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ESAI Forecasts Crude Oil Demand Growth Of 1.75Mn B/D For 2010, 1.5Mn B/D For 2011
...Middle East Economic Survey VOL. LIII No 38 20-Sep-2010 ESAI Forecasts Crude Oil Demand Growth Of 1.75Mn B/D For 2010, 1.5Mn B/D For 2011 Energy Security Analysis, Inc (ESAI) has forecast cr...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Ukraine Says LNG Project With Kazakhstan Postponed, Outlines Gas Production Plan
...zakhstan’s draft budget, issued on 13 September, indicated that Astana plans to produce 81mn tons of crude and condensate in 2011, and to increase production further to 83mn tons in 2012. The draft said that this year Kazakhstan exceeded its production quota of 80mn tons by 2-3mn tons, due to increased ou...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
IAEO Chief Says Bushehr Nuclear Plant Will Reach 40% Capacity By Year-End
...s full production capacity by the end of 2010. Iran aims to raise Bushehr output to its full capacity of 1gw by the end of March 2011....
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Kuwait Plans Four Nuclear Reactors By 2022, KNNEC Chief Says
...e most common material to be used as a coolant, but the emirate’s coastline is heavily populated. Meanwhile, Mr Bishara recently told Bloomberg in an interview that the emirate was currently drafting a roadmap for its nuclear program. The plan, which could be ready by January 2011, will include a ti...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
US Threatens Sanctions If Sudan Referendum Is Delayed
...ople. It is scheduled for 9 January 2011, with most voters expected to back partition. On a recent visit to the country, President Barack Obama’s envoy Scott Gration “made clear that there are a range of consequences that will be deployed if the situation in Sudan deteriorates or fails to make pr...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Gulfsands’ Syrian Oil Production Now Averaging About 20,000 B/D
...25% of the exploration license for Block 26, thereby reducing the acreage to 5,414 sq km. At the same time the term of the license was extended till August 2011. ...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Kulczyk Oil Sells 30% Interest In Syria’s Block 9
...2011. Late last year Kulczyk announced that it has agreed to transfer 20% interest in Block 9 to Triton Petroleum and a 5% interest to an unrelated party (MEES, 21/28 December 2009). Following this latest sale of equity, Loon Latakia will now have a 45% interest in the block; MENA Hydrocarbons (Sy...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Multi-Billion Dollar Financing Proposal Boosts Nabucco Project
...ch agency, Nabucco said. Soon after, ECAs and international banks are expected to commence their due diligence, with commitments from potential lenders being sought in 2011 and the wrapping up of the entire financing package planned for the second half of 2011, said Nabucco. However, some financiers su...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Egypt Courts More Hydrocarbons Investment
...ned affiliate Ieoc, with the remainder owned by Lukoil (24%) and Mitsui (20%). Agiba, a joint operating company owned equally by Ieoc and EGPC, is the operator. Agiba plans to ramp up production via four more wells in 2010 and 2011, to 3,000 b/d of oil equivalent (boed). It is part of Eni’s strategy to...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
OPEC Sees Uncertain 2H10 Demand, Eases Output In August
...en downgraded by 100,000 b/d for both 2010 and 2011. Stocks continue to rise, weighing on the market, the MOMR noted. US commercial stocks are at their highest level since January 1993. And “at 361.7mn barrels, US crude oil stocks continued their contra-seasonal build to reach the highest level si...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Robust Deal Flow In Energy Project Financing
...llar MENA projects are continuing to attract funding. Both sponsors and lenders are encouraged by conditions which are considerably more stable than the immediate aftermath of the financial crisis. They expect the deal flow to remain robust through the rest of the year and into 2011. In fact, many are pr...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Crude Prices Hold Steady With WTI At $74/B
...onomic recovery will slow this year and into 2011. It added that global oil demand will be 86.8mn b/d in 2010 and 87.9mn b/d in 2011, “suggesting increments of 1.9mn b/d and 1.3mn b/d respectively.” In its Weekly Petroleum Status Report, released on 9 September, the US Energy Information Administration (EI...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
EIA Sees Little Change In World Oil Market Outlook
...global oil inventories over the forecast period should lend support to firming oil prices,” the EIA said. “World oil prices are expected to rise slowly as global economic growth leads to higher global oil demand, growth in non-OPEC oil supply slows in 2011 and members of OPEC continue to support wo...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Algeria Launches Upstream Bidding Round Amid Intense Scrutiny
...tober to 20 December. Alnaft will accept proposals for modifications up to 10 January 2011. The final contract will be issued no later than 7 February, with bids to be opened at a ceremony on 3 March, Alnaft said. Contract signing is scheduled for 20 March. The bidding round announcement is significant in...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Gazprom To Double Azeri Gas Imports In 2011
...Middle East Economic Survey VOL. LIII No 37 13-Sep-2010 CASPIAN Gazprom To Double Azeri Gas Imports In 2011 Russia’s Gazprom and Azeri state firm Socar agreed on 3 September to amend th...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Tunisia Supported Throughout Global Crisis By Sound Policies And Reforms, Says IMF
...y 2010 due to rising food prices, but non-food price increases have remained moderate at around 3%. Tunisia: Selected Economic And Financial Indicators, 2005–11 Projections 2005 2006 2007 2008 2009 2010 2011 Pr...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Kazakhstan To Double Oil Export Duties To $40/Ton For 2011
...Middle East Economic Survey VOL. LIII No 36 6-Sep-2010 CASPIAN Kazakhstan To Double Oil Export Duties To $40/Ton For 2011 Kazakhstan’s Minister of Finance Bolat Zhamishev told a cabinet me...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010 -
Khamenei Backs Ahmadinejad’s Push To Remove Subsidies
...ply...the plan for removing subsidies.” The bill is intended to limit subsidies beginning in September, with a view to saving $20bn in the current Iranian year (21 March 2010 – 20 March 2011). However, prominent conservatives have criticized Mr Ahmadinejad for not providing a clear plan on how he in...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010 -
Gulf Banks Recovering Despite $20Bn Loan Losses And Impairments, According To S&P
...e Gulf Cooperation Council (GCC) are starting to recover thanks to high oil prices and government policies. S&P says that the asset quality of Gulf banks rated by the agency should improve from 2011 and that their margins and efficiency will provide a solid foundation for their return to high pr...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010 -
GCC Countries Can Draw Lessons From China’s Exchange Rate Experience
...rprising for the WTI price to pass $100/B in 2011. This reminds us of 2008 when the price reached $147/B in July and inflation in some GCC countries touched 14% and real estate bubbles sizzled. The GCC currencies that are pegged to the dollar became undervalued and revaluation became a necessity to combat im...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010