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IEA Reduces Demand Growth Forecast, Citing ‘Negative Economic Developments’
...ris-based agency, in the latest issue of its monthly Oil Market Report (OMR), released on 13 September, revised global oil demand for 2011 down by 0.2mn b/d and for 2012 down by 0.4mn b/d. “Amid recent negative economic developments, this report has lowered global real GDP growth assumptions for 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
EIA Forecasts Reduction In Demand Growth On Less Optimistic Economic Outlook
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 EIA Forecasts Reduction In Demand Growth On Less Optimistic Economic Outlook The Energy Information Administration (EIA) of the US Department of Energy has projected a decline in crude oil demand growth during 2011-12 in its la...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Global LNG Trade Rose By 21% In 2010, Says FACTS
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 Global LNG Trade Rose By 21% In 2010, Says FACTS Global LNG trade rose to 220mn tons during 2010 and looks set to expand further during the 2011-12 period, FACTS Global Energy said in its 13 September Energy Briefs report. Th...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
China’s Crude Oil Imports Rise During August
...19.43mn tons and 0.7% above the August 2010 import total of 20.90mn tons. During the January-August 2011 period, China has imported a total of 166.32mn tons of crude oil. Total imports during 2010 amounted to 239.31mn tons (4.79mn b/d). China Crude Oil Imports 2010-11 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Crude Oil Formulas/Posted Prices ($/B)
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Algeria’s Forex Reserves Rise To $174Bn By End-June 2011
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 ALGERIA Algeria’s Forex Reserves Rise To $174Bn By End-June 2011 Algeria’s foreign exchange reserves rose to $174bn at the end of June, an increase of $11bn from the figure at the end of 2011, the Governor of the Central Ba...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Total Announces Major Gas Find On Absheron Block
...nuary 2011, are still “too preliminary” to provide an accurate picture of the field’s prospective reserves, a petroleum geologist familiar with the region told MEES that the “topography of the initial results augurs well for the existence of more extensive finds along the northern extension of the fi...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Head Of Audit Court Claims Iran Owes $13Bn For Funding Of Subsidy Cuts
...said the government had not paid back a number of loans used to fund payments made to compensate for the cost increases. He said the government borrowed IR50 trillion from the central bank, under a loan that was to have been paid off by 19 March 2011 but which is still outstanding. A further IR...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
ESAI Charts Return Of Libyan Crude To Market
...itial ramp up of “easy to return” volumes that will boost production to near 300,000 b/d by the end of 2011. There will be another significant increase by late 2012, and output should cross the 1mn b/d mark in early 2013, ESAI said, adding that production should return to 1.5mn b/d by the end of 20...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Sohar Aluminium To Assist OPWP To Meet Peak Power Demand
...har Aluminium during May to July 2010 was limited to 138,239mwh as the grid demand reduced substantially following Typhoon Phet,” it added. However, during 2011 the total power exported to the grid for the peak months of May to August was 457,602mwh. Average demand for electricity in Oman is pr...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Uncertainty Slowing Economic Growth In Palestine, Says World Bank
...a report published ahead of a meeting of international donors scheduled to be held on 18 September. “The IMF has revised the projected real GDP growth rate for 2011 from 9% down to 7%,” noted the report. No significant easing of Israeli restrictions has taken place in 2011, so that the Pa...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Syrian Crude Production Unaffected By EU Sanctions, Says IEA
...oducts if they originate in or have been exported from Syria (MEES, 12 September). The IEA calculated that Syria produced 332,000 b/d of crude during August. According to the agency, Syria exported an average of 39,000 b/d of Syrian Light crude during 2010 and 25,000 b/d during the first half of 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Political Comment (19 September 2011)
...Middle East Economic Survey VOL. LIV No 38 19-Sep-2011 Political Comment (19 September 2011) The three legs of the tripod on which Israeli regional policy has rested are support from the US, peace with Egypt and the alliance with Turkey, and in the wake of Tahrir Square and th...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Iraqi Hydrocarbon Tensions Ratchet Up
...ditional statement that high oil prices had enabled exports in the first seven months of the year to cover the entire 2011 budget needs, “which indicates that Iraq can achieve a high surplus.” Nevertheless any fall in oil price or let-up in the current intense rates of southern loadings could well br...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kuwait Increases LNG Imports And Fuel Oil Exports
...the first eight months of 2011 compared to the same period last year, and looks set to continue imports into November – a month beyond its contracts with Shell and Vitol to provide cargoes until October. A KPC source says Kuwait’s Committee to study building permanent LNG import facilities ha...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
BP Eyes Expansion Of 1Bn CFD Oman Gas Project
...ird quarter 2011, due to a delay in starting up the EWT and the need to await results from a second horizontal well. BP will submit the field development plan to the government by the end of the first quarter 2012. It will then go to tender for engineering procurement and construction (EPC) co...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
OPEC Output Nudges Up
...oduction August 2010 – August 2011 (MEES Estimates – ‘000 B/D) 2011 2010 Target# Aug Jul Jun May Apr Mar Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Saudi Crude Prices Cut To US, Boosted To Europe And Asia
...r October 2011 and the previous 12 months for deliveries to the US, Europe and the Far East – on an FOB Saudi Arabia basis, 50 days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2011...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Aug Jul Jun May Apr Mar Feb Jan De...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 Bahrain Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs Bahrain’s economy saw its real GDP fall by 1.4% in the first three months of 2011 relative to the previous quarter, representing the Gulf state’s fi...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011