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Saudi Fransi Finances Steel Project
...mpany has a paid-up capital of SR450mn ($120mn) and the project will attract total investments of some SR1.3bn ($346.7mn). Construction of the first phase of the project will start soon and production of some 1.5mn tons of various types of steel is expected in 2011. The steel plant will be built in th...
Volume: 52Issue: 06Published at Mon, 09 Feb 2009 -
Delay Pays Dividends For Abu Dhabi’s SAS Development
...fshore Umm al-Lulu field, operated by ADMA-OPCO, or an expansion of around 50,000 b/d at ADCO’s Bab field, where capacity is currently around 320,000 b/d. The ExxonMobil-led project to expand capacity at the offshore Upper Zakum field from 550,000 b/d in 2006 to 750,000 b/d by 2011 has hit hurdles am...
Volume: 52Issue: 05Published at Mon, 02 Feb 2009 -
ABB Wins $95Mn Order For Saudi Power Substations
...e 2008 and the substations are scheduled for completion in 2011. ABB will be also responsible for the design, supply, installation, and commissioning of the substations (132 kV and 110 kV)....
Volume: 52Issue: 05Published at Mon, 02 Feb 2009 -
Saudi Arabia Further Revises Project Schedule
...nifa project has been more substantially delayed, with contractors asked to go away and come back with better offers. A 2011 start-up for this is now out of the question. Similarily Saudi Aramco has held up the award of some of the construction contracts for the 1.5bn cfd Karan offshore gas development in...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Construction Of Citadel’s Egypt Refinery Delayed By Financial Crisis
...ecifications. Previously, this residue had been sold as heavy fuel oil for use in Egypt’s power stations, but these have been converted to gas. With capacity to produce 2.2mn tons/year of diesel and 700,000 t/y of other products, the refinery was originally expected to start up in 2011 (MEES, 29 October 20...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Bahrain, Saudi Arabia Plan To Build Oil Pipeline By 2011
...Middle East Economic Survey VOL. LII No 4 26-Jan-2009 Bahrain Bahrain, Saudi Arabia Plan To Build Oil Pipeline By 2011 Long-envisaged plans to build a new oil pipeline between Saudi Arabia and Bahrain are progressing. The engineering design is expected to be completed by the en...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Sudan Peace Deal Increasingly At Risk, Report Warns
...t been resolved. As a consequence of these failures, the referendum that is due to take place in 2011 is becoming the CPA’s centerpiece, and all but a few expect that the south will vote for secession, which was only regarded as a last resort when the agreement was drafted. Unequal De...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Algeria Facing Gas Supply Squeeze As Export Projects Unfold
...rgets. The LNG projects that Dr Feghouli was referring to are the 4.5mn tons/year plant at Skikda, being built by US firm KBR, and a 4.7mn t/y plant at Arzew, for which a joint venture between Italy’s Snamprogetti and Japan’s Chiyoda won the contract last July. They are due for completion in November 2011...
Volume: 52Issue: 02Published at Mon, 12 Jan 2009 -
Jadwa Says Financial Crisis Has Shifted Focus Of Saudi Economic Policy
...eir funding requirements without borrowing.” For example, state oil firm Saudi Aramco does not need to borrow to finance its investment plans, says the report, although it is working on five capacity expansion projects to 2011 that are budgeted at $60bn. Jadwa Estimates For Key Saudi Arabian Ec...
Volume: 52Issue: 01Published at Mon, 05 Jan 2009 -
Bulgaria In Negotiations To Buy Egyptian Gas From 2011
...Middle East Economic Survey VOL. LI No 51-52 22/29-Dec-2008 EGYPT Bulgaria In Negotiations To Buy Egyptian Gas From 2011 Bulgaria’s Minister of Economy and Energy Petar Dimitrov was quoted by local media on 4 December as saying that Bulgaria was negotiating the supply of up to...
Volume: 51Issue: 51Published at Mon, 22 Dec 2008 -
IEA Medium-Term Outlook Trimmed To Reflect Economic Slowdown
...els and other products will rise, but the former will post a faster pace of growth (+3.1% per year) than the latter (+2.8% per year).” IEA World Oil Supply And Demand Outlook 2008-13 (Mn B/D) 2008 2009 2010 2011 2012 20...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Putin Increases Pressure On Ukraine To Repay Gas Debt
...liveries if the debt dispute is not settled before the end of December. According to the October agreement, Russia would charge Ukraine less than the European-level gas price until 1 January 2011, with the two parties agreeing on a steady price for a two-year transition period in 2009-10. Ukraine says th...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Twenty-One Companies Pre-Qualified For Area 47, As Verenex Mulls Its Options
...early November, $800-850mn would need to be spent on bringing the oil and gas discoveries at the ‘A’ field on-stream by 2011, at initial rates of 50,000 b/d and 50mn cfd respectively. Verenex and Medco would shoulder 25% of the costs each, with NOC funding the rest. Under the EPSA-4 contract, Ve...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Iran’s Refining Expansion On Track To Meet Gasoline Deficit, Says FACTS
...adan. These three projects alone will produce enough gasoline to eliminate all imports in the short term. The Abadan upgrade will be completed in 2010, Arak in 2011-12 and Isfahan in 2012-13.” There will be crude distillation unit expansions at the Lavan, Arak, Tabriz and Isfahan refineries, which wi...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
UAE Liquidity Squeeze Raises Growth Prospect Questions, Says S&P
...2011 at almost $40bn (MEES, 1 December). The average refinancing requirement during this period represents a substantial 8% of the UAE’s GDP. This is equivalent to 10% of total bank loans, on average. While this is a significant magnitude, S&P believes refinancing risks will remain manageable de...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
Yemen Considering Ways To Boost Exploration And Offset Declining Oil Production From Mature Fields
...udying the possibility of a pilot project using Enhanced Oil Recovery (EOR) technology next year. However, Nexen’s PSA expires in 2011 and, although the company is interested in extending the agreement, the government has not indicated yet whether it is ready to do so. Hence the likelihood of the de...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Verenex Says Corporate Sale Of Libyan Assets Is ‘One Strategic Option’
...w weeks after the company submitted a final appraisal report to NOC for the first phase of the development of those discoveries (MEES, 17 November). The development plan envisages oil production of around 50,000 b/d and gas production of 50mn cfd, starting in 2011. But it is expected to cost ar...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Oman Signs EPSA With Occidental And Mubadala
...mmence immediately and that production from the area in question is expected to begin in 2010 and reach plateau of about 165mn cfd (27,500 barrels of oil equivalent per day – boed) by the end of 2011. Occidental’s net share of production at plateau is expected to be approximately 10,000 boed, with Mu...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Political Comment (1 December 2008)
...nflicting). So while the way is now clear for an American withdrawal from Iraq by the end of 2011 in accordance with the SOFA, it is now theoretically possible that this could take place by the middle of 2011 if the referendum gives the thumbs down, since the agreement specifies that it “can be terminated by...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Condensate’s Growing Impact On Petrochemical And Transport Fuel Markets
...bstantially in expanding condensate processing capacity through 2011. While Thai imports remained steady, this market, together with China, will import increasing condensate volumes through 2016. Thailand has joined the ranks of major condensate importers and this market’s expanding condensate needs wi...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008