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Political Comment (8 August 2011)
...Middle East Economic Survey VOL. LIV No 32 8-Aug-2011 Political Comment (8 August 2011) The trial of former Egyptian President Husni Mubarak and his two sons has begun. The UN Security Council has issued a statement expressing “concern” at the “deteriorating situation” in Sy...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Rhetoric Versus Reality
...e author and do not represent those of the Iranian Ministry of Petroleum. High oil prices have been blamed as one of the factors preventing global economic recovery. Some analysts argue that the 8 June 2011 OPEC Ministerial Conference’s lack of an agreement to increase the production ceiling ca...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Crude Prices Break Through $80/B Mark
...velopments across the Middle East – particularly Lebanon – are beginning to gain some additional market attention. Barclays Capital said it had pared its US oil demand forecast to 230,000 b/d in 2010 and 220,000 b/d in 2011. In its Weekly Petroleum Status Report, released on 4 August, the EIA said US co...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Nabucco Confirms Final Investment Decision Set For 4Q 2010
...ring the fourth quarter of 2010. Speaking at a press conference in Vienna on 4 August, Werner Auli, the head of OMV’s Oil and Gas division said the FID for the project, which has weathered a number of delays, would either be made in the fourth quarter of 2010 or the first quarter of 2011 “at the la...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Dragon Oil Output Averages 46,420 B/D In 1H 2010
...diterranean. During the first half of 2010, Dragon completed six new development wells, three workovers and one sidetrack. It also awarded a contract for the lease and management of a new Super M2 jack-up rig to be deployed in the fourth quarter of 2011. Also, contracts were awarded for the construction of two ne...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Dana Petroleum Makes New Egypt Oil Discovery
...e PSC, followed by more drilling in 2011. Dana said that the findings confirmed the PSC as a “very attractive” area to develop, with it estimating that the two discoveries have proven initial reserves of 10-12mn barrels of oil with a potential for considerable upside. The firm has submitted a pr...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Beach Energy To Acquire Onshore Egyptian Interest From KEC
...nuary 2011, following approval by Egyptian authorities. The Abu Sennan acreage covers about 1,600 sq km in the Western Desert, and contains numerous oil prospects, four of which have been approved by authorities for drilling. The first 12-month drilling program on the block is set to commence in two mo...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Saudi Aramco-Dow Petchem Project Costs Still Pegged At Over $20Bn
...moving to Jubail,” explained a source with knowledge of the project, noting that the new site can also provide power and port facilities. A number of process units have therefore been dropped from the initial plan, including a cracker, MEES understands. FEED Completion Scheduled For Mid 2011...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
IMF Approves $370Mn Loan To Support Economic Reform
...10 2011 2012 2013 (Change in %) Production and Prices Real GDP at Market Prices 3.2 3.3 3.6 3.9 8 4.1 4.1 4.4 Real Non-Hydrocarbon GDP 4.7 5.3 4.8 4....
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Growing Oil Power Reshaping Iraq's Future
...aq must allocate 40% of total oil revenues in the years 2011-15 and at least 70% from 2016 on to finance the required physical, social, and environmental projects. ...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
BP Plans $2Bn Investment In Algeria By 2014
...ploration wells, which it expects to drill in the next three years. Separately, Algeria’s biggest international oil producer Anadarko announced in a quarterly earnings conference call on 4 August that it expects to see first oil from its 150,000 b/d El Merk project in late 2011. The US company’s CEO Ji...
Volume: 52Issue: 32Published at Mon, 10 Aug 2009 -
MENA LNG Production Limited By Rising Local Demand And Ageing Facilities
...mpletion until 2011 and 2012 respectively (MEES, 4 August). LNG Plants Competing For Gas A relative newcomer to the LNG industry, Egypt made a dramatic entrance with the commissioning in 2005 of two 3.6mn t/y trains at Idku and one 5mn t/y train at Damietta. The Egyptian LNG (ELNG) trains at Idku, jo...
Volume: 51Issue: 32Published at Mon, 11 Aug 2008 -
Ras Laffan C IWPP Signs Financing Agreement, Islamic Banks Join Group
...ild-operate-transfer (BOT) project is key to Qatar’s needs. It will produce 2.73gw of power and 63mn gal/day of clean water, supplying the country with about one third of its estimated 9.0gw power needs by 2011. The obligations of offtaker Kahramaa are guaranteed by the Qatari state (sovereign ra...
Volume: 51Issue: 32Published at Mon, 11 Aug 2008 -
GDF Suez Awarded $5.6Bn Contract For Shuweihat 2 Power And Desalination Plant
...osan, and Samsung on 21 July, he added. Completion and start-up of the Shuweihat 2 plant is scheduled for 2011. GDF Suez owns 40% of Shuweihat 2, with Abu Dhabi Water and Electricity Authority (ADWEA) holding 60%. All power and desalinated water will be purchased by the Abu Dhabi Water and El...
Volume: 51Issue: 32Published at Mon, 11 Aug 2008 -
UAE Needs To Spend Over $10Bn To Meet Rising Power Demand, Says BMI
...port 2008. Dubai alone will have to boost its power generating capacity to 9.5gw by 2010, said the report. Power consumption in Dubai increased by almost 30% in 2006, according to the Dubai Electricity and Water Authority (DEWA). The UAE will account for 5.77% of regional power generation by 2011, sa...
Volume: 51Issue: 32Published at Mon, 11 Aug 2008 -
First Kazakh Crude Arrives At PetroChina’s Dushanzi Petrochemical Plant
...mn t/y (400,000 b/d) by 2011 and deliveries may eventually include crude oil from Russia. Plans call for the pipeline to be extended in Kazakhstan to the eastern shore of the Caspian Sea, making its entire length around 3,000km (MEES, 29 May) A crude oil refinery at the Dushazi complex, with a ca...
Volume: 49Issue: 32Published at Mon, 07 Aug 2006