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Damage To Syrian Oil Sector Estimated At $2.9Bn
...awra last week. He added that government oil facilities and associated infrastructure sustained losses of some S£5bn ($72.5mn). Oil production declined as a result of the fall in crude exports after EU sanctions were imposed on Syria in September 2011 (MEES, 12 September 2011). He explained that tr...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Qatargas Secures Third Japanese LNG Supply Contract of 2012
...0 2011 Not decided HOA Apr-08 PetroChina 3.0 2010 25 SPA Ju...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Turkey Turning To Nuclear Power, Counting On Coal
...wer generation by 2023, the republic’s centennial year. The disaster at Japan’s Fukushima nuclear plant in March 2011 and its repercussions forced a re-think in Ankara about nuclear power, but it now appears that Turkey’s future energy needs have convinced the government that reactor-ge...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Wärtsilä-Led Group To Build Jordan Power Plant
...om Egypt was reduced following the overthrow of the Husni Mubarak regime in early 2011 (MEES, 12 October). Wärtsilä’s partner in the project is South Korea’s Lotte Engineering and Construction. The Finnish firm noted that it has a minority interest in ‘Amman Asia Electric Power, where th...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Aramco Sees Energy Paradigm Shift
...ogram (MEES, 28 November 2011). But the problem was “misleading hype” about how quickly renewables could make an impact. “As a result there have been a lot of disappointments,” he noted. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
The Coming Wave: Global Oil Price Volatility
...uctuations without engaging in actual delivery contracts. As may be seen in figure 2, the number of oil futures contracts rose to approximately 1.6mn by the end of 2011 from approximately 450,000 in 2000. This excludes the less-transparent over-the-counter (OTC) market, where there is other major oil trading ac...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
ESAI Sees Russia Changing Crude Export Strategy
...port Russia Comes of Age: Restructured Exports Strengthen Russia’s Hand in Oil Markets, published in mid-October, ESAI said: “In late 2011, Russia is adding 700,000 b/d of export capacity to the Baltic Sea, where it already exports 1.5mn b/d of oil. At the end of 2012, the capacity of the ESPO pi...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
China’s Crude Oil Imports Decline During September
...e August total of 21.04mn b/d and 12.2% below the September 2010 import total of 23.29mn tons. During the January-September 2011 period, China has imported a total of 186.77mn tons of crude oil. Total crude imports during 2010 amounted to 239.31mn tons (4.79mn b/d). China Crude Oil Imports 20...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 Crude Oil Formulas/Posted Prices ($/B) Iraq (+/- Adjustment Factor; $/B) 2011 2010 Nov Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Moody’s Says Egypt Government’s Resignation Offer Is “Credit Negative”
...dex declined 2.3% on 10 October to its lowest level since March 2009. Meanwhile, GDP contracted 4.2% in 1Q11 and foreign direct investment (FDI) “completely collapsed” in 1H11, recording a small net outflow. The IMF sees the Egyptian economy growing at an “anemic” 1-2% a year in 2011 and 2012. “A ch...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Preliminary Estimate Of Arab Spring Cost Put At $56Bn
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 REGIONAL Preliminary Estimate Of Arab Spring Cost Put At $56Bn The macro-economic cost if the Arab Spring which saw the eruption at the beginning of 2011 of revolutions in Tunisia, Egypt and Libya in North Africa, Syria in th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Morocco Top ‘Doing Business’ Reformer As Saudi Arabia Leads MENA Rankings
...om 136. But the report only covers regulations measured from June 2010 through May 2011. The report finds that six of the MENA region’s 18 business regulatory reforms made it easier to start a business. For example, Jordan reduced the minimum capital for company start-ups, and Oman’s new one-st...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 SAUDI ARABIA Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production Riyadh-based Jadwa Investment has raised its projection for 2011 Saudi real GDP growth to 7.1% from 5.6%, as a result of an upward re...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 UAE Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment Abu Dhabi’s International Petroleum Investment Company (IPIC) saw profits for the first half of 2011 nearly triple as the government-ba...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Political Comment (24 October 2011)
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 Political Comment (24 October 2011) The death of Mu'ammar al-Qadhafi brings the first stage of Libya's rebirth to an end. The international Quartet is to meet separately with the Israelis and Palestinians in an attempt to...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Hydrocarbon Reserves Of Iraq
...ptember 2011, remains a dream for a while due to its cost. The main target here is the equivalent of the Khuff Formation that is gas prone in the Gulf area. New exploration in a fifth round or by OEC looks limited given the absence of strategy. Following a request from the director-general of OEC to th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
The Global Financial Crisis Discloses Dysfunctional Distribution Of Income In Developed Economies
...e agenda of the European Council of Economic and Financial Affairs since March 2011 for imposition of penalties and close oversight, but the damage is already in the financial system and in the confidence of European citizens across member states. Before governments, central banks, po...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Iranian Crude Production Faces Continual Decline
...oduced a small amount of gas, temporarily, in an attempt to show that the sanctions have no effect, but the gas was not brought onshore, MEES understands. The official start-up date is early 2011, but later in 2011 is more probable, according to FACTS Global Energy. To Inject Or Not To Inject Ma...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Dragon Oil Expects To Miss 2010 Production Target Because Of Bottlenecks
...e trunkline and expanded CPF will be fully operational with the CPF set up to handle up to 100,000 b/d of liquids and up to 220mn cfd of gas. The outlook for 2011-13 envisages the drilling of up to 40 wells, of which five will be appraisal wells. We expect two new platforms, the Dzheitune (La...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Karachaganak Partners To Be Fined For Tax Violations
...at it sees as exceeding production targets, and recently announced that it would double its crude oil export duty to $40mn/ton beginning 1 January 2011 (MEES, 6 September)....
Volume: 53Issue: 43Published at Mon, 25 Oct 2010