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GCC Economies Return To More Robust Growth, Says Samba
...rrently slated to run to 2014 will at some stage be lifted. This is likely to prompt another round of gas based industrial development and provide additional stimulus to Qatar’s promising longer term growth prospects,” concludes the report....
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
Tighter Sanctions Aimed At Iran’s Energy Sector
...fining and Distribution Company (NIORDC) is launching a massive downstream expansion. If realized, Iran would add over 1.5mn b/d of brand new refinery capacity at a cost of over $27bn, not to mention expansion of 1.1mn b/d at existing refineries at a cost of $11.4bn, and all by 2014. Tehran has also an...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Iraqi Cabinet Gives Initial Approval Of $17Bn Shell Gas Deal
...st a working number. It could change,” Iraq’s deputy oil minister for the downstream, Ahmad al-Sham'a, tells MEES. Funding will be staggered with $450mn to be paid in 2013, $1.25bn in each of 2014 and 2015 and $1.2bn in 2016, news reports said. The deal, which brings together SGC (51%), Shell (44%) an...
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Kazakhstan Introduces New Subsoil Law, Enhancing State Leverage
...ginning will be delayed. We therefore, expect no substantial volumes of oil in the period from 2014 to 2016 to justify construction of the KCTS.” However, KCTS is due to be completed in 2016-17 to handle expanded output from Kashagan (MEES, 7 June)....
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Musturud Refinery Project Attracts Additional Lenders
...mpletion is planned for 2014....
Volume: 53Issue: 27Published at Mon, 05 Jul 2010 -
Faltering Upstream Progress Undermines Libyan Output Targets
...ploitation of new ones, is the Waha oil company, whose Chairman Bashir El-Ashahab said in an interview earlier this month that it was targeting 650,000 b/d by 2014. The company is currently producing 370,000 b/d, according to Waha sources, and the first of four major development projects, Faregh Phase 2, is...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
RasGas Sees Largest Ever Order Book For Middle East Bond
...anned total of $2.23bn, divided into a series of three with bullet maturities – the E series is worth $500mn, maturing in 2012; the F series worth $1.115bn, maturing in 2014; and G series of $615mn, maturing in 2019 (MEES, 13 July). Pricing was attractive, with the three-year issue at treasuries pl...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Saudis Focus Efforts On Economic City Drive
...iversity of Science and Technology (KAUST), currently under construction and which is being touted as a ‘Harvard on the Red Sea’. State-owned Saudi Aramco and its partner Japan’s Sumitomo are proceeding with plans for a further multi-billion dollar expansion at PETRORabigh, which should be complete by 2014...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
BG Row Threatens Gulf Keystone’s Planned Sale Of Hassi Ba Hamou Stake
...r its interest in the block. The commercialization of gas discovered there is not expected until 2014....
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
When The Dust Settles Iraq’s Oil Will Flow
...ke it. Remember that the Energy Information Administration’s (EIA’s) best estimate for world consumption is that this will rise by only 7mn b/d by 2014. The strategy of technical support agreements, such as those under negotiation with the oil majors in 2008, should be revisited. These co...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Nabucco Partners Sign Intergovernmental Agreement
...ll as Turkey apparently softening its stance on Nabucco, the 31 bcm/year pipeline project that is scheduled to start in 2014 received a significant boost with the surprise offer by Iraq’s Prime Minister Nuri al-Maliki at the signing ceremony to supply it with 15 bcm/year of gas. However, it re...
Volume: 52Issue: 29Published at Mon, 20 Jul 2009 -
Noble Says Tamar And Dalit Could Supply Two Decades Of Projected Gas Needs
...oduction by 2012, although some observers say 2014-15 is more realistic. The latest reserves estimate for Tamar compares with a previous estimate of 5 tcf, and is double the original reserves estimate (MEES, 16 February). Despite the size of the discovery, Israel’s Natural Gas Authority is moving ahead wi...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
RasGas Launching Bond Issue To Complete $10Bn Funding Program
...total $2.23bn, although could be subject to change, and is divided into a series of three with bullet maturities – the E series is worth $500mn, maturing in 2012; the F series worth $1.115mn, maturing in 2014; and G series of $615mn, maturing in 2019. The bonds, along with an ExxonMobil loan of...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014
...Middle East Economic Survey VOL. LII No 27 6-Jul-2009 IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014 The International Energy Agency (IEA) has forecast global oil demand as growing by 0.6% or 540,000 b/d per year on average between 2008 and 2014, fr...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
Poland Signs Long-Term Agreement For Qatari LNG
...d Polish state firm PGNiG, and calls for the delivery of 1.5 bcm/year of gas (1mn tons/year of LNG) over the period 2014-34 to an LNG receiving terminal to be built at Swinoujscie on Poland’s Baltic Sea coast. Mr Grad said that the contract would be worth around $500mn/year, and that the LNG wo...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
Saudi Aramco And ConocoPhillips Relaunch Yanbu' Refinery Bidding
...re being floated around last year. Major packages for Yanbu', which is scheduled to start up in the third quarter of 2014, include a coker unit, crude facility, gasoline unit, hydrocracker, tank farm, offsite pipelines and high voltage electrical packages, as well as other infrastructure pa...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009 -
Saudi Electricity Company Receives Technical Bids For IPP Program
...ant will produce 2,000mw, cost SR8bn ($2.1bn) and start in 2013; and the Qurayah plant will produce 2,000mw, cost SR8bn and start up in 2014. ...
Volume: 50Issue: 29Published at Mon, 16 Jul 2007 -
Saudi Electricity Company Receives Financial, Legal Bids For IPP Program
...e RFP will be issued in August 2008, with initial operation planned for April 2013 and full operation for April 2014. The Qurayah Power Plant will be a 2,000mw heavy Arab crude fired facility, with an estimated capital cost of SR8bn, with the RFP to be issued in August 2009, and initial op...
Volume: 50Issue: 28Published at Mon, 09 Jul 2007 -
BMA To Launch $106Mn Dinar-Denominated Ijara Sukuk
...ture on 20 July 2014. It will give a return of 5.125%, to be paid twice a year, on 20 January and 20 July. The BMA is receiving subscriptions for the sukuk from 11 July until 18 July with the minimum subscription set at BD10,000 ($26,525). Subscription is open to all commercial banks and na...
Volume: 47Issue: 29Published at Mon, 19 Jul 2004 -
Iraq: Sustainability Of Debt Service And Reparations Payments
...% in 2005 to 13% in 2009. In 2010 it jumps to 27% after principal payment is added to the interest payment, which would have started in 2005. The ratio declines to 24% in 2014, (Table 4). If 25% is taken as a yardstick over which the burden becomes heavy then debt service seems largely tolerable ev...
Volume: 47Issue: 28Published at Mon, 12 Jul 2004