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MENA Pushing Solar As Climate Change Talks Start In Doha
...a substantial fall in costs, because of widening deployment and substantial oversupply. The agency’s World Energy Outlook 2012 envisages global solar PV capacity increasing from 67gw in 2011 to 600gw in 2035. Yet in 2035 solar PV will account for only 7.5% of global renewables capacity – half will co...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria Awards Ain Arnat Contract To Korean Firms
...mand growth of 12.3% a year between now and 2017. Sonelgaz noted that demand on the grid outstripped supply in August, with record demand of 10.06gw exceeding the 2011 peak by more than 14% (MEES, 27 August). Sonelgaz was forced to undertake load-shedding over the summer, particularly in the southeast, be...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Iran Still Trying To Sidestep Sanctions
...e largest buyer of Iranian crude, data published by the country’s General Administration of Customs on 21 November indicates a fall of close to 22% in Iranian imports since the beginning of the year. In October Chinese imports were 23.2% lower than the same month in 2011. South Korea’s national oil co...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Qatar Raises $5Bn In Bonds, Defying Unstable Market
...kuk, issued a couple of weeks ago, received 275 bps over mid swaps, and Abu Dhabi Islamic Bank’s five-year $500mn Sukuk was at 245 bps over mid swaps, with the $750mn seven-year Bahraini sovereign at 450 bps over mid swaps (MEES, 28 November). Qatar 2009 And 2011 Bond Issues Ma...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Iran Announces 10,000 B/D GTL Project, But Faces Hurdles
...ES. Currently, South Pars actual gas production is about 7bn cfd of gas – lower than the installed capacity. South Pars sustainable condensate production is estimated at 300,000-310,000 b/d in 2011. South African petrochemical company Sasol, which operates a GTL plant in Qatar, is building a 34...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Japan’s Crude Oil Imports Slip To 3.4Mn B/D For October
...nistry of Economy, Trade and Industry (METI) on 30 November. Year-on-year imports increased by 0.22% from 3.394mn b/d in October 2010. October 2011 crude imports from the Middle East fell by 10.54% to 2.866mn b/d from 3.204mn b/d in September, while year-on-year Middle East crude imports declined by 2....
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Saudi LPG Prices Raised For December
...opane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 50...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Azerbaijan Moves Further Away From Nabucco
...nkable by noting that despite the economic crisis, “DEPA would still produce an annual profit of approximately $130mn this year.” He also noted that EDF, which has owned 67% of Edison since November 2011, is one of the most financially powerful companies in Europe and “remains fully committed to the su...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Iran To Sell Long Term Gas Contract As Bonds
...nominated bonds in the form of “over the counter” gas futures contracts within the current five-year development plan (2011-15). Mr Qalebani said: “Based on this plan, gas to be produced from gas fields will be sold to people beforehand,” adding that the contracts would “allow holders to buy gas at a di...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
NIORDC Blocks Gasoline Exports Due To Winter Demand
...ratorium on gasoline exports due to the early onset of the winter peak demand season. Mr Zeighami said that since March 2011 there have been two gasoline export shipments, which MEES understands were delivered to Iraq. He added: “For now, gasoline is not exported considering the domestic requirement. Gi...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
S&P Downgrades Jordan’s Arab Bank
...vereign risk. Therefore the ratings on Arab Bank PLC are constrained by the local currency ratings on the sovereign. S&P adds that with total assets of $45bn on 30 September 2011, the Arab Bank Group is one of the Middle East’s largest banking organizations. It operates in 30 countries across five continents....
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Oman’s 2012 Budget Foresees 9% Growth In Public Spending
...dgets, 2007-12 (ORMn) 2012 2011 % Change 2010 2009 2008 2007 Revenue 8,800 7,280 +20.9 6,380 5,614 5,400 4,490 Oil Revenue - 4,...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Many MENA Countries Slipping In 2011 Corruption Index
...Middle East Economic Survey VOL. LIV No 49 5-Dec-2011 REGIONAL Many MENA Countries Slipping In 2011 Corruption Index Many MENA countries are slipping backwards and failing to tackle corruption, the latest Corruption Perceptions Index from Transparency International reveals. Pu...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
RC Sees Saudi GDP Boosted By Government Spending And Then By Oil Prices
...onomic boost from the initial round of government spending has ended, although increased oil exports have provided a significant lift in the second half of 2011. “This trend,” says the report, “together with global oil market trends for the rest of the year has caused us to sharply raise our economic gr...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Political Comment (5 December 2011)
...Middle East Economic Survey VOL. LIV No 49 5-Dec-2011 Political Comment (5 December 2011) The Arab League and Turkey have imposed sanctions on the embattled Syrian regime. Islamists have formed coalition governments with secular parties in Tunisia and Morocco, and are leading in...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Explanations Of The Recent Higher Oil Prices
...planation of the current price of nearly $100/B. Another explanation is strong economic growth in China, the fastest growing economy in the world, which may soon exceed 10%. China is consuming more than 10mn b/d of oil in 2011. It is expected to consume close to 12mn b/d in the next two years, an ex...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Battle Under Way For Control Of Iraqi Oil Portfolio
...l is vital and everyone is assuming that it will be reached. “On Tuesday [30 November], the cabinet reviewed and approved the budget,” oil ministry spokesman 'Asim Jihad tells MEES. “They have now handed it to parliament for approval. The 2011 budget will be based on an oil price of $73/B and oil ex...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Gulf Poised For 2011 Hike In Bond Issues
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 GCC/REGIONAL Gulf Poised For 2011 Hike In Bond Issues The MENA region and particularly the GCC saw robust debt market activity th...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
GCC Power Grid Project Nears Completion
...stem – Kuwait, Saudi Arabia, Bahrain and Qatar – to the Southern System – UAE and Oman. Completion is expected in 2011. The total investment of the mega-grid, launched in 2009, is about $1.6bn. The regional grid has seen some power transfers since it was launched, mainly between Bahrain, Qatar and Ku...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Crude Oil Formulas/Posted Prices
...haran Blend (44°) +0.93 +0.95 +1.15 +1.15 +1.15 +0.85 +0.20 +0.10 +0.20 +0.80 +0.90 +0.60 +0.70 Oman ($/B) 2011 2010 Jan Dec No...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010