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MENA Turns To Solar Power For EOR As Well As National Grids
...nerate 10% of its electricity from renewables by 2020. Its power stations burn fuel oil and crude, and Kuwait consumed 413,000 b/d of oil in 2010 – about 16% of production, according to the BP Statistical Review of World Energy for 2011. Its electricity demand is growing about 8% a year, but it is doing li...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Oil Prices Rally After Greek Referendum U-Turn, Improved US Data
...ok very good. Supply, demand and stock levels are all very healthy. No one is complaining about that.” OPEC Secretary General 'Abd Allah al-Badri said in Tehran on 1 November that he did not see the price of crude oil falling below $100/B for the remainder of 2011. The OPEC Basket has averaged $10...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
OPEC Output Rose In October
...nsiderably last month. Shipping data also points to an increase in Kuwaiti output. OPEC Crude Oil Production October 2010 – October 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Oct Sep Aug Jul Jun May Ap...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Japanese Crude Oil Imports Rise To 3.6Mn B/D During September
...861mn b/d in September 2010. Japan’s crude imports from Saudi Arabia rose to 1.208mn b/d in September 2011, maintaining the kingdom’s place as top crude supplier to Japan. Imports from the UAE averaged 839,960 b/d during September, while Kuwait supplies rose to 319,632 b/d, and Qatar supplies declined to...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Saudi Crude Prices Mainly Increased To Western Markets, Reduced To Asia
...20/B. On the spot market, Murban sold at ADNOC plus $0.20/B in late October compared to ADNOC plus $0.30/B in late September. Qatar Marine was sold for QP plus $0.60/B in late October compared to QP plus $0.80/B in late September. The formulas for December 2011 and the previous 12 months for de...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Saudi Aramco Raises Propane Price, Reduces Butane
...opane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 50...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Oct Sep Aug Jul Jun May Apr Mar Fe...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Bahrain SWF Will Hold $275Mn By End-2011
...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Bahrain Bahrain SWF Will Hold $275Mn By End-2011 Bahrain’s Future Generations Reserve Fund (FGF) will have accumulated $275mn by the end of 2011, according to projections by the Bahraini Ministry of Finance. The so...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Moody’s Reaffirms Negative Outlook For Bahrain Banking System
...d 3% for 2011 and 2012 respectively, representing a dip from the 4.5% growth posted in 2010 and the 6-8% growth achieved during 2006-08. “Given our growth forecasts, asset quality pressures are likely to increase, particularly for loans originated to the tourism and retail trade sectors where the po...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Finance Minister Survives Impeachment Vote
...ency reported on 30 October. The report said the company’s financial assets had increased in value from $50,000 in 2005 to almost $3.5bn in 2011. Mr Amir Khosravi has reportedly flown to Montreal. Former Melli Bank chairman Mahmoud Reza Khavari, who is at the center of the scandal, later flew to To...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Iran Plans Electricity Interconnection With Russia
...id that during the first half of the current Iranian year (21 March 2011 – 20 March 2012) Iran’s power exports to neighboring countries amounted to 4bn kwh. “Iran currently exchanges electricity with Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan, and Iraq,” Mr Behzad said. “Th...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Israel Contracts Italy’s Micoperi For Offshore LNG Terminal
...rst three quarters of 2011 more than doubled from the same period during 2010 to 358,000 tons. During the third quarter alone, IEC burned some 307,000 tons. By the end of 2011, Israel’s gasoil demand is expected to reach 600,000 tons and account for 15% of the electricity generated. The Ministry of...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Political Comment (7 November 2011)
...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Political Comment (7 November 2011) The Syrian government's acceptance of an Arab League plan to end its confrontation with domestic opponents has met a sceptical reception. Libya has a new prime minister. The Palestinians ha...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Global And MENA Energy M&A: An Investment Of Choice Or Of Last Resort?
...rporation (APICORP) dated November 2011. The authors are respectively Deputy General Manager and Senior Consultant at APICORP. The views expressed are theirs only. Comments and feedback may be sent to aaissaoui@apicorp-arabia.com. The recent wave of large-scale mergers and acquisitions (M&A) in North Am...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Qatar To Keep Crude Production Capacity At 1Mn B/D
...nsultants in the way that Saudi Aramco has, nor has it developed its own workforce,” he says. Qatar’s average output in November is about 830,000 b/d due to OPEC quotas and field shutdowns. QP will partially shut in Dukhan production in the fourth quarter of 2011 for three weeks, during maintenance of...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Turkmenistan Tilts Towards West, Considers Rapprochement With Azerbaijan
...PC and Turkmengaz, once the 1,000km, 30 bcm/year capacity East-West pipeline is com-pleted in 2014. On top of that, the former head of Turkmengaz noted, “as early as 2011, Turkmenistan needs a market for gas produced by the Malaysian Petronas company on an offshore block at a rate of 5 bcm/y.” Me...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
IEA Forecasts Significant Rise In Renewable Energy During Next 25 Years
...pects a credit shortfall in the euro area of some $150bn in 2010, with marginal improvements in 2011. In the US, the credit shortfall is expected to be of the order of $280bn in 2010, but the situation is expected to improve substantially in 2011, with the shortfall being reduced to $50bn, the WEO re...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
CGES Reports Demand Boost In Third Quarter, But Expects Decline In Future
...main stable around their current level in 2011,” the MOR said. The surge in oil demand, which followed an increase in the second quarter, brought to an end 10 consecutive quarters of global stockbuilds, the report said, adding that the last quarter in which global inventories fell was the first qu...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
EIB Grants €500Mn Loan For Algeria-Spain Gas Pipeline
...nancing amounting to €3.7bn in the Mediterranean between 2002 and 2009, the EIB described Medgaz as “an operational priority.” Having been delayed several times thus far, the Medgaz pipeline – costing an estimated €1.009bn – is scheduled to come on stream in early 2011....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
EC Introduces Third Party Access Changes to Russia-Bulgaria South Stream JVC
...mponents of the planned 63 bcm/year pipeline system, in line with EU legislation that is expected to come into full force by March 2011. Ms Holzner said that the commission was invited by the Bulgarian government to consult with it during the negotiations with Gazprom. This would be considered un...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010