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EIA Raises 2010 Demand Growth Forecast, 2011 Unchanged
...Middle East Economic Survey VOL. LIII No 42 18-Oct-2010 EIA Raises 2010 Demand Growth Forecast, 2011 Unchanged The Energy Information Administration (EIA) of the US Department of En...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Kabyldin Says KMG Will Cover Investment Needs To 2014 Via Loans
...dernize its three oil refineries and another $4bn for the next four years in order to sustain its current running expenses. According to Bloomberg, KMG has $11bn of bonds and loans outstanding, with peak debt payment of $2.7bn in 2011. Mr Kabyldin noted that the main reason for rejecting the IPO option is...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Gazprom, Transgaz Sign MOU on South Stream
...tended to the areas of electricity and offshore oil and gas exploration and production. If the result is positive then a decision on creating a South Stream Romania joint venture will be taken by March 2011 at the latest, in ways “that optimize the overall project,” RIA Novostiquoted Mr Miller as sa...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Shah Deniz 2 Stage Two Will Not Supply Gas Till 2017
...nner of the SD2 tender will not be taken before June 2011 at the earliest. The three major consortia battling to secure SD2 gas have confirmed that the initial round of talks started in late August. The most optimistic scenario is that all three will pass through the preliminary phase and will be sh...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Egypt Launches 2010 Bid Round With 7 EPSA Licenses
...mprising seven exploration and production service agreements (EPSAs) for blocks in and around the Gulf of Suez, state-owned General Petroleum Company (GPC) has announced. Bids for the blocks are due by 20 February 2011, with information regarding the acreage available from 17 October. The blocks on of...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Shahristani: ‘Ahdab Dispute Solved’
...rst of three 900,000 b/d capacity single point moorings in the Gulf should be installed by the end of 2011, with the second to follow six months afterwards and the third to by end-2012, Dr Shahristani said. The project received cabinet approval earlier this month (MEES, 4 October)....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Samba: OPEC Should Show “Sustained Restraint” As Demand Growth Slows
...periencing a double dip recession in the near future has lessened, though it will be affected by a “nagging slowdown” in developed economies, Samba Financial Group has said in a new report. In its latest edition of Economic Monitor, the bank projects global GDP growth of 4.3% in 2010 and 3.9% in 2011. With th...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Syria Inaugurates Oil And Gas Training Center
.../50 joint venture between GPC and INA Naftaplin of Croatia. The plant will have a capacity to produce 3.7mn cmd of sales gas, 180 tons/day of LPG and 12,000 b/d of condensate and crude, and was due to come on stream at the beginning of 2011 (MEES, 2 August). ...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Dubai Denies Local Airline Get Preferential Treatment
...Afghanistan, whose mission there does not end until 2011, with Canada now expected to make use of bases located in Cyprus, Pakistan and Germany for the remaining few months of its obligations....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
OPEC Communiqué – 157th Meeting Of The OPEC Conference
...ected HE Masoud Mirkazemi, Minister of Petroleum of the Islamic Republic of Iran and Head of its Delegation, as President of the Conference for one year, with effect from 1 January 2011, and HE Dr Husain al-Shahristani, Minister of Oil of Iraq, as Alternate President, for the same period. The co...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Producing Countries Deliberate Higher Crude Prices For 2010 Budgets
.../B from this year’s $41/B, and is forecasting that Urals crude, its export grade, will reach $59/B in 2011 and $60/B in 2012. Nigeria has adopted $50/B, up from $45/B this year, and Finance Minister Mansur Muhtar has said he sees scope to hike this further if energy prices continue to remain hi...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UK Treasury Orders Financial Firms To Stop Trading With Bank Mellat, Iran Shipping Lines
...ansfer 80% of the once wholly state-owned bank into private hands by late 2011....
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
BofA Merrill Lynch Predicts Strong GCC Growth
...see an average real GDP growth of 8.01% in 2010, mostly due to its expansion in LNG capacity. As the non-oil sectors will likely be the main drivers of Qatari growth beyond 2011, the firm posits an unclear picture for the country’s long-term growth due to falling inflation (caused by a st...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UAE To See Modest Economic Recovery in 2010, NBK Projects
...fice space by 50% by 2011. Inflation, meanwhile, is expected to remain low, perhaps below the estimated 2009 figure of 1.9%, due to much lower growth in labor costs, depressed housing rents, and a competitive retail market. A rise in UAE interest rates is also thought to be unlikely, due to the su...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
Saipem Extends Drilling Contract In Egypt’s West Delta Deep Marine
...laysia’s Petronas (25%) and the state-owned Egyptian General Petroleum Corporation (EGPC – 50%) which supplies the Egyptian LNG plant at Idku and the domestic market. BG told MEES in May that the $3bn it is planning to invest in Egypt between now and 2011 is specifically intended to maximize the de...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
RWE Dea Outlines North Africa Production Plans
...rth Idku field in the offshore Nile Delta, which is due to start production in 2010 at a rate of 1.1 bcf/year. RWE estimates its capital expenditure for Egypt, Libya and Algeria between now and 2011 will be around €550mn. A company spokeswoman told MEES that the numerous oil discoveries in Libya th...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
Saudi Aramco Further Increases Scope Of Karan Gas Project
...expanded Khursaniyah gas plant for planned end-December 2011 start-up. Karan gas is high in sulfur, adding to the cost development, which will far outweigh the usual 75 cents/mn BTU internal Saudi gas price (MEES, 28 January). Reserves of around 7 tcf have been announced for the field, but ME...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
Iran Establishes High Council To Draw Up Development Plan
...d has asked First Vice-President Parviz Davudi to oversee its establishment. The president has said that the plan, which is to start in March 2011, should be ready in 2010 after it is approved by the Supreme Leader Ayatollah Ali Khamenei and ratified by the cabinet and parliament. Mr Ahmadinejad sa...
Volume: 50Issue: 42Published at Mon, 15 Oct 2007 -
Foster Wheeler Awarded FEED, Management For Mesaieed Petrochemical Complex
...its, is scheduled for completion in 2011. ABB Lummus will supply process technology, with Basel supplying polypropylene technology....
Volume: 50Issue: 42Published at Mon, 15 Oct 2007 -
EC-Gazprom Settlement Over Destination Clauses Likely To Pressure Sonatrach
...d is used to transport all Russian gas destined for the Italian market. The expansion has to be completed between 2008 and 2011 depending on certain Italian market developments. Eni finally offered to promote an improved third party access regime (TPA regime) facilitating the use of the TAG as a tr...
Volume: 46Issue: 42Published at Mon, 20 Oct 2003