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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 -
MEES Agenda: Oil Revenue Accusations Fly In Run-Up To Sudan’s Election
...yment in Sudanese pounds was a “sinister” trick to destabilize the south’s economy ahead of a 9 January 2011 vote on whether the south should secede from the north. The central bank, however, refuted the claims. “It has never once happened, since the signing of the peace deal in 2005, that the south’s sh...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Crude Prices Slip Further But Remain Above $70/B
...ompted Barclays Capital to adjust its crude price forecast downward to $78/B for WTI in 2010 and $85/B for 2011, respectively $4/B and $7/B lower than its previous forecast. “Following the [US Federal Open Market Committee] statement which reinvigorated the short oil macro theme last week,” Barclay’s Ca...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
CGES Sees Crude Demand Rising But Growth Rate Slowing
...e pace of the increase is likely to slow in the second half of 2010 and in 2011 from the levels seen in the first half of this year, the Centre for Global Energy Studies (CGES) said in its latest Monthly Oil Report (MOR), released on 23 August. This is due in part to the fact that in the first half of...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Second Pipeline Of Central Asia-China Gas System Nears Completion
...ported on 20 August. Line B is scheduled to be operational by the end of September, and will add an initial 9 bcm/year of capacity to the Central Asia-China system, which is intended to reach a throughput capacity of 30 bcm/year by the end of 2011. The 1,833km pipelines connect Turkmenistan’s gas fields al...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Saudi Inflation Rises To 5.5% In June
...ivate sector bank credit”, says the report. Loans worth an estimated SR73bn ($19.47bn) should be booked by banks in the second half and into the first months of 2011. Saudi banks have raised their foreign assets by 13.2% since January in preference to overnight deposits with the Saudi Arabian Monetary Ag...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
Emirates Steel Signs $1.1Bn Project Financing Agreement
...reement on 24 August with a consortium of seven conventional banks and two Islamic finance institutions. The financing will partly fund an ongoing $2.45bn expansion and upgrading program that will raise ESI’s steel production capacity from 2mn tons/year now to 3mn t/y in 2011. Official news agency WAM re...
Volume: 53Issue: 35Published at Mon, 30 Aug 2010 -
KRG Investors Maneuver Ahead Of Hoped-For Oil Breakthrough
...w wells. The UK-based independent aims to drill three appraisal wells and one exploration well through to early 2011. Sources say Korea’s state-owned KNOC has also discovered gas, but testing has not been completed. And UK independent Sterling Energy tested for gas at its first well, but had to stop dr...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Egyptian Refinery Takes Top Spot In African Project Financing
...lyethylene, methanol and ammonium nitrate projects (MEES, 1 March). The ammonium nitrate project is expected to secure financing this year, with the other two looking to approach lenders in 2011 or 2012. While they will focus on export markets, the sponsor hopes that they will ultimately provide feedstock for fu...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
OPEC Warns Of Second Half Slowdown
...ude Oil Production 28.71 29.18 29.10 Balance -0.27 0.95 1.40 Totals may not add up due to independent rounding. OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Rosatom Schedules Loading Of Fuel At Bushehr Nuclear Plant
...at time Bushehr should be able to generate 500mw of power. Full generating capacity of 1.0gw is expected to be reached in early 2011....
Volume: 53Issue: 34Published at Mon, 23 Aug 2010