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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 -
Iran Reduces Emergency Fuel Additives Production At Petrochemical Plants
...pand its gasoline production capacity by 10mn liters/day (62,900 b/d) before the end of the current Iranian year (21 March 2010 – 20 March 2011) and would start inaugurating a new major refinery unit every month of 2011 starting from February. “Later in this year we will become self-sufficient th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Yildiz Visits Iran To Discuss Energy Investments
...tentially by September 2011, into the European Network of Transmission System Operators for Electricity (ENTSOE) grid. Following his meeting with Mr Yildiz, Mr Namjou noted that “a comprehensive road-map will be drawn for the two countries’ cooperation in the energy sector, which will be the pillar for Ir...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 KUWAIT Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit The Kuwaiti draft budget for 2011-12, which starts on 1 April, is projecting total revenue of KD13,445mn ($48,133mn), up 38.3% over the pr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 oman Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says Real GDP growth in Oman is projected to rise further to around 5% this year, after posting growth figures of 1.1% and 4.1% in 2009 and 2010 respectively, the IM...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
IMF Trims MENA Growth Forecast For 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL IMF Trims MENA Growth Forecast For 2011 While the IMF marginally increased its forecast for world growth to 4.4% for this year, it trimmed predictions for MENA from the levels it reported in its October 2010 Wo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Samba Forecasts 6% GDP Growth For GCC Economies In 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL/GCC Samba Forecasts 6% GDP Growth For GCC Economies In 2011 Although the global economy enters 2011 in a state of some uncertainty, the outlook for the GCC economies remains positive, with regional real GDP gr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
DEWA Plans To Add 2GW Of Generating Capacity In 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 UAE DEWA Plans To Add 2GW Of Generating Capacity In 2011 Dubai Electricity and Water Authority (DEWA) will complete the Substation M Project at Jebel Ali in 2011, with a capacity to generate 2gw of electric power and de...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Political Comment (31 January 2011)
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 POLITICAL COMMENT Political Comment (31 January 2011) The turmoil unleashed by the revolution in Tunisia has metastasized to Yemen and, more crucially, Egypt. Lebanon's new prime minister has the backing of Hi...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Competitiveness And Saudi Petroleum Policy
...d raising their productivity, and cost reduction. Global Economy At the request of the agency organizing this forum, I will address today the global oil market in 2011 and touch upon three main points: the global economy, the oil market and the Kingdom’s petroleum policy. I will start with th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Cyprus Government Sees Delek LNG Proposal As Positive Development
...fshore territories, providing each with a legal boundary in which to conduct offshore exploration (MEES, 27 December 2010). The first phase of Noble Energy’s license for Block 12 is due to expire in October 2011 under the terms of its production sharing contract with Cyprus. Before then it must pr...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Question Marks Surround KRG Oil Export Breakthrough Claim
...e meeting, it was also agreed that oil export from the Kurdistan region will resume by February 2011 and that the Kurdistan region will have its share from crude oil to supply the needs of the local refineries and plants,” it added. According to federal oil ministry spokesman Asim Jihad, Ba...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011