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Zubair And Rumaila Lead Iraqi Capacity Charge
...esentation given to contractors in Istanbul. Worley Parsons and the UK’s AMEC are the favorites to win this contract, a source from a rival engineering firm tells MEES. BP is targeting over 50 wells to be drilled in Rumaila next year. The project’s 2011 work program involves “delineating the main re...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Arabian Project Financing Activity To Step Up In 2011
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 SAUDI ARABIA Saudi Arabian Project Financing Activity To Step Up In 2011 Projects are expected to secure funds, as domestic banks st...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Syria’s 2011 Draft Budget Targets Lower Deficit
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 SYRIA Syria’s 2011 Draft Budget Targets Lower Deficit Syria’s draft budget for 2011 projects a 5.3% reduction in the budget deficit to S£167bn ($3.59bn) from S£176.4bn ($3.79bn) in 2010, with a 15.7% rise in re...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Qatar Delays Barzan Project Due To Domestic Gas Supply Surplus
...mes on stream. Qatar is running a 10% surplus of gas production over demand, although this will drop next year as new power capacity comes on stream, raising domestic consumption to 3bn cfd, MEES learns. Power generation capacity will rise from 7.6gw to 8.8gw in 2011. In the same time as...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
WTI Remains Rangebound In High $80s/B
...mand upward by 130,000 b/d to 87.4mn b/d and by 260,000 b/d to 88.8mn b/d for 2011. It reported OPEC’s November crude oil production as averaging 29.2mn b/d and projected that the ‘call on OPEC crude and stock change’ for 2011 would average 29.5mn b/d, based on higher demand projections. In its We...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
EIA Says Tightening Supply Lends Support To Firming Oil Prices
...partment of Energy has increased slightly its global crude oil demand forecast for 2010 and 2011 in its latest Short-Term Energy Outlook, released on 7 December. The Outlook lifted global demand estimates for this year and next by 20,000 b/d and 10,000 b/d respectively over last month’s figures to fo...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Crude Prices For January Mainly Raised
...im, with UAE crude selling mid-month November in the ADNOC plus $0.50-70/B range. The formulas for January 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L da...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Crude Oil Formulas/Posted Prices
....80 71.20 72.85 75.75 82.65 76.25 72.55 76.05 74.75 77.20 Iran (+ / - Adjustment Factor; $/B) 2011 20...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
S&P Affirms Bahrain Sovereign Ratings
...unterbalance to the high geopolitical risks – relative to many other rated sovereigns – and the Bahraini economy’s vulnerability to external shocks. With oil revenues having been budgeted on the basis of an oil price of $80/B for both 2011 and 2012, S&P reported that it had estimated the general government de...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Russia And Ukraine Amend 2009 Supply/Transit Agreement to Guarantee Exports Increase
...2011. The second and more important agreement consolidates the Russian-Ukrainian rapprochement that followed the election of Mr Yanukovych in February and the conclusion of the Gas for Naval Bases agreement signed in April, which extends the right of stay of the Russian Black Sea Fleet in the Cr...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Kazakhstan Agrees On ONGC Participation In Satpayev Exploration
...ake by February 2011.” A heads of agreement (HOA) was signed in January 2009, but MEES understands that the Kazakh authorities were alarmed by the decision of ONCG’s partner Mittal to withdraw from the original deal in November 2009, despite the fact that ONGC Videsh Ltd (OVL), the international ar...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Azeri Gas Supply To Syria Expected End-2011 Under Updated Agreement
...ess Agency on 6 December that Syria expects to receive approximately 3.5 mn cmd from Azerbaijan by the end of 2011, under an updated agreement signed in Baku between Syrian oil officials and Socar representatives on 23 November. Mr Zainab noted that the construction of the 62km Syrian branch of a ga...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Noble Energy Could Expedite Offshore Drilling Program, Says Cyprus Energy Official
...ergy, which holds the only production sharing contract (PSC) with the Cyprus government, is required in accordance with the PSC to drill one well in Block 12 between October 2011 and October 2013 (MEES, 8 November). However, Mr Kassinis said Noble may decide to move ahead with its schedule in Cyprus on...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 IRAQ Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn The Iraqi cabinet has approved a draft budget for 2011 wi...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
NEPCO Prequalifies Bidders For Jordan’s Third IPP Project
...e in March 2011. Jordan inaugurated in October 2009 its first IPP, the ʹAmman East Power Project (MEES, 2 November 2009)....
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
US Consultancy To Assess Prospects For GCC Nuclear Power Cooperation
...er a six-month period and will be completed by the second quarter of 2011. The GCC formalized the contract with Lightbridge and its partner Exelon Generation Company. The firm will perform a group of studies to identify the relative value and implementation options that could result from regional co...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Kayan Starts Trial Operations At Jubail Phenolics Plant
...0,000 t/y bisphenol-A plant. The majority of the BPA will be used as feedstock for the production of polycarbonates. The polycarbonates unit is planned for trail start-up in the first half of 2011, the company said. In August, Saudi Kayan started seeking extra funds following the rise in capital ex...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Sudan Leaders Agree On Post-Referendum Oil Field Security
...P) and the south’s Sudan People’s Liberation Movement (SPLM). Security arrangements after 9 July 2011 will depend on directives made by the two parties following the declaration of the vote’s result, said Vice-President 'Ali 'Uthman Muhammad Taha and his southern counterpart Riek Machar. The ag...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Russia Prepared To Assist Sudan In Its Efforts To Obtain Debt Relief
...ing “irrevocable” according to the Russian envoy. “After the referendum in South Sudan in January 2011, Russia will be interested in seeing possibilities for economic development emerging both in the south and north of Sudan, therefore we will have to discuss the question of lifting the embargo im...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010