1. Construction Of Third Turkmen-Chinese Gas Pipeline To Begin In September

    ...eratorship and timetable of the project, Chinese state firm CNPC is expected to build, finance and operate the pipeline. Shipments of Turkmen gas began in December 2009, with volumes set to reach 45 bcm/y by the end of 2012, an increase of 45% from 2011.  ...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  2. Egypt’s International Reserves Edge Higher, CPI Down

    ...YPT   Egypt’s International Reserves Edge Higher, CPI Down After tumbling markedly in 2011 and the early part of this year, Egypt’s net international reserves started to edge higher in the second quarter, according to Central Bank of Egypt (CBE) data. The most recent data shows this trend co...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  3. Iranian Court Sentences Four To Death In $2.6Bn Fraud Case

    ...AN   Iranian Court Sentences Four To Death In $2.6Bn Fraud Case An Iranian court has sentenced four defendants to death for their involvement in the $2.6bn embezzlement case discovered in September 2011, judiciary spokesman Gholamhossein Mohseni-Ejeihi announced on 30 July. The embezzlement case, co...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  4. Kuwaiti Tanker Fleet Set For Nine-Vessel Expansion In 2014-15

    ...14, saw the delivery of two more VLCCs in June and October 2011, and two products tankers in February and April 2012.   The fourth and last stage of KOTC’s fleet expansion, Mr Khashti said, will take place between 2014 and 2018 and should see the purchase of five additional double-hulled 50...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  5. Qatar Petroleum To Issue $1.28Bn ‘Samurai’ Bond

    ...sued a $650mn five-year US dollar-denominated Eurobond, although the state of Qatar recently raised $4bn when it priced a sovereign sukuk (MEES, 16 July). Also, Qatari companies such as LNG producer RasGas have tapped international debt markets. QP’s 2006 bond was for $650mn with a maturity date of 30 May 2011...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  6. Saipem Wins $250Mn Contract Amid Regional Drilling Boom

    ...5 2011 55 12 67 253 39 291 2012 Q1 59 16 75 26...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  7. Yemen’s Aden Refinery Receives First Marib Crude Since October 2011

    ...men   Yemen’s Aden Refinery Receives First Marib Crude Since October 2011 The 150,000 b/d refinery in Yemen’s port city of Aden received its first consignment of Marib crude in around nine months on 28 July, following the restart of operations at the country’s Marib-Ras Issa pipeline last month (ME...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  8. Iran: The Rial Saga

    ...e rial, has been added to the Islamic Republic’s other thorny and protracted economic woes. After nearly a decade of relative stability in both the official and free market, the rial experienced a precipitous plunge in late December 2011, and subsequently lost nearly half of its value within a short ti...

    Volume: 55
    Issue: 32
    Published at Mon, 06 Aug 2012
  9. Kuwait Ministry Probe Into Shell Deal Secures Passage Of Record Budget

    ...scal year 2011-12, which started last April, was passed at the end of June. It includes an increase of 19% in spending from last year. Oil revenue for 2011-12 is set at KD12.31bn ($44.93bn) up from KD8.62bn ($31.57bn) in 2010-11. Its passage triggered demands by some members of parliament to look in...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  10. FDI Flows Drop Despite Economic Recovery, Says UNCTAD

    ...ile global industrial output and world trade are already back to their pre-crisis levels, according to the United Nations Conference on Trade and Development (UNCTAD). In its World Investment Report 2011, UNCTAD estimates that global FDI will recover to its pre-crisis level in 2011, increasing to $1....

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  11. Japanese Crude Oil Imports Slide Again In June To 3.046Mn B/D

    ...be the top crude supplier to Japan, with shipments of 919,555 b/d during June, down from 1.025mn b/d in May. Crude imports from the UAE rose during June to 894,078 b/d, compared to 794,917 b/d in May. Japanese Crude Oil Imports, June 2011 (B/D) Source June 2011 Ma...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  12. Saudi Crude Prices Mainly Raised For September Deliveries

    ...nus $0.25/B in late July compared to ADNOC minus $0.50/B in late June. Qatar Marine sold at QP minus $0.20/B at the end of last month, compared to QP minus $0.55/B at the end of June. The formulas for September 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  13. Saudi LPG Prices Raised For August

    ...0.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 505.00 1 Feb 735.00 735.00 1 Feb 820.00 810.00 1 Mar 470.00 45...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  14. Crude Oil Formulas/Posted Prices

    ...Middle East Economic Survey VOL. LIV No 32 8-Aug-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B)         2011 2010 Jul Jun May Apr Mar Feb Jan Dec No...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  15. IFC Approves $250Mn Investment Package For OCI

    ...ypt and the wider region. EFC aims to increase its production significantly by 2012. IFC invested $1.5bn in the Middle East and North Africa in the 2011 fiscal year. It also helped mobilize funds from other international financial institutions (MEES, 13 June). IFC expects to continue to increase it...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  16. IRGC General Approved By Majlis As Iran’s New Petroleum Minister

    ...rd to win over a bureaucracy that is extremely cautious regarding both the IRGC and Khatam al-Anbiya. And domestic issues will not be his only problem: the new oil minister will take over as President of OPEC during Iran’s 12-month tenure, which expires in December 2011; but he is among the Ir...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  17. Jordan Expects To Continue Importing Egyptian Gas, But Is ‘Studying All Options’

    ...cessary logistical arrangements for the fuel oil, Dr Tuqan noted. The government is also considering the import of LNG via a terminal in 'Aqaba. For this purpose it is soliciting proposals for an LNG regasification terminal at the Red Sea Port from interested firms, and set a deadline for 13 July 2011 as...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  18. Syrian Oil Production Averaged 387,250 B/D In First Half 2011

    ...Middle East Economic Survey VOL. LIV No 32 8-Aug-2011 syria Syrian Oil Production Averaged 387,250 B/D In First Half 2011 Syria’s crude oil production in the first half of 2011 totaled 70.092mn barrels, or 387,250 b/d, a slight increase from 386,268 b/d in the corresponding pe...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  19. S&P Revises Tunisia Outlook To Negative, Sees Downside Risks Persisting

    ...onomic outlook is clouded by uncertainties,” S&P said. This was attributed partly to the fact that the caretaker government does not currently have the mandate to either articulate or implement mid-term policies. The agency noted that its baseline scenario predicts growth of around 1% of GDP in 2011, st...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011
  20. Nexen Pursues Renewal Of Masila Licenses

    ...ES. According to a Reuters report, under existing agreements Nexen has the right to produce oil from the Masila field until December 2011. “The company is reportedly negotiating a five-year extension because it still sees significant value in the mature field,” it added. Nexen consortia produce ab...

    Volume: 54
    Issue: 32
    Published at Mon, 08 Aug 2011