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Sonatrach Shortlists Firms For Tiaret And Algiers Refinery Projects
...ing on-stream in 2011, but which now looks unlikely to be completed before 2014 at the earliest. Sonatrach’s head of downstream 'Abd al-Hafid Feghouli told MEES in November last year that the company expected to see the project’s total costs reduced from $6bn to $5bn, due to the fall in co...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
Political Comment (26 October 2009)
...r troop withdrawals, which calls for an end to combat missions by 31 August 2010 and the removal of all US forces by the end of 2011. Obama Engages With Sudan On 19 October President Barack Obama launched what could be a new era of engagement in Washington's problematic relations with Kh...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
Producing Countries Deliberate Higher Crude Prices For 2010 Budgets
.../B from this year’s $41/B, and is forecasting that Urals crude, its export grade, will reach $59/B in 2011 and $60/B in 2012. Nigeria has adopted $50/B, up from $45/B this year, and Finance Minister Mansur Muhtar has said he sees scope to hike this further if energy prices continue to remain hi...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UK Treasury Orders Financial Firms To Stop Trading With Bank Mellat, Iran Shipping Lines
...ansfer 80% of the once wholly state-owned bank into private hands by late 2011....
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
BofA Merrill Lynch Predicts Strong GCC Growth
...see an average real GDP growth of 8.01% in 2010, mostly due to its expansion in LNG capacity. As the non-oil sectors will likely be the main drivers of Qatari growth beyond 2011, the firm posits an unclear picture for the country’s long-term growth due to falling inflation (caused by a st...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UAE To See Modest Economic Recovery in 2010, NBK Projects
...fice space by 50% by 2011. Inflation, meanwhile, is expected to remain low, perhaps below the estimated 2009 figure of 1.9%, due to much lower growth in labor costs, depressed housing rents, and a competitive retail market. A rise in UAE interest rates is also thought to be unlikely, due to the su...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
Ras Tanura Petrochemical Complex Expected To Cost $23-26Bn
...e London meeting the partners continued to thrash out all details of the agreements necessary to push ahead. However, with a project of this size, the lead times are long and the sponsors (advised by Royal Bank of Scotland and Riyad Bank) are not expected to seek financing until 2011. Before Ra...
Volume: 52Issue: 41Published at Mon, 12 Oct 2009 -
Pressure Mounting On Iran’s Energy Sector, Despite Closer Ties With China
...nsultant Mehdi Varzi. “Iran has had to go further and further east. So Chinese companies have come in, Russian companies have said they’re going to commit themselves. But the whole process is very belated… The Iran LNG project is supposed to come on-stream in 2011. I would say that it can only come on-st...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Jordan Signs Agreement For Qatraneh Power Project
...10, while the second combined cycle phase will become operational in August 2011. Jordan needs to increase generation capacity by around 300mw annually to meet rising electricity demand, according to the Ministry of Energy and Mineral Resources strategic plan....
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Emerging Market Sovereign Credit Resilient To Recent External Shocks, Says S&P
...sitive real per capita income growth in 2009, while eight will continue to contract in 2010. The fiscal position of almost every government will be worse than that of the preceding five years as automatic stabilizers operate. Comparing 2007 with 2011, government debt levels are expected to increase by...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009