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Bapco’s Board Approves Plan To Boost Sitra Refinery Capacity To 450,000 B/D
...ve said that the detailed engineering study for the proposed pipeline is to be revealed by Saudi Aramco before the end of 2011. Bahrain Draws Up Plans To Deal With Gas Shortage Bahrain is also drawing up plans to avoid a potential future gas shortage. In the first quarter of 2012 it expects to...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Saudi Arabia Tops WEF Financial Development Index For MENA
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 REGIONAL Saudi Arabia Tops WEF Financial Development Index For MENA Saudi Arabia topped the World Economic Forum’s 2011 Financial Development Index for the MENA countries, jumping three spots and climbing above Bahrain and th...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
AMF Says Priority Is To Assist Arab Countries Rather Than Europe
...nkers in Abu Dhabi. Mr Manna'i also warned that oil prices could drop because of weak economic growth in the world and this will mean that Arab countries would not be in a position to help Europe. Egypt is expecting to receive $470mn in loans in 2011 from the AMF to support its budget deficit. And in...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Suncor And Gulfsands Withdraw From Syria
...idance for 2011 and 2012 because Libyan production is ramping up and was not included in the existing guidance. Suncor and GPC are 50:50 partners in the Ebla Petroleum Company, which is developing the Ash-Shaer and the Cheriffe gas fields in the Syrian central gas basin for supply to the domestic ma...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
CBS Governor Says Syrian Pound’s Black Market Rate Is Imaginary
...cal currency, which had fallen by 16% from the level prevailing in March 2011 at the start of the political uprising. The black market rate of the pound has fallen by more than 20%. He attributed the rise in the value of the dollar vis-à-vis the pound to the steep fall in the value of the euro vi...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Political Comment (19 December 2011)
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Political Comment (19 December 2011) Russia has unexpectedly softened its opposition to Security Council intervention in Syria. As the US prepares to end its military presence in Iraq, President Obama has expressed op...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Federal Oil And Gas Law: Viability, Coherence And Functioning Perspectives
...tween the federal and Kurdistan Regional Government (KRG) delegations held in Baghdad in the last days of October 2011 resulted in an agreement to base their discussions over the federal oil and gas law on the February 2007 version. Detailed assessments of the February 2007 draft of the law have be...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
OPEC Communiqué: 160th Meeting Of The OPEC Conference Concludes
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 OPEC Communiqué: 160th Meeting Of The OPEC Conference Concludes Vienna, Austria, 14 December 2011 The 160th meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Vienna, Au...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Iran Casts Wary Eye On Shared Field As Qatar Celebrates LNG Success
...lks stalled because of a combination of tough terms and growing concerns over sanctions against Iran. According to FGE: Phases 9-10: NIOC targets the start of production by late January 2011. It announced in October 2010 that offshore development progress in these phases is more than 99% co...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Mubadala GE Capital Deploys $2Bn In Its First Year
...pital’s main thrust will be to provide financing to the private sector in the Middle East and Africa, with an initial focus on the GCC and particularly the UAE in 2011. “We see significant future demand for commercial financing opportunities – initially here in the UAE, our home market, then across th...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
OPEC Avoids Rocking The Boat With Seventh Straight Rollover
...onomic growth and oil demand growth as slowing in 2011, but it revised economic projections up both this year and next. Economic “growth for 2010 was revised up to 4.3% from 4.1% on better than expected growth in the manufacturing sector. Growth in 2011 has also been revised higher to 3.8% from 3.6%,” th...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Shuweihat S3 Power Deal Suggests Dip In Financing Costs
...untry Starting Margins (bps)* Tenor (years) Date Completed Shuweihat S3 UAE 175 23 Closing early 2011 Barka-3/Sohar-2 Oman 220 15 Sept 2010 PP11 Saudi Ar...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
IEA Lifts Global Demand Forecast To 87.4Mn B/D In 2010, 88.8Mn B/D In 2011
...Middle East Economic Survey VOL. LIII No 51 20-Dec-2010 SUPPLY/DEMAND IEA Lifts Global Demand Forecast To 87.4Mn B/D In 2010, 88.8Mn B/D In 2011 The International Energy Agency (IEA) ha...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Greek Branch Of South Stream Pipeline To Cost €750Mn
...s been included in the EU’s 2011-20 Development Program of the European Natural Gas Network. The inclusion of South Stream in the EU plan is considered to be a first step towards recognition of the pipeline as a Pan-European Networks Priority Project, which would make it eligible for the funding of...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
VTTI Seeks Expanded Operations Area At Vasiliko Terminal Site
...cember that it will begin construction at the site on 17 January 2011. It has contracted Cyprus’ Joannou & Paraskevaides (J&P) to build the facility. More than €100mn will be invested in Phase 1 development of the project. Phase 2 will expand the terminal’s capacity to 550,000 cu ms and will result in an in...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Egypt Aiming To Attract E£100bn For Infrastructure PPPs
...nistry’s PPP Central Unit, Rania Zayid, as saying. “We expect this approval to come out by the end of this month so we can be in gear in January 2011,” she said. Orascom Construction Industries (OCI) won Egypt’s first PPP project in June 2009. The 20-year concession, awarded to the 50/50 Orasqualia jo...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
NIORDC Sees Gasoline Output Expanding
...y by start-up of the first phase of the upgrade next February and to 16mn liters/day (100,640 b/d) by the end of the next Iranian calendar year (21 March 2011 – 20 March 2012).” Mr Zeighami said that acceleration of work at the Isfahan, Tabriz, Shazand, Lavan, Abadan and Bandar Abbas refineries wi...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Israel Corporation Signs Gas Deal With EMG, Tamar Project Stalled Over Tax Proposal
...emicals, OPC Rotem, IC Power, Dead Sea Works and Oil Refineries Limited. The agreements also contain options to increase supplies to 2.9 bcm/year. The options must be exercised by 31 March 2011, except for one that extends the option to 31 December 2011. The total value of the contract is estimated at $5-...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Adira Energy Begins Search For Israeli Onshore Shale Gas, Starts Offshore 3D Seismic Survey
...sed Adira Energy on 14 December announced that it has started drilling and workover operations on its onshore Eitan unconventional gas license in the Hula Valley in northern Israel. The company will perform three workovers that it expects to complete in January 2011. It will then commence drilling an...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Lebanese Energy Ministry Opens Data Room
...ospects to discover gas in the Lebanese offshore. Last month the minister said that Lebanon expects to launch its first round of offshore licensing bids in October 2011. The ministry held a first workshop on procedures for the implementation of the oil and gas law and plans a second workshop in February 2011...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010