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ESAI Charts Return Of Libyan Crude To Market
...itial ramp up of “easy to return” volumes that will boost production to near 300,000 b/d by the end of 2011. There will be another significant increase by late 2012, and output should cross the 1mn b/d mark in early 2013, ESAI said, adding that production should return to 1.5mn b/d by the end of 20...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Sohar Aluminium To Assist OPWP To Meet Peak Power Demand
...har Aluminium during May to July 2010 was limited to 138,239mwh as the grid demand reduced substantially following Typhoon Phet,” it added. However, during 2011 the total power exported to the grid for the peak months of May to August was 457,602mwh. Average demand for electricity in Oman is pr...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Uncertainty Slowing Economic Growth In Palestine, Says World Bank
...a report published ahead of a meeting of international donors scheduled to be held on 18 September. “The IMF has revised the projected real GDP growth rate for 2011 from 9% down to 7%,” noted the report. No significant easing of Israeli restrictions has taken place in 2011, so that the Pa...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Syrian Crude Production Unaffected By EU Sanctions, Says IEA
...oducts if they originate in or have been exported from Syria (MEES, 12 September). The IEA calculated that Syria produced 332,000 b/d of crude during August. According to the agency, Syria exported an average of 39,000 b/d of Syrian Light crude during 2010 and 25,000 b/d during the first half of 2011...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 Bahrain Bahrain’s Economy Sluggish In 2Q11 As Political Turmoil Weighs Bahrain’s economy saw its real GDP fall by 1.4% in the first three months of 2011 relative to the previous quarter, representing the Gulf state’s fi...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Egypt Focuses On Local Market Funding, Will Sell $20Bn Of Treasury Bills, Bonds
...nfirmed that it has started implementing a E£700 minimum wage for all government workers, and it plans to cover all employees by the end of 2011. ...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kuwait’s Real GDP Will Grow By 5.6% In 2011-12, Says QNB Capital
...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 KUWAIT Kuwait’s Real GDP Will Grow By 5.6% In 2011-12, Says QNB Capital Kuwait’s real GDP is forecast to grow by 5.6% in 2011-12, as work gets underway on the new development plan and oil production rises, said QNB Ca...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Oman And Lebanon Announce Plans To Boost Government Spending
...dget, its Finance Minister Mohammed Safadi revealed. “The budget will increase by 15% roughly. Our deficit will not be more than $3bn at best. So we will be borrowing,” he said. Lebanon’s 2011 draft budget, submitted in September, put government spending on infrastructure at around $13.1bn – re...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
BCG Estimates Middle East Assets Growth At 10% In 2010
...ming years, professionally managed assets are estimated to grow at 9-10%.Regional investments will continue to be mostly direct. Some product trends observed before the crisis have continued through 2009 and 2010 and into 2011. One key ongoing trend is the faster growth of more risk-averse, pa...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
EU Bans Imports Of Syrian Crude
...verse effect on oil markets. Official figures put Syrian crude oil production at 387,250 b/d during the first half of 2011, equivalent to about 0.4% of global oil supply, according to data issued by Bank of America Merrill Lynch. Most of Syria’s crude production is refined for local use and some pe...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kazakhstan To Double Oil Fund By 2015; Azeri Fund Expands By 36%
...lue of $8bn, equivalent to almost one-quarter of Kazakhstan’s annual budget, estimated this year at $31.6bn. Meanwhile Sofaz, Azerbaijan’s national oil fund, expects an annual increase of around 36% in its assets in 2011, according to a statement released on 26 August by Sofaz Executive Director Sh...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Egypt Drafts Plan To Reduce Energy Subsidies
...rgest component of total subsidies of E£135bn ($22.7bn) set aside in the country’s 2011-12 budget, Mr Biblawi noted. However the budget approved earlier this year had allocated a higher figure of E£157.8bn ($26.5bn - MEES, 11 July). “We are in an unhealthy situation, and there are complications in th...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Pedec Says North Azadegan On Schedule, Fears Grow Over Foreign-Led Projects
...PC that it will cancel a contract for the development of South Pars Phase 11, signed in 2009, if CNPC does not fulfill the terms of the agreement, which called for the initiation of the project’s development within the first half of 2011 (MEES, 27 June). Mr Sadouni said that CNPC has already in...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Jordanian Cabinet Approves $823Mn Supplementary Budget
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 Jordan Jordanian Cabinet Approves $823Mn Supplementary Budget The Jordanian government on 23 August approved a supplementary budget of JD584mn ($823mn) for 2011 to cover extra spending on food and energy subsidies. Jo...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Saudi Non-Oil GDP Growth Estimated At 5.5% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 SAUDI ARABIA Saudi Non-Oil GDP Growth Estimated At 5.5% In 2011, Says Samba Saudi non-oil GDP growth in 2011 is estimated at 5.5%, although the pace of private activity—both investment and consumption—is expected to slow so...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
RAK Petroleum Updates On Operations, Reports 2Q11 Profits
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 UAE RAK Petroleum Updates On Operations, Reports 2Q11 Profits UAE-based oil and gas exploration and production company RAK Petroleum on 29 August reported its financial results for the second quarter of 2011, announcing al...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
UAE Real GDP Growth Rate Expected To Exceed 4% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 36 5-Sep-2011 UAE UAE Real GDP Growth Rate Expected To Exceed 4% In 2011, Says Samba Real GDP growth in the UAE is expected to exceed 4% this year, bolstered by healthy public investment, rising hydrocarbons production and exports and a po...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
KMG EP Acquires Four Exploration Licenses In Kazakhstan
...the incurred expenses of the national company KMG on financing the Teresken block work program prior to the closing date of the transaction in 2011.” The statement said the four exploration licenses cover the Temir, Teresken and Karaton-Sarkamys blocks and the territory adjacent to the Uzen an...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Political Unrest Affecting Egypt’s Economic Growth, Says NBK
...Middle East Economic Survey VOL. LIV No 35 29-Aug-2011 EGYPT Political Unrest Affecting Egypt’s Economic Growth, Says NBK Egypt’s real economic growth is expected to have slowed noticeably in the first half of 2011 and unemployment to have risen thanks to the recent unrest an...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Delek Drilling And Avner Report Higher 2Q Revenues From Yam Thetis Block
...ported a decline in profits, with Delek Drilling reporting $11.1mn for the second quarter of 2011 compared to $14.9mn for the same period in 2010, while Avner’s profits fell to $10.5mn from $14.9mn during the respective periods. Both companies attributed the decline in earnings to a rise in costs for th...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011