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Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 IRAQ Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn The Iraqi cabinet has approved a draft budget for 2011 wi...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
NEPCO Prequalifies Bidders For Jordan’s Third IPP Project
...e in March 2011. Jordan inaugurated in October 2009 its first IPP, the ʹAmman East Power Project (MEES, 2 November 2009)....
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
US Consultancy To Assess Prospects For GCC Nuclear Power Cooperation
...er a six-month period and will be completed by the second quarter of 2011. The GCC formalized the contract with Lightbridge and its partner Exelon Generation Company. The firm will perform a group of studies to identify the relative value and implementation options that could result from regional co...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Saudi Kayan Starts Trial Operations At Jubail Phenolics Plant
...0,000 t/y bisphenol-A plant. The majority of the BPA will be used as feedstock for the production of polycarbonates. The polycarbonates unit is planned for trail start-up in the first half of 2011, the company said. In August, Saudi Kayan started seeking extra funds following the rise in capital ex...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Sudan Leaders Agree On Post-Referendum Oil Field Security
...P) and the south’s Sudan People’s Liberation Movement (SPLM). Security arrangements after 9 July 2011 will depend on directives made by the two parties following the declaration of the vote’s result, said Vice-President 'Ali 'Uthman Muhammad Taha and his southern counterpart Riek Machar. The ag...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Russia Prepared To Assist Sudan In Its Efforts To Obtain Debt Relief
...ing “irrevocable” according to the Russian envoy. “After the referendum in South Sudan in January 2011, Russia will be interested in seeing possibilities for economic development emerging both in the south and north of Sudan, therefore we will have to discuss the question of lifting the embargo im...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Battle Under Way For Control Of Iraqi Oil Portfolio
...l is vital and everyone is assuming that it will be reached. “On Tuesday [30 November], the cabinet reviewed and approved the budget,” oil ministry spokesman 'Asim Jihad tells MEES. “They have now handed it to parliament for approval. The 2011 budget will be based on an oil price of $73/B and oil ex...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Gulf Poised For 2011 Hike In Bond Issues
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 GCC/REGIONAL Gulf Poised For 2011 Hike In Bond Issues The MENA region and particularly the GCC saw robust debt market activity th...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
GCC Power Grid Project Nears Completion
...stem – Kuwait, Saudi Arabia, Bahrain and Qatar – to the Southern System – UAE and Oman. Completion is expected in 2011. The total investment of the mega-grid, launched in 2009, is about $1.6bn. The regional grid has seen some power transfers since it was launched, mainly between Bahrain, Qatar and Ku...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Crude Oil Formulas/Posted Prices
...haran Blend (44°) +0.93 +0.95 +1.15 +1.15 +1.15 +0.85 +0.20 +0.10 +0.20 +0.80 +0.90 +0.60 +0.70 Oman ($/B) 2011 2010 Jan Dec No...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Socar Completing First Appraisal Well In Umid Field
...-40mn tons of condensate.” The well will be completed this month and be followed by a second appraisal well in 2011. A Socar official told MEES that the company “could finish the exploratory phase by late 2012 - early 2013, even though the company has not yet decided on the timetable and cost of a po...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
IGB Pipeline Agreement Signed, Bulgaria Looks To IBR Link
...Traikov said that Bulgartransgaz, Bulgaria’s state owned transmission system operator (TSO), will invest another €11mn to complete the project by 2011. Its initial capacity is estimated at 1.5 bcm/y, which will be increased to 3 bcm/y and later 4.5 bcm/y to match the capacities of the IGB and In...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
CNPC To Boost Turkmen Gas Imports To Meet Winter Demand
...mpared to a contracted annual volume of 5.8 bcm/y. CNPC controls almost 90% of the country’s gas network and announced on 1 December that it plans to expand this network by 80% or 40,000km in the period 2011-15. It expects imports from Turkmenistan to reach 15 bcm/y by the end of 2011....
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Salehi Says Loading Of Nuclear Fuel At Bushehr Completed
...ant.” He said he hoped the plant would be connected to the national electricity grid by mid-February. The plant is expected to generate 400mw for the first three months of operation. If all goes to plan, output is expected to reach full generation capacity of 1gw by June 2011....
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Energy Minister Invites Inquiries From Onshore Seismic Surveyors
...formation with the ministry by 25 January 2011, according to a report by Lebanon’s official National News Agency. Lebanon is hoping to develop its energy sector as soon as possible. In August of this year the parliament passed a hydrocarbon law, but a number of measures have yet to be taken before im...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
BSF Says Saudi State Expenditure Increasing Breakeven Oil Price
...pected to continue over the next few years, though it will decline slightly as a result of still limited private sector activity, Banque Saudi Fransi (BSF) said in a new report. The bank anticipates expenditure of SR590bn ($157bn) in the budget for 2011 which, while a 9.3% increase from this year’s SR...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Petrobras And MMHC Finalize Coke Plant Deal
...nstruction will begin in the first quarter of 2011, with start-up earmarked for early 2013, local daily al-Riyadh quoted the holding group’s managing director ʹAbd al-Aziz al-Hamwa as saying. The required initial investment will be $450mn, to be funded in equal shares by the two parties with the possible in...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Sudan Anticipates Growth In Mining Sector
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 Sudan Sudan Anticipates Growth In Mining Sector Sudan expects minerals to contribute $3bn to the country’s GDP in 2011, with its go...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Syria To Launch New Offshore Bidding Round In Early 2011
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 syria Syria To Launch New Offshore Bidding Round In Early 2011 Syrian Minister of Petroleum and Mineral Resources Sufian 'Alaw sa...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
ADX Farms Out Further 10% Of Chorbane Permit
...nuary 2011. The multi-reservoir Sidi Daher prospect is located close to the port of Sfax, near a number of producing oil fields, and is the largest structure to have been mapped on Chorbane. ADX estimates that the prospect has recoverable oil potential of 44mn barrels of oil in the Abiod formation, wh...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010