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Saudi LPG Prices Reduced For July
...0.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 505.00 1 Feb 735.00 735.00 1 Feb 820.00 81...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Egypt Has No Need For World Bank And IMF Loans For Now
...sted on its website. But Egypt will maintain its technical cooperation with these two organizations and benefit from their expertise. The statement notes that the government amended the draft 2011-12 budget approved on 1 June (MEES, 13 June), following a “social dialogue” which took place between th...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Iran Raises Oil Price Assumption To $95/B In 2011-12
...Middle East Economic Survey VOL. LIV No 27 4-Jul-2011 IRAN Iran Raises Oil Price Assumption To $95/B In 2011-12 Iran has revised its oil price assumption in the 2011-12 budget to $95/B from the previous price of $81.50/B, Iran’s Minister of Economic Affairs and Finance Sh...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Fitch Affirms NBK Rating On Benefits Of ‘Flight To Safety’ By MENA Investors
...rica region, NBK had been benefitting from a “flight to safety” by investors, resulting in a strong and stable deposit base – both corporate and retail. The agency added that net income was continuing on its growth path in 1Q11, with the bank expecting to generate “sound profits” throughout 2011, in...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Oman Expecting Economic Growth Of 5% For 2011
...Middle East Economic Survey VOL. LIV No 27 4-Jul-2011 oman Oman Expecting Economic Growth Of 5% For 2011 Oman’s economy is projected to grow by approximately 5% this year, on the assumption that oil prices stay at current levels, Minister of Finance Darwish al-Balushi said on 29...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
US Sanctions Syrian And Iranian Security Forces For Syrian Crackdown
...madi Moghadam, and his deputy Ahamd Reza Radan as sanctions targets. The latter traveled to Damascus in April 2011 and provided expertise to the government in cracking down on the Syrian people, the department noted. An advisor to Iran’s Minister of Foreign Affairs, Ramin Mehanparast, rejected we...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Political Comment (4 July 2011)
...Middle East Economic Survey VOL. LIV No 27 4-Jul-2011 Political Comment (4 July 2011) While continuing to crack down on protests across the country, the Syrian authorities have allowed opposition figures to meet openly in Damascus. Bahrain has appointed what looks like a truly in...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
A Realistic Outlook For Iraq's Oil Production In 2030
...tlook to 2030, which was prepared at the beginning of 2011, Iraq’s crude oil production is envisaged to rise to 4.5mn b/d in 2020 and 5.5mn b/d in 2030. Nonetheless, BP has announced that among the countries whose production capacity is projected, the biggest uncertainty is related to Iraq. This is at...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Politics Poses Main Challenge To Lebanese Offshore Exploration
...tends to hold an offshore licensing round in 2011, yet there remain a number of important procedural steps that the government must address that could become subject to Lebanon’s unique political circumstances. Speaking at an energy conference in Nicosia on 23 June, Mr Sinoria referred to Lebanon’s hy...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Fuel Shortages Hit the UAE, Threaten Power Supplies
...soline. Last year it began to phase out gasoline subsidies. In April, ENOC said it expected to spend $735mn in 2011 on fuel subsidies – 44% more than it spent in 2010. ENOC CEO Sa'id Khouri said last year that the company needs oil prices at about $40-45/B for it to break even on gasoline sales. In Ja...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
OPEC Risks Undermining Market For OPEC Crude, Says CGES
...an half that seen in the first quarter.” CGES said it is pessimistic about the strength of global oil demand growth in the second half of 2011, but it sees the need for aggregate OPEC oil production to rise by 1mn b/d from its current level. The consultancy said it believes that OPEC’s GCC me...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
FGE Forecasts Rise In Gas Demand In Asia-Pacific
...30, largely as a result of Australia’s relatively robust production, driven by the development of multiple green-field liquefaction projects.” FGE said it sees overall Asian LNG imports rising to almost 152mn tons in 2011, from less than 132mn tons in 2010. “Looking beyond 2011, FGE projects th...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 26 27-Jun-2011 Crude Oil Formulas/Posted Prices ($/B) Nigeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Jul Jun May Apr Mar Fe...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
US Treasury Imposes Sanctions On IRISL Affiliated Companies
...unty to illegally access the US financial system.” The District Attorney’s Office said that IRISL used fake companies to dupe New York based banks into processing wire payments of more than $60mn between September 2008 and January 2011. With the latest action, a total of 121 companies and in...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
NIOC Warns CNPC Over Lack Of Progress On South Pars 11
...uth Pars Phase 11, if CNPC does not fulfill the terms of the agreement, which called for the initiation of project development within the first half of 2011, Mehr News Agency reported on 17 June. CNPC replaced Total as the developer of South Pars Phase 11, but has informed NIOC that it “has been fa...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
NIOPDC Announces Increase In Strategic Fuel Reserves
...serves by 1.5bn liters during the Iranian year ending on 20 March 2011. Iran currently has 13bn liters of various oil products in storage, Mr Salari said. He added that “before the implementation of gasoline rationing and the subsidy reform plan, Iran was forced to import 27mn liters/day of fuel,” ac...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Moody’s Downgrades NBK Ratings, Assigns Stable Outlook
...wngrades to three main factors: expectations that the bank would experience asset quality pressure in 2011, arising from its operations in countries experiencing political unrest; the latent credit risk in the Kuwaiti banking system; and expectation that the imminent government spending increases will li...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Cost Estimate For BP’s Oman Tight Gas Fields Rises 50% To $15Bn
...livered its first gas in March. Seven wells have been successfully tested, and BP Oman is planning to add two additional wells by the end of 2011. EWT allows assessment of the long term production performance – particularly important in tight gas fields to understand well decline behavior and the nu...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
DEWA Doubles Size Of Planned Coal-Fired Power Plant
...rlier forecast: “I expect 5% of growth [in 2011], but then it could be 7%. The peak demand (growth) last year we thought would be 6% and then it came to 9.6%.” Dubai expects to have nearly 10gw of power production capacity by the end of 2011. In May DEWA selected McKinsey & Company as a consultant fo...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Political Comment (27 June 2011)
...Middle East Economic Survey VOL. LIV No 26 27-Jun-2011 Political Comment (27 June 2011) Syrian President Bashar al-Asad has again promised reforms, but has failed to appease his domestic and international critics. The head of the Arab League thinks it is time for a cease-fire in...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011