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Petroceltic Contracts Dalma For Drilling On Isarene
...troceltic said that data from the results of the earlier drilling campaign suggests that Ain Tsila may be a “world class hydrocarbon resource.” The company plans to present a development plan to the Algerian authorities at the end of the appraisal program, in the first half of 2011. In March, the company ra...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Cyprus To Get Third Wind Farm
...e other also in the Larnaca district. The project is scheduled to be complete by the third quarter of 2011 and its expected advantages include the reduction of 23,220 tons of carbon dioxide relative to the amount of diesel fuel needed to generate the same amount of energy. The Cyprus Ministry of Co...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
CBI Statistics Show Fall In Oil And Gas Export Revenue In 2009
...yments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1388 (2009-10) 3.491 1389 (2010-11) 8.437 1390 (2011-12) 2.346 1391 (2012-13) 2.026 1392 (2013-14) onwards 5.848 The decline in oil re...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Oman’s First Ferrochrome Smelter To Be Completed By End-2011
...rbon ferrochrome smelter into production by the end of 2011. The 75,000 tons/year plant will be built at Sohar, and is expected to cost $70mn. Al Tamman Indisil Ferrochrome, a 50:50 joint venture between Al Tamman Trading Establishment, a wholly-owned subsidiary of Muscat Overseas Group, and Kerala-ba...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Saudi Kayan Seeks Extra $2.4Bn As Capex On Petrochemical Project Rises
...trochemical and chemical products. The company said that it has started trial production at its olefins complex, and plans to start full commercial operations at 15 of its 16 processing units before the end of 2011. When Kayan signed its loan agreement in 2008 (MEES, 9 June 2008) construction was ongoing and SA...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Saudi Construction Showing Strong Recovery, NCB Says
...ntracts awarded to reach $64bn and $86bn in 2010 and 2011, respectively. Fresh Lending To The Construction Sector Source: SAMA and NCB Estimates. The value of projects planned or announced for 2010-15, meanwhile, is roughly SR1,575bn ($420bn), compared to the SR825bn ($220bn) worth of contracts in 20...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Hayan Gas Plant To Start Up In Early 2011
...Middle East Economic Survey VOL. LIII No 31 2-Aug-2010 SYRIA Hayan Gas Plant To Start Up In Early 2011 The Hayan gas treatment plant in Syria’s Jihar field west of Tadmur, which will have ca...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Fujairah’s Safe Haven Port Grows As An Energy Hub
...rmuz. The Abu Dhabi Crude Oil Pipeline (ADCOP) will start operating in the first quarter of 2011. By exporting its oil at a point outside the Strait of Hormuz, Abu Dhabi will reduce journey time of getting oil to markets, avoid the heavy insurance shipping premiums for tankers using the strait during ti...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
CGES Says OPEC Policy Lending Oil Price Support
...t to be tested.” CGES Global Supply/Demand Balance (Mn B/D) 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 2009 2010 2011 World Oil Demand 86.1 86.0 85.8 86.7 87.5 87.5 84.7 86.2 87.7 Non-OP...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Bulgaria And Russia Sign South Stream Implementation Agreement
...e 63 bcm/year South Stream gas pipeline. The agreement, which was linked to the lowering of Russian gas export prices to Bulgaria, sets a deadline of February 2011 for the establishment of the Gazprom-Bulgargaz joint venture company that will own, build and operate on a 50:50 basis the Bulgarian pa...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Vitol To Build New Oil Terminal In Cyprus
...port these products from this terminal to other parts of the east Mediterranean,” VTTI CEO Rob Nijst said at a press conference in Nicosia on 22 July. Construction is expected to begin by January 2011 or earlier, with Mr Nijst adding that the facility’s eventual expansion would be modeled on its si...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Eni Starts Gas Production From Tuna Field Offshore Egypt
...ntinue with in-fill drilling in Temsah field and the development of the Denise B field, which is expected to come into production in 2011, according to Eni....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Jordan Expects To Conclude New Deal To Import More Gas From Egypt
...pply to 3.3 bcm/y by the first quarter of 2011. But he added that in the meantime the Egyptian government had pledged to maintain the full 2.4 bcm/y supply provided for under the 2004 agreement. Mr Irani also noted that Jordan plans to convene a meeting of the AGP member countries in 'Amman to di...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
IMF Expects Kuwait’s Economy To Rebound In 2010
...e exchange rate regime, macro-prudential policies should ensure financial stability if inflationary pressures were to reemerge. Selected Kuwaiti Economic Indicators, 2004–11 2004 2005 2006 2007 2008 Prel 2009 Est 2010 Proj 2011 Oil an...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Moody’s Sees Stable Outlook For Omani Banks And Economic Growth In 2010-11
...imarily for infrastructure projects. “However, banks’ interest rate margins could remain pressured by intense and concentrated competition, while sizeable lending and funding concentrations will raise the banks’ risk profiles,” notes the rating agency. For 2010 and 2011, Moody’s projects the country’s GDP to...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
SABIC Reports Sharp Rise In Income In 1H10
...pacity of 6mn tons of ethylene, propylene and ethylene glycol, is on track, it added in a statement. The company expects 15 out of 16 plants to begin full commercial operations by the end of 2011, according to SABIC Executive Vice-President Musa'id al-Uhali....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Global LNG Market Shows Unexpected Resilience As Qatar Restarts Plants
...the first quarter of 2011. The shutdowns and idling carriers also stoked concerns that Qatar might be deliberately holding back supply – some traders thought the carriers may be full, as Qatar stored LNG waiting for winter demand in the northern hemisphere to drive up prices. Others thought Doha ma...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
OPEC Sees End To Fall In Demand For Its Crude
...Middle East Economic Survey VOL. LIII No 29 19-Jul-2010 OPEC Sees End To Fall In Demand For Its Crude In 2011 demand for OPEC crude will rise, albeit modestly, predicts the latest OPEC Mo...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
IEA Forecasts 2011 Global Oil Demand At 87.8Mn B/D
...Middle East Economic Survey VOL. LIII No 29 19-Jul-2010 IEA Forecasts 2011 Global Oil Demand At 87.8Mn B/D The International Energy Agency (IEA) said global oil demand would rise by 1.6% or...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Kazakhstan Reimposes Oil Export Duty, KMG EP Buys Producing
...venues to amount to $400mn in the second half of 2010 and almost $1.2bn in 2011. Meanwhile, the KMG EP exploration and production subsidiary of state firm KazMunaiGaz (KMG) announced on 13 July that it will buy KMG’s stake in three major producing oil fields for $750mn. A press statement said KMG EP wi...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010