Gas Export Revenue In 2009

    ...yments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1388 (2009-10) 3.491 1389 (2010-11) 8.437 1390 (2011-12) 2.346 1391 (2012-13) 2.026 1392 (2013-14) onwards 5.848 The decline in oil re...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  19. Oman’s First Ferrochrome Smelter To Be Completed By End-2011

    ...rbon ferrochrome smelter into production by the end of 2011. The 75,000 tons/year plant will be built at Sohar, and is expected to cost $70mn. Al Tamman Indisil Ferrochrome, a 50:50 joint venture between Al Tamman Trading Establishment, a wholly-owned subsidiary of Muscat Overseas Group, and Kerala-ba...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010
  20. Saudi Kayan Seeks Extra $2.4Bn As Capex On Petrochemical Project Rises

    ...trochemical and chemical products. The company said that it has started trial production at its olefins complex, and plans to start full commercial operations at 15 of its 16 processing units before the end of 2011. When Kayan signed its loan agreement in 2008 (MEES, 9 June 2008) construction was ongoing and SA...

    Volume: 53
    Issue: 31
    Published at Mon, 02 Aug 2010