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UAE Growth Rate Expected At 3.3% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 11 14-Mar-2011 UAE UAE Growth Rate Expected At 3.3% In 2011, Says Samba The UAE economy underwent a modest recovery in 2010 with overall GDP growth estimated at 1.5%, and growth is expected to pick up to 3.3% this year, according to Sa...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Political Comment (14 March 2011)
...Middle East Economic Survey VOL. LIV No 11 14-Mar-2011 Political Comment (14 March 2011) France has chosen to recognize the Libyan insurgents just as the tide of battle may be turning against them. Yemeni President 'Ali 'Abd Allah Salih continues to insist on serving his full te...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Fiscal Break-Even Prices: What More Could They Tell Us About OPEC Policy Behavior?
...ICORP). It is published concurrently in APICORP’s Economic Commentary dated March 2011. The views expressed are those of the author only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com. As markets currently operate, oil producers’ fiscal policies are unarguably not a key de...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Mitschek: Nabucco Project’s Key Aim Is Supply Security
...ace in Baku to intensify the dialogue for the conclusion of gas supply contracts. These are expected to be finalized in the course of 2011. Q: Would the 10 bcm/y of Shah Deniz Phase 2 gas suffice to make a 31 bcm/y project financially viable? A: The 10 bcm/y from Shah Deniz 2 would be a start fo...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Japanese Crude Oil Imports Down Slightly During January 2011
...Middle East Economic Survey VOL. LIV No 10 7-Mar-2011 Japanese Crude Oil Imports Down Slightly During January 2011 Japanese crude oil imports averaged 4.015mn b/d in January 2011, down by 1.85 from 4.091mn b/d in December 2010, according to monthly import data released by Japan’s Mi...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Saudi Aramco Leaves Propane Price Unchanged For March, Butane Up By $50/Ton
...Change Propane Butane Change Propane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 93...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 10 7-Mar-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Feb Jan Dec Nov Oct Sep Aug Jul Ju...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Nazarbayev To Offer KMG EP Shares To Kazakh Nationals
...d serve as an instrument for investment and savings.” On 11 February Mr Nazarbayev told his government to prepare IPOs offerings by the end of 2011 not only for KMG – 5% of equity in its exploration and production subsidiary KMG EP is to be floated on the Astana Stock Exchange in 2011, and is ex...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Turkmenistan And China Sign Preliminary Deal For Expansion Of Gas Exports
...eld. The agreement will be finalized within the second half of this year, according to China’s National Development and Reform Commission. China imported around 6 bcm of Turkmen gas via the Central Asian pipeline in 2010 and is looking to boost imports to 15 bcm in 2011 and 20 bcm in 2012....
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Cyprus Ratifies Delimitation Agreement With Israel
...pected to begin before the end of 2011 in Cyprus’s Block 12, which lies near the recent Leviathan discovery made in Israel’s EEZ by Houston-based Noble Energy (MEES, 21 February)....
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Iraqi Parliament Approves Record 2011 Budget Based On $76.50/B Oil Price
...Middle East Economic Survey VOL. LIV No 10 7-Mar-2011 IRAQ Iraqi Parliament Approves Record 2011 Budget Based On $76.50/B Oil Price The Iraqi parliament on 20 February gave the final green light to the 2011 draft budget after several unsuccessful attempts that necessitated the re...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Transparency Improving, But Bolder Anti-Corruption Actions Still Needed, Says TI
...ould take bolder actions to stop corruption, according to the 2011 Report on Oil and Gas Companies by Transparency International (TI) and Revenue Watch Institute (RWI). “It is good news that transparency is improving, but too few companies publish what they pay governments in each country where th...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Saudi Economic Fundamentals Positive Despite Regional Turmoil, Says Samba
...mestic financial markets, said Samba in its February 2011 Economic Monitor. Preliminary figures released by the Ministry of Finance show that the Saudi economy grew by 3.8% in real terms in 2010, up from 0.6% in 2009. The government sector grew by 5.9%, while the private sector expanded by 3.7%. “The ye...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Political Comment (28 February 2011)
...Middle East Economic Survey VOL. LIV No 9 28-Feb-2011 Political Comment (28 February 2011) The internet intifada has reached Libya, where by the end of the week Col Qadhafi was defiantly fighting a rearguard action against a violent uprising. The Americans have taken the lead in tr...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Nabucco Confirms 2014 Target For Pipeline Start-Up
...nstruction of the Nabucco Gas Pipeline project would begin in 2011 and that first gas would be pumped through the 3,300km conveyor in 2014. “We are aiming to start with the construction at the end of 2011 and we’ll expect first gas to flow at the end of 2014,” Mr Mitschek said in a statement issued from Vi...
Volume: 53Issue: 13Published at Mon, 29 Mar 2010 -
Greece And Italy Promote ITGI Gas Pipeline As Best Start To Southern Corridor
...t underway in 2011. Mr Sachinis said that the IGB project – priced at $145mn – will be more cost effective than other projects proposed to carry gas to Southeast Europe, as each billion cu ms of capacity will translate into a cost of around $30mn. He also noted that the ITGI and IGB projects can mo...
Volume: 53Issue: 12Published at Mon, 22 Mar 2010 -
Higher Crude Prices Adopted For 2010 Budgets
...direct heavy investments across all major sectors. Angolan authorities are expected to follow IMF advice and rebuild reserves before allowing imports to rise strongly again, reflected in the moderate price thresholds projected for 2010 and 2011. Although substantial variations in required prices co...
Volume: 53Issue: 12Published at Mon, 22 Mar 2010 -
Saudi Economy Registers Positive Growth But Concerns Over High Inflation, Says Samba
...storical norms. Samba expects the rate of inflation to remain broadly stable in 2010, averaging around 4.5%, before edging up to 5% in 2011 as trading partners’ inflation picks up, wheat prices rise, and domestic economic activity firms. Despite the recovery in private economic activity, bank credit is st...
Volume: 53Issue: 12Published at Mon, 22 Mar 2010 -
Iraq’s Oil Revenue Projected At $48Bn In 2010 Budget
...conservative oil price assumptions, the external current account and the overall balance of payments are expected to remain in deficit in 2010 and 2011. At the same time Iraq’s fiscal position is projected to record significant but declining deficits in both these years, before returning to su...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
MEES Agenda: Bahrain Pushes Ahead With Oil And Gas Development
...be made at year-end or in early 2011. Assessment work continues on whether it should be a floating LNG regasification facility, along the lines of Kuwait’s floating LNG import unit, or a fixed plant. Shell has set up a large Dubai-based trading operation, in part to service these types of deals. Th...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010