1. Political Comment (9 May 2011)

    ...Middle East Economic Survey VOL. LIV No 19 9-May-2011 Political Comment (9 May 2011) Fatah and Hamas have formally signed their reconciliation agreement, described by the Israelis as "a victory for terrorism." The Muslim Brotherhood in Egypt has formed a political party to co...

    Volume: 54
    Issue: 19
    Published at Mon, 09 May 2011
  2. Iraq Launches Exploration Round

    ...158 5.551 1.616 7.167 107.13 Q1 2011 Avg. 1.712 0.461 2.173 5.044 1.394 6....

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  3. Oil Prices Hold Steady Despite US Stock Build

    ...er political unrest in the Middle East and North Africa, and prices are also supported by the slumping value of the US dollar. Meanwhile, ExxonMobil reported a profit for the first quarter of 2011 of $10.7bn, prompting some US politicians to call for a halt to the tax breaks that oil companies re...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  4. Crude Oil Formulas/Posted Prices

    ...Middle East Economic Survey VOL. LIV No 18 2-May-2011 Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B)               2011 2010 May Apr Mar Feb Ja...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  5. Botas Looking To Increase Gas Allocation From Shah Deniz 2 By 4 BCM/Y

    ...pply agreements of June 2010 (MEES, 14 June 2010). Mr Ozgul said that the proposed increase in Shah Deniz 2 supply will be consolidated in the form of a gas purchasing agreement to be signed between Azeri state firm Socar and Botas by 30 June 2011 “at the latest.” He added that “we expect that we wi...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  6. China Extends Strategic Influence Over Turkmen Gas

    ...crease its projected gas imports via the Central Asia to China gas pipeline by 2.7 bcm/y by the end of 2011 compared to an initial estimate of 15 bcm/y. In 2010 the pipeline transported 6 bcm/y to China’s Xinjiang province and around 3.2 bcm/y during the first quarter of 2011. CNPC now plans to expand it...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  7. BP And Socar Discuss Exploration Of Shafag-Asiman Block

    ...reement (PSA), in a meeting in Baku on 27 April. Operator BP and Socar signed the Shafag-Asiman PSA in October 2010, with both companies holding 50% equity. The PSA is valid for 30 years, but has yet to be ratified by the Azeri parliament. It calls for the beginning of exploration work within 2011. The ex...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  8. IMF Sees Regional Uprisings Providing Long Term Opportunities, Near Term Pressures

    ...e foundations for a socially inclusive and more dynamic economic growth model. In the near term however, countries face multiple pressures stemming from higher commodity prices and disruptions to economic activity, the IMF said in its April 2011 Regional Economic Outlook for the Middle East, No...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  9. Tough First Quarter For Saudi Private Sector, Says Jadwa

    ...Middle East Economic Survey VOL. LIV No 18 2-May-2011 SAUDI ARABIA Tough First Quarter For Saudi Private Sector, Says Jadwa The first quarter was a tough one for the private sector in Saudi Arabia, according to the April 2011 Monthly Bulletin published by Jadwa Investment. In to...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  10. Topaz Secures Two-Vessel Offshore Support Contract In Nigeria

    ...geria for the duration of 2011, the company announced on 26 April. Topaz has mobilized two anchor handling tug supply vessels, Topaz Johor and Topaz Jurong, for an eight-month contract to support operations in the Atlas, Mira and Britannia fields offshore Nigeria, on behalf of AXXIS Petroconsultants Lt...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  11. Political Comment (2 May 2011)

    ...Middle East Economic Survey VOL. LIV No 18 2-May-2011 Political Comment (2 May 2011) In Syria the authorities have decided to respond to protests with repression rather than reform. The two main Palestinian parties, secular Fatah and Islamist Hamas, have sprung a surprise by re...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  12. WEF’s Repowering Transport Project – Review And Implications

    ...ICORP’s Economic Commentary dated May 2011. The author wishes to state that there is no conflict of interest arising from this review and that the opinions expressed reflect his personal views only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com On 4 April the World Economic Fo...

    Volume: 54
    Issue: 18
    Published at Mon, 02 May 2011
  13. SEC Mulls Issuing International Paper After Sukuk Success

    ...id. He suggests that the company will issue more Sukuk (all three are of the al-Istithmar type) in the Kingdom if needed, and while he does not expect to tap the market again this year, a 2011 foray is a possibility. Tenors in the Saudi market are not usually long, so it was a challenge to go out to se...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  14. Independents Growing In Importance For Gulf Oil And Gas Developments

    ...s long-standing target of 50,000 boed output and proven and probable reserves equivalent to 300mn boe by year end. To achieve this it would have to buy producing assets. At the same time, efforts to be listed in London and Kuwait have been put back to the start of 2011. Some industry analysts doubt th...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  15. Turkmenistan To Build East-West Gas Pipeline Without Outside Help

    ...leged overstating of production costs by the consortium, which could have led to a $1.3bn fine. ChevronTexaco Vice-President Ian MacDonald told a conference on 20 May that a decision to expand the production of Kazakhstan’s Tengiz oil field could be taken in 2011. A proposed $3bn expansion would ad...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  16. Maan Solar Power Project Launched By Jordanian/Italian Consortium

    ...alian firm Solar Ventures on 19 May unveiled plans for a solar power plant to produce 100mw by about 2012, capable of expansion to more than 200mw. The Shams Maan project will cost up to $400mn, and its construction is slated to begin in 2011. The consortium is currently examining the photovoltaic te...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  17. IMF Says Regional Oil Exporters’ Growth Remains Below Pre-Crisis Levels

    ...ck up in 2010 and 2011, amid strengthening oil demand and production increases, though not to pre-crisis levels, the IMF has said in its Regional Economic Outlook for May 2010. Such positive factors, the report says, are expected to be slightly offset by pressures in the banking system and low credit gr...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  18. EFG-Hermes Pledges €15mn To InfraMed Infrastructure Fund

    ...€100mn or 20% of the fund’s total commitment to investments in each of Egypt and Morocco alongside InfraEgypte and InfraMaroc. InfraMed’s sponsors will target a first close for InfraEgypte and InfraMaroc in the first quarter of 2011....

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  19. Petrochemical Project Financing Activity To Pick Up In 2011

    ...Middle East Economic Survey VOL. LIII No 22   31-May-2010 SAUDI ARABIA Petrochemical Project Financing Activity To Pick Up In 2011 Financing activity in the petrochemical sector in Saudi Ar...

    Volume: 53
    Issue: 22
    Published at Mon, 31 May 2010
  20. BP Wins ‘Game-Changing’ Terms For Nile Delta Offshore Block

    ...cilities project, by the year-end and Phase 8, which will involve drilling 10 wells, by the end of 2011. Each phase is expected to cost $1bn. The last two will not increase production, but will maintain the output level. Mr Sufi told MEES that BG will finish two more wells on the El-Manzala and El-Burg co...

    Volume: 53
    Issue: 21
    Published at Mon, 24 May 2010