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Mirkazemi Announces Halt To Gasoline Imports As Sanctions Limit Supply
...l and Unipec will continue to supply Iran once Tehran decides to return to the international market, thought likely before the beginning of the next Iranian year on 21 March 2011. China remains a potential major source of Iranian gasoline supplies, although it is not clear how much fuel could also be...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Iran’s CNG Retail Network Rapidly Expanding
...twork has expanded rapidly over the past three years. There are expected to be 1,000 vehicles per CNG retail outlet by the end of the current Iranian year (21 March 2010 – 20 March 2011) compared with 1,400 vehicles in 2009 and 1,700 in 2008. Due to the abundance of Iran’s domestic gas resources, Mr Ro...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
NPCC Export Earnings Up By 30% In First Half Of Year
...dolhussain Bayat, told reporterson 20 September that National Petrochemical Commercial Company (NPCC) export revenues were 30% higher in the first half of the current Iranian year (21 March 2010 – 20 March 2011) than in the same period last year. In a ceremony to mark the 20th anniversary of the founding of NP...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Noble Sanctions Tamar Gas Field Development
...velopment is estimated at $3bn, of which Noble will cover $1.1bn. The company said the majority of key project components have been awarded and development drilling is scheduled to commence by early 2011. The project is expected to come on stream in the fourth quarter of 2012. Noble Energy’s Chairman and CE...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
IMF Says Global Economic Recovery Advances Despite Setbacks To Financial Stability
...10. However, it is projected to slow temporarily during the second half of 2010 and the first half of 2011 due to downside risks, with high uncertainty in financial markets of particular concern. “The combination of sovereign risk and a still weak financial sector in many advanced economies poses si...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Sudan Prepares Policies To Prevent Post-Referendum Economic Collapse
...untry, including price increases which he said were “a very normal phenomenon.” Mr Mahmud said: “In our estimates, 2011 will be better than 2010 as this has been proven by studies we have conducted on commodity price levels, state revenues, the state’s meeting its obligations, and the availability of ha...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Turkey Plans Public Offering for TPAO In 2011
...Middle East Economic Survey VOL. LIII No 39 27-Sep-2010 TURKEY Turkey Plans Public Offering for TPAO In 2011 Turkey’s Minister of Energy and Natural Resources Taner Yildiz on 21 September announced that the government in 2011 will take steps to launch an initial pu...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Saudi Arabia Proposes Record Breaking Arms Deal With US
...dernize hardware and need to counter any insurgents from Yemen. “This will push the defense budget higher in 2010 and 2011, in absolute and percent terms,” he predicts. At this stage it is uncertain when spending on the US deal will kick in....
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Vegas And Shell Ramping Up Egyptian Production
...producing at 1,100 b/d. Subject to state owned Egypt Gas Petroleum Company (EGPC) approval, Vegas will implement a full field development plan in 2011. The consortium has invested almost $100mn in exploration, appraisal and development. The commercial feasibility of producing gas is being reviewed an...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
IEA Raises 2010 Crude Oil Demand Forecast By 50,000 B/D, 2011 Unchanged
...Middle East Economic Survey VOL. LIII No 38 20-Sep-2010 IEA Raises 2010 Crude Oil Demand Forecast By 50,000 B/D, 2011 Unchanged The International Energy Agency (IEA) has revised upward by 50...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
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