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Noble Assesses East Mediterranean Prospects, Puts Aphrodite At 3-9 TCF
...800ms (MEES, 26 September). In a report released prior to its 2011 analysts conference in Houston, Noble gave an update on its current status of operations in the eastern Mediterranean, where it has made significant discoveries at the Tamar and Leviathan fields offshore Israel and has worked to en...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
Jordan Concerned About Irregular Supply Of Egyptian Gas
...ed 300mn cfd for regular operation. The country’s budget deficit has risen sharply in 2011 because of the fall in the supply of Egyptian gas and the need to replace it with more expensive fuel oil for power generation, and the energy bill is expected to rise to a record level of around JD4bn ($5....
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
Kuwait Inflation To Average 4.7% In 2011, Says NBK
...Middle East Economic Survey VOL. LIV No 47 21-Nov-2011 KUWAIT Kuwait Inflation To Average 4.7% In 2011, Says NBK Consumer price inflation (CPI) will average 4.7% for 2011 and stay steady, moving slightly lower to 4.4% in 2012, said National Bank of Kuwait in its latest Ec...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
JBIC Hikes Funding To MENA Region
...rgest amounts in 2010 (the fiscal year ends 31 March 2011) were provided to UAE, Egypt, and then Saudi Arabia (see table). In addition to general loan and investment commitments, in 2010 the Japanese export credit agency (ECA) also provided buyer’s credit and bank-to-bank loans. This comprised $200mn fo...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
More EU Sanctions On Syria
...ntures operating in Syria to cut production. Another smaller producer in Syria, INA of Croatia, reported last week that its Syrian partner had not paid a monthly installment for September which was due at the end of October. But independent American company IPR said that during the third quarter of 2011...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
Shams 1 Solar Project Set To Start By 3Q12, Masdar Says
...ptember 2010). Masdar Launching Seychelles’ First Wind Farm By Year-End Meanwhile, the Seychelles’ ambassador to the UAE Dick Patrick Esparon recently told UAE state news agency WAM that Masdar is set to inaugurate the Seychelles’ first wind farm by the end of 2011. Mr Esparon said the project – be...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
Gazprom And BEH Establish South Stream JVC
...adimir Putin, who said that Bulgaria “would profit enormously” from the deal. Mr Putin also promised to review existing gas supply contracts with Sofia, which are set to expire in 2011 and 2012, in order “to further reduce the final cost for consumers.” Mr Borisov stressed the potential economic be...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Socar Sees Shah Deniz 2 Gas Agreements By Mid-2011
...ld a press conference in Baku on 13 November that gas purchase agreements for the second production phase of the Shah Deniz field are expected to be signed by the middle of 2011. Mr Abdullayev confirmed that Socar was also in talks with Turkey’s Botas for the export of 6 bcm/year from Shah Deniz 2, wh...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Egypt Lines Up Bidding For Dairut IPP
...dding requirements to the 10 companies it has pre-qualified for a tender to build its first thermal power plant, according to reports. The companies, short-listed from a group of 19 that applied to bid, are expected to submit their final offers in early 2011. The contract for the independent power pr...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
CBI Statistics Show 19.7% Fall In Oil And Gas Exports Revenue In 2009-10
...an will have to pay $11.621bn in 2010-11, to be followed by subsequent annual payments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1389 (2010-11) 11.621 1390 (2011-12) 2.274 1391 (20...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Jordanian Government Outlines 2011-13 Development Priorities
...Middle East Economic Survey VOL. LIII No 47 22-Nov-2010 JORDAN Jordanian Government Outlines 2011-13 Development Priorities Jordan’s Ministry of Planning and International Co...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Lebanon’s $725Mn Eurobond Three Times Oversubscribed
...cond week of November, was three times oversubscribed, the Ministry of Finance announced in a statement on 12 November. The ministry said that the issue, arranged by Bank of Beirut and Credit Suisse, consisted of two tranches – $500mn maturing in 2018 with a coupon of 5.15% and $225mn maturing in 2011...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Healthier Economy And Upcoming Mortgage Law Sustain Saudi Real Estate Sector
...rst quarter of 2011 has energized demand for land and finished properties as buyers hope the regulatory framework will unleash pent-up demand in the coming years,” said the report. Saudi Arabia’s property sector has exhibited much stronger price resilience to the global and regional economic do...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Syria’s Development Plan Targets 5.7% GDP Growth Annually
...velopment plan (2011-15) which is intended among others to focus on social development, boost investment in human capital, support health and education and the social safety net, improve the livelihood of people, and create job opportunities. It is designed to complete the process of economic reforms un...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Gulfsands Awards Khurbet East Processing Plant Contract To Saipem
...e Massive formation (MEES, 1 November). Meanwhile, Gulfsands says that a 3D seismic acquisition covering 1,025 sq km just west of the Greater Khurbet East area is 80% complete, with delivery of the final processed data earmarked for the first quarter of 2011....
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
DEWA Gears Up For First IWPP
...2011. It is expected to be the inaugural project in a series of IWPPs along the lines of the power and water development seen in Abu Dhabi, which has a well-established program. The first IWPP will have a capacity of 1.5gw (plus or minus 100mw) and produce 60-120mn gallons/day of desalinated wa...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Moody’s Upgrades DP World Rating Outlook To Positive
...uld continue strengthening alongside the company’s recent public commitments to prioritize deleveraging; DP World’s intention to refinance the $3bn syndicated revolving credit facility maturing in October 2012, over 2011; and a debt restructuring agreement for its direct parent company, Dubai Wo...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Iran Rejects UN Nuclear Fuel Supply Proposals
...richment facility in the city of Qom, which would be commissioned by 2011. However the agency said that the belated revelation of the new uranium enrichment site might mean that Iran is hiding further nuclear activity. Iran maintains that the Qom facility constitutes a back-up option in case the first en...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Syria Inaugurates Gas Projects
...eppo to Kilis is currently under construction and is due for completion by early 2011, while the second from Aleppo will be built in the future when more gas becomes available, Mr 'Alaw said during the inauguration ceremony. At present however Syria could use the existing pipeline network Homs-Pa...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
BP Says New Shah Deniz Discovery ‘Potentially Significant’
...e fourth corridor for gas supply to Europe will be made.” Azerbaijan has forecast gas production to reach 32.41 bcm/y in 2011 (MEES, 12 November, 15 October). Shah Deniz Gas Reservoirs Source: BP Azerbaijan. Azerbaijani gas exports to Europe would be made via the South Caucasus Pi...
Volume: 50Issue: 47Published at Mon, 19 Nov 2007