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Saudi Aramco ‘Restores’ Order After Virus. RasGas Also Hit
...itical production and exploration systems as “isolated networks”. Nevertheless, 30,000 impacted workstations (Saudi Aramco’s 2011 Annual Report gives a total staffing of 56,066) is no minor issue for a company whose operational integrity is so central to both Saudi Arabia’s and the global economy’s we...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Iraqi Output Set For Fresh Records But Challenges Pile Up
...479 0.413 1.892 3.390 0.963 4.353 52.238 75.63 2011 Avg 1.711 0.455 2....
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Saudi LPG Prices Raised For September Deliveries
...tane Change Propane Butane Change Propane Butane 2010 1 Jan 740.00 735.00 2011...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Algeria Details Power Generation Capacity Expansion Plans
...me period. The expansion plans follow a recent series of outages as peak summer demand hit new records. Demand hit a record 10.06gw on 4 August, more than 14% over the 2011 maximum. However, supply was unable to keep pace, forcing Sonelgaz to instigate a series of rolling power cuts with co...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Kuwait Realizes $47Bn Budget Surplus
...er. Public expenditure meanwhile was around KD17bn ($60.2bn), some 12.4% below the KD19.4bn ($69.7bn) initially projected by the 2011-12 budget (MEES, 26 March). “It is a record surplus. Ninety-five per cent or thereabouts of revenues come from oil, and oil prices have been very well supported ab...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Kufpec Expands Australian Presence With Offshore Oil Concession Award
...2011, and four assets that are still in the development stage. It also holds a 7% stake in the $29bn Chevron-operated Wheatstone LNG project in Western Australia, which in May this year reached a deal to sell upwards of 80% of its output to Japan’s Tohoku Electric Power Company. First gas, ac...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
LNG Market Over-Reacts To Qatari Plant Closures
...op in European demand. Mr Bros says: “There is loads of Russian gas – each month in 2011 it exported more to Europe than in the same month last year.” Gas demand is down in Europe – in the first seven months it was down 9% on the year before. “I think it will be down 6% this year by year-end co...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Japanese Crude Oil Imports Return Above 3.5Mn B/D For July
...s long term role of main crude supplier to Japan with shipments of 1.180mn b/d during July 2011, up from 919,555 b/d in June. Crude imports from UAE declined to 701,299 b/d from 894,078 b/d, while imports from Qatar, Kuwait, Iran and Iraq rose from the previous month. Japanese Crude Oil Im...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Saudi LPG Prices Reduced For September
...ange Propane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 50...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Kazakhstan To Double Oil Fund By 2015; Azeri Fund Expands By 36%
...lue of $8bn, equivalent to almost one-quarter of Kazakhstan’s annual budget, estimated this year at $31.6bn. Meanwhile Sofaz, Azerbaijan’s national oil fund, expects an annual increase of around 36% in its assets in 2011, according to a statement released on 26 August by Sofaz Executive Director Sh...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Egypt Drafts Plan To Reduce Energy Subsidies
...rgest component of total subsidies of E£135bn ($22.7bn) set aside in the country’s 2011-12 budget, Mr Biblawi noted. However the budget approved earlier this year had allocated a higher figure of E£157.8bn ($26.5bn - MEES, 11 July). “We are in an unhealthy situation, and there are complications in th...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Pedec Says North Azadegan On Schedule, Fears Grow Over Foreign-Led Projects
...PC that it will cancel a contract for the development of South Pars Phase 11, signed in 2009, if CNPC does not fulfill the terms of the agreement, which called for the initiation of the project’s development within the first half of 2011 (MEES, 27 June). Mr Sadouni said that CNPC has already in...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Jordanian Cabinet Approves $823Mn Supplementary Budget
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 Jordan Jordanian Cabinet Approves $823Mn Supplementary Budget The Jordanian government on 23 August approved a supplementary budget of JD584mn ($823mn) for 2011 to cover extra spending on food and energy subsidies. Jo...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Saudi Non-Oil GDP Growth Estimated At 5.5% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 SAUDI ARABIA Saudi Non-Oil GDP Growth Estimated At 5.5% In 2011, Says Samba Saudi non-oil GDP growth in 2011 is estimated at 5.5%, although the pace of private activity—both investment and consumption—is expected to slow so...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
RAK Petroleum Updates On Operations, Reports 2Q11 Profits
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 UAE RAK Petroleum Updates On Operations, Reports 2Q11 Profits UAE-based oil and gas exploration and production company RAK Petroleum on 29 August reported its financial results for the second quarter of 2011, announcing al...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
UAE Real GDP Growth Rate Expected To Exceed 4% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 UAE UAE Real GDP Growth Rate Expected To Exceed 4% In 2011, Says Samba Real GDP growth in the UAE is expected to exceed 4% this year, bolstered by healthy public investment, rising hydrocarbons production and exports and a po...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Political Comment (5 September 2011)
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 Political Comment (5 September 2011) Russian recognition of Libya's National Transitional Council completes the diplomatic isolation of a defiant Col Qadhafi. Syria continues to be the focus of regional concern. Russia Re...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
From Glass Box To Smoke-Filled Room: How Rumaila Contract Was Renegotiated
...e Problems? Whatever their view of the bid rounds, Iraqi oil experts were almost unanimous in criticizing the production levels the contracts set – both for their impact on the oil price and for being unrealistic given the state of Iraqi infrastructure. During the course of 2011, the Ministry of...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Kazakhstan To Double Oil Export Duties To $40/Ton For 2011
...Middle East Economic Survey VOL. LIII No 36 6-Sep-2010 CASPIAN Kazakhstan To Double Oil Export Duties To $40/Ton For 2011 Kazakhstan’s Minister of Finance Bolat Zhamishev told a cabinet me...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010 -
Khamenei Backs Ahmadinejad’s Push To Remove Subsidies
...ply...the plan for removing subsidies.” The bill is intended to limit subsidies beginning in September, with a view to saving $20bn in the current Iranian year (21 March 2010 – 20 March 2011). However, prominent conservatives have criticized Mr Ahmadinejad for not providing a clear plan on how he in...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010