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Saudi Arabia Plans To Open Stocks To Foreign Investment
...vestment. There were reports late in 2010 that foreigners would be let in as early as the first half of 2011, but at the time analysts said that it would take much longer to complete the studies and develop a plan. “I think the timing will be influenced by market conditions. They won’t want to do it if th...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Outlook Hazy For MENA Project Financing
...Middle East Economic Survey VOL. LIV No 52 26-Dec-2011 MEES Agenda Outlook Hazy For MENA Project Financing With the global financial crisis in the rearview mirror, hopes had been high that 2011 would be an even better year for the financing of MENA energy projects than 20...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Peace Breaks Out In Vienna
...en downgraded by some 290,000 b/d and OPEC actually sees the appetite for its crude at some 140,000 b/d weaker than in the last report at 29.76mn b/d (see table). OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q11 2Q11 3Q11 4Q...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Qatar’s Barzan Becomes World’s Largest 2011 Project Financing
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Qatar’s Barzan Becomes World’s Largest 2011 Project Financing When the loan agreements were signed on 13 December for Qatar’s $10bn Barzan gas facility, it became the largest project financing to be completed in the world th...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Saudi Arabia Flexes Capacity Muscle To Lift OPEC Output To Three-Year High
...10 – November 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec Nov Algeria 1,250 1,...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Iraqi Oil Sector Faces Year Of Challenge And Promise
...ojects are set to hit key milestones or begin. However, the massive planned oil industry expansion comes amid a sharp deterioration in oil relations between Baghdad and Irbil in the wake of October’s ExxonMobil upstream agreement with the Kurds, writes Rafiq Latta. While 2011 began with the re...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qatar Raises $5Bn In Bonds, Defying Unstable Market
...kuk, issued a couple of weeks ago, received 275 bps over mid swaps, and Abu Dhabi Islamic Bank’s five-year $500mn Sukuk was at 245 bps over mid swaps, with the $750mn seven-year Bahraini sovereign at 450 bps over mid swaps (MEES, 28 November). Qatar 2009 And 2011 Bond Issues Ma...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Iran Announces 10,000 B/D GTL Project, But Faces Hurdles
...ES. Currently, South Pars actual gas production is about 7bn cfd of gas – lower than the installed capacity. South Pars sustainable condensate production is estimated at 300,000-310,000 b/d in 2011. South African petrochemical company Sasol, which operates a GTL plant in Qatar, is building a 34...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Saudi Government Unveils Record Expansion-ary Budget
...Middle East Economic Survey VOL. LIII No 52 27-Dec-2010 SAUDI ARABIA Saudi Government Unveils Record Expansion-ary Budget Sustained high crude oil prices this year have provided Saudi Arabia with the impetus to hike 2011 budgeted expenditure 7.4% to a record SR580bn ($15...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
New Iraqi Cabinet Emerges, But Oil Uncertainties Remain
...bari and Deputy Prime Minister Roz Shaways. The Kurds have not accepted any new positions, in the hope of forcing a breakthrough on an oil deal, MEES understands. On 18 December, Kurdish deputies walked out of a parliamentary session to approve the 2011 budget after a clause was inserted – sources say by...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
Cyprus And Israel Sign Accord To Delimit East Mediterranean Waters
...tween October 2011 and October 2013 (MEES, 8 November) and depending on the results at Leviathan, Cypriot officials have said that date could be moved forward (MEES, 13 December). Also, the Delek Group has an option to join Noble in Block 12, which it has yet to exercise. Noble Energy was awarded th...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
Iran Casts Wary Eye On Shared Field As Qatar Celebrates LNG Success
...lks stalled because of a combination of tough terms and growing concerns over sanctions against Iran. According to FGE: Phases 9-10: NIOC targets the start of production by late January 2011. It announced in October 2010 that offshore development progress in these phases is more than 99% co...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Mubadala GE Capital Deploys $2Bn In Its First Year
...pital’s main thrust will be to provide financing to the private sector in the Middle East and Africa, with an initial focus on the GCC and particularly the UAE in 2011. “We see significant future demand for commercial financing opportunities – initially here in the UAE, our home market, then across th...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
OPEC Avoids Rocking The Boat With Seventh Straight Rollover
...onomic growth and oil demand growth as slowing in 2011, but it revised economic projections up both this year and next. Economic “growth for 2010 was revised up to 4.3% from 4.1% on better than expected growth in the manufacturing sector. Growth in 2011 has also been revised higher to 3.8% from 3.6%,” th...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Shuweihat S3 Power Deal Suggests Dip In Financing Costs
...untry Starting Margins (bps)* Tenor (years) Date Completed Shuweihat S3 UAE 175 23 Closing early 2011 Barka-3/Sohar-2 Oman 220 15 Sept 2010 PP11 Saudi Ar...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Zubair And Rumaila Lead Iraqi Capacity Charge
...esentation given to contractors in Istanbul. Worley Parsons and the UK’s AMEC are the favorites to win this contract, a source from a rival engineering firm tells MEES. BP is targeting over 50 wells to be drilled in Rumaila next year. The project’s 2011 work program involves “delineating the main re...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Arabian Project Financing Activity To Step Up In 2011
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 SAUDI ARABIA Saudi Arabian Project Financing Activity To Step Up In 2011 Projects are expected to secure funds, as domestic banks st...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Syria’s 2011 Draft Budget Targets Lower Deficit
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 SYRIA Syria’s 2011 Draft Budget Targets Lower Deficit Syria’s draft budget for 2011 projects a 5.3% reduction in the budget deficit to S£167bn ($3.59bn) from S£176.4bn ($3.79bn) in 2010, with a 15.7% rise in re...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Qatar Delays Barzan Project Due To Domestic Gas Supply Surplus
...mes on stream. Qatar is running a 10% surplus of gas production over demand, although this will drop next year as new power capacity comes on stream, raising domestic consumption to 3bn cfd, MEES learns. Power generation capacity will rise from 7.6gw to 8.8gw in 2011. In the same time as...
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