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KOTC Planning Expansion Of Fleet With Purchase of Nine Tankers
...d four petroleum products tankers, respectively. Construction work on the vessels is expected to be completed by 2014. “With this move, KOTC will realize its strategic goal set in coordination with the Kuwait Petroleum Corporation (KPC) to enhance the KOTC fleet to include 33 tankers,” Mr Bo...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
IMF Marks Down Global Growth, But Keeps MENA Forecast Unchanged
...st week, the US Federal Reserve said it sees low interest rates until at least late 2014 – its previous forecast had said that rates were to remain the same until the middle of 2013. IMF Director Christine Lagarde has called for its member countries to provide a further $500bn to allow it to meet an...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Saudi Aramco/Sinopec Refinery Deal Highlights Growing Sino-Saudi Energy Axis
...yadh airport by the head of Saudi intelligence, Prince Muqrin bin ΄Abd al-Aziz, signaling security concerns were a major subject of discussion. YASREF is scheduled to come on stream in late 2014, Saudi Aramco said. It will produce “90,000 b/d of gasoline, 263,000 b/d of ultra-low-sulfur diesel, al...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Tamar Partners Sign Gas Sales Contracts
...ars if all volumes provided for in the agreement have not been consumed. Supply is expected to begin during the second half of 2014. The Tamar partners on 9 December signed 16-year supply agreements with Ramat Negev Energy and Ashdod Energy, both of which are owned 58% by Edeltech and 42% by Zo...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Noble To Resume Work On Leviathan-1 Well In Search Of Crude
...2bn and with deliveries scheduled to begin in 2014. GGR Plans Myra And Sarah Wells To Start Late February GeoGlobal Resources has confirmed to MEES that drilling will begin in Israel’s offshore Myra Block in late February using the Homer Ferrington rig. GGR will be targeting a gas prospect in th...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
IMF Says Oman’s Economy Grew By 5.5% In 2011
...10 2011 2012 2013 2014 Proj 2015 2016 Oil and Gas Se...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Qatari Economic Growth To Slow In 2012, IMF Warns
...eld projects until 2014, while substantial investment in infrastructure, coupled with increased levels of production in the country’s manufacturing sector is projected to boost growth in the country’s real non-hydrocarbon GDP to 9%. Consequently, the IMF went on to suggest that the medium term outlook fo...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit
...nsion scheme. The first payment was made in 2010-11 and the last is due in 2014-15. The draft budget needs parliamentary ratification. The 2010-11 budget projected total revenue at KD9,719mn ($34,794mn), total expenditure at KD16,310mn ($58,390mn) and a deficit of KD7,562mn ($27,072mn ‒ MEES, 27 Se...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
OPWP Prequalifies Companies For 2GW Sur IPP
...rst phase and 1.5gw in the second phase. Prequalified companies have until 7 March to submit final bids. The winning bidder is expected to complete the first phase by the summer of 2013. Full commissioning is expected ahead of the 2014 summer peak demand, the daily reported. OPWP issued its re...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Syria Plans To Raise Domestic Price Of Fuel Oil To Market Level
...ternational prices. The current subsidized price of S£8,500 ($182.80)/ton for the industrial sector will rise to S£13,000 ($279.60)/ton on 1 April, S£16,000 ($344.10)/ton on 1 January 2012, S£20,000 ($430.10)/ton on 1 January 2013 and will reach the international market price by 2014. In addition in...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Abu Dhabi Renews Cosmo Concessions
...nuary 2014 (MEES, 22 February 2010). The Cosmo renewal is the emirate’s second. ADNOC’s onshore gas division, GASCO, (ADNOC 68%, Shell 15%, Total 15%, and Portugal’s Partex 2%) had its concession renewed in March 2009, six months after it had expired. It was post dated to October 2008 and will ex...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Cyprus Agrees Details Of $6Bn LNG Supply Deal With Shell
...ll sales and purchase agreement (SPA) will take several more months. MEES understands that the Cypriot side requested the 20-year term for the deal, which will be very flexible in volume deliveries but still contain take-or-pay terms. Gas deliveries are to begin in 2014-15 and will be priced against Br...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Noble Energy Makes Major Gas Discovery Offshore Israel With Leviathan Well
...nge between 50% and 62%. It recommended that the existing 12.5% royalty remain in place and that tax on profits range between 20% and 50%. The existing depletion allowance would be cancelled. Depreciation would be accelerated and oil and gas fields that begin production by 2014 would receive a lo...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
SEC Announces Plan To Expand Generating Capacity By 2016
...wer plants – at Rabigh, Riyadh and Qurayah – between April 2012 and April 2014, adding 5.2gw in new capacity (MEES, 4 October)....
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Azerbaijan Plans Gas Production Boost, More Exports In 2010
...sfield, which is nearing Stage 1 completion and producing 22-23mn cmd (8-8.4 bcm/y). Stage 2 development is expected to be completed in around 2014 and result in output doubling to 16 bcm/y. Shah Deniz reserves are estimated at 1.2 tcm. The EU and US backed Nabucco Gas Pipeline project is keen to se...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Naftogaz Default Threat Warning By Ukraine Energy Official
...oject be completed in 2014 (MEES, 11 January). Throughput is expected to remain at current rate until the expansion is complete. Turkmenistan resumed gas supplies to Russia on 9 January at a rate of 10 bcm/year following a meeting in late December between Turkmen President Gurbanguli Be...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
SEC Continues To Evaluate Bids For Riyadh PP11 IPP
...ficial launch to potential developers mid-year. This would become operational in 2014 and produce 2gw. This month SEC awarded an SR1.08bn ($288mn) contract to Arabian Bemco Contracting Company to expand a plant in Qassim, an agricultural region in the center of Saudi Arabia, said state news agency SP...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
CPC Shareholders Approve Pipeline Expansion To 67Mn Tons/Year
...cember approved the long-proposed capacity expansion of the CPC oil pipeline during a gathering in Moscow of the CPC-R Board of Directors and CPC-K Extraordinary General Shareholders. Implementation of the plan to boost the 1,510km pipeline’s capacity to 67mn tons/year (1.34mn b/d) by 2014 is to be...
Volume: 53Issue: 02Published at Mon, 11 Jan 2010 -
Ma'aden And Alcoa In Joint Venture For Aluminum Complex In Saudi Arabia
...th the rolling mill and smelter in the first phase. First production from the smelter and rolling mill is anticipated in 2013 and first production from the mine and refinery is expected in 2014. A Ma'aden statement estimated capital investment at approximately SR40.5bn ($10.8bn), subject to the co...
Volume: 53Issue: 01Published at Mon, 04 Jan 2010 -
Abu Dhabi Aims For Oil/Non-Oil GDP Equilibrium
...Middle East Economic Survey VOL. LII No 2 12-Jan-2009 UAE Abu Dhabi Aims For Oil/Non-Oil GDP Equilibrium Abu Dhabi is seeking to increase the non-oil sector’s contribution to its gross domestic product (GDP), reaching equilibrium with oil GDP in 2014-16 (see table) and ai...
Volume: 52Issue: 02Published at Mon, 12 Jan 2009