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Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Au...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
KMG EP Warns Strikes May Force Drop In 2011 Production
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN KMG EP Warns Strikes May Force Drop In 2011 Production KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of KMG, announced on 27 July that continuing strikes by oil workers at the Uz...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
BG Chairman Says KPO Dispute to Be Resolved by 2011
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 CASPIAN BG Chairman Says KPO Dispute to Be Resolved by 2011 BG Group Chairman Frank Chapman on 26 July said he expects to see BG’s one and a half year dispute with KazMunaiGaz over its participation in Karachaganak Pe...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
SOCAR To Discuss Oil Exports To Slovakia And Czech Republic
...r west as Poland, Germany and Central Europe to include Slovakia, the Czech Republic and Hungary. In April 2011 Sarmatia’s CEO, Sergiy Skrypka, announced that an extension of the Odessa-Brody pipeline to the Polish pipeline system in Adamowo could cost around €577mn of which €125mn would come from th...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Vasilikos Repairs Could Reach €2Bn, EU Experts Say
...tages caused by the destruction of the plant, the ratings agency reduced its forecasts for Cyprus economic growth to 0% in 2011 and 1% in 2012....
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
South Pars to Reach 285Mn CMD By March 2012
...the project’s development within the first half of 2011. NIOC’s warning followed CNPC’s decision to inform NIOC that it “has been facing financial problems to provide the $5bn required investment for the project (MEES, 27 June)....
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Hess, Petroceltic Swoop To Take KRG Blocks
...8.75mn covers the Bardarash purchase, of which $63mn cover back costs. Afren bought the 20% KRG stake in Ain Sifni for $169.5mn and it “is inclusive of approximately $18mn of back costs and $14mn of 2011 capital expenditure.” Ain Sifni lies in territory in Nineveh province, controlled by Kurdish Pe...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Baghdad Eyes Bumper 2011 Oil Revenues
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 IRAQ Baghdad Eyes Bumper 2011 Oil Revenues Buoyant oil prices and rising crude exports from both South and North look set to deliver a much needed shot in the arm for Iraq’s economy. Revenues for the first half of th...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Kuwait’s Economy Recovers, But Further Reforms Needed, Says IMF
...still subject to both internal and external risks. Consequently, IMF directors stressed as part of their 2011 Article IV consultation the need for further institutional, fiscal and financial reforms. “Real GDP growth in 2010 is estimated at 3.3%, comprising oil growth of 3.2% and non-oil gr...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
UN Envoy Urges Lebanon, Israel To Move Ahead With Offshore Exploration
...rhaps enable them to move forward on other issues.” Meanwhile, the US stated that it will not become involved in the dispute, according to Abu Dhabi’s The National. “The US notes that Lebanon in October 2010 and Israel in July 2011 have submitted to the UN claims to their adjacent exclusive economic zo...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 syria Syria Spent $2.5Mn Subsidizing Petroleum Products In 1H 2011 The Syrian government has spent a total of S£117bn ($2.5mn) on subsidizing petroleum products in the first half of the year, the managing director of...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
Political Comment (1 August 2011)
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 Political Comment 1 August 2011) Iraqi politicians are expected shortly to end months of dithering and decide whether to ask US troops to stay beyond the end of 2011. Iraq and Kuwait are at loggerheads again – over the bu...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
MENA And Carbon Capture
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 MENA And Carbon Capture By Robin M. Mills Mr Mills is a Dubai-based energy economist, and author of Capturing Carbon (Hurst/Columbia University Press, 2011) and The Myth of the Oil Crisis (Praeger, 2008). He can be re...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
MEES Agenda: Oil Revenue Accusations Fly In Run-Up To Sudan’s Election
...yment in Sudanese pounds was a “sinister” trick to destabilize the south’s economy ahead of a 9 January 2011 vote on whether the south should secede from the north. The central bank, however, refuted the claims. “It has never once happened, since the signing of the peace deal in 2005, that the south’s sh...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Crude Prices Slip Further But Remain Above $70/B
...ompted Barclays Capital to adjust its crude price forecast downward to $78/B for WTI in 2010 and $85/B for 2011, respectively $4/B and $7/B lower than its previous forecast. “Following the [US Federal Open Market Committee] statement which reinvigorated the short oil macro theme last week,” Barclay’s Ca...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
CGES Sees Crude Demand Rising But Growth Rate Slowing
...e pace of the increase is likely to slow in the second half of 2010 and in 2011 from the levels seen in the first half of this year, the Centre for Global Energy Studies (CGES) said in its latest Monthly Oil Report (MOR), released on 23 August. This is due in part to the fact that in the first half of...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Second Pipeline Of Central Asia-China Gas System Nears Completion
...ported on 20 August. Line B is scheduled to be operational by the end of September, and will add an initial 9 bcm/year of capacity to the Central Asia-China system, which is intended to reach a throughput capacity of 30 bcm/year by the end of 2011. The 1,833km pipelines connect Turkmenistan’s gas fields al...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Saudi Inflation Rises To 5.5% In June
...ivate sector bank credit”, says the report. Loans worth an estimated SR73bn ($19.47bn) should be booked by banks in the second half and into the first months of 2011. Saudi banks have raised their foreign assets by 13.2% since January in preference to overnight deposits with the Saudi Arabian Monetary Ag...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Emirates Steel Signs $1.1Bn Project Financing Agreement
...reement on 24 August with a consortium of seven conventional banks and two Islamic finance institutions. The financing will partly fund an ongoing $2.45bn expansion and upgrading program that will raise ESI’s steel production capacity from 2mn tons/year now to 3mn t/y in 2011. Official news agency WAM re...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
KRG Investors Maneuver Ahead Of Hoped-For Oil Breakthrough
...w wells. The UK-based independent aims to drill three appraisal wells and one exploration well through to early 2011. Sources say Korea’s state-owned KNOC has also discovered gas, but testing has not been completed. And UK independent Sterling Energy tested for gas at its first well, but had to stop dr...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010