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TAP Open To Shareholder Restructuring After Shah Deniz 2 Decision
...at Azerbaijan’s state firm had reached an agreement with Russia’s Gazprom over the further expansion of Azeri gas exports to 3 bcm/y in 2012. In November 2011 Russian imports reached a rate of 1.36 bcm/y, a 70% increase over the same time last year. Imports are expected to increase at a rate of 2 bc...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...PC) and soft loans from the Chinese Development Bank. An intergovernmental agreement on the export of Uzbek gas to China was signed in 2010 while the commercial agreement between PetroChina and Uzbekneftegaz was initialed in October 2011. The agreement stipulates that gas exports will start at 10...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Iran Admits To Fall In Oil Output As EU Discusses Crude Embargo
...lebani as saying on 19 December. Though he chose not to provide any figure for the fall in output, MEES estimates show that average production in Iran has dropped from 3.737mn b/d in 2010 to 3.599mn b/d in 2011. Mr Qalebani’s revelation is the latest in a line of warnings from Iranian officials in re...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...d public finances next year. Dr Tuqan noted that as of the start of 2011, Jordan had encountered more challenges with the rise in the international price of basic commodities, especially energy and foodstuffs, and the irregular supply of natural gas from Egypt. In addition the political turmoil in...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Syrian Parliament Approves 2012 Budget Bill
...ice assumption of $75/B for Syrian light crude and $65/B for heavy crude. The steep increase in public spending of 58.8% over 2011 is due to a change in the accounting system with regard to the classification and logging of expenditure, the Syrian Minister of Finance Muhammad Jleilati explained la...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
APICORP Signs Deal For Fujairah Storage Terminal Financing
...untries. APICORP is a multilateral development bank owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), with the UAE government holding a 17% stake. Mr Nuaimi said: “In 2011, APICORP has participated in $11bn worth of project finance and trade transactions, of...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Dragon Oil Completes Infrastructure Upgrade On Cheleken Block
...tronas’s reserves of 150 bcm, could be available for export to Europe by 2011 if Turkmenistan and Azerbaijan reach an agreement on construction of a 200km Trans-Caspian pipeline (MEES, 29 November)....
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
CBJ Raises Minimum Capital Requirement for Banks
...the kingdom. In an announcement made that day, the newly appointed CBJ Governor Faris Sharaf directed those banks whose capital levels did not meet the new requirements to suggest ways on how to recapitalize to reach the target levels before the end of the first quarter of 2011. The decision, th...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
S&P Sees Qatar’s 2022 World Cup Funded Without Significant Sovereign Debt Hike
...a lower, although still substantial, surplus in the government’s budget at above 7% of GDP in 2011-13,” Mr Marchand added. Additional moderate borrowing is possible as has already occurred via government guarantees, according to S&P....
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
Crédit Agricole Sees Two-Speed Recovery In 2011, Favoring Oil Producers
...Middle East Economic Survey VOL. LIII No 52 27-Dec-2010 REGIONAL Crédit Agricole Sees Two-Speed Recovery In 2011, Favoring Oil Producers Most oil exporters in the MENA region will experience higher GDP growth in 2011, with oil importers likely facing declines as a result of de...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
Saudi Annual Inflation Rate Remains Unchanged at 5.8%, Says SAMA
...untries have begun rising again. Inflation however, is expected to remain low, and in single digits. Analysts polled by Reuters have forecast average Saudi inflation figures of 5.3% and 5.1% for 2010 and 2011 respectively – still considerably lower than the record high of 11.1% in the summer of 2008. Mo...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
SABIC Board Recommends Distribution Of Dividends For 2H10
...ril 2011. “The total recommended dividends to shareholders for 2010 is SR10.5bn ($2.8bn) at SR3.5 ($0.93)/share,” SABIC said in a statement on the company website. For the first half of 2010, SABIC has already approved the distribution of SR4.5bn ($1.2bn) to shareholders at SR1.5 ($0.40)/share....
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
BAPline Partners Form Project Company
...necessary and that negotiations should be directly with Russia and Gazprom. Kazakhstan’s Eurasian Natural Resources (ENR) on 19 December started up in Pavlodar a $900mn aluminum smelter which will reach its 250,000 tons/year capacity in 2011. Construction of the plant began in 2005. ENR is...
Volume: 50Issue: 52Published at Mon, 24 Dec 2007 -
Daelim/JGC Win EPC Contract For NCP Petchem Project
...hylene, propylene, polyethylene, polypropylene, polystyrene and 1-hexene. Construction will begin in January 2008, with project completion expected in early 2011. Commercial production is scheduled to begin in September 2011. JGC will perform the EPC services for the 1.2mn tons/year cracker, 20...
Volume: 50Issue: 52Published at Mon, 24 Dec 2007 -
UACC Orders Eight Chemical Tankers From South Korea’s SLS Shipbuilding
...ght chemical tankers, with an option for an additional two 45,000 dwt IMO II chemical tankers for delivery in 2011. UACC said it aimed to develop a fleet of medium-to-long range product tankers to serve the shipping needs of the expanding oil refining and chemical industries of its home region. UA...
Volume: 50Issue: 52Published at Mon, 24 Dec 2007