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Iraq’s KRG Regional Producers Start Oil Test Flows For Export
...gotiators to the limit. Yet a deal will have to be made. The Taq Taq field development, led by Sinopec and Turkey’s Genel Enerji, and the DNO-led Tawke field, will be providing the vast majority of 2011 exports. Both projects can produce around 50,000 b/d; indeed Taq Taq has gone as high as 67...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
OPEC Shrugs Off Threat To Supply From Potential Egypt Disruption
...praised as to exactly how much new Iraqi supply is expected on the market this year. But at present he does not expect a significant impact. “I am sure for 2011 Iraq will not disturb our production,” he said. But, MEES calculates, rising Basra province output has already boosted Iraq’s capacity by ov...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Iraqi Export Jump Signals Output Surge
...ice slide. If Iraq manages to hit, or even go close to, its 2011 output targets and oil prices remain stable, the country appears poised for a major revenue boost. Last year saw oil income rebound from 2009 lows, despite a slight fall in export levels (see Table 2). The last four months of the ye...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Algerian 2011 Budget Boosts Government Expenditure By 13%
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 ALGERIA Algerian 2011 Budget Boosts Government Expenditure By 13% The latest wave of protests in Algeria and other neighboring countries against economic hardships and political repression highlights the urgent need to ad...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Gas Plants Face Delays
...tended to provide feedstock to the 1mn t/y ethylene cracker at the Gachsaran Petrochemical plant, which was originally scheduled to start up in 2011. New ethane and LPG recovery units in the Parsian gas processing plant are planned to complement phase two of the plant, which started up in 2008, mo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Conference Debates Options For EU Gas Import Pipelines
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 CASPIAN Conference Debates Options For EU Gas Import Pipelines Theodoros Tsakiris reports from Vienna. Germany’s former Vice-Chancellor and Foreign Minister Joschka Fischer made a plea to the 2011 European Gas Conference, wh...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Regional Turmoil Hits Financial Markets
...gion as uncertain political situations will likely remain in focus through 2011,” said JP Morgan in a 26 January update on its recommendations for sovereign paper in the region. It noted that spreads on Tunisia’s dollar denominated bond, which matures in 2012, are 138 bps (basis points) wider on th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Cyprus Government Sees Delek LNG Proposal As Positive Development
...fshore territories, providing each with a legal boundary in which to conduct offshore exploration (MEES, 27 December 2010). The first phase of Noble Energy’s license for Block 12 is due to expire in October 2011 under the terms of its production sharing contract with Cyprus. Before then it must pr...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Question Marks Surround KRG Oil Export Breakthrough Claim
...e meeting, it was also agreed that oil export from the Kurdistan region will resume by February 2011 and that the Kurdistan region will have its share from crude oil to supply the needs of the local refineries and plants,” it added. According to federal oil ministry spokesman Asim Jihad, Ba...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Oman’s 2011 Budget Targets Social Development And Growth
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 OMAN Oman’s 2011 Budget Targets Social Development And Growth Oman’s record budget for 2011 will continue the gearing of public expenditure towards social spending on health, education, housing and infrastructure, as well as...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Badri Hits Back After IEA Labels Oil Prices ‘Alarming’
...global demand for the coming year at 89.1mn b/d of crude, some 1.8mn b/d more than the latest OPEC projection of 87.3mn b/d as published in its latest Monthly Oil Market Report (MOMR) released on 17 January. The MOMR estimates global appetite for OPEC crude in 2011 at 29.4mn b/d, again some 50...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
OAPEC Refining Capacity Boosted By 455,000 B/D In 2009
...e first half of 2011 is expected to be a watershed period for the Saudi refining and petrochemical sector (MEES, 3/10 January, 16 August 2010). Last year a $2.6bn debt package was signed for the Musturud refinery, becoming the largest project financing not only in Egypt, but in Africa. Its su...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Israel’s Delek Proposes Building LNG Facility In Cyprus
...gin an exploratory well in Block 12 before the end of 2011. The government of Cyprus is expected to hold its second offshore bidding round by year’s end. Cypriot energy officials have previously told MEES that it may prove better for the success of the next licensing round if Nicosia were to wait for th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Rumaila Developers Announce Output Milestone
...d problems with a reformer unit for gasoline production are limiting throughputs to around 200,000 b/d, MEES understands. The ministry is working on fixing this. “By the end of 2011, we should go to or close to nameplate capacity at Baiji,” Iraqi Deputy Minister of Oil for the Downstream, Ahmad al-Sh...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Utenov: Kazakstan’s Strategic Oil Exports Outlook
...ginning of construction under the CPC Expansion Project is planned for 2011. It is planned to implement the expansion in three stages, fully completing the project by 2015. Q: Which are the main Kazakh fields that will support CPC’s expansion? A: Mainly the Tengiz, Karachaganak and possibly Ka...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Oil Producers Adopt Higher Crude Prices For 2011 Budgets
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL/ OIL PRICES Oil Producers Adopt Higher Crude Prices For 2011 Budgets The climb in crude oil prices has allowed many MENA countries to post a budget surplus for 2010 and hike the price forecast they will use in th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Saudis Accelerate Multi-Billion Dollar Downstream Drive
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 SAUDI ARABIA Saudis Accelerate Multi-Billion Dollar Downstream Drive The first half of 2011 is likely to be a watershed period for the Saudi refinery and petrochemical sector, with state-owned Saudi Aramco set to...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Yemen’s 2011 Draft Budget Targets Structural Reforms
...Middle East Economic Survey VOL. LIV No 1-2 3/10-Jan-2011 YEMEN Yemen’s 2011 Draft Budget Targets Structural Reforms The Yemeni economy faces a number of economic, social and political challenges, according to the 2011 budget statement issued by the government after ap...
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Saudi Government Unveils Record Expansion-ary Budget
...Middle East Economic Survey VOL. LIII No 52 27-Dec-2010 SAUDI ARABIA Saudi Government Unveils Record Expansion-ary Budget Sustained high crude oil prices this year have provided Saudi Arabia with the impetus to hike 2011 budgeted expenditure 7.4% to a record SR580bn ($15...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010 -
New Iraqi Cabinet Emerges, But Oil Uncertainties Remain
...bari and Deputy Prime Minister Roz Shaways. The Kurds have not accepted any new positions, in the hope of forcing a breakthrough on an oil deal, MEES understands. On 18 December, Kurdish deputies walked out of a parliamentary session to approve the 2011 budget after a clause was inserted – sources say by...
Volume: 53Issue: 52Published at Mon, 27 Dec 2010