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Ministers Roll Over Ceiling Again, Badri Gets Seventh Year
...asonable price levels for producers and consumers.” OPEC would “swiftly respond to developments that might have a detrimental impact on an orderly oil market,” it vowed. Basket prices have remained over $100/B for all but three months since January 2011 delivering a revenue bonanza, pr...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Petchem Firms Face Saudi Ethane Supply Restrictions
...e of the lowest costs seen for mega projects, following the financial crisis. It was the largest project financing completed last year, priced at 130-200bps across a 16-year tenor (MEES, 19 December 2011). This was close to the 2010 pricing seen for the Aramco/Total 400,000 b/d Satorp export re...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SABIC Strategy Tracks Demographic Trends
...e US. Industrial Cities The petrochemicals giant is also looking to expand downstream. In March 2011 SABIC and the Saudi Industrial Property Authority (MODON) signed an agreement with Boston Consulting Group (BCG) to develop industrialization strategies for the Saudi cities of Al-Jo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Egypt At the Crossroads: A MEES Special Report On Egypt’s Economy And Politics
...v) $26.6bn $35.2bn GDP (annual % change) +3.3 (Q2)* +1.8 (2011)* +5.1 Industrial Production (% chg on year) -4.4 (Se...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Crude Prices
...12 2011 2010 WTI 85.89 87.53 87.68 86.83 89.57 92.21 93...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Turkey Calls For Russian Input In Gas Storage Program
...nister, Taner Yildiz. Speaking on 8 December, he said that by 2019 Turkey plans to construct five to six new underground facilities which can hold 8 bcm, equivalent to almost 18% of 2011’s domestic demand. Turkey’s gas demand has jumped by almost 50% since 2006, driven primarily by its use as a fuel for el...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
RWE Exit Deals Blow To Nabucco West
...bring additional long-term gas transit streams to Germany, adding that the project no longer served this purpose because major gas supplies “could no longer be guaranteed.” RWE was gravely hit by Germany’s decision, following Japan’s March 2011 Fukushima accident, to phase out its en...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Warship Arrivals Renew Iran Ties With Sudan
...06 2007 2008 2009 2010 2011 2012 2013 24 24.9 24...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Iran’s Subsidy Reform: RIP
...ants to individual consumers on the basis of need was found impractical, and everyone in a family was given the same amount of cash (MEES, 20 June 2011). Unhappy about the government’s undue haste in raising prices much faster than provided for in the law, dissatisfied with uniform mo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
IIF Projects 3.5% Drop In Iran’s GDP In 2012
...IRAN IIF Projects 3.5% Drop In Iran’s GDP In 2012 Iran’s GDP in 2012 is expected to shrink by 3.5% from a positive growth of 1.2% in 2011, the Washington-based Institute of International Finance (IIF) has said in a report on the MENA region. The IIF noted that we...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012