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Bahrain SWF Will Hold $275Mn By End-2011
...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Bahrain Bahrain SWF Will Hold $275Mn By End-2011 Bahrain’s Future Generations Reserve Fund (FGF) will have accumulated $275mn by the end of 2011, according to projections by the Bahraini Ministry of Finance. The so...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Moody’s Reaffirms Negative Outlook For Bahrain Banking System
...d 3% for 2011 and 2012 respectively, representing a dip from the 4.5% growth posted in 2010 and the 6-8% growth achieved during 2006-08. “Given our growth forecasts, asset quality pressures are likely to increase, particularly for loans originated to the tourism and retail trade sectors where the po...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Finance Minister Survives Impeachment Vote
...ency reported on 30 October. The report said the company’s financial assets had increased in value from $50,000 in 2005 to almost $3.5bn in 2011. Mr Amir Khosravi has reportedly flown to Montreal. Former Melli Bank chairman Mahmoud Reza Khavari, who is at the center of the scandal, later flew to To...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Iran Plans Electricity Interconnection With Russia
...id that during the first half of the current Iranian year (21 March 2011 – 20 March 2012) Iran’s power exports to neighboring countries amounted to 4bn kwh. “Iran currently exchanges electricity with Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan, and Iraq,” Mr Behzad said. “Th...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Israel Contracts Italy’s Micoperi For Offshore LNG Terminal
...rst three quarters of 2011 more than doubled from the same period during 2010 to 358,000 tons. During the third quarter alone, IEC burned some 307,000 tons. By the end of 2011, Israel’s gasoil demand is expected to reach 600,000 tons and account for 15% of the electricity generated. The Ministry of...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Ukraine To Relaunch LNG Project
...ev was planning to relaunch in early 2011 a plan to construct the country’s first LNG regasification terminal that “will allow [by 2016] 10 bcm/year of gas or 20% of our gas balance to be imported.” He said that he project is estimated to cost around $4bn and will be developed on a build-own-op...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Noble Energy To Drill Offshore Cyprus After October 2011 Under PSC Terms
...Middle East Economic Survey VOL. LIII No 45 8-Nov-2010 CYPRUS Noble Energy To Drill Offshore Cyprus After October 2011 Under PSC Terms MEES learns that Noble Energy is obliged un...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Kuwait Struggles To Boost Gas And Northern Fields Condensate
...the first quarter 2011, he said, and 600mn cfd by 2013 – on target with the original schedule. Shell joined the project under an Enhanced Technical Service Agreement earlier this year. Doubts remain, however, about whether the project, which has been delayed three years, will meet the de...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Oman Bases 2011 Budget On $58/B Oil
...Middle East Economic Survey VOL. LIII No 45 8-Nov-2010 OMAN Oman Bases 2011 Budget On $58/B Oil Oman’s 2011 budget will be based on an oil price assumption of $58/B, according to a de...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Shell Marks Progress On Offshore Installations For Pearl GTL Project
...d will be left unmanned during normal operations, with all natural gas processing occurring onshore. Shell expects to get first production from the first of its two 70,000 b/d GTL trains by early 2011, using gas from the North Field. Full operations are expected to commence by 2012, at which po...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
APICORP Posts 42% Net Income Rise In First Nine Months
...id. “We see MENA energy capital investments recovering quickly from the post-crisis contraction with investment potential rising to $615bn in the 2011-15 period.” The bank’s first bond denominated in Saudi riyals, of SR2bn ($533bn) value, was oversubscribed by three times in October (MEES, 25 Oc...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
No Role For Iran In Nabucco, Says RWE
...ippers on a binding basis is expected to be commenced in the first half of next year. It added that a final investment decision is expected at the end of 2010 and that currently costs for construction of the 3,300km pipeline are estimated at approximately €8bn. Building is planned to begin in 2011 an...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Nabucco Begins Dialogue With Lenders, Says Mitschek
...tschek said, adding that the talks are aimed at determining the key financing parameters and other important project decisions. The 31 bcm/year capacity, 3,300 km gas pipeline is estimated to cost €8bn. A final investment decision is expected in 2010 and construction should begin in 2011. “The mo...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Economic Outlook Positive But Private Investment Low, Economists Say
...owth at 3.6% and 4.7% in 2010 and 2011, according to its base case estimates, amid rising oil production, stronger domestic demand on the back of the government’s expansionary fiscal and monetary policy, and a gradual resumption of credit growth. Morgan Stanley also expects inflation to de...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Somali PM Announces Piracy Eradication Effort
...Middle East Economic Survey VOL. LII No 45 9-Nov-2009 SOMALIA Somali PM Announces Piracy Eradication Effort The Prime Minister of the Transitional Federal Government (TFG) of Somalia, 'Umar 'Abd al-Rashid 'Ali Sharmarke, has announced a plan to eradicate Somali piracy by 2011...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
100% Kuwaiti Employment In KOC Would Leave Oil Sector Isolated From World
...reement on developing heavy crude oil deposits in the emirate, with a production target of 50,000 b/d by 2011, 250,000 b/d by 2015 and 700,000-900,000 b/d by 2020 (MEES, 29 October)....
Volume: 50Issue: 45Published at Mon, 05 Nov 2007 -
North Field Moratorium Could Extend To 2012, Says Suwaidi
...tablish the capacity of the field and decide whether we will want to continue upstream projects. So at this moment we are not sure which way it will go. We need to wait until 2011, 2012 before the study is finished. This is something very positive. We are trying to protect the existing projects and we’re...
Volume: 50Issue: 45Published at Mon, 05 Nov 2007 -
Foster Wheeler Awarded FEED/PMS Contracts For Manifa Project
...0,000 End-2008 17 April Nuayyim 100,000 2008 25 April 2005 Khurais 1,200,000 2009 6 March Manifa 900,000 2011 6 No...
Volume: 49Issue: 45Published at Mon, 06 Nov 2006