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FGE Forecasts Rise In Gas Demand In Asia-Pacific
...30, largely as a result of Australia’s relatively robust production, driven by the development of multiple green-field liquefaction projects.” FGE said it sees overall Asian LNG imports rising to almost 152mn tons in 2011, from less than 132mn tons in 2010. “Looking beyond 2011, FGE projects th...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 26 27-Jun-2011 Crude Oil Formulas/Posted Prices ($/B) Nigeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Jul Jun May Apr Mar Fe...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
US Treasury Imposes Sanctions On IRISL Affiliated Companies
...unty to illegally access the US financial system.” The District Attorney’s Office said that IRISL used fake companies to dupe New York based banks into processing wire payments of more than $60mn between September 2008 and January 2011. With the latest action, a total of 121 companies and in...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
NIOC Warns CNPC Over Lack Of Progress On South Pars 11
...uth Pars Phase 11, if CNPC does not fulfill the terms of the agreement, which called for the initiation of project development within the first half of 2011, Mehr News Agency reported on 17 June. CNPC replaced Total as the developer of South Pars Phase 11, but has informed NIOC that it “has been fa...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
NIOPDC Announces Increase In Strategic Fuel Reserves
...serves by 1.5bn liters during the Iranian year ending on 20 March 2011. Iran currently has 13bn liters of various oil products in storage, Mr Salari said. He added that “before the implementation of gasoline rationing and the subsidy reform plan, Iran was forced to import 27mn liters/day of fuel,” ac...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Moody’s Downgrades NBK Ratings, Assigns Stable Outlook
...wngrades to three main factors: expectations that the bank would experience asset quality pressure in 2011, arising from its operations in countries experiencing political unrest; the latent credit risk in the Kuwaiti banking system; and expectation that the imminent government spending increases will li...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Cost Estimate For BP’s Oman Tight Gas Fields Rises 50% To $15Bn
...livered its first gas in March. Seven wells have been successfully tested, and BP Oman is planning to add two additional wells by the end of 2011. EWT allows assessment of the long term production performance – particularly important in tight gas fields to understand well decline behavior and the nu...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
DEWA Doubles Size Of Planned Coal-Fired Power Plant
...rlier forecast: “I expect 5% of growth [in 2011], but then it could be 7%. The peak demand (growth) last year we thought would be 6% and then it came to 9.6%.” Dubai expects to have nearly 10gw of power production capacity by the end of 2011. In May DEWA selected McKinsey & Company as a consultant fo...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Political Comment (27 June 2011)
...Middle East Economic Survey VOL. LIV No 26 27-Jun-2011 Political Comment (27 June 2011) Syrian President Bashar al-Asad has again promised reforms, but has failed to appease his domestic and international critics. The head of the Arab League thinks it is time for a cease-fire in...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
One Hundred Days In The Iraqi Oil Industry
...st 100 days (ending 1 June 2011) as compared to previous rates. A 19% increase in the export rates of Iraq. This article includes analysis of actual production figures from the southern fields comprising over 75% of the country’s production and export. The figures for the 100 da...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
OPEC Secretariat Warns Of Danger Of Supply Inaction
...te: totals may not add up due to independent rounding. OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q11 2Q11 3Q11 4Q11 2011 (a) World Oil Demand 86.77 87.36 86...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
IEA Medium Term Forecast Sees Demand Growing By 1.2Mn B/D Annually For 2010-16
...2mn b/d during the 2010-16 period, essentially the same margin as forecast for the 2009-15 period a year ago. The IEA said in the Medium Term Oil And Gas Markets 2011, released on 16 June, that it expects global demand to rise from 88.0mn b/d in 2010 to 95.3mn b/d in 2016, an increase of 7.2mn b/d. Th...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
IEA Raises Short Term Demand Growth Forecast Slightly
...Middle East Economic Survey VOL. LIV No 25 20-Jun-2011 IEA Raises Short Term Demand Growth Forecast Slightly The International Energy Agency (IEA) raised its estimate for global oil demand growth for 2010 and 2011 by 100,000 b/d in its latest monthly Oil Market Report, released on...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
China’s Crude Oil Imports Remain Steady In May
...ril imports of 21.45mn tons. Crude imports on a daily basis averaged 5.07mn b/d for May. Year-on-year, China imports rose 20.8% over the May 2010 import figure of 17.84mn tons (4.20mn b/d). China imported a total of 106.42mn tons during the first five months of 2011 (5.1mn b/d). During 2010, it im...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 25 20-Jun-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Jul Jun May Apr Mar Feb Jan De...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
IMF Commends Iran’s Economic Performance
...mes, consumer price inflation has only increased from 10.1% in December to 14.2% at end-May 2011,” and said that maintaining macroeconomic stability in the near term through coordinated and adequately tightened monetary and fiscal policies is essential to preserve the benefits of the subsidy re...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Moody’s Sees Continuing Stable Outlook For Israeli Banking System
...proximately 4.5% in 2011, representing a slight fall from the figure posted in 2010. “The conservative loan-to-deposit ratios, granular deposit bases and maintenance of large liquidity reserves suggest that Israeli banks’ generally healthy liquidity positions are unlikely to change, thereby supporting out st...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
BP To Complete Risha Seismic Survey Shortly
...Energy and Mineral Resources Khalid Tuqan announced last week. The minster added that drilling of two wells to a depth of 3,000-4,000ms is expected to begin before the end of 2011. Following the interpretation of the seismic data, which will take a year, more exploration wells will be drilled ov...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Kuwaiti Real GDP Growth Expected To Hit 4.7% In 2011, NBK Says
...Middle East Economic Survey VOL. LIV No 25 20-Jun-2011 KUWAIT Kuwaiti Real GDP Growth Expected To Hit 4.7% In 2011, NBK Says Owing to a combination of a strong performance of the Kuwaiti trade sector, higher than expected oil prices, and expectations of a faster regional gr...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Qatargas Delivers First LNG Cargo To Thailand
...at will lead us to the successful commencement of terminal operations in July 2011,” said Wichai Pornkeratiwat, Senior Executive Vice-President, Gas Business at PTT. The vessel departed from Qatar’s Ras Laffan port in May, carrying 131,000 cu ms of LNG....
Volume: 54Issue: 25Published at Mon, 20 Jun 2011