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Algeria’s Forex Reserves Rise To $174Bn By End-June 2011
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 ALGERIA Algeria’s Forex Reserves Rise To $174Bn By End-June 2011 Algeria’s foreign exchange reserves rose to $174bn at the end of June, an increase of $11bn from the figure at the end of 2011, the Governor of the Central Ba...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Total Announces Major Gas Find On Absheron Block
...nuary 2011, are still “too preliminary” to provide an accurate picture of the field’s prospective reserves, a petroleum geologist familiar with the region told MEES that the “topography of the initial results augurs well for the existence of more extensive finds along the northern extension of the fi...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Head Of Audit Court Claims Iran Owes $13Bn For Funding Of Subsidy Cuts
...said the government had not paid back a number of loans used to fund payments made to compensate for the cost increases. He said the government borrowed IR50 trillion from the central bank, under a loan that was to have been paid off by 19 March 2011 but which is still outstanding. A further IR...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
ESAI Charts Return Of Libyan Crude To Market
...itial ramp up of “easy to return” volumes that will boost production to near 300,000 b/d by the end of 2011. There will be another significant increase by late 2012, and output should cross the 1mn b/d mark in early 2013, ESAI said, adding that production should return to 1.5mn b/d by the end of 20...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Sohar Aluminium To Assist OPWP To Meet Peak Power Demand
...har Aluminium during May to July 2010 was limited to 138,239mwh as the grid demand reduced substantially following Typhoon Phet,” it added. However, during 2011 the total power exported to the grid for the peak months of May to August was 457,602mwh. Average demand for electricity in Oman is pr...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Uncertainty Slowing Economic Growth In Palestine, Says World Bank
...a report published ahead of a meeting of international donors scheduled to be held on 18 September. “The IMF has revised the projected real GDP growth rate for 2011 from 9% down to 7%,” noted the report. No significant easing of Israeli restrictions has taken place in 2011, so that the Pa...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Syrian Crude Production Unaffected By EU Sanctions, Says IEA
...oducts if they originate in or have been exported from Syria (MEES, 12 September). The IEA calculated that Syria produced 332,000 b/d of crude during August. According to the agency, Syria exported an average of 39,000 b/d of Syrian Light crude during 2010 and 25,000 b/d during the first half of 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Ukraine Says LNG Project With Kazakhstan Postponed, Outlines Gas Production Plan
...zakhstan’s draft budget, issued on 13 September, indicated that Astana plans to produce 81mn tons of crude and condensate in 2011, and to increase production further to 83mn tons in 2012. The draft said that this year Kazakhstan exceeded its production quota of 80mn tons by 2-3mn tons, due to increased ou...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
IAEO Chief Says Bushehr Nuclear Plant Will Reach 40% Capacity By Year-End
...s full production capacity by the end of 2010. Iran aims to raise Bushehr output to its full capacity of 1gw by the end of March 2011....
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Kuwait Plans Four Nuclear Reactors By 2022, KNNEC Chief Says
...e most common material to be used as a coolant, but the emirate’s coastline is heavily populated. Meanwhile, Mr Bishara recently told Bloomberg in an interview that the emirate was currently drafting a roadmap for its nuclear program. The plan, which could be ready by January 2011, will include a ti...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
US Threatens Sanctions If Sudan Referendum Is Delayed
...ople. It is scheduled for 9 January 2011, with most voters expected to back partition. On a recent visit to the country, President Barack Obama’s envoy Scott Gration “made clear that there are a range of consequences that will be deployed if the situation in Sudan deteriorates or fails to make pr...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Gulfsands’ Syrian Oil Production Now Averaging About 20,000 B/D
...25% of the exploration license for Block 26, thereby reducing the acreage to 5,414 sq km. At the same time the term of the license was extended till August 2011. ...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Kulczyk Oil Sells 30% Interest In Syria’s Block 9
...2011. Late last year Kulczyk announced that it has agreed to transfer 20% interest in Block 9 to Triton Petroleum and a 5% interest to an unrelated party (MEES, 21/28 December 2009). Following this latest sale of equity, Loon Latakia will now have a 45% interest in the block; MENA Hydrocarbons (Sy...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Egypt In Upstream Gas Push, With Eight Development Projects Worth $2.2bn
...ctor, which represents 56% of demand, followed by the industrial sector with 29%. Household consumption is also on the rise, with a plan currently being implemented to provide 1.5mn housing units with natural gas by 2011 and 5.5mn housing units by 2015. As part of this plan, the Upper Egypt gas pi...
Volume: 52Issue: 38Published at Mon, 21 Sep 2009 -
GE And Hyundai Win $2.65Bn Contract To Build 2GW Power Plant at Sabiya
...nerators and a plant control system, as well as long-term services. Hyundai will undertake engineering, procurement and construction. The Sabiya plant is scheduled to come on line in two phases: 1.3gw of capacity will be connected to the Kuwaiti grid in 2011, with a further 700mw in 2012. Natural gas wi...
Volume: 52Issue: 38Published at Mon, 21 Sep 2009 -
Sudan’s Oil Figures Challenged, Minister Expects 520,000 B/D Output In Coming Months
...take place next year, and the referendum on independence for the south in 2011, mistrust between the north and south is not showing any sign of diminishing, especially given that Sudan’s oil production is expected to rise. Celebrating the tenth anniversary of Sudan’s debut as an oil producer, th...
Volume: 52Issue: 38Published at Mon, 21 Sep 2009 -
ESI Signs $474Mn Contract With Danielli For New Rolling Mill
...ction beams, columns and sheet piles. The new mill will raise ESI total capacity to 3mn t/y by 2011. The company is also considering boosting its capacity further to 6.5mn t/y by 2013-14 through capacity expansions and acquisitions. With regard to the latter, ESI’s Chairman of the Board Husain al-Nu...
Volume: 52Issue: 38Published at Mon, 21 Sep 2009 -
PTT Sees Rising Prices As Barrier To Iranian LNG Supply Deal
...livery of 3mn t/y beginning in 2011 (MEES, 10 July 2006). On 13 September Mr Kwangsukstith said PTT was in talks to secure alternative supplies in the face of delays to Pars LNG....
Volume: 50Issue: 38Published at Mon, 17 Sep 2007 -
Current KPC Strategy Has Achieved Only Half Its Goals, Says Buqrais
...isis affecting the country’s power generation sector amid rising electricity demand. He added that the current budgeted price for the new refinery, $15bn (the previously published figure was $14bn) would apply only if the refinery stuck to its current schedule of completion in 2011. Any further de...
Volume: 50Issue: 38Published at Mon, 17 Sep 2007 -
NIORDC Aims To Raise Gasoline Production Capacity To 767,380 B/D By 2010
...owth, and with capacity expansion proceeding as planned, consumption would reach 607,600 b/d by end-March 2010 and 668,360 b/d by end-March 2011, so that the incremental capacity would take Iranian gasoline production back into surplus....
Volume: 48Issue: 38Published at Mon, 19 Sep 2005