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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 -
EIA Boosts 2010 Demand Forecast To 1.5Mn B/D On Expected Economic Growth
...is spring, rising to an average of about $82/B by the end of the year and to $85/B by the end of 2011.” The EIA said it does not expect OPEC to change its production target of 24.845mn b/d during its mid-March ministerial meeting and added that it expects to see a slight decrease in OPEC surplus cr...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
AIOC Approves Chirag Oil Project, Sees Additional 360Mn Barrels
...ucasus to the Turkish Mediterranean coast. The Azerbaijani government estimates that crude output from the ACG fields now producing will reach 44.8mn tons (896,000 b/d) in 2010, 46.8mn tons (936,000 b/d) in 2011, and 44.6mn tons (892,000 b/d) in 2012. AIOC consortium partners in ACG are: BP (operator, 34...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
Iranian Parliament Approves Outlines Of 2010-11 Budget
...bt Repayment ($Bn) 1388 (2009-10) 6.189 1389 (2010-11) 5.739 1390 (2011-12) 2.333 1391 (2012-13) 2.023 1392 (2013-14) onwards 5.817...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
Turkey Ratifies Nabucco Intergovernmental Agreement
...nal investment decision on the €7.9bn project, designed to carry 31 bcm/year of gas into East and Central Europe. Construction is to begin in 2011 and first gas from the Caspian region should pass through the pipeline in 2014-15. Turkey’s prolonged negotiations with Azerbaijan over the price of gas th...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
Libya’s Hydrocarbon Revenue Projected At $40Bn In 2010 Budget
...ar development plan for 2010-12, with a total outlay of LD84,043mn ($66,701mn). Yearly allocations under the plan, which is included in the budget law, consist of LD29,348mn ($23,292mn) for 2010, LD27,705bn ($21,988mn) for 2011 and LD26,991bn ($21,421mn) for 2012. Libya Opens Door To Foreign Banks Th...
Volume: 53Issue: 10Published at Mon, 08 Mar 2010 -
MENA Defense Spending Declines As Percentage Of GDP, Says IISS
...er the previous decade, with payments increasing to $3.1bn annually by 2011. However, continuing tensions between the government and the Israeli Defense Force (IDF) in the face of the global economic crisis saw a compromise reached whereby the government’s defense expenditure was cut by 2% in 20...
Volume: 53Issue: 10Published at Mon, 08 Mar 2010 -
Morocco Mildly Impacted By Global Financial Crisis, Says IMF
...ans to return to fiscal consolidation beginning in 2011. “This will be important to stabilize the public debt-to-GDP ratio, preserve low borrowing costs in the economy, and facilitate the implementation of monetary policy,” the IMF said....
Volume: 53Issue: 10Published at Mon, 08 Mar 2010 -
Petrochemicals Hub Planned For Egypt’s 'Ain Sukhna
...nancing (advised by Royal Bank of Scotland) is expected to reach financial close this year, with startup of the facility planned for 2013, while the other two (advised by HSBC) will seek financing in 2011 or 2012, and start operating three years later. While the projects will initially focus on ex...
Volume: 53Issue: 09Published at Mon, 01 Mar 2010 -
Sonatrach Plans To Expand Refining Capacity To 40Mn Tons/Year By 2016
...erations, including current projects such as LNG plants in Arzew and Skida,” the CEO said. Algeria has four refineries and is planning to build a new 300,000 b/d capacity refinery at Tiaret. This was originally intended to be brought on-stream in 2011 (MEES, 26 October 2009)....
Volume: 53Issue: 09Published at Mon, 01 Mar 2010