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Ratings Agencies Downgrade Egypt On Political Unrest
...ting of the class A3 notes issued by Petroleum Export Limited (PEL), said Moody’s. There are some structural features in the transaction that lead the class A3 notes to currently have an intrinsic credit quality that is stronger than Egypt’s Ba2 rating. The notes will mature on 15 June 2011 and ha...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Iran’s Inflation Rate Rises To 10.8% In January
...e table below. CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1389 (2010-11) 9.513 1390 (2011-12) 3.749 1391 (2012-13) 1.884 1392 (2013-14) 1.502 1393 (2014-15) on...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Jordan’s Foreign Aid Tops $1.1Bn In 2010
...is total, grants amounted to $782.2mn, or 69%, and concessionary loans to $351.2mn, or 31%. An official of the ministry said that Jordan has managed to receive the same level of foreign aid in the period 2008-10 despite the global financial crisis and hoped that this level would be maintained in 2011...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Lebanon Asks UN To Broaden UNIFIL Mandate For Offshore Demarcation
...tober 2011 (MEES, 29 November 2010). However, the current state of political affairs in Lebanon does not bode well for follow-up legislation that will enable Lebanon to advance its nascent energy sector. The UN initially declined to become involved in the demarcation of Lebanon’s maritime borders. UN...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Saudi Economy’s Real Growth Rate Was 3.8% In 2010, Says Jadwa
...ready picked up in January, initially because of investor confidence about the outlook for 2011. The jump in the final few days of the month lifted the total value of shares traded to SR83.8bn ($22.34bn), the highest since May 2010, it concluded....
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Political Comment (7 February 2011)
...Middle East Economic Survey VOL. LIV No 6 7-Feb-2011 POLITICAL COMMENT Political Comment (7 February 2011) After a week of further violence in Egypt, the future of President Husni Mubarak was still unclear. In Jordan the king has replaced his prime minister, while in Yemen Pr...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Iraqi Export Jump Signals Output Surge
...ice slide. If Iraq manages to hit, or even go close to, its 2011 output targets and oil prices remain stable, the country appears poised for a major revenue boost. Last year saw oil income rebound from 2009 lows, despite a slight fall in export levels (see Table 2). The last four months of the ye...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Algerian 2011 Budget Boosts Government Expenditure By 13%
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 ALGERIA Algerian 2011 Budget Boosts Government Expenditure By 13% The latest wave of protests in Algeria and other neighboring countries against economic hardships and political repression highlights the urgent need to ad...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Gas Plants Face Delays
...tended to provide feedstock to the 1mn t/y ethylene cracker at the Gachsaran Petrochemical plant, which was originally scheduled to start up in 2011. New ethane and LPG recovery units in the Parsian gas processing plant are planned to complement phase two of the plant, which started up in 2008, mo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Conference Debates Options For EU Gas Import Pipelines
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 CASPIAN Conference Debates Options For EU Gas Import Pipelines Theodoros Tsakiris reports from Vienna. Germany’s former Vice-Chancellor and Foreign Minister Joschka Fischer made a plea to the 2011 European Gas Conference, wh...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Regional Turmoil Hits Financial Markets
...gion as uncertain political situations will likely remain in focus through 2011,” said JP Morgan in a 26 January update on its recommendations for sovereign paper in the region. It noted that spreads on Tunisia’s dollar denominated bond, which matures in 2012, are 138 bps (basis points) wider on th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
CGES Calls For OPEC To Produce More Crude In Face Of Tightening Fundamentals
...yadh needs an average basket price of $83/B, CGES said. Without more oil from OPEC crude prices will continue to rise during 2011, which along with rising agricultural and mineral prices, will push inflation rates up, “risking the imposition of higher interest rates on economies that are still st...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 OPEC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
KMG Reports ‘Signs Of Hydrocarbons’ From N-Block Well
...lf of 2011. Mr Kabyldin also announced on 25 January that KMG has decided to freeze the development of the Kazakhstan Caspian Transportation System (KCTS) until 2018, when the second phase of Kashagan’s oil production is expected to come on stream. “We are planning to build the oil terminal [at th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 EGYPT/EAST MEDITERRANEAN Egypt Plans To Offer Some 18 Licenses In 2011 Bid Rounds Egypt is expected to offer licenses for exploration and development in around 18 concessions during 2011, according to recent remarks made by...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Iran Reduces Emergency Fuel Additives Production At Petrochemical Plants
...pand its gasoline production capacity by 10mn liters/day (62,900 b/d) before the end of the current Iranian year (21 March 2010 – 20 March 2011) and would start inaugurating a new major refinery unit every month of 2011 starting from February. “Later in this year we will become self-sufficient th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Yildiz Visits Iran To Discuss Energy Investments
...tentially by September 2011, into the European Network of Transmission System Operators for Electricity (ENTSOE) grid. Following his meeting with Mr Yildiz, Mr Namjou noted that “a comprehensive road-map will be drawn for the two countries’ cooperation in the energy sector, which will be the pillar for Ir...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 KUWAIT Kuwait’s 2011-12 Draft Budget Projects Higher Revenue And Lower Deficit The Kuwaiti draft budget for 2011-12, which starts on 1 April, is projecting total revenue of KD13,445mn ($48,133mn), up 38.3% over the pr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 oman Oman’s Economic Growth Forecast To Hit 5% In 2011, IMF Says Real GDP growth in Oman is projected to rise further to around 5% this year, after posting growth figures of 1.1% and 4.1% in 2009 and 2010 respectively, the IM...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
IMF Trims MENA Growth Forecast For 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL IMF Trims MENA Growth Forecast For 2011 While the IMF marginally increased its forecast for world growth to 4.4% for this year, it trimmed predictions for MENA from the levels it reported in its October 2010 Wo...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011