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Jordan And Morocco Are Not The Best Economic Matches For The GCC
...e estimated to have in 2011 a government budget deficit in excess of 5%, a current account deficit to GDP ratio greater than 6% and an unemployment rate of more than 10% (in fact, 14% for Jordan). To put these numbers in perspective, any of the ratios of GDP that exceed more than a 4% deficit ra...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
IEF Statement: 4th Asian Ministerial Energy Roundtable
...rly March 2011, hoping that Japan will overcome this tragedy and recover soon. To show the solidarity with Japan, the State of Kuwait upon the guidance of His Highness the Amir, Shaikh Sabah al-Ahmad al-Sabah, the Cabinet Ministers have decided to contribute 5mn barrels of crude or by-products to...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
OPEC Holds Outlook Steady In A Volatile Market
...r 2011 oil demand growth are broadly unchanged at around 1.4mn b/d. A minor downgrade to projected OPEC NGL supply growth largely cancelled out a 65,000 b/d upgrade to non-OPEC supply trajectory to leave estimates for growth in the demand for OPEC crude in 2011 fairly steady from last month’s re...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Ma'aden Seeks Financing As Saudi Petchem Giants Plan Market Approach
...llion dollar integrated aluminum project. Others will follow suit this year, hoping to take advantage of considerable domestic bank liquidity. But the $20bn Saudi Aramco/Dow petrochemical complex at Jubail II is not expected to make a move until end 2011/early 2012, and the Saudi Aramco/Sumitomo PE...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
IEA Reduces Demand Growth Forecast On Persistent High Prices
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 IEA Reduces Demand Growth Forecast On Persistent High Prices The International Energy Agency (IEA) has reduced its global oil demand growth forecast for 2011 to 1.3mn b/d, citing persistent high prices and weaker IMF pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
EIA Trims Oil Demand Outlook, Reduces Forecast For OPEC Production
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 EIA Trims Oil Demand Outlook, Reduces Forecast For OPEC Production The Energy Information Administration (EIA) of the US Department of Energy has reduced its forecast for 2011 global oil demand but raised its expectations fo...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Jun May Apr Mar Feb Jan Dec No...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Nabucco Announces Further One-Year Delay, Construction Now To Start In 2013
...s expected in the second half of 2011, for at least one year. He said that construction of the pipeline could start in 2013 with the aim of transporting its first gas volumes in 2017. Yet this may not be the last postponement for the project since Mr Mitschek observed that “the ‘open season’ pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Majlis Approves 2011-12 Iranian Budget
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 IRAN Majlis Approves 2011-12 Iranian Budget The Iranian parliament on 9 May approved the budget bill for the Iranian year 1390, which started on 21 March, with total expenditure of IR5,083 trillion ($484bn at $1=IR...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Government Allocates Further $600Mn To Persian Gulf Star Refinery
...mpleted in 2011, but Mr Zeighami said the company expects the first train of the plant will not be finished for a further two and a half years. He said the refinery, which will comprise three 120,000 b/d capacity trains, is only 40% complete and has been delayed by international sanctions....
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Jordan Announces Price Increases In Some Petroleum Products
...e Jordan Refinery Company (JPRC). The latest price list will apply until 31 May. Product Prices Effective 2 May 2011 (Fils/Liter, Unless Otherwise Stated) 2011 2010 Pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Kuwait Reports $23Bn Actual Budget Surplus In 2010-11
...l revenue also increased to KD1.466bn ($5.3bn) from the projected figure of KD1.103bn ($4.0bn). Over the past years Kuwait has consistently understated its oil revenue by assuming a low oil price in the budget ($43/B in 2010-11) and overstating its expenditure. The draft budget for 2011-12 has pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
OPWP Projects Oman Power Demand Will Near 3.5GW By 2017
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 oman OPWP Projects Oman Power Demand Will Near 3.5GW By 2017 Average demand for electricity in Oman is projected to increase from 1.924gw in 2011 to 3.464gw by 2017, an average growth rate of about 9% per year, according to...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Qatar Banks Continue To Register Strong Growth Rate, Says QNB
...mpound annual growth rate (CAGR) of 30% between March 2007 and March 2011 to reach QR577.2bn ($158.6bn – see chart). “Total assets of the Qatari banking sector increased by 18.4% year-on-year as of March 2011, compared to March 2010 and by 21.0% as of March 2010, compared to March 2009,” said the ba...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
OPEC Countries’ Break-Even Oil Prices Expected To Continue Rising
...spond to fluctuations in prices vary greatly among the OPEC members,” PFC Energy said. The analyst estimates that the majority of OPEC members will require prices moderately higher than current levels to ensure their respective current accounts are balanced in 2011. Seeing a rising share of total ex...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
APICORP’s Net Profit Up By 62% In 2010
...ICORP’s financial strength was also evident in the first quarter of 2011, when it registered a net income of $39.3mn, while both total assets and total shareholders’ equity reached $4.42bn and $1.16bn respectively at the end of 1Q11....
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
EU Imposes Sanctions On 13 Syrian Officials
...s been under US sanctions for a while now and the latest measures are not expected to affect the country in a significant way. The US is not considering regime change in Syria and US Ambassador Robert Ford, who took up his position in Damascus in mid-January 2011, remains in the capital despite th...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Syrian Crude Production Averaged 387,000 B/D In 1Q11
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 syria Syrian Crude Production Averaged 387,000 B/D In 1Q11 Syrian crude oil production in the first quarter of 2011 amounted to 34.828mn barrels (or 387,000 b/d on average), an increase of 4,700 b/d from the same quarter of 20...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Gulfsands Says Its Syrian Output Now Averaging 20,700 B/D
...oduction from these two fields will be increased to some 24,000 b/d by the end of 2011 with the drilling and tie-in of additional development and delineation wells, and via minor upgrades and debottlenecking of existing surface facilities. Gulfsands also announced that operations had recently been co...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Political Comment (16 May 2011)
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 Political Comment (16 May 2011) The gloves are off in Syria as President Asad's cousin warns of "a fight until the end." Qatar has given up on the GCC's attempt to mediate in Yemen. The Palestinians are running out of money af...
Volume: 54Issue: 20Published at Mon, 16 May 2011