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Samba Forecasts 6% GDP Growth For GCC Economies In 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 REGIONAL/GCC Samba Forecasts 6% GDP Growth For GCC Economies In 2011 Although the global economy enters 2011 in a state of some uncertainty, the outlook for the GCC economies remains positive, with regional real GDP gr...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
DEWA Plans To Add 2GW Of Generating Capacity In 2011
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 UAE DEWA Plans To Add 2GW Of Generating Capacity In 2011 Dubai Electricity and Water Authority (DEWA) will complete the Substation M Project at Jebel Ali in 2011, with a capacity to generate 2gw of electric power and de...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Political Comment (31 January 2011)
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 POLITICAL COMMENT Political Comment (31 January 2011) The turmoil unleashed by the revolution in Tunisia has metastasized to Yemen and, more crucially, Egypt. Lebanon's new prime minister has the backing of Hi...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Competitiveness And Saudi Petroleum Policy
...d raising their productivity, and cost reduction. Global Economy At the request of the agency organizing this forum, I will address today the global oil market in 2011 and touch upon three main points: the global economy, the oil market and the Kingdom’s petroleum policy. I will start with th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Cyprus Government Sees Delek LNG Proposal As Positive Development
...fshore territories, providing each with a legal boundary in which to conduct offshore exploration (MEES, 27 December 2010). The first phase of Noble Energy’s license for Block 12 is due to expire in October 2011 under the terms of its production sharing contract with Cyprus. Before then it must pr...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Question Marks Surround KRG Oil Export Breakthrough Claim
...e meeting, it was also agreed that oil export from the Kurdistan region will resume by February 2011 and that the Kurdistan region will have its share from crude oil to supply the needs of the local refineries and plants,” it added. According to federal oil ministry spokesman Asim Jihad, Ba...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Oman’s 2011 Budget Targets Social Development And Growth
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 OMAN Oman’s 2011 Budget Targets Social Development And Growth Oman’s record budget for 2011 will continue the gearing of public expenditure towards social spending on health, education, housing and infrastructure, as well as...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Badri Hits Back After IEA Labels Oil Prices ‘Alarming’
...global demand for the coming year at 89.1mn b/d of crude, some 1.8mn b/d more than the latest OPEC projection of 87.3mn b/d as published in its latest Monthly Oil Market Report (MOMR) released on 17 January. The MOMR estimates global appetite for OPEC crude in 2011 at 29.4mn b/d, again some 50...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
OAPEC Refining Capacity Boosted By 455,000 B/D In 2009
...e first half of 2011 is expected to be a watershed period for the Saudi refining and petrochemical sector (MEES, 3/10 January, 16 August 2010). Last year a $2.6bn debt package was signed for the Musturud refinery, becoming the largest project financing not only in Egypt, but in Africa. Its su...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
IEA Increases Demand Growth Forecast On Global Economic Rebound
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 SUPPLY/DEMAND IEA Increases Demand Growth Forecast On Global Economic Rebound The International Energy Agency (IEA) has increased its forecast for global oil demand in 2010 and 2011 by an average of 320,000 b/d. In its la...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Feb Jan De...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Bahrain Cabinet Unveils Record Budget For 2011-12
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 Bahrain Bahrain Cabinet Unveils Record Budget For 2011-12 Bahrain’s two-year budget for 2011-12 was approved by the cabinet on 6 January, with total revenue for the period projected at BD4.44bn ($11.8bn at BD1=$2.66) – co...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Azerbaijan Doubling Gas Exports To Russia
...plement its pledge to double gas exports to Russia. Under the agreement, Socar is raising gas supply to Russia’s North Caucasus provinces to 1.5bn cu ms in 2011 from a level of 799.8mn cu ms in 2010. Meanwhile, Socar announced on 17 January that the price of its Azeri Light sweet crude oil has ex...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Venezuela Halts Fuel Exports To Iran, As Mirkazemi Predicts Self-Sufficiency
...directed output from petrochemical plants for use as blending components, in a bid to reduce pressure on its gasoline and diesel supplies. Iranian Minister of Petroleum Masoud Mirkazemi told reporters in Tehran on 16 January that Iran would inaugurate a new major refinery unit every month of 2011 st...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Jordan Lowers Some Petroleum Product Prices To Curb Inflation
...cluded JD77mn for LPG, JD120mn for bread, JD145mn for water and electricity, JD35mn for food, JD85mn for poor families and JD90mn for medical treatment for citizens not covered by health insurance. Product Prices Effective 12 January 2011 (Fils/Liter, Unless Otherwise Stated) 2011...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Government Collapse Is Credit Negative For Lebanese Banks, Says Moody’s
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 Lebanon Government Collapse Is Credit Negative For Lebanese Banks, Says Moody’s The collapse of the national unity government is credit negative for Lebanon’s banks as it brings into question 2011 economic growth pr...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
S&P Revises Outlook On Three Lebanese Banks
...count deficits were expected before the political crisis, forecast at 7.5% and 19% of GDP respectively in 2011. “We project this year’s public debt burden at more than 120% of GDP,” added S&P. Lebanon’s unity government collapsed on 12 January when 11 opposition ministers resigned due to a long running di...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Syria And Iran Discuss Gas Pipeline Project
...rian gas interconnector, scheduled to be commissioned in the second quarter of 2011 (MEES, 14 January 2008). Mr 'Alaw, who had earlier paid a visit to Iraq with a delegation headed by Syrian Prime Minister Naji al-'Utari, said that new Iraqi Oil Minister 'Abd al-Karim al-Laibi supported the idea of th...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
SABIC Unveils 2010 Financial Results, Sees Higher Sales And Profits In 2011-12
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 SAUDI ARABIA SABIC Unveils 2010 Financial Results, Sees Higher Sales And Profits In 2011-12 Saudi Basic Industries Corporation (SABIC) announced on 19 January its interim financial results for the 12 months ending 31 De...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Syria Plans To Raise Domestic Price Of Fuel Oil To Market Level
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 syria Syria Plans To Raise Domestic Price Of Fuel Oil To Market Level The Syrian government has announced plans to gradually raise the domestic price of fuel oil with effect from 1 April 2011, in a bid to match in...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011