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Saudi LPG Prices Raised For December
...opane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 50...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Azerbaijan Moves Further Away From Nabucco
...nkable by noting that despite the economic crisis, “DEPA would still produce an annual profit of approximately $130mn this year.” He also noted that EDF, which has owned 67% of Edison since November 2011, is one of the most financially powerful companies in Europe and “remains fully committed to the su...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Iran To Sell Long Term Gas Contract As Bonds
...nominated bonds in the form of “over the counter” gas futures contracts within the current five-year development plan (2011-15). Mr Qalebani said: “Based on this plan, gas to be produced from gas fields will be sold to people beforehand,” adding that the contracts would “allow holders to buy gas at a di...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
NIORDC Blocks Gasoline Exports Due To Winter Demand
...ratorium on gasoline exports due to the early onset of the winter peak demand season. Mr Zeighami said that since March 2011 there have been two gasoline export shipments, which MEES understands were delivered to Iraq. He added: “For now, gasoline is not exported considering the domestic requirement. Gi...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
S&P Downgrades Jordan’s Arab Bank
...vereign risk. Therefore the ratings on Arab Bank PLC are constrained by the local currency ratings on the sovereign. S&P adds that with total assets of $45bn on 30 September 2011, the Arab Bank Group is one of the Middle East’s largest banking organizations. It operates in 30 countries across five continents....
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Oman’s 2012 Budget Foresees 9% Growth In Public Spending
...dgets, 2007-12 (ORMn) 2012 2011 % Change 2010 2009 2008 2007 Revenue 8,800 7,280 +20.9 6,380 5,614 5,400 4,490 Oil Revenue - 4,...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Many MENA Countries Slipping In 2011 Corruption Index
...Middle East Economic Survey VOL. LIV No 49 5-Dec-2011 REGIONAL Many MENA Countries Slipping In 2011 Corruption Index Many MENA countries are slipping backwards and failing to tackle corruption, the latest Corruption Perceptions Index from Transparency International reveals. Pu...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
RC Sees Saudi GDP Boosted By Government Spending And Then By Oil Prices
...onomic boost from the initial round of government spending has ended, although increased oil exports have provided a significant lift in the second half of 2011. “This trend,” says the report, “together with global oil market trends for the rest of the year has caused us to sharply raise our economic gr...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Political Comment (5 December 2011)
...Middle East Economic Survey VOL. LIV No 49 5-Dec-2011 Political Comment (5 December 2011) The Arab League and Turkey have imposed sanctions on the embattled Syrian regime. Islamists have formed coalition governments with secular parties in Tunisia and Morocco, and are leading in...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Explanations Of The Recent Higher Oil Prices
...planation of the current price of nearly $100/B. Another explanation is strong economic growth in China, the fastest growing economy in the world, which may soon exceed 10%. China is consuming more than 10mn b/d of oil in 2011. It is expected to consume close to 12mn b/d in the next two years, an ex...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Gulf Sukuk Issuers Brave Volatile Markets
...apping up an active three months which saw $17bn worth of paper hitting the market, representing almost two-thirds of the year’s total (MEES, 6 December 2010). Hopes had been high, given the large amount of refinancing needed, that market activity would spike up a notch in 2011. But as the European so...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Libya Production Boost Hands OPEC Escape From Tough Output Allocation Talks
...9mn b/d for 2011 and 1.2mn b/d next year, published in OPEC’s most recent Monthly Oil Market Report (MEES, 14 November). “We are producing about 30mn b/d. I think we are forecasting that we should keep the same production maybe for next year, unless there is some negative economic development, then we wo...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Market Remains Tight Due To ‘Old Fashioned Supply Squeeze,’ Says CGES
...2011, the sudden loss of 1.6mn b/d of light, sweet Libyan crude that could not be replaced with oil of a similar quality and, crucially, OPEC’s own failure to recognize or respond to the emerging supply shortage. Oil markets appear to be existing in a world entirely separate from concerns th...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 48 28-Nov-2011 Crude Oil Formulas/Posted Prices ($/B) Yemen (Dated Brent + / - Adjustment Factor; $/B) 2012 2011 Jan Dec Nov Oct Se...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Turkmenistan And China Expand Long Term Gas Deal
...ntral Asia-China gas export system. Turkmenistan is expected to supply up to 15 bcm of Turkmen gas to China in 2011. The agreement, one of 14 intergovernmental pacts signed during a visit by Turkmen President Gurbanguly Berdymukhamedov to Beijing, calls for Turkmengaz to increase over an unspecified ti...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Egypt Resumes Gas Delivery To Jordan And Israel
...out 20% of contracted levels on 19 November. Supply disruptions have resulted in Israel failing to receive gas from Egypt for about 230 days so far during 2011. Israel is facing a shortage of gas supplies during 2012 (MEES, 24 October) and is in the process of developing the offshore Tamar gas fi...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
AMF Signs $470Mn Loan Agreement With Egypt
...Middle East Economic Survey VOL. LIV No 48 28-Nov-2011 EGYPT AMF Signs $470Mn Loan Agreement With Egypt The Arab Monetary Fund (AMF) will lend Egypt $470mn to support the country’s budget deficit in 2011-12, under a loan agreement signed on 16 November. The first tranche of th...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Minister Advises Iranians To Avoid Foreign Exchange And Gold
...change as inflation continued to edge upwards since the implementation of the subsidy reform plan in December 2010 (MEES, 27 December 2010). The latest year-on-year inflation rate for the month of October rose to 19.1% according to the CBI, up from 10.8% in January 2011 (MEES, 14 November, 7 Fe...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
NEPCO And Chinese Company Sign MOU For Shale Oil Power Plant In Jordan
...rdan is keen on developing domestic sources of energy as it depends to the tune of around 90% on imports to meet its needs. The repeated disruption in Egyptian gas supplies to Jordan in 2011 because of the sabotage of the Arab Gas Pipeline (AGP) has denied Jordan a cheap source of energy to ge...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
S&P Lowers Jordan’s Long Term Local Currency Rating
...firmed the short term local currency rating at B. The outlook was said to be negative. The rating agency also affirmed the kingdom’s BB/B long and short term foreign currency sovereign credit ratings. An S&P statement said: “Like many other Arab countries in 2011, Jordan is under public pressure to me...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011