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Salehi Says Loading Of Nuclear Fuel At Bushehr Completed
...ant.” He said he hoped the plant would be connected to the national electricity grid by mid-February. The plant is expected to generate 400mw for the first three months of operation. If all goes to plan, output is expected to reach full generation capacity of 1gw by June 2011....
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Energy Minister Invites Inquiries From Onshore Seismic Surveyors
...formation with the ministry by 25 January 2011, according to a report by Lebanon’s official National News Agency. Lebanon is hoping to develop its energy sector as soon as possible. In August of this year the parliament passed a hydrocarbon law, but a number of measures have yet to be taken before im...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
BSF Says Saudi State Expenditure Increasing Breakeven Oil Price
...pected to continue over the next few years, though it will decline slightly as a result of still limited private sector activity, Banque Saudi Fransi (BSF) said in a new report. The bank anticipates expenditure of SR590bn ($157bn) in the budget for 2011 which, while a 9.3% increase from this year’s SR...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Petrobras And MMHC Finalize Coke Plant Deal
...nstruction will begin in the first quarter of 2011, with start-up earmarked for early 2013, local daily al-Riyadh quoted the holding group’s managing director ʹAbd al-Aziz al-Hamwa as saying. The required initial investment will be $450mn, to be funded in equal shares by the two parties with the possible in...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Sudan Anticipates Growth In Mining Sector
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 Sudan Sudan Anticipates Growth In Mining Sector Sudan expects minerals to contribute $3bn to the country’s GDP in 2011, with its go...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Syria To Launch New Offshore Bidding Round In Early 2011
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 syria Syria To Launch New Offshore Bidding Round In Early 2011 Syrian Minister of Petroleum and Mineral Resources Sufian 'Alaw sa...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
ADX Farms Out Further 10% Of Chorbane Permit
...nuary 2011. The multi-reservoir Sidi Daher prospect is located close to the port of Sfax, near a number of producing oil fields, and is the largest structure to have been mapped on Chorbane. ADX estimates that the prospect has recoverable oil potential of 44mn barrels of oil in the Abiod formation, wh...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Koç Holding And AES Plan Joint Venture For $4-5Bn Energy Investment
...6.5mn. Upon closure of the deal, which is expected to take place in the second quarter of 2011, the shareholders of the AES-Entek Elektrik Uretim AS joint venture will be AES (49.62%) and the Koç Group (49.62%) and certain minority shareholders (0.76%). The new joint venture is expected to invest $4-...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Dubai Receives First Qatar LNG Shipment
...r a period of 15 years, with the aim being to help the emirate cope with peak summer demand for electricity. Shell, the largest investor in Qatar, is a 30% shareholder in the 7.8mn t/y Qatargas 4 project, which is set to begin producing LNG in February 2011. The UAE already receives Qatari gas vi...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Union Railway Awards Consultancy And Preliminary Engineering Contracts
...cluding testing and commissioning. “In early 2011, we will tender for construction contracts for phase zero to build the railway line,” Union Railway CEO Richard Bowker said. The joint venture will also supervise preliminary engineering work and contract formation for parts of the next two stages. Ph...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Dubai’s Problems Persist After Latest Abu Dhabi Lifeline
...ar and in 2011. ADIA was one of a number of SWFs that supported Citi when it faced huge losses resulting from the financial crisis. Fitch Puts Five Dubai-Based Banks On Negative Watch, Moody’s Conducts Review Fitch Ratings said on 16 December it had kept the individual ratings of five Dubai-ba...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Gulf Project Finance Activity Gathering Momentum
...velopment Fund (SIDF). Launching a bond remains a possibility, MEES understands, although this would break new ground for a Saudi refinery project. The massive Ras Tanura project sponsored by Saudi Aramco and US firm Dow Chemical is not expected to seek funding until 2011, although this petrochemical ci...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Dragon Oil Shareholders Reject Takeover Offer By ENOC
...pital for the indebted emirate. In a statement posted on the Dragon Oil website on 2 December, ENOC expressed its commitment as a long-term majority shareholder to the company, stating that it would not sell shares in Dragon Oil until 31 December 2011 (MEES, 7 December). A statement issued by Dr...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Qatari Banking System Remains Sound And Profitable, Says Samba
...portunities for sustained credit expansion through 2011. In addition, growing domestic liquidity and improving access to wholesale funding and capital markets should raise deposits and bring the loans to deposit ratio back down towards the central bank limit of 90%. Broad money (cash and bank deposits) gr...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Africa Oil Extends Puntland Exploration Period
...dified terms for production sharing agreements (PSAs) for the Dharoor and Nugaal exploration areas. The amended agreements extend the initial exploration periods of both blocks from 36 months to 48 months, with an expiry date of 17 January 2011. Under the revised terms Africa Oil, which holds a 60% in...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Iraqi Capacity Expansion Relative To World Oil Market Trends
...her OPEC countries. In other words, the world would have to live with a combined OPEC additional capacity of over 14mn b/d. Table 1: Production Capacity Estimates According To Contract Timelines (Mn B/D) 2011 2013* 20...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Doha Rules Out New Gas Export Projects Post-Moratorium
...esented challenges. Excess water may have been an issue with Train 4, MEES understands. Qatari sources reject suggestions that any geological factor has changed policy, such as the extension to the moratorium, which was to have been lifted in 2011. “There has been no change,” said Mr Kaʹabi. “The mo...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
EBRD Encourages Kazakhstan To Diversify Away From Hydrocarbons
...Energy and Mineral Resources of Kazakhstan, extending the contract until 10 March 2011. This allows for further testing of the AKD01 exploration well, which has been drilled to a depth of 3,414ms and encountered two hydrocarbon zones....
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
Iran’s MAPNA Wins Syrian Contract For Power Plant
...th a capacity of 450mw, which will raise generation capacity at the Jandal Power Plant near Homs. The contract for €280mn will be financed by Syria and the project is scheduled for completion by the end of 2011. This is MAPNA’s second contract in Syria, the first being the extension of the Tishreen po...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
Debt Crisis Threatens To Undermine Dubai’s Independence
...bn in 2011, MEES understands. Also, Dubai typically runs a big current account deficit, which at the first six months of this year was around Dh8bn ($2.1bn). The information released in October this year with a Dubai sukuk offering suggested that the cash based nature of Dubai’s public finances re...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009