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MENA Defense Spending As Percentage Of GDP Sees First Upturn In Six Years
...e previous year’s figure of 4.71%, according to the 2011 edition of the Military Balance, compiled by the London-based International Institute for Strategic Studies (IISS). With this, the MENA region has once again reclaimed its position as the biggest global spender on defense as a percentage of...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Saudi Crude Prices Mainly Reduced For May Deliveries
...s selling at Dubai plus $0.50-0.60/B in mid-March and Lower Zakum at ADNOC plus $0.40-0.50/B. Earlier in the month, Oman sold at Dubai plus $1.00/B and Murban sold at ADNOC plus $0.15-0.20/B. The formulas for May 2011 and the previous 12 months for deliveries to the US, Europe and the Far Ea...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Mar Feb Jan Dec Nov Oct Sep Aug Ju...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Capital Intelligence Downgrades Bahrain’s Ratings
...ternal creditor position. The ratings agency said it is concerned that the government may find it difficult to reverse temporary spending increases, particularly if political tensions linger, and that this will make the budget more vulnerable to oil price volatility. The price needed to balance 2011...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
TAP And BH-Gas Sign Agreement To Explore Gas Supply Options
...February 2011. Plinacro and BH-Gas are backing the proposed Ionian Adriatic Pipeline (IAP), which would deliver gas to Croatia, Bosnia and Herzegovina, Montenegro and Albania through an outlet from the TAP system. The IAP would also carry gas from the Caspian region and Middle East to Europe, vi...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran’s Inflation Rate Edges Up To 12.4%
...4% in the new year from 3% last year. According to the 2011-12 budget bill, which is still being debated in parliament, the reduction in subsidies will generate some IR600 trillion ($58bn) in increased revenue, 50% of which will be paid back to people in the form of handouts, 30% will be al...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran Sets 2011-12 Gas And Gasoline Targets
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 IRAN Iran Sets 2011-12 Gas And Gasoline Targets Iran’s Deputy Minister of Petroleum Mohsen Khojasteh-Mehr told reporters on 5 April that the country had set targets for the increase of gas production and for gasoline exports in...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Iran And Azerbaijan Still Negotiating Price For Iranian Gas Imports
...ar to around 1 bcm/year beginning 2011, with the prospect of reaching a maximum of 5 bcm/y by 2015 (MEES, 17 January). The contract had stipulated that exports would start once the upgrading of the Astara compressor station was completed. Mr Abdullayev said that “negotiations between the te...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Jordan Announces Price Increases For Most Petroleum Products
...6.5 ($9.17) per cylinder. Product prices are set monthly by a committee comprising members from the Ministry of Energy and Mineral Resources, the Ministry of Finance and the Jordan Refinery Company (JPRC). The latest price list will apply until 2 May. Product Prices Effective 1 April 2011 (Fils/Li...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Qatar Maps Out 2011-16 Growth Plan
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 QATAR Qatar Maps Out 2011-16 Growth Plan Qatar has revealed details of its development strategy and forecast for economic growth in 2011-16, after Qatar’s Crown Prince Shaikh Tamim bin Hamad Al Thani unveiled the plans on 28...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Political Comment (11 April 2011)
...Middle East Economic Survey VOL. LIV No 15 8-Apr-2011 Political Comment (11 April 2011) In Libya pro and anti-Qadhafi forces appear for the moment to be locked in a military and political stalemate As bloodshed continues in Yemen, the GCC is seeking to mediate between su...
Volume: 54Issue: 15Published at Mon, 11 Apr 2011 -
Egypt’s Ghurab Prepares For Oil Industry Restart
...e becoming an ever more critical issue. “This financial year [1 July 2010-30 June 2011] we estimate we will spend £E82bn ($13.6bn) in subsidies,” the senior Egyptian oil source says. “We can’t afford that. We can deal with £E50bn…no more,” he adds. The finance ministry “just says ‘you sort it ou...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Halliburton Announces Manifa Development Acceleration
...e to come on stream in 2011, but as costs escalated and projections on the call on Saudi crude were drastically reduced in the wake of the global financial crisis, the project was delayed. Saudi Aramco’s Annual Review 2009 stated that Manifa would come on stream in 2013 at 500,000 b/d, with the fu...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
LNG-Powered Vessels – A Potential Game Changer In Shipping
...wered vessels in operation – mainly smaller vessels in Norway. By the end of 2011 the first ocean-going LNG powered chemical tanker will begin operations. Large container vessels and cruise ships are expected to follow. The growth in international gas-fuelled shipping is held up by the lack of in...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
WTI Crude Tops $106/B With Continued Fighting In Libya
...terview with the Financial Times on 30 March, Fatih Birol, chief economist at the International Energy Agency in Paris said high oil prices had begun to hurt the global economy and expressed his concern for the economies of the OECD countries, especially Europe. He noted that OPEC revenues during 2011 wo...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Japanese Crude Oil Imports For February Decline From Previous Month
...nistry of Economy, Trade and Industry (METI) on 31 March. Year-on-year, Japan’s February 2011 crude imports rose by 3.38% from 3.757mn b/d in February 2010. Crude oil imports from the Middle East declined by 0.60% in February to 3.474mn b/d compared to 3.495mn b/d in January. Year-on-year, Japan’s im...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Saudi LPG Prices Raised For April Deliveries
...ange Propane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 50...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 14 1-Apr-2011 Crude Oil Formulas/Posted Prices ($/B) Oman ($/B) 2011 2010 May Apr Mar Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Calik Enerji Wins Contract To Build 750MW Gas-Fired Power Plant Near Mosul
...sul. The company is expected to complete building the 750mw, six-turbine plant in 20 months. This is the second Iraqi power project won by Calik in 2011. In January the company announced it had won a $445.5mn contract to build the al-Khairat gas-fired combined cycle power plant near Karbala. The 1....
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Kuwait Launches Tender For Al-Zour North Power Plant
...ggest projects. Sixteen international companies had been pre‐qualified in February for bidding (MEES, 14 February). The Partnerships Technical Bureau (PTB), which oversees the IWPP process in al‐Zour, expects to receive the bids before the summer to be able to award the project in 2011. Al‐Zour No...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011