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MASEN Prequalifies Bidders For First Phase Of Ouarzazate Solar Program
...ternational Company for Water and Power (ACWA), Aries IS and TSK EE; and Orascom CI, Solar Millennium and Evonik Steag. This first phase of the Ouarzazate solar complex will incorporate parabolic trough technology. Subsequent phases will be launched in 2011-12 in order to achieve the target of 500mw in op...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Doha Bank To Issue Bonds Worth $500Mn
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 QATAR Doha Bank To Issue Bonds Worth $500Mn Doha Bank, the third largest bank in Qatar, plans to issue $500mn in senior debt bonds through its fully-owned Bermuda-based subsidiary in the first quarter of 2011, it an...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
SEC Announces Plan To Expand Generating Capacity By 2016
...ter a board meeting that saw the ratification of the country’s 2011 budget – SEC Chairman Saleh al-Awaji stated that the company plans to begin work over the coming year on new projects to add 6.5gw of capacity by the beginning of 2012. Related projects include the building of 56 new high-voltage po...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Saudi Economy Poised For Strong Growth In 2011, Says Riyad Capital
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 SAUDI ARABIA Saudi Economy Poised For Strong Growth In 2011, Says Riyad Capital Despite the emergence of new strains on the global economy in recent months, the Saudi Arabian economy is set to post “robust growth” fi...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Political Comment (3-10 January 2011)
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 POLITICAL COMMENT Political Comment (3-10 January 2011) Belligerent anti-Turkish statements by Israeli Foreign Minister Avigdor Lieberman have done little for Israeli-Turkish relations or the cohesion of Israel's go...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Oil Earnings Fuel Bumper Saudi Budget
...port. The actual figures for 2011 show that the kingdom’s revenues hit SR1,110bn ($296bn), their highest ever levels, even edging over the SR1,100bn ($293.3bn) seen in the boom year of 2008. While oil prices fell short of the $147/B peak reached in July 2008, throughout 2011 they maintained an average of...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Saudi Aramco Takes Central Role Downstream
...oject, which will cost around $25bn and comprise 34-35 units (and being advised by RBS and Riyad Bank) could seek funding at the end of 2010, but some see 2011 as more likely. It is unclear at this stage how the financing for PETRORabigh II, which is expected to cost around $10bn, will be slotted in...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
South Stream Technical Study Completion Expected In September-October
...nister, told Ria Novosti on 16 January that all technical work necessary to finalize the routing of the South Stream gas pipeline project would be completed by all the states involved by September-October this year, so that the construction work on the pipeline would begin in November 2010 or January 2011...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
Higher Commodities Prices Drive Qatari Economic Growth, Says Emirates NBD
...rengthening external demand should also lead to a recovery in the non-energy sector. Growth of Qatar’s non-hydrocarbon sector is expected to accelerate to 5% of GDP in 2010, from an estimated 2% in 2009. GDP growth should stay strong in 2011 as well, at 12.5%. Accordingly the country’s oil and gas earnings ar...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
Critical Year Ahead For Sudan, Chatham House Warns
...civil strife, voters in Southern Sudan will in January 2011 take a decision with far-reaching consequences for the peace and development of the whole country, Chatham House (UK’s Royal Institute of International Affairs) warned last week. In the report Decisions and Deadlines – A Critical Year fo...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
Abu Dhabi Lifeline To Dubai Shrinks
...kheel, which developed Dubai’s palm-shaped islands, said that it had made the $10.3mn coupon payment on a $750mn bond due in 2011. Another state-run company, Borse Dubai, also said last week it would exercise an option to extend a $2.5bn one-year loan to February 2011. Creditors are still awaiting a st...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
Dubai Maintains Fiscal Budget Stimulus Despite Debt Woes
...in a better financial position in 2011 because most of its commitments on infrastructure projects would have been met. The statement also provided details of allocations to the following major sectors in 2010: Dh17.45bn ($4,751mn), or 49% of the total budget for the economic sector, in...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Qatar Eyes LNG ‘Mega-Train’ Finishing Line
...mpleted and commissioned by June of this year and Train 7 hopefully by September.” The mega-trains require up to a couple of months to go up to full capacity. There are concerns full production at Train 7 might slip into 2011 (MEES, 30 November, 2009). But “a delay of a month or two is not a big de...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
EIA Sees Tightening Of World Oil Market In 2010-11
...untries themselves should “begin to show significant oil demand growth in 2011 in response to improving economic conditions.” It said economic growth in the OECD was projected to double from 1.2% in 2010 to 2.7% in 2011. It added that while compliance with oil production cuts by OPEC members has we...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Turkmenistan Awards Contracts For South Yolotan Gasfield, But Output Questions Remain
...ount to 6 bcm/y and that by December 2010 it plans for as much as 15 bcm/y to be moving through the pipeline. By December 2011, CNPC plans for annual shipments to reach 30 bcm and during 2013-14, the full contract volume of 40 bcm/y is scheduled to be met. Meanwhile, in the course of this, Ka...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Iran’s Inflation Falls Further To 13.5% In December
...nual payments as per the table below: Year Debt Repayment ($Bn) 1388 (2009-10) 8.201 1389 (2010-11) 3.788 1390 (2011-12) 2.206 1391 (2012-13) 1.913 1392 (2013-14) onwards 5.467 ...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Saudi Economy Will Grow By 3.9% In 2010, According To Banque Saudi Fransi
...2009 to SR203.74bn ($54.3bn). According to BSF forecasts, claims on the private sector by Saudi banks should rise 8% in 2010, from 2.1% in 2009. A fuller credit recovery is expected to unfold in 2011 as private sector appetite becomes more robust. Private sector claims next year are likely to ri...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Iraq’s TSC And PSC Agreements – A Good Deal For Iraq?
...an planned to be operating in 2011. Facilities, pipelines, storage and ports are not yet developed to serve the huge planned oil production. I agree they are not the major issue, which is that the call on Iraq’s crude oil is likely to require much more modest production than the mooted development pl...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Barclays Capital Sees 2010 As ‘Bridging Year’ For Oil Market
...cording to the 30 December Weekly Oil Data Review. The year will be a transition between the demand-side weakness of 2009 and the return to supply-side tightness in 2011, it said. “We expect it to be a year in which none of the key fundamentals will be dominant enough to cast all other factors aside,” Pa...
Volume: 53Issue: 02Published at Mon, 11 Jan 2010 -
ABB Wins Substation Contract For First Saudi IPP
...0km north of Jiddah, and which will be developed on a build-own-operate (BOO) basis. The plant is expected to be completed by 2011, and will supply electricity to Saudi Electric Company (SEC) to meet the region’s growing industrial and residential power demands....
Volume: 53Issue: 02Published at Mon, 11 Jan 2010