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KMG EP Reports Output Down In First Half, Begins Modernization
...SPIAN KMG EP Reports Output Down In First Half, Begins Modernization Kazakhstan’s KazMunaiGas Exploration Production (KMG EP) reported on 14 August that in the first half of 2012 it produced 6.057mn tons of crude oil (248,000 b/d), which is 4% less than in the same period of 2011. The decline was ma...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Egypt’s Finance Ministry Loans EGPC $600Mn
...ise the total amount of loans extended to EGPC since 2010-11 to $5.75bn, in addition to financial guarantees from the ministry to the oil sector in 2011-12. EGPC is also said to be seeking to borrow from Arab lending organizations $600mn to ease the liquidity crisis from which the corporation is cu...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iraq Denies It Is Helping Iran Avoid International Sanctions
...ayer in Iraq and the government of Prime Minister Nuri al-Maliki, especially after the withdrawal of the US army from Iraq in December 2011. Tehran is one on Iraq’s main trading partners and has plans to boost the volume of bilateral trade between the two countries from the current estimate of $11...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Iran Plans 1.5GW Hydropower Capacity Addition This Year
...zazadeh said that the 1.5gw of capacity due on-line this year comprises six new units: two at the Gotvand Dam hydropower plant and four at the Siah Bisheh plant. Iran’s total power generation capacity is estimated at 53gw (MEES, 23 May 2011). ...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
KMG EP Acquires Four Exploration Licenses In Kazakhstan
...the incurred expenses of the national company KMG on financing the Teresken block work program prior to the closing date of the transaction in 2011.” The statement said the four exploration licenses cover the Temir, Teresken and Karaton-Sarkamys blocks and the territory adjacent to the Uzen an...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Political Unrest Affecting Egypt’s Economic Growth, Says NBK
...Middle East Economic Survey VOL. LIV No 35 29-Aug-2011 EGYPT Political Unrest Affecting Egypt’s Economic Growth, Says NBK Egypt’s real economic growth is expected to have slowed noticeably in the first half of 2011 and unemployment to have risen thanks to the recent unrest an...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Delek Drilling And Avner Report Higher 2Q Revenues From Yam Thetis Block
...ported a decline in profits, with Delek Drilling reporting $11.1mn for the second quarter of 2011 compared to $14.9mn for the same period in 2010, while Avner’s profits fell to $10.5mn from $14.9mn during the respective periods. Both companies attributed the decline in earnings to a rise in costs for th...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Germany Grants Jordan €99Mn In Financial Assistance
...ft loans and €9mn in grants, will be spent mainly on the water sector, the main focus of German-Jordanian development cooperation for 2011-12, which aims to improve water supply, reduce water loss and build the sewage system. Also the funds will support a number of other projects, including the co...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
IMF: Saudi Economy Withstands Financial Crisis, But Challenges Remain
...pply shortfalls from other oil producing countries. Fiscal and external balances are forecast to strengthen further in the short term, while recently published leading indicators suggest a likely acceleration in private sector activity in early 2011, with overall real GDP growth projected to hit 6....
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
EU Approves €110Mn Financial Assistance For Tunisia
...to Tunisia following the January 2011 revolution, aimed at supporting the political and economic transition, an EU statement said. The first program, with a €90mn budget, supports the economic recovery measures recently adopted by the Tunisian government. These measures will also be supported by...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
DEWA Announces 8.6% Increase In 1H11 Income On Increased Sales
...les in recent months. In a statement released on the Nasdaq Dubai bourse, DEWA posted an income figure of Dh1.63bn ($444mn) for the six months to 31 June 2011, up from last year’s corresponding figure of Dh1.5bn ($408mn). While revenues were also seen to jump to Dh6.6bn ($1.8bn) – around 43% up fr...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Second Pipeline Of Central Asia-China Gas System Nears Completion
...ported on 20 August. Line B is scheduled to be operational by the end of September, and will add an initial 9 bcm/year of capacity to the Central Asia-China system, which is intended to reach a throughput capacity of 30 bcm/year by the end of 2011. The 1,833km pipelines connect Turkmenistan’s gas fields al...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Saudi Inflation Rises To 5.5% In June
...ivate sector bank credit”, says the report. Loans worth an estimated SR73bn ($19.47bn) should be booked by banks in the second half and into the first months of 2011. Saudi banks have raised their foreign assets by 13.2% since January in preference to overnight deposits with the Saudi Arabian Monetary Ag...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Emirates Steel Signs $1.1Bn Project Financing Agreement
...reement on 24 August with a consortium of seven conventional banks and two Islamic finance institutions. The financing will partly fund an ongoing $2.45bn expansion and upgrading program that will raise ESI’s steel production capacity from 2mn tons/year now to 3mn t/y in 2011. Official news agency WAM re...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Syria And Turkey Ink MOU To Expedite Integration Of Gas Networks
...ncluding a number of agreements, including a short-term sales agreement to supply Syria with 0.5-1.0bcm/year from Turkey’s gas supplies for a period of five years starting in 2011.The MOU was signed during a visit by Turkish Energy Minister Taner Yildiz to Damascus to meet his Syrian counterpart Sufian 'Al...
Volume: 52Issue: 35Published at Mon, 31 Aug 2009 -
GDF Suez, GIC Awarded $2Bn Al Dur 1 IWPP Contract
...wer and water purchase agreement for Al Dur 1 independent water and power project (IWPP) in Bahrain. Phase 1 of the project, to be developed on a BOO (build, own, operate) basis, will start in the summer of 2010, with full capacity to be achieved in summer 2011. Al Dur 1 is expected to start de...
Volume: 51Issue: 35Published at Mon, 01 Sep 2008 -
Saudi Aramco And Partners Sign Yanbu' And Jubail Export Refinery Contracts
...pointed Halliburton subsidiary KBR to carry out front-end engineering for the planned $6bn export refinery in Yanbu' (MEES, 29 May). The Yanbu' Export Refinery, scheduled for completion in 2011, will be designed to process 400,000 b/d of Arabian Heavy crude oil, producing motor fuels and other re...
Volume: 49Issue: 35Published at Mon, 28 Aug 2006