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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: 52Issue: 38Published at Mon, 21 Sep 2009 -
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: 52Issue: 37Published at Mon, 14 Sep 2009 -
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: 52Issue: 37Published at Mon, 14 Sep 2009 -
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: 52Issue: 37Published at Mon, 14 Sep 2009 -
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: 52Issue: 34Published at Mon, 24 Aug 2009 -
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: 52Issue: 34Published at Mon, 24 Aug 2009 -
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: 52Issue: 33Published at Mon, 17 Aug 2009 -
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: 52Issue: 32Published at Mon, 10 Aug 2009 -
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: 52Issue: 32Published at Mon, 10 Aug 2009 -
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: 52Issue: 31Published at Mon, 03 Aug 2009 -
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: 52Issue: 31Published at Mon, 03 Aug 2009 -
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: 52Issue: 30Published at Mon, 27 Jul 2009 -
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: 52Issue: 30Published at Mon, 27 Jul 2009 -
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: 52Issue: 30Published at Mon, 27 Jul 2009 -
BG Row Threatens Gulf Keystone’s Planned Sale Of Hassi Ba Hamou Stake
...r its interest in the block. The commercialization of gas discovered there is not expected until 2014....
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
When The Dust Settles Iraq’s Oil Will Flow
...ke it. Remember that the Energy Information Administration’s (EIA’s) best estimate for world consumption is that this will rise by only 7mn b/d by 2014. The strategy of technical support agreements, such as those under negotiation with the oil majors in 2008, should be revisited. These co...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Nabucco Partners Sign Intergovernmental Agreement
...ll as Turkey apparently softening its stance on Nabucco, the 31 bcm/year pipeline project that is scheduled to start in 2014 received a significant boost with the surprise offer by Iraq’s Prime Minister Nuri al-Maliki at the signing ceremony to supply it with 15 bcm/year of gas. However, it re...
Volume: 52Issue: 29Published at Mon, 20 Jul 2009 -
Noble Says Tamar And Dalit Could Supply Two Decades Of Projected Gas Needs
...oduction by 2012, although some observers say 2014-15 is more realistic. The latest reserves estimate for Tamar compares with a previous estimate of 5 tcf, and is double the original reserves estimate (MEES, 16 February). Despite the size of the discovery, Israel’s Natural Gas Authority is moving ahead wi...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
RasGas Launching Bond Issue To Complete $10Bn Funding Program
...total $2.23bn, although could be subject to change, and is divided into a series of three with bullet maturities – the E series is worth $500mn, maturing in 2012; the F series worth $1.115mn, maturing in 2014; and G series of $615mn, maturing in 2019. The bonds, along with an ExxonMobil loan of...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014
...Middle East Economic Survey VOL. LII No 27 6-Jul-2009 IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014 The International Energy Agency (IEA) has forecast global oil demand as growing by 0.6% or 540,000 b/d per year on average between 2008 and 2014, fr...
Volume: 52Issue: 27Published at Mon, 06 Jul 2009