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Turkmenistan And China Sign Preliminary Deal For Expansion Of Gas Exports
...eld. The agreement will be finalized within the second half of this year, according to China’s National Development and Reform Commission. China imported around 6 bcm of Turkmen gas via the Central Asian pipeline in 2010 and is looking to boost imports to 15 bcm in 2011 and 20 bcm in 2012....
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Cyprus Ratifies Delimitation Agreement With Israel
...pected to begin before the end of 2011 in Cyprus’s Block 12, which lies near the recent Leviathan discovery made in Israel’s EEZ by Houston-based Noble Energy (MEES, 21 February)....
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Iraqi Parliament Approves Record 2011 Budget Based On $76.50/B Oil Price
...Middle East Economic Survey VOL. LIV No 10 7-Mar-2011 IRAQ Iraqi Parliament Approves Record 2011 Budget Based On $76.50/B Oil Price The Iraqi parliament on 20 February gave the final green light to the 2011 draft budget after several unsuccessful attempts that necessitated the re...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Transparency Improving, But Bolder Anti-Corruption Actions Still Needed, Says TI
...ould take bolder actions to stop corruption, according to the 2011 Report on Oil and Gas Companies by Transparency International (TI) and Revenue Watch Institute (RWI). “It is good news that transparency is improving, but too few companies publish what they pay governments in each country where th...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Saudi Economic Fundamentals Positive Despite Regional Turmoil, Says Samba
...mestic financial markets, said Samba in its February 2011 Economic Monitor. Preliminary figures released by the Ministry of Finance show that the Saudi economy grew by 3.8% in real terms in 2010, up from 0.6% in 2009. The government sector grew by 5.9%, while the private sector expanded by 3.7%. “The ye...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011 -
Gazprom Expects South Stream Pipeline Completion In 2015
...nsortium, which has been pending since June 2010. Mr Miller said that he was confident of the French company’s participation and expected the final documents to be signed “by late 2011.” In an interview published last week by European Energy Review, South Stream CEO Marcel Kramer said: “To me that is al...
Volume: 54Issue: 09Published at Mon, 28 Feb 2011 -
Egypt Stock Market Stays Shut As MENA Stocks Tumble
...ar, but now has been extended until the end of calendar 2011. This is to ensure supply of vital food stuffs – to avoid shortages and to avoid inflationary pressures, commented Mr Rahmy....
Volume: 54Issue: 09Published at Mon, 28 Feb 2011 -
Regional Unrest Spreads, Concerns Raised Over Saudi Arabia
...ipping manager at Yemen LNG, as saying. Overall Yemen LNG sales to Asia in 2011 should rise to 57 cargoes from 43 cargoes last year with 44 going to South Korea, Mr Cave added. Oman’s Peaceful Protest About 300 people in Muscat demanded political reforms and better pay in a peaceful protest in Om...
Volume: 54Issue: 09Published at Mon, 28 Feb 2011 -
Ukraine Begins Supply Of Azeri Crude To Belarus
...0,000 b/d capacity Odessa-Brody pipeline, under an agreement signed last month with Azerbaijan’s state firm Socar. The agreement calls for the supply of up to 4mn tons of oil in 2011, with Azeri crude arriving at Odessa in tankers (MEES, 7 February). UkrTransNafta announced on 14 February that it is al...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
QCB Orders Conventional Banks To Stop Offering Islamic Banking Services
...structions prohibit Qatari commercial banks from extending new Shari'a compliant loans and require that they repay all Islamic deposits as they come due. Since most deposits are typically short term, they will be repaid by the end of 2011. QCB’s directive does not indicate whether the conventional ba...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
QAPCO Awards Mesaieed Ethylene Plant Expansion Contract To Shaw Group
...cklog of unfilled orders in the second quarter of fiscal year 2011. In 2010, Shaw announced full commercial operation of a grassroots 1.32mn t/y ethylene plant in al-Jubail, Saudi Arabia, for Eastern Petrochemical Company (SHARQ)....
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
APICORP Puts Arab Energy Investment At $430Bn In 2011-15
...Middle East Economic Survey VOL. LIV No 8 21-Feb-2011 REGIONAL APICORP Puts Arab Energy Investment At $430Bn In 2011-15 Arab energy capital requirements will continue to recover from the contraction that occurred during the global economic crisis, climbing to $430bn in 2011-15 fr...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Arab Power Generation Capacity Projected To Grow By 7.7% In 2011-15, Says APICORP
...Middle East Economic Survey VOL. LIV No 8 21-Feb-2011 REGIONAL Arab Power Generation Capacity Projected To Grow By 7.7% In 2011-15, Says APICORP Power generation capacity is projected to grow at a relatively subdued rate of 7.7% for the period 2011‐15, resulting in an ad...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Middle East M&A Activity Expected To Grow 20% In 2011
...Middle East Economic Survey VOL. LIV No 8 21-Feb-2011 REGIONAL Middle East M&A Activity Expected To Grow 20% In 2011 Mergers and acquisitions (M&A) activity in the Middle East is set to rise by 20% in 2011 relative to last year, in spite of lingering concerns over buyers and se...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Majlis Report Estimates Budget Deficit At $21Bn In First Nine Months Of 2010-11
...different sectors including the oil industry. He added that it was necessary to investigate the 1389 budget in order to make the 1390 (2011-21) budget “more realistic.” Meanwhile another deputy, Elias Naderan, who is a member of the Majlis Economic Commission, has cautioned in a newspaper ed...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Fresh Confusion Hits KRG-Baghdad Oil Negotiations
...t the incident does highlight the difficulty of the KRG-Baghdad negotiations. KRG exports have started, but without a firm agreement with Baghdad. Hence they could, as they did in 2009, grind to a halt, with negative repercussions for Iraq’s 2011 budget, oil development in the KRG and wider Ir...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Kuwait’s First IWPP Nears Request For Proposal
...pects to remit the bids before the summer to be able to award the project in 2011. The PTB will launch further IWPP plans, MEES understands, as this is expected to be the first of a series of projects. Plans suggest the inaugural IWPP at al-Zour will generate 1.5gw of electricity and 100mn ga...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
SAMA Adds $6.67Bn To Foreign Assets In December Due To High Oil Prices
...git growth in 2011,” according to BSF forecasts. Private bank credit, excluding investments in securities, hit SR743.05bn ($198.15bn) in December, up 4.8% year-on-year, SAMA reported. The proportion of loans outstanding in December carrying maturities of three years or longer rose to 24.8% from 23...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
TAQA Profits Surge To $255Mn For 2010
...ar. Combined with our rapid and tightly priced completion of necessary refinancing during 2010, we have started 2011 with confidence and conviction.” Over the course of the last year, the state-run utility pursued a number of strategic initiatives in the oil and gas sectors. These include the co...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
IMF Says Algeria Managed To Mitigate The Effects Of Global Financial Crisis
...its latest Article IV consultation published on 26 January. Real GDP growth in 2010 is projected at 3.3%, with non-hydrocarbon real GDP estimated at 5.3%, and projections for 2011 are almost at the same level as in 2010. The IMF said that the prudent macroeconomic management of the last 10 ye...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011