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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 -
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 -
Syrian Government Debut Treasury Bills Twice Oversubscribed
...anche consisted of 91-day TBs for S£1bn ($21.5mn), dated 16 December with maturity on 17 March 2011, and 1% “indicative” interest. The issue, which was 2.8 times oversubscribed, went to four state banks out of a total of 11 local banks taking part in the auction and the offered interest rates ranged be...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
TAQA Secures $3Bn Revolving Credit Facility
...s on the five year facility. The loan refinances a facility expiring in 2011. In May this year TAQA refinanced a C$1.325bn ($1.26bn) revolving credit facility for its wholly owned TAQA North subsidiary (MEES, 31 May). S&P Rates TAQA Again, Assigns A Standard & Poor’s Ratings Services an...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Yemeni Cabinet Approves 2011 Draft Budget Aimed At Reducing Deficit
...Middle East Economic Survey VOL. LIII No 51 20-Dec-2010 yemen Yemeni Cabinet Approves 2011 Draft Budget Aimed At Reducing Deficit Yemen’s cabinet has approved a draft state budget for fi...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Bulgaria In Negotiations To Buy Egyptian Gas From 2011
...Middle East Economic Survey VOL. LI No 51-52 22/29-Dec-2008 EGYPT Bulgaria In Negotiations To Buy Egyptian Gas From 2011 Bulgaria’s Minister of Economy and Energy Petar Dimitrov was quoted by local media on 4 December as saying that Bulgaria was negotiating the supply of up to...
Volume: 51Issue: 51Published at Mon, 22 Dec 2008 -
Caspian Services Begins Phase 1 Work On Bautino Marine Facility
...TIC Group sold 50% of Karazhanbasmunai to state-owned KazMunaiGaz Exploration and Production (KMG EP) earlier this year (MEES, 22 October). The oilfield has proven reserves of 363.8mn barrels. Production is around 45,000 b/d and target production is set to double by 2011. KazMunaiGaz an...
Volume: 50Issue: 51Published at Mon, 17 Dec 2007 -
Citadel Refinery Financing Progresses, Pathfinder Banks To Be Appointed
...ope because it includes a coker to optimize diesel production. It is 85% owned by Citadel with Egyptian General Petroleum Corporation (EGPC) holding the remainder, and the two have formed a holding company, Egypt Refining Company (ERC). It will start up in 2011 producing 2.2mn tons/year of diesel (in...
Volume: 50Issue: 51Published at Mon, 17 Dec 2007 -
SPLM Agrees To Rejoin National Unity Government As Talks Resume
...ke place in 2009, and the referendum on unity, scheduled for 2011. ...
Volume: 50Issue: 51Published at Mon, 17 Dec 2007 -
Kazakhstan And China Inaugurate Crude Oil Pipeline
...zMunaiGaz, which put the cost of the project at $806mn. Deliveries of Kazakh oil from the central Kumkol district should arrive at the Chinese border by the middle of 2006. The project calls for capacity to be increased to 20mn t/y (400,000 b/d) by 2011 and at some point the pipeline may be used to tr...
Volume: 48Issue: 51Published at Mon, 19 Dec 2005