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Iraq Defends Misan Refinery Deal
...tarem “has shown that it has well-known partner companies and financiers,” the ministry adds. Accordingly, “the memorandum of understanding was signed on 10 October 2013 and ends on 10 February 2014.” The ministry says it “will study and analyze all the presented” information and notes that “this me...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Tacaamol Aromatics JV
...livered through a pipeline that is part of the phase one work. Chemaweyaat in 2010 said the Tacaamol plant would incorporate a 70,000 b/d reformer. The project was intended for 2014 start-up, but the need to complete the FEED work and then award engineering, procurement and construction contracts me...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
MENA Power Survey - Regional Capacity Rises 4.4% to 350GW In 2013
...th unreliable supplies. AES Jordan and Japan’s Mitsui contracted Finland’s Wärtsilä to build a 240MW tri-fuel plant near ‘Amman, for start-up by July 2014. This will burn HFO, distillates or gas – a response to the all but drying up of gas flows from Egypt (MEES, 11 January 2013). Jordan is also de...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014
...OPEC Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014 Saudi Arabia, which has just announced its budget for 2014, is likely to cut its oil production to an average 9.4mn b/d from 9.6mn b/d in 2014 to accommodate anticipated higher output from Iran, Libya, Ir...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
QP Petchem Flotation
...ke place from 31 December 2013 to 21 January 2014. Qatar’s first IPO since 2010 is open to Qatari nationals only, and will comprise 27.725% of the company’s shares. (For political reasons Doha is keen to share its energy wealth among citizens.) QP said the shares are priced at QR10.2 ($2.80), in...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Saudi Arabia Unveils Record 2014 Budget Despite Curb On Expenditure Growth
...SAUDI ARABIA Saudi Arabia Unveils Record 2014 Budget Despite Curb On Expenditure Growth Riyadh has announced yet another record budget for 2014. But the 4.3% spending hike is lower than in previous years, in an attempt to rein in the spending boom which followed the 2011 up...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
IMF Says Jordanian Recovery On Track
...rect grants to the Jordanian central bank and finance ministry; a further $300mn came in direct budget support from Saudi Arabia, whilst $406mn came from the US, $82mn from the European Union and $20mn from other sources. For 2014, the IMF is projecting grants totaling $2.22bn, with $1.96bn to come fr...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Iraq & Turkey: Neighbors On The Road To Prosperity?
...ab Spring” countries, who have only just started on the road to reform. Against all the odds, Iraq in 2013 is far better and stronger than it was in 2003. Some observers believe that 2014’s general election will be a game changer at all levels; I’m also hopeful that the future will positively shock th...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014