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Baghdad Postpones Fourth Bidding Round
...ntroversial one, introducing a number of unusual contractual clauses such as a right to postpone development of any oil discoveries for seven years and a proposed Infrastructure Fund for regional development (MEES, 19 September 2011). At a second road show for the bidding round held in 'Amman, Jordan, mi...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Jordan Discusses Prospects Of Importing Qatari LNG
...rdan was relying on Egyptian gas to generate about 80% of the kingdom’s electricity. But with the interruption of gas supplies since February 2011, Jordan was forced to rely on imported diesel and heavy fuel oil to generate its electricity, which is more expensive than Egyptian gas. The national energy bi...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Terminal Restarts Pave Way For Fresh Libya Output Surge
...r November and December. The figures essentially back up MEES estimates of overall Libyan crude production for December, but there are some noteworthy discrepancies (MEES, 26 December 2011). While MEES (largely on the basis of information given by operators in late November) estimated Bouri 23 De...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
IMF Says Oman’s Economy Grew By 5.5% In 2011
...OMAN IMF Says Oman’s Economy Grew By 5.5% In 2011 Oman’s Real GDP growth was projected to reach 5.5% in 2011, with 6.4% growth in the non-hydrocarbon sector, and average CPI inflation projected at 4.1%, according to the IMF in the latest Article IV consultation with Oman, released on 19...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Qatari Economic Growth To Slow In 2012, IMF Warns
...s recorded considerably high growth rates over the last 10 years – grew by some 17% in 2010 before accelerating to around 19% in 2011. Of this, real hydrocarbon GDP growth is forecast to slow down to less than 3% in 2012 due to Qatar’s self-imposed moratorium on the development of new North Fi...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
EBRD Accepts Jordan And Tunisia As Members
...mbership of the EBRD in 2011, saying that they believed its support would play an important role in helping them to implement their economic and political reform programs. The countries join Egypt and Morocco as EBRD shareholders in the southern and eastern Mediterranean (SEMED) region. Egypt and Morocco we...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Khartoum To Impose Fees On Oil Flowing From South Sudan
...is is our right.” Since the South’s secession from the North on 9 July last year, the two nations have been locked in a dispute over the sharing of oil revenues (MEES, 11 July 2011). And while South Sudan provided around 75% of Sudan’s pre-independence 470,000 b/d output, it is still highly de...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Attack On Gas Pipeline Disrupts Power Supply In Syria
...ria, the last being on 27 December 2011 on a gasline linking 'Abd Kafar and Rastan, close to the city of Homs which has seen some of the more violent protests since the eruption of the Syrian uprising in March. The Syrian government announced at the end of December an increase in the price of ga...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Dubai Halves Budget Deficit In 2012
...Bn) 2012 2011 % Change 2010 2009 2008 Revenue 30.43 29.9 +1.8 29...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
DEWA IPP Bidders See Good Support From Regional Banks
...ke the two banks up on their offer (MEES, 10 October 2011). First Of A Possible Six Projects As Dubai’s first IPP and its first public-private partnership (PPP), Hassyan 1 was expected to attract considerable interest. Developers are looking to get a foothold in what is expected to be an on...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
The Oil Curse And Oil Exporting Countries: Looking To The Future
...l producers. It also brings conflicts between provinces within countries. Examples of internal conflict include the political instability in Venezuela, the separation conflict in Angola’s oil-rich Cabinda province, the civil war in Nigeria and the 2011 civil war in Libya. These conflicts are known as...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Iraqi Export Jump Signals Output Surge
...ice slide. If Iraq manages to hit, or even go close to, its 2011 output targets and oil prices remain stable, the country appears poised for a major revenue boost. Last year saw oil income rebound from 2009 lows, despite a slight fall in export levels (see Table 2). The last four months of the ye...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Algerian 2011 Budget Boosts Government Expenditure By 13%
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 ALGERIA Algerian 2011 Budget Boosts Government Expenditure By 13% The latest wave of protests in Algeria and other neighboring countries against economic hardships and political repression highlights the urgent need to ad...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Gas Plants Face Delays
...tended to provide feedstock to the 1mn t/y ethylene cracker at the Gachsaran Petrochemical plant, which was originally scheduled to start up in 2011. New ethane and LPG recovery units in the Parsian gas processing plant are planned to complement phase two of the plant, which started up in 2008, mo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Conference Debates Options For EU Gas Import Pipelines
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 CASPIAN Conference Debates Options For EU Gas Import Pipelines Theodoros Tsakiris reports from Vienna. Germany’s former Vice-Chancellor and Foreign Minister Joschka Fischer made a plea to the 2011 European Gas Conference, wh...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Regional Turmoil Hits Financial Markets
...gion as uncertain political situations will likely remain in focus through 2011,” said JP Morgan in a 26 January update on its recommendations for sovereign paper in the region. It noted that spreads on Tunisia’s dollar denominated bond, which matures in 2012, are 138 bps (basis points) wider on th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
CGES Calls For OPEC To Produce More Crude In Face Of Tightening Fundamentals
...yadh needs an average basket price of $83/B, CGES said. Without more oil from OPEC crude prices will continue to rise during 2011, which along with rising agricultural and mineral prices, will push inflation rates up, “risking the imposition of higher interest rates on economies that are still st...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 OPEC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
KMG Reports ‘Signs Of Hydrocarbons’ From N-Block Well
...lf of 2011. Mr Kabyldin also announced on 25 January that KMG has decided to freeze the development of the Kazakhstan Caspian Transportation System (KCTS) until 2018, when the second phase of Kashagan’s oil production is expected to come on stream. “We are planning to build the oil terminal [at th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 EGYPT/EAST MEDITERRANEAN Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds Egypt is expected to offer licenses for exploration and development in around 18 concessions during 2011, according to recent remarks made by...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011