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CIS Development Hinges On Security And Cooperation
...tlined Phase 1 development plans. A final investment decision (FID) is due to be made on offshore and gas export facilities in March 2011, and another FID is due the following December concerning the LNG plant. The drivers in this project, Mr Madeo said, are the schedule, capital and operating ex...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Baghdad Eyes 600,000 B/D Of New Oil Capacity By End-2011
...e 7 March elections. The ministry has been making progress on resolving obstacles to the development of shared fields with Iran and it expects projects awarded last year to deliver around 600,000 b/d of new capacity by the end of 2011, Iraqi Deputy Minister for the Upstream ʹAbd al-Karim Laibi tells ME...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
QP Abandons Planned Al-Shaheen Refinery Project
...ipped to early 2011, MEES further learns....
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
Surging Demand Threatens Middle East Exports
...ursaniyah (1bn cfd, 2010), Karan (1.8bn cfd, in stages during 2011-13) and the Wasit Gas Plant (2.5bn cfd, 2014), Mr Falih said. Sales gas capacity will increase from 7bn cfd to 9.3bn cfd by 2015. Ethane production capacity will rise from 800mn cfd to 1.2bn cfd, while NGL production capacity will grow from 93...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Saudi Arabia Pursues Energy Diversification Via Nuclear/Renewable City
...newable field. Saudi Aramco and Japanese refining company Showa Shell agreed in mid-2009 to build a 10mw solar pilot project in the Kingdom. If this is successful when completed in 2011, it could be expanded into a much larger project, especially given that development of solar technology has support from ke...
Volume: 53Issue: 17Published at Mon, 26 Apr 2010 -
Qatar’s Record 2010-11 Budget Targets Infrastructure Growth
...tput To Hit 77Mn Tons/Year By 2011 Qatar’s Prime Minister Shaikh Hamad bin Jasim Al Thani estimated 2010-11 GDP growth at 16%, at an investment forum in Paris on 25 March. He confirmed that Qatar expected to boost its LNG production to 77.4mn tons/year by 2011, from the current 56mn t/y level. Qatar’s fo...
Volume: 53Issue: 15Published at Mon, 12 Apr 2010 -
‘Cancun Declaration’ Looks To Intensify Producer/Consumer Dialogue
...equently. The charter should be approved at a ministerial meeting which is scheduled to take place in Riyadh by March 2011. Delegates met in a “completely different energy landscape” from the last meeting in Rome two years ago. The oil market turmoil of 2008 has been the catalyst for driving this ex...
Volume: 53Issue: 14Published at Mon, 05 Apr 2010 -
Greece And Italy Promote ITGI Gas Pipeline As Best Start To Southern Corridor
...t underway in 2011. Mr Sachinis said that the IGB project – priced at $145mn – will be more cost effective than other projects proposed to carry gas to Southeast Europe, as each billion cu ms of capacity will translate into a cost of around $30mn. He also noted that the ITGI and IGB projects can mo...
Volume: 53Issue: 12Published at Mon, 22 Mar 2010 -
Iraq’s Oil Revenue Projected At $48Bn In 2010 Budget
...conservative oil price assumptions, the external current account and the overall balance of payments are expected to remain in deficit in 2010 and 2011. At the same time Iraq’s fiscal position is projected to record significant but declining deficits in both these years, before returning to su...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
MEES Agenda: Bahrain Pushes Ahead With Oil And Gas Development
...be made at year-end or in early 2011. Assessment work continues on whether it should be a floating LNG regasification facility, along the lines of Kuwait’s floating LNG import unit, or a fixed plant. Shell has set up a large Dubai-based trading operation, in part to service these types of deals. Th...
Volume: 53Issue: 11Published at Mon, 15 Mar 2010 -
Libya’s Hydrocarbon Revenue Projected At $40Bn In 2010 Budget
...ar development plan for 2010-12, with a total outlay of LD84,043mn ($66,701mn). Yearly allocations under the plan, which is included in the budget law, consist of LD29,348mn ($23,292mn) for 2010, LD27,705bn ($21,988mn) for 2011 and LD26,991bn ($21,421mn) for 2012. Libya Opens Door To Foreign Banks Th...
Volume: 53Issue: 10Published at Mon, 08 Mar 2010 -
MENA Defense Spending Declines As Percentage Of GDP, Says IISS
...er the previous decade, with payments increasing to $3.1bn annually by 2011. However, continuing tensions between the government and the Israeli Defense Force (IDF) in the face of the global economic crisis saw a compromise reached whereby the government’s defense expenditure was cut by 2% in 20...
Volume: 53Issue: 10Published at Mon, 08 Mar 2010 -
Petrochemicals Hub Planned For Egypt’s 'Ain Sukhna
...nancing (advised by Royal Bank of Scotland) is expected to reach financial close this year, with startup of the facility planned for 2013, while the other two (advised by HSBC) will seek financing in 2011 or 2012, and start operating three years later. While the projects will initially focus on ex...
Volume: 53Issue: 09Published at Mon, 01 Mar 2010 -
Abu Dhabi’s ADCO Targets 1.8Mn B/D Oil Capacity
...heduled for 2011 start-up, will now come on stream in 2015. Zadco is also looking to boost capacity at its Satah field by around 10,000 b/d to 25,000 b/d by 2013. Meanwhile Abu Dhabi’s other offshore operator, ADMA-OPCO, is looking at expansion at its Umm al-Lulu field and has also studied a major ca...
Volume: 53Issue: 08Published at Mon, 22 Feb 2010 -
Iraq’s Regions Look To Reap Rich Oil Dividend
...iji refinery, the focus is on improving product quality and gasoline output, rather than distillation capacity. There have been some delays. It had been hoped to boost gasoline output from 6,000 cmd (37,740 b/d) to 10,000 cmd (63,000 b/d) by mid-2010, but now this will only happen in 2011, Mr Sham'a sa...
Volume: 53Issue: 07Published at Mon, 15 Feb 2010 -
Gulf Bond Issuers Spooked By Greek Debt Woes
...anwhile, a public debt office being set up by the UAE’s Ministry of Finance is not expected to sell bonds until 2011. Abu Dhabi could go ahead and launch bonds, but anything outside of its remit would have a difficult passage, said market observers. “Dubai will have to a lot of work to do to get back the tr...
Volume: 53Issue: 07Published at Mon, 15 Feb 2010 -
North Africa’s Largest Project Financing Eyes Finishing Line
...TK) contract and is scheduled for completion in 2014 (MEES, 24 August 2009). It was originally due on stream in 2011 at a cost of $2.25bn (MEES, 26 January 2009, 30 June 2008)....
Volume: 53Issue: 05Published at Mon, 01 Feb 2010 -
Saudi Aramco Takes Central Role Downstream
...oject, which will cost around $25bn and comprise 34-35 units (and being advised by RBS and Riyad Bank) could seek funding at the end of 2010, but some see 2011 as more likely. It is unclear at this stage how the financing for PETRORabigh II, which is expected to cost around $10bn, will be slotted in...
Volume: 53Issue: 04Published at Mon, 25 Jan 2010 -
Dubai Maintains Fiscal Budget Stimulus Despite Debt Woes
...in a better financial position in 2011 because most of its commitments on infrastructure projects would have been met. The statement also provided details of allocations to the following major sectors in 2010: Dh17.45bn ($4,751mn), or 49% of the total budget for the economic sector, in...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Qatar Eyes LNG ‘Mega-Train’ Finishing Line
...mpleted and commissioned by June of this year and Train 7 hopefully by September.” The mega-trains require up to a couple of months to go up to full capacity. There are concerns full production at Train 7 might slip into 2011 (MEES, 30 November, 2009). But “a delay of a month or two is not a big de...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010