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QP And Shell Mark Start-Up Of Pearl GTL Plant
...atement added: “Over the coming months, production will ramp up from the first production unit... The second train is expected to start up before the end of 2011. The plant is expected to reach full production capacity by the middle of 2012... Once fully operational, Pearl GTL is expected to produce 1....
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Saudi Economy Will Grow By 6.9% In 2011, Says Riyad Capital
...Middle East Economic Survey VOL. LIV No 25 20-Jun-2011 SAUDI ARABIA Saudi Economy Will Grow By 6.9% In 2011, Says Riyad Capital Saudi real GDP is expected to grow by 6.9% in 2011, said Riyad Capital in its latest quarterly report, which revised upward its forecast from the pr...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Political Comment (20 June 2011)
...Middle East Economic Survey VOL. LIV No 25 20-Jun-2011 Political Comment (20 June 2011) Syrian President Bashar al-Asad's notorious cousin Rami Makhluf has decided to give up his business interests. The authorities in Bahrain are taking steps to open a dialogue with the op...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Iran’s Subsidy Reform: A Progress Report
...jor cities, no general strikes, no run on the banks and no panic buying. There was not even a commensurate reaction from the Majlis, whose main “intent and purposes” in the law were literally ignored by the government. A poll, conducted by the Majlis Research Center in March 2011, in fact sh...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
OPEC Talks Collapse In ‘Worst’ Meeting
...asures that will help to calm the market,” Mr Tanaka continued. Opponents of the Saudi-led initiative pointed to high stocks as reason not to hike output. “Inventories are the highest for five years,” argued one delegate, adding that in his view demand would be no higher in 2011 than it was last ye...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Salih Flown To Saudi Arabia After Attack On Palace
...edit have stopped supplying Yemen due to our inability to pay, Mr 'Aidarus said. Most output of 110,000 b/d Light Marib crude remains shut in after the explosion. “In Yemen, production has been stopped since mid-March 2011 due to an attack on the Safer export pipeline,” OMV official Sven Pusswald te...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Cook: Shah Deniz 2 Consortium Looking For Scalability In Pipeline Proposals
...with their offers for pipeline transportation by 1 October 2011. Beyond that we have to take our final investment decision in 2013 and after that we expect to start gas production by 2017. The rights to the Shah Deniz field in Azerbaijan end in 2036. That may look quite far away but actually to...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Billions Of Dollars Pledged To MENA Region After ‘Arab Spring’
...e IMF has a macro-economic approach whereas the EBRD looks at private sector operations. The G8 declaration stated that multilateral development banks could provide over $20bn, including €3.5bn from the EIB, for Egypt and Tunisia for 2011-2013 in support of suitable reform efforts and noted th...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Oil Prices Rise After OPEC Fails To Agree Output Increase
...ekly Oil Data Review, Paul Horsnell, Head of Commodities Research at Barclays Capital, said that OPEC cannot be considered as a force for price restraint – at least for the remainder of 2011. “While OPEC remains a force for the protection of any potential prices downside, it now appears to be out of...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
BP Statistical Review Says Global Oil Consumption Rose 3.1% To 87.4Mn B/D In 2010
...,823 82,827 84,126 84,958 86,428 85,999 84,714 87,382 * Inland demand plus international aviation, marine bunkers, refinery fuel and loss, ethanol and biodiesel. Source: BP Statistical Review of World Energy 2011. Middle Ea...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
EIA Boosts Oil Demand Forecast For 2011, Leaves 2012 Unchanged
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 EIA Boosts Oil Demand Forecast For 2011, Leaves 2012 Unchanged The Energy Information Administration (EIA) of the US Department of Energy has increased its global oil demand forecast for 2011 by 300,000 b/d to 1.7mn b/d, but le...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Japanese Crude Oil Imports Down To 3.567Mn B/D In April
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 Japanese Crude Oil Imports Down To 3.567Mn B/D In April Japanese crude oil imports averaged 3.567mn b/d in April 2011, down by 5.7% from 3.783mn b/d in March, according to monthly import data released by Japan’s Ministry of Ec...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Crude Prices Raised For Europe, Differentials Narrowed For US And Asia
...NOC plus $0.40/B earlier in the month. The formulas for July 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as fo...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 May Apr Mar Feb Jan Dec Nov Oct Se...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Nabucco Legal Framework Agreed As Southern Corridor Race Heats Up
...rried about the availability of gas supplies to fill the 31 bcm/year capacity project and was certain that the first gas contract would be in place by the end of 2011. He also dismissed reports of a steep increase in projected Nabucco costs as “speculations”. EU Energy Commissioner Gunther Oettinger st...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Socar Considering Bid In DEPA Privatization Tender
...blic Gas Company (DEPA). On 9 June the Greek government confirmed that it planned to sell all of its shares in DEPA as well as one-third of its shares in DESFA, the Greek transmission system operator, by the end of 2011. This represents a significant shift in government policy, since two months ea...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Cabinet Approves 2011-12 Egyptian Draft Budget
...Middle East Economic Survey VOL. LIV No 24 13-Jun-2011 EGYPT Cabinet Approves 2011-12 Egyptian Draft Budget The Egyptian cabinet on 1 June approved the draft budget for fiscal 2011-12, which forecasts total expenditure of E£515.5bn ($86.8bn at $1=E£5.94), total revenue of E£35...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
NIOPDC Fills Oil Products Tanks At Power Plants
...ring the first half of the current Iranian calendar year” (21 March 2011 – 20 March 2012). Gasoil and fuel oil are used to generate some 17% of Iranian electric power, with gas-fired plants providing the bulk of the remainder. Iran’s power generation capacity is estimated at 49gw....
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Iran And Turkmenistan Start Production In Gonbadli Gas Field
...pecially after the completion of the 1,204km, 50mn cmd capacity Dauletabad-Sarakhs-Khangiran gas pipeline, the largest importer of Turkmen gas. Iran expects to import 12-13bn cu ms of Turkmen gas in 2011....
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
Saudi Arabia Grants Jordan $400Mn
...e projected Arab and foreign aid of some JD440mn ($620mn) in the 2011 state budget, will help in the implementation of several projects included in the budget and in dealing with fiscal challenges. He went on to say that Jordan had not yet received the larger part of the projected aid for the cu...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011