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Kuwait’s GDP Surges 29% In 2011, NBK Says
...WAIT Kuwait’s GDP Surges 29% In 2011, NBK Says Kuwait’s nominal GDP in 2011 rose by 29% to KD44.4bn ($157.2bn) from KD34.4bn ($121.8bn) in 2010, according to preliminary estimates by National Bank of Kuwait in its Kuwait Economic Brief of 14 August. The steep rise in GDP was attributed to a 47% su...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Libyan Producers Target Pre-War Oil Volumes By Year-End
...sin’s Akakus joint venture, where OMV is also a partner, gave the ramp-up in its Libyan production as the key factor behind its improved second quarter output of 320,000 b/d, up 8% on the same period in 2011 (when Libyan production was zero). However the company’s bottom line has been whacked by write-do...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
APICORP Announces 24% Rise In Income In First Half 2012
...GIONAL/OAPEC APICORP Announces 24% Rise In Income In First Half 2012 The Arab Petroleum Investments Corporation (APICORP) has announced a net income of $51mn in the first half of 2012, up 24% from $41mn in the corresponding period of 2011. APICORP’s assets increased 18% to $5.12bn from $4....
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Severe Recession Hit Tunisia After 2011 Regime Change, Says IMF
...nisia Severe Recession Hit Tunisia After 2011 Regime Change, Says IMF Tunisia’s political transition continued to progress after the overthrow of the regime of Zein al-'Abidine bin 'Ali, in January 2011, but the country experienced a severe recession in the aftermath, the International Monetary Fu...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
TAQA Profits Rise 2.8% In Second Quarter
...arter compared to the same period in 2011 – a 2.8% rise. Total revenues dropped 14.5% in the quarter. North American gas prices have continued to fall with Henry Hub prices hitting a 10-year low in February 2012, Carl Sheldon TAQA’s CEO said. “Prices have since recovered somewhat, but overall ga...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Hisham Khatib: Letter To The Editor
...two elements. The numerator is the algebraic sum of government expenditures, minus non-hydrocarbon…. In Figure 3 ‘Total hydrocarbon demand’ should read ‘Total hydrocarbon domestic demand’. Also in Table 1 (2011 WOO) should read (2011 WEO). Sincerely, Dr Hisham Khatib Gl...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
New Megabank Targets Gaps In Islamic Banking Sector
...of Istikhlaf, which was also to have been established in 2009. “In 2009 we were hit by the crisis and then 2010 looked a good time to set it up, but then countries like Greece started having problems. Then in 2011 Arab countries had their issues, but now it’s stabilizing,” said Mr Yousif. Is...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Electricity Price Freeze Hinders Dubai’s Energy Plan
...e amount of carbon dioxide of US citizens. DEWA has said it expects Dubai’s energy demand to rise 6-7% in 2011 over last year. Consultant Sought To get a grip on Dubai’s energy usage Mr Tayir said: “In line with the strategy of Dubai’s Supreme Council of Energy regarding energy demand ma...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Kurdish Upstream Sector Hots Up
...-Jul-11 4,800 b/d† Bought into Komet block July 11 Aspect Energy Atrush Marathon, ShaMaran 12-Nov-07 discovery 2011. Ar...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
OPEC Output Surges In July As Saudi Output Hits 30-Year High
...st month contributed to northern exports falling by some 85,000 b/d to around 460,000 b/d. OPEC Crude Oil Production July 2010 – July 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Target Jul Jun May Apr Ma...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 34 22-Aug-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Se...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Algerian Finance Minister Says Foreign Investments Are Safe
...the 2011 budget, and projected growth next year at 4.7%, with an inflation rate of 4%. He also said that measures will be taken to activate the stock market so that it would become a domestic source of funding projects....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
BAPETCO Reports Western Desert Gas/Condensate Discovery
...d developed 22 wells that produce 14,000 b/d of crude oil and 160mn cfd of gas. This has brought the company’s output to more than 40,000 b/d of crude and 435mn cfd of gas, he said. During 2011-12, BAPETCO plans to drill 44 exploration and development wells....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Iran’s Inflation Rate Rises To 16.3% In July
...ded that the rate would rise in 2011-12, but will come down in 2012-13 if the authorities implement tight credit and fiscal policies (MEES, 15 August). But analysts familiar with Iran are not convinced of this latest upbeat assessment of the economy by the IMF. The announcement of the July in...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Jordan’s Subsidies For 2011 Estimated At $2Bn
...Middle East Economic Survey VOL. LIV No 34 22-Aug-2011 Jordan Jordan’s Subsidies For 2011 Estimated At $2Bn The cost of subsidizing a number of products in Jordan this current year is...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Kuwaiti Amir Says Misuse Of Surplus Has Led To Imbalances
...equent political disputes in parliament. Kuwait in June approved a 2011-12 budget projecting a 38.3% increase in revenue to KD13.445bn ($49.343bn) and a 19.2% hike in expenditure to KD19.435bn ($71.326bn), with a resulting deficit of KD7.334bn ($26.916bn). In 2010-11 Kuwait realized a surplus of KD...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Syria Announces New Gas Discovery At Qara
...7,250 b/d in the first half of 2011, as well as more gas reserves. Its gas output in the same period stood at 30.29mn cmd, but the country needs more gas for domestic consumption....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Dubai’s ICD To Repay $4Bn Facility On Maturity
...bai, planned to repay in full the $4bn, three-year tranche of the $6bn conventional and Islamic facilities signed on 21 August 2008, when it fell due on 21 August 2011, according to an 8 August statement by the Dubai Government Media Office. The three-year tranche, to be settled on 21 August 2011, co...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Political Comment (22 August 2011)
...Middle East Economic Survey VOL. LIV No 34 22-Aug-2011 Political Comment (22 August 2011) The US has finally called openly for Syrian President Bashar al-Asad to go and the Europeans ha...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Iraq Energy Institute Report On The South Gas Project
...ficially was asked by Iraq’s Parliamentary Oil and Energy Committee to assess the South Gas Project, for which an agreement is expected to be signed between the Iraqi Government and the consortium of Shell and Mitsubishi. The report is dated 31 July 2011 and is based on the summary document submitted by...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011