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Fujairah’s Safe Haven Port Grows As An Energy Hub
...rmuz. The Abu Dhabi Crude Oil Pipeline (ADCOP) will start operating in the first quarter of 2011. By exporting its oil at a point outside the Strait of Hormuz, Abu Dhabi will reduce journey time of getting oil to markets, avoid the heavy insurance shipping premiums for tankers using the strait during ti...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
CGES Says OPEC Policy Lending Oil Price Support
...t to be tested.” CGES Global Supply/Demand Balance (Mn B/D) 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 2009 2010 2011 World Oil Demand 86.1 86.0 85.8 86.7 87.5 87.5 84.7 86.2 87.7 Non-OP...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Bulgaria And Russia Sign South Stream Implementation Agreement
...e 63 bcm/year South Stream gas pipeline. The agreement, which was linked to the lowering of Russian gas export prices to Bulgaria, sets a deadline of February 2011 for the establishment of the Gazprom-Bulgargaz joint venture company that will own, build and operate on a 50:50 basis the Bulgarian pa...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Vitol To Build New Oil Terminal In Cyprus
...port these products from this terminal to other parts of the east Mediterranean,” VTTI CEO Rob Nijst said at a press conference in Nicosia on 22 July. Construction is expected to begin by January 2011 or earlier, with Mr Nijst adding that the facility’s eventual expansion would be modeled on its si...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Eni Starts Gas Production From Tuna Field Offshore Egypt
...ntinue with in-fill drilling in Temsah field and the development of the Denise B field, which is expected to come into production in 2011, according to Eni....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Jordan Expects To Conclude New Deal To Import More Gas From Egypt
...pply to 3.3 bcm/y by the first quarter of 2011. But he added that in the meantime the Egyptian government had pledged to maintain the full 2.4 bcm/y supply provided for under the 2004 agreement. Mr Irani also noted that Jordan plans to convene a meeting of the AGP member countries in 'Amman to di...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
IMF Expects Kuwait’s Economy To Rebound In 2010
...e exchange rate regime, macro-prudential policies should ensure financial stability if inflationary pressures were to reemerge. Selected Kuwaiti Economic Indicators, 2004–11 2004 2005 2006 2007 2008 Prel 2009 Est 2010 Proj 2011 Oil an...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Moody’s Sees Stable Outlook For Omani Banks And Economic Growth In 2010-11
...imarily for infrastructure projects. “However, banks’ interest rate margins could remain pressured by intense and concentrated competition, while sizeable lending and funding concentrations will raise the banks’ risk profiles,” notes the rating agency. For 2010 and 2011, Moody’s projects the country’s GDP to...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
SABIC Reports Sharp Rise In Income In 1H10
...pacity of 6mn tons of ethylene, propylene and ethylene glycol, is on track, it added in a statement. The company expects 15 out of 16 plants to begin full commercial operations by the end of 2011, according to SABIC Executive Vice-President Musa'id al-Uhali....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Global LNG Market Shows Unexpected Resilience As Qatar Restarts Plants
...the first quarter of 2011. The shutdowns and idling carriers also stoked concerns that Qatar might be deliberately holding back supply – some traders thought the carriers may be full, as Qatar stored LNG waiting for winter demand in the northern hemisphere to drive up prices. Others thought Doha ma...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
OPEC Sees End To Fall In Demand For Its Crude
...Middle East Economic Survey VOL. LIII No 29 19-Jul-2010 OPEC Sees End To Fall In Demand For Its Crude In 2011 demand for OPEC crude will rise, albeit modestly, predicts the latest OPEC Mo...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
IEA Forecasts 2011 Global Oil Demand At 87.8Mn B/D
...Middle East Economic Survey VOL. LIII No 29 19-Jul-2010 IEA Forecasts 2011 Global Oil Demand At 87.8Mn B/D The International Energy Agency (IEA) said global oil demand would rise by 1.6% or...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Kazakhstan Reimposes Oil Export Duty, KMG EP Buys Producing
...venues to amount to $400mn in the second half of 2010 and almost $1.2bn in 2011. Meanwhile, the KMG EP exploration and production subsidiary of state firm KazMunaiGaz (KMG) announced on 13 July that it will buy KMG’s stake in three major producing oil fields for $750mn. A press statement said KMG EP wi...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Iranian Gasoline Imports Halved In First Quarter, IEA Assesses Impact Of Sanctions
...First Quarter, IEA Assesses Impact Of Sanctions Iranian gasoline imports almost halved during the first quarter of the current Iranian year (21 March 2010 – 20 March 2011) to 507,250 tons of gasoline worth $376mn,ISNA news agency reported on 13 July. In the same period last year Iran imported 1....
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Iranian Government Sells 18 % Of Iran Khodro
...rket. The company plans to increase its production of vehicles in 2011 to 730,000 from 680,000 in 2010. The TSE Tepix Index closed at 15,080 on 14 July, rising sharply from around 12,537 at the beginning of the new Iranian calendar year starting on 21 March. The government plans to privatize a nu...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Higher Oil Prices And Fiscal Spending Help GCC Recover, Says Emirates NBD
...al GDP in GCC markets grew by 8% in 2008 and then slowed abruptly to 1.8% in 2009. Renewed activity should translate into a 4.8% real GDP increase in 2010, reaching a growth rate of 5.5% in real terms through 2011. Emirates NBD expects growth in the UAE to rise from 2.5% in 2010 to 4.0% in 2011. Real GD...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Sudan’s Politicians Clash Over Pipeline, Groups Warn Of War If No Oil Deal
...peline, Groups Warn Of War If No Oil Deal Leaders in land-locked South Sudan have clashed with the Sudanese Oil Minister Lual Deng about the viability of a $15bn, 450,000 b/d oil pipeline to Kenya. Without the pipeline, the South – expected to vote for independence from the North in January 2011 – will de...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
EMAL Secures $737Mn Of ECA Funding, Continues To Eye Capital Markets
...uminum smelter complex. It is being built in two phases, with phase one production starting in December 2009, and ramping up to full output of 750,000 tons/year of aluminum in April 2011, and once phase two is finished it will produce 1.5mn t/y. The project will produce primary aluminum with a product mi...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
EIA Sees Demand Growth At 1.56Mn B/D For 2010
...ft its assessment of global crude oil demand growth for 2010 and 2011 almost unchanged, in its latest Short-Term Energy Outlook, released on 7 July. World oil consumption is expected to increase by 1.56mn b/d in 2010 and 1.47mn b/d in 2011. But the Outlook says that estimates for oil consumption in 20...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010 -
Bulgaria Lukewarm On Burgas-Alexandroupolis, Bullish On South Stream And Belene
...t decide on participation in the Burgas-Alexandroupolis oil pipeline project before February 2011 at the earliest. However, a visit to Sofia by Russia’s Deputy Prime Minister and Gazprom Chairman Viktor Zubkov on 6-7 July appears to have ended Bulgaria’s procrastination over the other two of three st...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010