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Kuwait’s Economy Recovers, But Further Reforms Needed, Says IMF
...partly cover the actuarial deficit of the Public Pension Fund. In 2008-09, KD 5.5bn were transferred. KD 1.1bn are budgeted for each year from 2010-11 to 2014-15. 4 Excludes investment income and pension recapitalization, and after transfers for FGF. 5 Excludes debt of Kuwait's SWF re...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
EMAL Gets Approval For $4.5bn Expansion Project
...nually by the end of 2014, the company said on 24 July. The EMAL Phase II project will upgrade technology at its first-phase facility, which will boost production capacity by 50,000 tons/year to 800,000 t/y by the end of 2012. This will boost EMAL’s total production capacity to around 1.3mn tons by the en...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
ADNOC To Boost Supplies To CNPC By 2014
...SUPPLY/DEMAND/UAE ADNOC To Boost Supplies To CNPC By 2014 Abu Dhabi National Oil Company (ADNOC) on 13 July signed a 20-year agreement with China National Petroleum Corporation (CNPC) to increase crude oil shipments to 200,000 b/d by 2014. ADNOC shipments to CNPC currently average le...
Volume: 54Issue: 30Published at Mon, 25 Jul 2011 -
Power Failures Hit Kuwait
...neration capacity to 16gw by 2014-15, to 17-18gw by 2016 and to 27-30gw by 2030. Kuwait’s power demand is growing at approximately 7-10% per year. But Kuwait is short of gas and is importing LNG. It is studying with Japanese conglomerate Toyota Tsusho a proposal to build a $650mn, 1.25mw capacity In...
Volume: 54Issue: 30Published at Mon, 25 Jul 2011 -
Fluor Clinches Dow/Saudi Aramco Jubail II Utilities Contract
...d the 1.3bn cfd Hasbah field – both due on stream in 2014. ...
Volume: 54Issue: 30Published at Mon, 25 Jul 2011 -
Iraqi Gas And Power Emerges As Critical Sector
...pital investment to kick-start the economy. Capital expenditure will grow to 40% of the budget in 2014 and 50% the following year, compared to 2011’s 31%, Mr Abadi predicts. However, any economic development will not work without electricity, the lack of which currently costs the Iraqi economy an es...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iraq Needs To Triple Power Capacity To Meet Short Term Demand Growth
...soil then dry gas from Badra and Mansuria fields Taji 4x40 2011 40mn cfd Dry gas from NGC Akkaz 2x125 4x30 2014 105mn cfd Dry gas from Akkaz field Ba...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Consortium Signs Agreement To Build Sur, Oman’s Largest IPP
...hwan Engineering Group company) signed an agreement on 13 July with Oman Power and Water Procurement Company (OPWP) to build the Sur independent power project (IPP). At 2.0gw when fully commissioned in 2014, it will be the sultanate’s largest IPP. The $1.5bn project attracted strong interest and in Ju...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Qatar’s $5Bn Barzan Project Financing Progresses
...pend on how competitive it is with the other sources of funding being tapped (MEES, 25 April). Barzan was originally planned for 2012 start‐up, but that date was put back to 2014. Barzan is a two‐train project and will initially produce 1.5bn cfd, although it can be expanded if needed. When in...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
UAE Hopes For $100Bn In Sustainable Energy Investment
...at it will invest $290mn via the DB Masdar Clean Tech Fund – founded with Deutsche Bank - in green projects around the world by 2014. It did not give details of specific projects, but said it had invested the fund’s first $60mn in China. “We are making a second investment this week. It could be be...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Iran Set To Be Net Gas Exporter, Analysts Doubt Double Output Claim
...uble.” Another Iranian analyst, Mehdi Varzi, president of Varzi Energy consultancy, comments: “The gas forecast looks too high. Gas production is increasing, but an increase of 20-30% by 2014 is more realistic.” The West is tightening the economic noose round Iran. Extensive sanctions stop Iranian ai...
Volume: 54Issue: 28Published at Mon, 11 Jul 2011 -
Azerbaijan’s Socar To Acquire Bigger Stake In Petkim Refinery Joint Venture
...at carries Azeri Light crude from the Caspian Sea for export. The refinery in Izmir Aliaga is expected to be supplied with Azeri crude shipped from the Ceyhan terminal. The new refinery is estimated to cost $4bn and come into operation in 2014. It will be located next to Petkim’s existing pe...
Volume: 54Issue: 28Published at Mon, 11 Jul 2011 -
Kuwait’s SPC Wants 530,000 B/D Al-Zour Option, Parliament Starts Shell Probe
...hrain, scheduled for completion in 2014. It will avoid populated areas in both countries. If Bapco chooses the 450,000 b/d refinery expansion option, the pipeline’s capacity can be increased above 350,000 b/d bydrag reducing agent (DRA) injection. The main reasons for the new pipeline are to improve th...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
ADNOC’s New Chief To Focus On UAE Fuel Crises
...erational by its latest deadline of 2014. One of the reasons for the delays is the cumbersome decision making process of the conglomerates that own the field concessions. ADNOC has not yet announced who will replace Mr Suwaidi as head of the exploration and production division. The choice of which ex...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Qatargas Seals 20-Year LNG Supply Deal With Argentina’s ENARSA
...e delivery of 5mn tons/year of LNG. This would be delivered to ENARSA’s Southern Cone LNG hub – an offshore LNG floating storage and regasification unit – for a period of 20 years. This deal, starting in 2014, is Qatargas’s first long term supply agreement with a South American country, and is ex...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
A Realistic Outlook For Iraq's Oil Production In 2030
...5mn b/d in 2015, 5.5mn b/d in 2017 and 7mn b/d till 2020. 7 Based on 2011 projections of Merrill Lynch, Iraq will have the capacity to produce 4.4mn b/d in 2015. 8 Based on the Iraqi government’s five-year development plan, which included plans for all economic sectors till 2014...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Kuwait Discovers More Burgan Reservoirs, Plans Water Injection
...ra structure – one of the fastest-depleting reservoirs, MEES learns. The project needs collection, treatment and injection facilities by 2014 for as much as 1mn b/d of water. When Burgan first started producing nearly 70 years ago some individual wells were producing 15,000 b/d. “Today additional we...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
IEA Medium Term Forecast Sees Demand Growing By 1.2Mn B/D Annually For 2010-16
...versify away from ‘traditional’ OECD markets into lucrative Asian markets. The Middle East will remain the key supplier, accounting for 47% of global exports in 2016. IEA World Oil Supply And Demand Outlook 2010-16 (Mn B/D) 2010 2011 2012 2013 2014...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Kuwaiti Real GDP Growth Expected To Hit 4.7% In 2011, NBK Says
...ojects (MEES, 27 September 2010). The ambitious KD31bn ($112.8bn) plan – ending in 2014 – calls for spending an amount close to KD5bn ($18.2bn) on infrastructure in the 2010-11 fiscal year. However, the government expects actual spending to only be around the KD2.5bn ($9.09bn) mark, or 50% of the to...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Saudi Authorities Set To Overhaul Private Sector Employment Rules, BSF Says
...ployment quotas. Ultimately, the government’s aim is to create of 1.12mn new jobs for Saudi citizens by 2014. In its latest Saudi Arabia Economics report, BSF warns: “the initial shock of Nitaqat, if enforced with vigor, could lead numerous smaller businesses to shut down, shake already feeble fo...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011