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Government Collapse Is Credit Negative For Lebanese Banks, Says Moody’s
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 Lebanon Government Collapse Is Credit Negative For Lebanese Banks, Says Moody’s The collapse of the national unity government is credit negative for Lebanon’s banks as it brings into question 2011 economic growth pr...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
S&P Revises Outlook On Three Lebanese Banks
...count deficits were expected before the political crisis, forecast at 7.5% and 19% of GDP respectively in 2011. “We project this year’s public debt burden at more than 120% of GDP,” added S&P. Lebanon’s unity government collapsed on 12 January when 11 opposition ministers resigned due to a long running di...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Syria And Iran Discuss Gas Pipeline Project
...rian gas interconnector, scheduled to be commissioned in the second quarter of 2011 (MEES, 14 January 2008). Mr 'Alaw, who had earlier paid a visit to Iraq with a delegation headed by Syrian Prime Minister Naji al-'Utari, said that new Iraqi Oil Minister 'Abd al-Karim al-Laibi supported the idea of th...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
SABIC Unveils 2010 Financial Results, Sees Higher Sales And Profits In 2011-12
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 SAUDI ARABIA SABIC Unveils 2010 Financial Results, Sees Higher Sales And Profits In 2011-12 Saudi Basic Industries Corporation (SABIC) announced on 19 January its interim financial results for the 12 months ending 31 De...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Syria Plans To Raise Domestic Price Of Fuel Oil To Market Level
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 syria Syria Plans To Raise Domestic Price Of Fuel Oil To Market Level The Syrian government has announced plans to gradually raise the domestic price of fuel oil with effect from 1 April 2011, in a bid to match in...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
S&P Downgrades Tunisia Ratings, Places On CreditWatch Negative
...cal currency sovereign credit ratings, on CreditWatch negative. “We expect the current political instability and violent conflict to affect Tunisia’s economic growth in 2011 and, in particular, its tourism industry,” said S&P. The conflict may also weigh on Tunisia’s balance of payments if foreign di...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Moody’s Downgrades Tunisia Bond Rating To Baa3, Negative Outlook
...very damaging to the country’s economy given its reliance on tourism and foreign direct investment. The recent events will affect fiscal performance and real growth in 2011, according to the ratings agency. In terms of the Tunisian government’s debt payments, Moody’s noted that the risk seems li...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Dubai Cuts Deficit In 2011 Budget
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 UAE Dubai Cuts Deficit In 2011 Budget After making progress on dealing with its huge debt pile, the Dubai government’s 2011 budget adopts a slightly more cautious approach to public spending, and plans to trim the deficit to...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Political Comment (24 January 2011)
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 POLITICAL COMMENT Political Comment (24 January 2011) It is unclear who or what will fill the power vacuum in Tunisia created by the collapse of the Ben Ali regime. Outside mediation has failed to resolve Lebanon's po...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Financial Precursors Of Sustainability Of US Economic Recovery
...nk that foresees “much more lending in 2011.” This is one of those financial precursors for the sustainability of recovery (http://finance.yahoo.com/tech-ticker/bank-ceo-%22quite-optimistic%22-about-2011-%22i-think-you%27ll-see-much-more-lending%22-535742.html?tickers=HBAN,XLF,KRE,FAZ,FITB,KEY,RK...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Israel’s Delek Proposes Building LNG Facility In Cyprus
...gin an exploratory well in Block 12 before the end of 2011. The government of Cyprus is expected to hold its second offshore bidding round by year’s end. Cypriot energy officials have previously told MEES that it may prove better for the success of the next licensing round if Nicosia were to wait for th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Rumaila Developers Announce Output Milestone
...d problems with a reformer unit for gasoline production are limiting throughputs to around 200,000 b/d, MEES understands. The ministry is working on fixing this. “By the end of 2011, we should go to or close to nameplate capacity at Baiji,” Iraqi Deputy Minister of Oil for the Downstream, Ahmad al-Sh...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Utenov: Kazakstan’s Strategic Oil Exports Outlook
...ginning of construction under the CPC Expansion Project is planned for 2011. It is planned to implement the expansion in three stages, fully completing the project by 2015. Q: Which are the main Kazakh fields that will support CPC’s expansion? A: Mainly the Tengiz, Karachaganak and possibly Ka...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Oil Producers Adopt Higher Crude Prices For 2011 Budgets
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL/ OIL PRICES Oil Producers Adopt Higher Crude Prices For 2011 Budgets The climb in crude oil prices has allowed many MENA countries to post a budget surplus for 2010 and hike the price forecast they will use in th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
WTI Returns To Low $90s/B Range
...the US Energy Information Administration (EIA) amid harsh winter conditions in the northern hemisphere, while demand growth is projected to rise during 2011-12. While economic data continues to impact WTI, the market appears to be once again responding to fundamentals. In its Weekly Pe...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
OPEC Output Hits Two-Year High In Response To Price Surge
...an that for 2009, indicating – given that prices were also higher – that OPEC’s estimate of a slight fall in the appetite for its crude last year is somewhat awry (MEES, 20 December 2010). Demand and price trajectories going into 2011 are uncertain. “The forward curve is very flat,” notes Leo Dr...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
EIA Sees Tightening World Oil Market Over 2010-12
...recast that global demand growth will average 1.4mn b/d in 2011 and 1.6mn b/d in 2012 – compared with an average of 1.3mn b/d annually in 2000-07. It noted that during the 2000-07 period, non-OECD countries accounted for about 75% of total world demand growth, while over the next two years the non-OE...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Syria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Jan Dec Nov Oc...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Tethys Wins Approval For Doris Production Program
...ris oil discovery on the Akkulka block. The approval allows Tethys to install production facilities for the planned 3,000-4,000 b/d production target for the second quarter of 2011. Currently the company is producing 750 b/d of oil from Doris under a test production permit. Once the pilot program is...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Khanaliyev Appointed Turkmengaz Chairman
...800ms, one in Keimir oil field to a depth of 4,500ms, and two in the Ekerem oil field to a depth of 3,800ms. Ria Novosti reported that the value of the contract is $32.95mn and that the work program is expected to run from June 2011 to February 2012....
Volume: 54Issue: 03Published at Mon, 17 Jan 2011