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Oman’s Real GDP Growth Rate Projected To Ease To 3.9% By 2012
...Middle East Economic Survey VOL. LIV No 21 23-May-2011 oman Oman’s Real GDP Growth Rate Projected To Ease To 3.9% By 2012 Oman’s real GDP growth will ease from 6.1% in 2010 to 5.2% in 2011 and then 3.9% in 2012, according to the latest QNB Capital Economic Insight report. Om...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Deloitte: Continuing Regional Tensions Could Derail Global Economy
...pected to boost revenues in the hydrocarbon sector. However, while the economy is estimated to grow by 4-4.3% in 2011, the report highlights that unemployment remains to be a very real concern in the kingdom, with unemployment levels reaching as high as 10%. In Egypt meanwhile, following the re...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Regional Turmoil Has Impacted IPO Plans, Says PwC
...fering (IPO) plans and either deferring or shelving future IPOs, PricewaterhouseCoopers (PwC) said in a recent survey. “The first quarter of 2011 has been very disappointing so far for IPOs in the region with no transactions yet to be reported on any of the GCC exchanges compared to the three of...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Jadwa: Saudi Arabia Sees First Rise In Year-On-Year Inflation For Eight Months
...fore highlighting, however, that the slight fall in commodity prices and the strengthening of the dollar seen already in May could, if sustained, weaken the inflationary pressures over the third and fourth quarters of 2011. Moreover, monthly inflation rose to a seven-month high of 0.4%, driven la...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Nabucco Announces Further One-Year Delay, Construction Now To Start In 2013
...s expected in the second half of 2011, for at least one year. He said that construction of the pipeline could start in 2013 with the aim of transporting its first gas volumes in 2017. Yet this may not be the last postponement for the project since Mr Mitschek observed that “the ‘open season’ pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Majlis Approves 2011-12 Iranian Budget
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 IRAN Majlis Approves 2011-12 Iranian Budget The Iranian parliament on 9 May approved the budget bill for the Iranian year 1390, which started on 21 March, with total expenditure of IR5,083 trillion ($484bn at $1=IR...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Government Allocates Further $600Mn To Persian Gulf Star Refinery
...mpleted in 2011, but Mr Zeighami said the company expects the first train of the plant will not be finished for a further two and a half years. He said the refinery, which will comprise three 120,000 b/d capacity trains, is only 40% complete and has been delayed by international sanctions....
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Jordan Announces Price Increases In Some Petroleum Products
...e Jordan Refinery Company (JPRC). The latest price list will apply until 31 May. Product Prices Effective 2 May 2011 (Fils/Liter, Unless Otherwise Stated) 2011 2010 Pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Kuwait Reports $23Bn Actual Budget Surplus In 2010-11
...l revenue also increased to KD1.466bn ($5.3bn) from the projected figure of KD1.103bn ($4.0bn). Over the past years Kuwait has consistently understated its oil revenue by assuming a low oil price in the budget ($43/B in 2010-11) and overstating its expenditure. The draft budget for 2011-12 has pr...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
OPWP Projects Oman Power Demand Will Near 3.5GW By 2017
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 oman OPWP Projects Oman Power Demand Will Near 3.5GW By 2017 Average demand for electricity in Oman is projected to increase from 1.924gw in 2011 to 3.464gw by 2017, an average growth rate of about 9% per year, according to...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Qatar Banks Continue To Register Strong Growth Rate, Says QNB
...mpound annual growth rate (CAGR) of 30% between March 2007 and March 2011 to reach QR577.2bn ($158.6bn – see chart). “Total assets of the Qatari banking sector increased by 18.4% year-on-year as of March 2011, compared to March 2010 and by 21.0% as of March 2010, compared to March 2009,” said the ba...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
OPEC Countries’ Break-Even Oil Prices Expected To Continue Rising
...spond to fluctuations in prices vary greatly among the OPEC members,” PFC Energy said. The analyst estimates that the majority of OPEC members will require prices moderately higher than current levels to ensure their respective current accounts are balanced in 2011. Seeing a rising share of total ex...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
APICORP’s Net Profit Up By 62% In 2010
...ICORP’s financial strength was also evident in the first quarter of 2011, when it registered a net income of $39.3mn, while both total assets and total shareholders’ equity reached $4.42bn and $1.16bn respectively at the end of 1Q11....
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
EU Imposes Sanctions On 13 Syrian Officials
...s been under US sanctions for a while now and the latest measures are not expected to affect the country in a significant way. The US is not considering regime change in Syria and US Ambassador Robert Ford, who took up his position in Damascus in mid-January 2011, remains in the capital despite th...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Syrian Crude Production Averaged 387,000 B/D In 1Q11
...Middle East Economic Survey VOL. LIV No 20 16-May-2011 syria Syrian Crude Production Averaged 387,000 B/D In 1Q11 Syrian crude oil production in the first quarter of 2011 amounted to 34.828mn barrels (or 387,000 b/d on average), an increase of 4,700 b/d from the same quarter of 20...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Gulfsands Says Its Syrian Output Now Averaging 20,700 B/D
...oduction from these two fields will be increased to some 24,000 b/d by the end of 2011 with the drilling and tie-in of additional development and delineation wells, and via minor upgrades and debottlenecking of existing surface facilities. Gulfsands also announced that operations had recently been co...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
Algerian Court Jails Former Sonatrach Chiefs
...pendent on reserves discovered at Isarene on approval of the final discovery report due in early 2012. This sum is capped at $75mn. Budget Beef-Up On 2 May, Algeria announced an additional injection of cash to the 2011 budget, amounting to a 25% increase in public spending, Reuters reported. The ex...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Socar’s Fujairah Terminal To Be Operational By Late 2011
...Middle East Economic Survey VOL. LIV No 19 9-May-2011 CASPIAN Socar’s Fujairah Terminal To Be Operational By Late 2011 UAE Economy Minister Sultan bin Sa'id al-Mansuri told journalists in Baku following a meeting with Azeri Minister of Energy Natiq Aliyev last week that the So...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Cyprus Considers Interim Solution For Natural Gas Supply, Noble Energy Keen To Drill
...prus’s offshore Block 12. Earlier this year, Noble Energy informed the Cypriot government that it intended to begin drilling the Cyprus A structure in Block 12 during the fourth quarter of 2011 or early 2012. Speaking in Nicosia on 5 May, Mr Stover said: “Our objective is to drill here as soon as po...
Volume: 54Issue: 19Published at Mon, 09 May 2011 -
Dana Gas Finds ‘New Pool’ In South Abu El Naga Field
...id the dry gas discovery is expected to be tied in to Dana’s South El Manzala gas processing plant before the end of 2011. The plant is nearby and holds excess capacity, the company said. The South Abu El Naga-2 well is Dana’s first 2011 discovery in Egypt and its 22nd new pool discovery. “Th...
Volume: 54Issue: 19Published at Mon, 09 May 2011