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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 -
S&P Downgrades Tunisia Ratings, Places On CreditWatch Negative
...cal currency sovereign credit ratings, on CreditWatch negative. “We expect the current political instability and violent conflict to affect Tunisia’s economic growth in 2011 and, in particular, its tourism industry,” said S&P. The conflict may also weigh on Tunisia’s balance of payments if foreign di...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Moody’s Downgrades Tunisia Bond Rating To Baa3, Negative Outlook
...very damaging to the country’s economy given its reliance on tourism and foreign direct investment. The recent events will affect fiscal performance and real growth in 2011, according to the ratings agency. In terms of the Tunisian government’s debt payments, Moody’s noted that the risk seems li...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Dubai Cuts Deficit In 2011 Budget
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 UAE Dubai Cuts Deficit In 2011 Budget After making progress on dealing with its huge debt pile, the Dubai government’s 2011 budget adopts a slightly more cautious approach to public spending, and plans to trim the deficit to...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Tethys Wins Approval For Doris Production Program
...ris oil discovery on the Akkulka block. The approval allows Tethys to install production facilities for the planned 3,000-4,000 b/d production target for the second quarter of 2011. Currently the company is producing 750 b/d of oil from Doris under a test production permit. Once the pilot program is...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Khanaliyev Appointed Turkmengaz Chairman
...800ms, one in Keimir oil field to a depth of 4,500ms, and two in the Ekerem oil field to a depth of 3,800ms. Ria Novosti reported that the value of the contract is $32.95mn and that the work program is expected to run from June 2011 to February 2012....
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Dragon Completes Testing Of Dzheitune Development Well
...illed to a depth of 3,512ms and flowed 2,656 b/d of oil. The drilling rig will be moved to drill Dzheitune 28/152, the third development well of an 11-well program planned for 2011. A second development well, Dzheitune B/150, is currently being completed and is scheduled to undergo production te...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Jordan’s Economic Growth Projected To Reach 4.25% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 Jordan Jordan’s Economic Growth Projected To Reach 4.25% In 2011, IMF Says Real economic growth in Jordan is likely to rise further to 4.25% over the coming year, after posting a growth figure of 3.5% for 2010, the IMF sa...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Energy Minister Joins Lebanon Cabinet Exodus
...ploration in the Lebanese offshore (MEES, 20 December 2010). The ministry held a first workshop on procedures for the implementation of the oil and gas law and was planning a second workshop in February 2011 (MEES, 29 November 2010). Mr Basil also expected that Lebanon would launch its first offshore li...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Middle East Power Projects To Regain Momentum In 2011, Says Frost & Sullivan
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL Middle East Power Projects To Regain Momentum In 2011, Says Frost & Sullivan New power generation projects in the Middle East region are expected to regain lost traction in 2011 since demand is projected to nearly do...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Islamic Financial Institutions At A Crossroads, Ernst & Young Say
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL Islamic Financial Institutions At A Crossroads, Ernst & Young Say Islamic financial institutions are at a crossroads entering 2011, Ernst & Young said on 9 January. The industry will continue to be resilient in th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Government Spending Driving Saudi Economic Growth In 2011, Says Jadwa
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 SAUDI ARABIA Government Spending Driving Saudi Economic Growth In 2011, Says Jadwa The Saudi economy is expected to strengthen in 2011. Economic performance will improve though it will remain driven by government sp...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Saudi Economic Outlook Bullish For 2011, Says Riyad Capital
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 SAUDI ARABIA Saudi Economic Outlook Bullish For 2011, Says Riyad Capital Latest economic figures point to signs ofprogress in the Saudi economy, Riyad Capital (RC) said in its latest Monthly Economic Report, with all le...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
DEWA Receives Bids For Study On Coal-Based Electricity Generation
...pected to be announced in the first quarter of 2011....
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Gazprom Considers Role Of Gas Sales Intermediaries
...tween Moscow and Sofia over the South Stream gas pipeline project. However, in November Russia’s Prime Minister Vladimir Putin agreed during a visit to Sofia to phase out all intermediaries during 2011-12, with a view to establishing from 2013 direct sales contracts between Gazpromexport and Bulgargaz....
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Cyprus Agrees Details Of $6Bn LNG Supply Deal With Shell
...ich happens to lie some 60km away from Israel’s latest gas discovery – the 16 tcf Leviathan field. Noble Energy is obliged to drill a well in Block 12 between October 2011 and October 2013 (MEES, 13 December 2010)....
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011 -
Dana Gas Egyptian Production Averaged 42,000 BOED During 2010
...d-2012. Dana will conduct a 14 well exploration program during 2011. It added that crude oil production at the Komombo concession, which it shares 50:50 with Sea Dragon Energy, averaged 620 b/d and is now producing 800 b/d....
Volume: 54Issue: 01/02Published at Mon, 10 Jan 2011