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  1. WWF Report Calls For Low-Carbon Re-Industrialization By 2014

    ...Middle East Economic Survey VOL. LII No 43 26-Oct-2009 WWF Report Calls For Low-Carbon Re-Industrialization By 2014 The World Wildlife Fund (WWF) has called for a global shift to a low-carbon economy by 2014, otherwise the world risks climate change at a runaway pace. In a re...

    Volume: 52
    Issue: 43
    Published at Mon, 26 Oct 2009

  2. Sonatrach Shortlists Firms For Tiaret And Algiers Refinery Projects

    ...ing on-stream in 2011, but which now looks unlikely to be completed before 2014 at the earliest. Sonatrach’s head of downstream 'Abd al-Hafid Feghouli told MEES in November last year that the company expected to see the project’s total costs reduced from $6bn to $5bn, due to the fall in co...

    Volume: 52
    Issue: 43
    Published at Mon, 26 Oct 2009

  3. GCC Refining Capacity Will Continue To Increase In The Medium Term, Says Moody’s

    ...rtially mitigated by the fact that many of these projects are likely to become operational after 2014, which is when, according to IEA forecasts, oil demand will have returned to 2008 levels. GCC Expected Additional Refining Capacity By 2015 Source: Moody’s estimates, BP, OPEC. Stable Outlook Fo...

    Volume: 52
    Issue: 43
    Published at Mon, 26 Oct 2009

  4. IHS CERA Says OECD Oil Demand Has Peaked

    ...w we are seeing the tempering of the last significant driver of oil demand in developed countries – petroleum for transportation.” Emerging markets will drive future world oil demand, according to IHS CERA. It forecasts that oil demand will increase from 83.8mn b/d in 2009 to 89.1mn b/d in 2014...

    Volume: 52
    Issue: 42
    Published at Mon, 19 Oct 2009

  5. Laffan Condensate Refinery Starts Operations

    ...e plant foundation stone was laid in April 2006 (MEES, 24 April 2006). The refinery, which cost around $800mn to construct, was originally scheduled for start-up in the fourth quarter of 2008, but before it was even finished Qatar has said it planned to double its capacity by 2014 (MEES, 10 Se...

    Volume: 52
    Issue: 40
    Published at Mon, 05 Oct 2009

  6. Delek And Avner Oil Look To Cyprus Waters After Tamar Gas Discovery

    ...2012. But due to its location, in depths of more than 15,000ft in 5,500ft (1,677ms) of water, some observers believe that 2014-15 is the most likely start-up date (MEES, 22 June). Noble said a contract has been awarded to shoot 1,200 square miles of 3D seismic on its acreage in Israel in 2H09, an...

    Volume: 52
    Issue: 39
    Published at Mon, 28 Sep 2009

  7. Banks Upbeat On Project Finance As Mega-Deals Target Year-End Close

    ...e refinery is state-of the-art and when it comes on line at the end of 2013, or early 2014, it will be the Middle East’s most advanced. While not quite at the level of the Reliance Jamnagar refinery in India, which was commissioned at the end of 2008, Jubail is “top drawer stuff,” commented Pr...

    Volume: 52
    Issue: 38
    Published at Mon, 21 Sep 2009

  8. Basri Proposes New Approach To Budget Planning In Iraq

    ...provement of government services (health and housing) and for raising productivity in promising projects by adopting the PPP model Dr Basri projects a gradual increase in oil production/exports and revenues during the five-year period, with a rise in oil revenue to $94.5bn in 2014 from $36.0bn in 2009. No...

    Volume: 52
    Issue: 37
    Published at Mon, 14 Sep 2009

  9. ERC Targets Early 2010 Financial Close For Musturud Refinery Upgrade

    ...rtial exemptions will be granted to refineries which supply the local market. While the project will go ahead, the tax issue has yet to be fully clarified, MEES further understands. ERC suggests that the refinery upgrade/expansion will be completed by 2014 (MEES, 24 August). It was originally due on...

    Volume: 52
    Issue: 37
    Published at Mon, 14 Sep 2009

  10. Dubai Metro, Gulf’s First Train Network, Starts Up

    ...d first class carriages, and a wireless internet service on every train. The whole network will be completed in 2014 and plans call for it to span 318km eventually. The Dubai authorities anticipate 200mn passenger journeys per year. The railway took four years to build and cost $7.64bn – double th...

    Volume: 52
    Issue: 37
    Published at Mon, 14 Sep 2009

  11. North Africa Forges Ahead With Refinery Upgrades, Expansions More Elusive

    ...amant that the project will be completed by the second quarter of 2014. However, he concedes that the global financial crisis, which caused difficulties in securing financing and procuring materials, has delayed the project and driven up the costs. It was originally due on stream in 2011 at an estimated co...

    Volume: 52
    Issue: 34
    Published at Mon, 24 Aug 2009

  12. QP Sees Oil And Gas Output At 5Mn BOED By 2014

    ...Middle East Economic Survey VOL. LII No 34 24-Aug-2009 QATAR QP Sees Oil And Gas Output At 5Mn BOED By 2014 Qatar Petroleum’s Director of Oil and Gas Projects, Sa'd al-Ka'bi, said the country’s total oil and gas capacity could reach 5mn b/d of oil equivalent (boed) by 2014 wh...

    Volume: 52
    Issue: 34
    Published at Mon, 24 Aug 2009

  13. Banks Lining Up For Riyadh IPP, After Rabigh IPP Closes Financing

    ...oposal to developers in June after 10 consortia had pre-qualified. The Riyadh plant is expected to start up in April 2013 and reach full capacity in April 2014. As a gas-fired operation, and located near the Kingdom’s expanding capital city, the plant is expected to attract strong interest from both de...

    Volume: 52
    Issue: 33
    Published at Mon, 17 Aug 2009

  14. BP Plans $2Bn Investment In Algeria By 2014

    ...Middle East Economic Survey VOL. LII No 32 10-Aug-2009 ALGERIA BP Plans $2Bn Investment In Algeria By 2014 BP is planning to spend $2bn over the next five years in Algeria, where it is one of the largest international gas producers and has exploration acreage that has al...

    Volume: 52
    Issue: 32
    Published at Mon, 10 Aug 2009

  15. Egypt’s Actual 2008-09 Budget Deficit Unchanged At 6.9% Of GDP

    ...d Suez Canal transit dues. The government’s target is to lower the budget/GDP deficit to 3% in 2014-15, down from 9.6% in 2004-05. Total revenue in 2008-09 rose by 24% to reach E£274.8bn ($49.6bn), while total expenditure jumped by 21.7% to E£343.7bn ($62.0bn), resulting in an actual budget de...

    Volume: 52
    Issue: 32
    Published at Mon, 10 Aug 2009

  16. EU Balkan States Considering Arab LNG Imports Via Greece

    ...ansmission system operator DESFA, Panayiotis Kanellopoulos told MEES on the sidelines of the conference that “Revythousa’s capacity is expanding. Planning has already commenced to increase its existing storage capacity by almost 70% by 2014.” Mr Hatzidakis had told the conference that “Greece is also pl...

    Volume: 52
    Issue: 31
    Published at Mon, 03 Aug 2009

  17. Audax Announces Reserves Evaluation, Plans Appraisal Well At Offshore Dougga Field

    ...oject net present value at 10% discount rate for the most likely resource is $1.134bn, assuming product prices of $80/B of condensate and $9.9/mn cu ft of gas in 2014,” Audax said in a statement on 27 July. The company plans to send an invitation to potential bidders shortly, for the drilling of an ex...

    Volume: 52
    Issue: 31
    Published at Mon, 03 Aug 2009

  18. Faltering Upstream Progress Undermines Libyan Output Targets

    ...ploitation of new ones, is the Waha oil company, whose Chairman Bashir El-Ashahab said in an interview earlier this month that it was targeting 650,000 b/d by 2014. The company is currently producing 370,000 b/d, according to Waha sources, and the first of four major development projects, Faregh Phase 2, is...

    Volume: 52
    Issue: 30
    Published at Mon, 27 Jul 2009

  19. RasGas Sees Largest Ever Order Book For Middle East Bond

    ...anned total of $2.23bn, divided into a series of three with bullet maturities – the E series is worth $500mn, maturing in 2012; the F series worth $1.115bn, maturing in 2014; and G series of $615mn, maturing in 2019 (MEES, 13 July). Pricing was attractive, with the three-year issue at treasuries pl...

    Volume: 52
    Issue: 30
    Published at Mon, 27 Jul 2009

  20. Saudis Focus Efforts On Economic City Drive

    ...iversity of Science and Technology (KAUST), currently under construction and which is being touted as a ‘Harvard on the Red Sea’. State-owned Saudi Aramco and its partner Japan’s Sumitomo are proceeding with plans for a further multi-billion dollar expansion at PETRORabigh, which should be complete by 2014...

    Volume: 52
    Issue: 30
    Published at Mon, 27 Jul 2009