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Unicorn Claims Former CEO Committed Criminal Offences
...duction in our operating expenses and the realignment of the bank’s operating strategy, leave Unicorn in a strong position to continue to report profitability in 2011.”...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
TAP And Geoplin Sign MOU For Slovenian Gas Pipeline
...e proposed 10 bcm/year capacity Ionian-Adriatic Pipeline (IAP) project, a potential extension of the TAP pipeline that could be built on the premise of a future expansion of TAP’s transit capacity to 20 bcm/y. Since early 2011, TAP has signed a series of similar MOUs with the pipeline system op...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Militants Attack Sinai Gas Infrastructure Again
...rdan had relied on Egyptian gas for 80% of its power generation. Since the disruption of supplies, Jordan has had to switch to heavy fuel oil and its energy import bill during the first half of 2011 rose by 74% to JD1,792mn ($2.527bn)....
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Dana Gas Awaits $200Mn In Payments From Egyptian Government
...uters as saying. “They were $185mn,” he added, “but in the previous month they reached around $200mn.” Dana Gas is the sixth-largest gas producer in Egypt. It produced about 4mn barrels of oil equivalent during the second quarter of 2011, an increase of 6% compared to the same period last year. Du...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Botas Shuts Iran-Turkey Gas Pipeline, NIGC Seeks Compensation
...out a week and that NIGC would examine the possibility of receiving compensation for the interruptions to gas deliveries that occurred throughout 2011. On 25 September NIGC Managing Director Javad Owji had told Iran newspaper that the actual reason behind the Turkish request for technical repairs wa...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
World Bank Urges Iraqi Financial Sector Reform
...eded on a number of fronts, indicates the 244 page-long Republic of Iraq Financial Sector Review, noting that Iraq was last among Arab countries in the survey of Doing Business in the Arab World 2011. Government oil revenues accounted for 60% of the country’s GDP in 2009 and as a result di...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Jordan To Receive $359Mn In US Grants
...operation Ja'far Hasan said, adding that this amount will be transferred before the end of the year. Other allocations cover $48mn for education, $23.5mn for health and $39.8mn for projects to generate jobs and boost trade and investment. Jordan’s budget deficit in 2011 is projected at JD1,160mn ($1,...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Qatar The Fastest Growing Economy Worldwide In 2011, Says QNB Capital
...Middle East Economic Survey VOL. LIV No 40 3-Oct-2011 QATAR Qatar The Fastest Growing Economy Worldwide In 2011, Says QNB Capital Qatar will continue to be the fastest growing economy worldwide in 2011 with an estimated real GDP growth of 21%, according to QNB Capital. No...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Syria Bans Some Imports To Preserve Foreign Exchange
...serves. After six months of political unrest and street violence that has left more than 2,700 dead, and a raft of US and EU sanctions, the economy has begun to show signs of weakness and decline. According to latest IMF projections, the Syrian economy is set to shrink by 2% in 2011, after growing at 3....
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
EU Announces More Restrictions On Syria’s Oil Industry
...terprises in Syria that are engaged in the Syrian oil industry sectors of exploration, production or refining and with any subsidiary or affiliate under their control.” Syria produced an average of 387,250 b/d of crude oil and 30.28mn cmd of gas in the first half of 2011 (MEES, 8 August). Shell and To...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Dubai Plans Major Solar Power Plant
...cretary-General and CEO Najib Za'frani added: “It will be big enough to accommodate this 5% target.” DEWA is aiming to raise Dubai’s power generation capacity to almost 10gw by the end of 2011, but electricity demand is rising rapidly and last year increased by 9.6% rather than the forecast 6% (ME...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Cyprus Confers With Offshore Neighbors Prior To Next Bidding Round
...litical issues of common interest in relation to offshore mineral wealth.” Cyprus had been expected to hold a second round in late 2010 and the Energy Department of the Ministry of Commerce and Industry told MEES in July that the launch of a second round would take place during the first half of 2011 (ME...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Vitol Terminal Construction Set For 2011
...Middle East Economic Survey VOL. LIII No 40 4-Oct-2010 CYPRUS Vitol Terminal Construction Set For 2011 Vitol Tank Terminals International (VTTI) on 29 September said the construction of a new 343,000 cu ms (2.14mn barrels) petroleum products tank farm at Vasilikos in Cy...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
IAEO Chief Denies Further Slip In Bushehr Schedule Linked To Computer Virus
...ergy Organization (IAEO), has denied press reports linking a further delay in the completion of the 1gw nuclear power plant at Bushehr with a virus discovered on computers at the plant. AFP reported on 29 September that Bushehr was now expected to begin generating electricity by early January 2011...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
APICORP Prepares To Launch First Ever Bond
...mmented APICORP’s Chief Executive and General Manager, Ahmad Bin Hamad al-Nuaimi. MENA energy capital investment growth will recover from post crisis contraction, climbing to $615bn in 2011-15 from $550bn in 2009-14, suggests APICORP’s Senior Consultant Ali Aissaoui (see page 27). For APICORP’s bo...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Aksa Enerji Awards Samsun Power Plant Contract To Wartsila
...stallation of a new gas-fired unit with a rated output of 18.3mw. Wartsila said in a statement that the scope of supply also includes the controls, automation and auxiliary equipment for the fuel gas, charge air, cooling and exhaust gas systems. When the new engine is commissioned in 2011, the plant will ha...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Jordan Signs Agreement For Qatraneh Power Project
...10, while the second combined cycle phase will become operational in August 2011. Jordan needs to increase generation capacity by around 300mw annually to meet rising electricity demand, according to the Ministry of Energy and Mineral Resources strategic plan....
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Emerging Market Sovereign Credit Resilient To Recent External Shocks, Says S&P
...sitive real per capita income growth in 2009, while eight will continue to contract in 2010. The fiscal position of almost every government will be worse than that of the preceding five years as automatic stabilizers operate. Comparing 2007 with 2011, government debt levels are expected to increase by...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Armenia To Lose Russian Gas Subsidies
...e gradual harmonization in the prices paid by Armenia with what Gazprom charges its European clients. This should be achieved by 2011. Armenia will pay $154/1,000 cu ms for gas next year, 40% up from the current price, rising to $200/1,000 cu ms in 2010. Next year’s pricing will come into effect on...
Volume: 51Issue: 40Published at Mon, 06 Oct 2008 -
Sinopec To Take Over Canada’s Tanganyika Oil
...volved in a 100,000 b/d refinery project in Abu Khashab, northeast of Deir Ez-Zor, planned to start up in 2011. Given China’s rising demand for energy, Chinese companies are expected to press on with efforts to boost their oil investments in the oil producing areas of the Middle East. To go through, the Ta...
Volume: 51Issue: 40Published at Mon, 06 Oct 2008