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OPEC Sees Future Riven With Uncertainty Despite Tentative Economic Recovery
...finery closures, and the talk of re-openings, appears to contradict the stark realities of refining, especially in the industrialized regions of the world.” OPEC World Oil Outlook 2010 (Mn B/D) 2010 2011 2012 2013 2014 2015 20...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Egypt Poised To Hit GDP Growth Target, But Long Term Challenges Linger
...ctor activity and lower the country’s deficit, as well as the revitalization of external demand through global economic recovery. Reforms targeting energy subsidization for companies, meanwhile, may not be fully implemented until after 2011’s general election. Though the impact of the global ec...
Volume: 53Issue: 45Published at Mon, 08 Nov 2010 -
Iran Boosts Domestic Gasoline Production
...untry’s gasoline production capacity will rise by 188,700 b/d before the end of the current Iranian year on 20 March 2011 (MEES, 25 October). But few outside Iran’s political system take the government’s claims seriously. Consequences For Domestic Petrochemical Industry Any increase in production is...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Sanctions Slow Iran’s Condensate Export Growth
...scounted price to Iran.” Iran Base-Case Condensate Supply Outlook (‘000 B/D) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Current Pr...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
SABIC Sees Good Appetite For First International Bond Issue
...om 2011 onward, according to S&P’s calculations....
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Iranian Crude Production Faces Continual Decline
...oduced a small amount of gas, temporarily, in an attempt to show that the sanctions have no effect, but the gas was not brought onshore, MEES understands. The official start-up date is early 2011, but later in 2011 is more probable, according to FACTS Global Energy. To Inject Or Not To Inject Ma...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
OPEC Keeps Steady Hand On Tiller Amid Uncertain Times
...cession. “The global system is under a big strain,” argues the delegate. “I think some people didn’t learn the lessons of 2008,” he adds. It is noteworthy that OPEC’s global economic growth forecasts at 3.9% for 2010 and 3.6% for 2011 are more conservative than the IMF, which is predicting growth of 4....
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
Shell Commissions $18-19Bn Pearl GTL Plant In Qatar
...ofitable. Shell is commissioning the world’s largest gas-to-liquids (GTL) plant in Qatar, which will produce 140,000 b/d of GTL products and 120,000 b/d of natural gas liquids (NGLs) when it ramps up to full output in 2012. Shell expects to see gas and NGLs in its Pearl plant in early 2011 and to ship it...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Kuwait Launches Four-Year Economic Revamp
...e 2010-11 budget (1 April 2010 to 31 March 2011) published by the government in August hikes spending by 34.6% from the previous year to KD15.7bn ($54.9bn – see tables). It falls short of the record KD19bn ($66.4bn) allocated in the 2008-09 budget, but that increase had focused on areas that do not st...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Saudi Aramco Poised For Next Stage Of Downstream Expansion Drive
...pansion. Bids for construction of the 2.5bn cfd Wasit gas plant, which will produce around 1.8bn cfd of sales gas from the offshore Hasbah and 'Arabiyah fields, are due in by end-October, with award expected by February/March 2011, contractors say. Meanwhile, bids for construction of a gas treatment and NG...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Region Needs $70Bn Investment Over 10 Years To Avoid Power Crisis
...ternative energy research to importing coal. Qatar To Export Electricity, Plans $1Bn Solar Center Qatar, the only Gulf country to have surplus gas and electricity, plans to boost its power production to more than 8.707gw by 2011, from 4.263gw at the end of the second quarter of 2008, according to Qatar’s ge...
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 -
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 -
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 -
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 -
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