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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 -
Egyptian Refinery Takes Top Spot In African Project Financing
...lyethylene, methanol and ammonium nitrate projects (MEES, 1 March). The ammonium nitrate project is expected to secure financing this year, with the other two looking to approach lenders in 2011 or 2012. While they will focus on export markets, the sponsor hopes that they will ultimately provide feedstock for fu...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
OPEC Warns Of Second Half Slowdown
...ude Oil Production 28.71 29.18 29.10 Balance -0.27 0.95 1.40 Totals may not add up due to independent rounding. OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Rosatom Schedules Loading Of Fuel At Bushehr Nuclear Plant
...at time Bushehr should be able to generate 500mw of power. Full generating capacity of 1.0gw is expected to be reached in early 2011....
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
NBK Says Kuwaiti GDP Recovery On Track After Sharp Fall In 2009
...r GDP to grow 18% this year – by 3.0% in real terms and a stronger 4.3% in 2011. The improvement should come as more large projects come on line. (Official figures for real GDP in 2009 have not yet been released).” With oil representing 46% of GDP in 2009, NBK says the Kuwaiti economy still needs to...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Lebanese Parliament Ratifies Offshore Hydrocarbons Law
...fshore Israel and plans to soon begin exploration in the Leviathan structure, where potential reserves are estimated at 16 trillion cu ft (MEES, 16 August). The new law is intended to regulate the process of surveying, exploration and production of hydrocarbons in the offshore. By the end of 2011, Le...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Nareva Awarded Morocco Wind Park Construction Contract
...the project and construction start and end dates would be revealed in the coming weeks. The facility is expected to be completed by the end of 2011 and is part of a wider MD31.5bn ($3.64bn) program to install 2.0gw of wind power capacity by 2020. The kingdom plans for renewable energy to make up to...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
China To Build Four Large Ships For Oman
...pected to be delivered in 2011 and the remaining two in 2012. The agreement was signed by the Omani Minister of National Economy Ahmad Makki and the chairman of the bank Li Ruogu. Mr Makki said that he looks forward to more participation by Chinese companies in Omani projects already underway, such as th...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
GDF Suez/IP Merger Gives Company 14.7GW Combined Middle East Power Capacity
...GDF Suez Bahrain Al-Dur 1 1,230 50 2011 Bahrain Al-Hidd* 938 30 2007 Bahrain Al-Ezzel 950 45 2006 Saudi Arabia Marafiq 2,750 20 2009 Oman Al-Ma...
Volume: 53Issue: 34Published at Mon, 23 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: 33Published at Mon, 16 Aug 2010 -
Egyptian Refinery Takes Top Spot In African Project Financing
...lyethylene, methanol and ammonium nitrate projects (MEES, 1 March). The ammonium nitrate project is expected to secure financing this year, with the other two looking to approach lenders in 2011 or 2012. While they will focus on export markets, the sponsor hopes that they will ultimately provide feedstock for fu...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
IEA Raises Forecast For 2010 And 2011 Crude Oil Demand
...Middle East Economic Survey VOL. LIII No 33 16-Aug-2010 IEA Raises Forecast For 2010 And 2011 Crude Oil Demand The International Energy Agency (IEA) revised upward its forecast for global oi...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
EIA Forecast Sees 2010, 2011 Demand Growth Largely Unchanged
...Middle East Economic Survey VOL. LIII No 33 16-Aug-2010 EIA Forecast Sees 2010, 2011 Demand Growth Largely Unchanged The Energy Information Administration (EIA) of the US Department of En...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
Pakistan Moves Slowly On Iran Gas Pipeline And Qatari LNG Imports
...obably involve a floating storage and regasification unit (FSRU), MEES understands. It is unlikely to be operational by the target year of 2011. Furthermore, one of the 4Gas shareholder companies is in Chapter 11 bankruptcy, but it us unclear how this affects the whole project. GDF Suez and Shell are mo...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010