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Saudi Crude Prices For January Mainly Raised
...im, with UAE crude selling mid-month November in the ADNOC plus $0.50-70/B range. The formulas for January 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L da...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Crude Oil Formulas/Posted Prices
....80 71.20 72.85 75.75 82.65 76.25 72.55 76.05 74.75 77.20 Iran (+ / - Adjustment Factor; $/B) 2011 20...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
S&P Affirms Bahrain Sovereign Ratings
...unterbalance to the high geopolitical risks – relative to many other rated sovereigns – and the Bahraini economy’s vulnerability to external shocks. With oil revenues having been budgeted on the basis of an oil price of $80/B for both 2011 and 2012, S&P reported that it had estimated the general government de...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Russia And Ukraine Amend 2009 Supply/Transit Agreement to Guarantee Exports Increase
...2011. The second and more important agreement consolidates the Russian-Ukrainian rapprochement that followed the election of Mr Yanukovych in February and the conclusion of the Gas for Naval Bases agreement signed in April, which extends the right of stay of the Russian Black Sea Fleet in the Cr...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Kazakhstan Agrees On ONGC Participation In Satpayev Exploration
...ake by February 2011.” A heads of agreement (HOA) was signed in January 2009, but MEES understands that the Kazakh authorities were alarmed by the decision of ONCG’s partner Mittal to withdraw from the original deal in November 2009, despite the fact that ONGC Videsh Ltd (OVL), the international ar...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Azeri Gas Supply To Syria Expected End-2011 Under Updated Agreement
...ess Agency on 6 December that Syria expects to receive approximately 3.5 mn cmd from Azerbaijan by the end of 2011, under an updated agreement signed in Baku between Syrian oil officials and Socar representatives on 23 November. Mr Zainab noted that the construction of the 62km Syrian branch of a ga...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Noble Energy Could Expedite Offshore Drilling Program, Says Cyprus Energy Official
...ergy, which holds the only production sharing contract (PSC) with the Cyprus government, is required in accordance with the PSC to drill one well in Block 12 between October 2011 and October 2013 (MEES, 8 November). However, Mr Kassinis said Noble may decide to move ahead with its schedule in Cyprus on...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 IRAQ Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn The Iraqi cabinet has approved a draft budget for 2011 wi...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
NEPCO Prequalifies Bidders For Jordan’s Third IPP Project
...e in March 2011. Jordan inaugurated in October 2009 its first IPP, the ʹAmman East Power Project (MEES, 2 November 2009)....
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
US Consultancy To Assess Prospects For GCC Nuclear Power Cooperation
...er a six-month period and will be completed by the second quarter of 2011. The GCC formalized the contract with Lightbridge and its partner Exelon Generation Company. The firm will perform a group of studies to identify the relative value and implementation options that could result from regional co...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Kayan Starts Trial Operations At Jubail Phenolics Plant
...0,000 t/y bisphenol-A plant. The majority of the BPA will be used as feedstock for the production of polycarbonates. The polycarbonates unit is planned for trail start-up in the first half of 2011, the company said. In August, Saudi Kayan started seeking extra funds following the rise in capital ex...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Sudan Leaders Agree On Post-Referendum Oil Field Security
...P) and the south’s Sudan People’s Liberation Movement (SPLM). Security arrangements after 9 July 2011 will depend on directives made by the two parties following the declaration of the vote’s result, said Vice-President 'Ali 'Uthman Muhammad Taha and his southern counterpart Riek Machar. The ag...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Russia Prepared To Assist Sudan In Its Efforts To Obtain Debt Relief
...ing “irrevocable” according to the Russian envoy. “After the referendum in South Sudan in January 2011, Russia will be interested in seeing possibilities for economic development emerging both in the south and north of Sudan, therefore we will have to discuss the question of lifting the embargo im...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Battle Under Way For Control Of Iraqi Oil Portfolio
...l is vital and everyone is assuming that it will be reached. “On Tuesday [30 November], the cabinet reviewed and approved the budget,” oil ministry spokesman 'Asim Jihad tells MEES. “They have now handed it to parliament for approval. The 2011 budget will be based on an oil price of $73/B and oil ex...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Gulf Poised For 2011 Hike In Bond Issues
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 GCC/REGIONAL Gulf Poised For 2011 Hike In Bond Issues The MENA region and particularly the GCC saw robust debt market activity th...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
GCC Power Grid Project Nears Completion
...stem – Kuwait, Saudi Arabia, Bahrain and Qatar – to the Southern System – UAE and Oman. Completion is expected in 2011. The total investment of the mega-grid, launched in 2009, is about $1.6bn. The regional grid has seen some power transfers since it was launched, mainly between Bahrain, Qatar and Ku...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Crude Oil Formulas/Posted Prices
...haran Blend (44°) +0.93 +0.95 +1.15 +1.15 +1.15 +0.85 +0.20 +0.10 +0.20 +0.80 +0.90 +0.60 +0.70 Oman ($/B) 2011 2010 Jan Dec No...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Socar Completing First Appraisal Well In Umid Field
...-40mn tons of condensate.” The well will be completed this month and be followed by a second appraisal well in 2011. A Socar official told MEES that the company “could finish the exploratory phase by late 2012 - early 2013, even though the company has not yet decided on the timetable and cost of a po...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
IGB Pipeline Agreement Signed, Bulgaria Looks To IBR Link
...Traikov said that Bulgartransgaz, Bulgaria’s state owned transmission system operator (TSO), will invest another €11mn to complete the project by 2011. Its initial capacity is estimated at 1.5 bcm/y, which will be increased to 3 bcm/y and later 4.5 bcm/y to match the capacities of the IGB and In...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
CNPC To Boost Turkmen Gas Imports To Meet Winter Demand
...mpared to a contracted annual volume of 5.8 bcm/y. CNPC controls almost 90% of the country’s gas network and announced on 1 December that it plans to expand this network by 80% or 40,000km in the period 2011-15. It expects imports from Turkmenistan to reach 15 bcm/y by the end of 2011....
Volume: 53Issue: 49Published at Mon, 06 Dec 2010