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Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 18 2-May-2011 Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 May Apr Mar Feb Ja...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
Botas Looking To Increase Gas Allocation From Shah Deniz 2 By 4 BCM/Y
...pply agreements of June 2010 (MEES, 14 June 2010). Mr Ozgul said that the proposed increase in Shah Deniz 2 supply will be consolidated in the form of a gas purchasing agreement to be signed between Azeri state firm Socar and Botas by 30 June 2011 “at the latest.” He added that “we expect that we wi...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
China Extends Strategic Influence Over Turkmen Gas
...crease its projected gas imports via the Central Asia to China gas pipeline by 2.7 bcm/y by the end of 2011 compared to an initial estimate of 15 bcm/y. In 2010 the pipeline transported 6 bcm/y to China’s Xinjiang province and around 3.2 bcm/y during the first quarter of 2011. CNPC now plans to expand it...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
BP And Socar Discuss Exploration Of Shafag-Asiman Block
...reement (PSA), in a meeting in Baku on 27 April. Operator BP and Socar signed the Shafag-Asiman PSA in October 2010, with both companies holding 50% equity. The PSA is valid for 30 years, but has yet to be ratified by the Azeri parliament. It calls for the beginning of exploration work within 2011. The ex...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
IMF Sees Regional Uprisings Providing Long Term Opportunities, Near Term Pressures
...e foundations for a socially inclusive and more dynamic economic growth model. In the near term however, countries face multiple pressures stemming from higher commodity prices and disruptions to economic activity, the IMF said in its April 2011 Regional Economic Outlook for the Middle East, No...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
Tough First Quarter For Saudi Private Sector, Says Jadwa
...Middle East Economic Survey VOL. LIV No 18 2-May-2011 SAUDI ARABIA Tough First Quarter For Saudi Private Sector, Says Jadwa The first quarter was a tough one for the private sector in Saudi Arabia, according to the April 2011 Monthly Bulletin published by Jadwa Investment. In to...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
Topaz Secures Two-Vessel Offshore Support Contract In Nigeria
...geria for the duration of 2011, the company announced on 26 April. Topaz has mobilized two anchor handling tug supply vessels, Topaz Johor and Topaz Jurong, for an eight-month contract to support operations in the Atlas, Mira and Britannia fields offshore Nigeria, on behalf of AXXIS Petroconsultants Lt...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
Political Comment (2 May 2011)
...Middle East Economic Survey VOL. LIV No 18 2-May-2011 Political Comment (2 May 2011) In Syria the authorities have decided to respond to protests with repression rather than reform. The two main Palestinian parties, secular Fatah and Islamist Hamas, have sprung a surprise by re...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
WEF’s Repowering Transport Project – Review And Implications
...ICORP’s Economic Commentary dated May 2011. The author wishes to state that there is no conflict of interest arising from this review and that the opinions expressed reflect his personal views only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com On 4 April the World Economic Fo...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
Gulf Producers Tackling ‘Difficult Gas’ Challenges
...eld development is due to finish in the third quarter of 2011, then a 12-month FEED program starts, allowing the final investment decision to be taken at the end of 2012. By then BP will know the amount of water and NGLs that need handling. Technically it is a tough job – as the reservoirs are in ol...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
WTI Price Moves Back Above $110/B As US Inventories Slide, Market Seen Out Of Balance
...at current prices are not sustainable and called for OPEC to be prepared to increase output in June when a rise in demand is anticipated. He said that if crude continues at a price of more than $100/B for the remainder of 2011, it is very likely that demand destruction would ensue, similar to th...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
CGES Says High Crude Prices Risk Destroying Demand
...lance (Mn B/D) 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 2009 2010 2011 World Oil Demand 88.7 89.5 88.7 88.4 89.7 89.9 84.9 87.9 89...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
China’s Crude Oil Imports Rose 8.6% In March
...Middle East Economic Survey VOL. LIV No 17 25-Apr-2011 China’s Crude Oil Imports Rose 8.6% In March China’s crude oil imports totaled 21.67mn tons during March 2011, according to data released by China’s General Administration for Customs. The March volume is a rise of 8.6% over Fe...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Demand For Bahrain Sovereign Debt Remains Strong, Says CBB
...Middle East Economic Survey VOL. LIV No 17 25-Apr-2011 Bahrain Demand For Bahrain Sovereign Debt Remains Strong, Says CBB Demand for Bahrain sovereign debt remained strong during the first quarter of 2011, the Central Bank of Bahrain (CBB) announced on 19 April. The domestic is...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Socar Offers BP Option To Explore For Further Gas In Shah Deniz And ACG Fields
...peline project for exporting Shah Deniz 2 gas (MEES, 4 April). Mr Usifzade also told reporters that Socar was looking to sign an agreement with BP by the end of 2011 for the production of gas from reservoirs below those already being produced in the ACG complex. BP is operator and 34.14% interest ho...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Moody’s Sees Negative Outlook For Egyptian Banking System
...quidity is by no means assured, especially if Egypt does not elect an effective government in a timely manner, it said. Moody’s expects profitability to come under pressure in 2011-12, driven by increasing loan loss provisioning due to the uncertain environment and also by higher expenses that could re...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
NIOC Raises Iran Oil Reserves Estimate To 155Bn Barrels
...tput was 20,000 b/d per well compared with 26,000 b/d before the 1979 Iranian revolution. Mr Qalebani said that new methods of enhanced oil recovery were being deployed under Iran’s fifth five-year development plan [2011-2015] to boost oil recovery rates. NIORDC Announces Gasoline and Gasoil Pr...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Iraqi Inflation Set To Remain In Single Digits In 2011, CBI Says
...Middle East Economic Survey VOL. LIV No 17 25-Apr-2011 IRAQ Iraqi Inflation Set To Remain In Single Digits In 2011, CBI Says Helped by a nation-wide food rationing program that has absorbed a portion of the increases in global food prices, Iraq’s annual inflation rate is fo...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Oman Allocates $2.6Bn In Social Spending To Quell Unrest
...Middle East Economic Survey VOL. LIV No 17 25-Apr-2011 oman Oman Allocates $2.6Bn In Social Spending To Quell Unrest The Omani government on 17 April unveiled revised numbers in its 2011 state budget to incorporate the promised social expenditure of an additional OR1mn ($2.6bn) in...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011 -
Cyprus Warns Investors Against TPAO East Mediterranean Block Offer
...fshore blocks and has awarded an exploration license to Noble Energy of Houston for Block 12, which lies along the maritime delimitation line with Israel. Noble intends to drill in Block 12 before the end of 2011. Furthermore, Noble’s partner in Israel, the Delek Group, has approached Nicosia with a pr...
Volume: 54Issue: 17Published at Mon, 25 Apr 2011