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Egypt Announces Record Budget For 2008-09
...vernment, according to the report, confirmed its intention to pursue its policy of reducing the ratio of budget deficit to GDP to 3% by 2011-12, but has projected a ratio of 6.7% in 2008-09. At the same time the 2008-09 budget has allocated some E£215bn ($40.2bn) for “social spending”, an increase of...
Volume: 51Issue: 28Published at Mon, 14 Jul 2008 -
IEA Medium-Term Outlook Envisages Continuing Tight Oil Market
...neration activities, will rapidly expand in non-OECD countries.” IEA World Oil Supply And Demand Outlook 2008-13 (Mn B/D) 2008 2009 2010 2011 2012 2013 OECD Demand North America 25...
Volume: 51Issue: 27Published at Mon, 07 Jul 2008 -
Algeria To Spend $5.5Bn Expanding Its Oil And Gas Pipeline Network
...17* 137* 323 Expected Capacity By 2011 Number Of Pipelines 13 3 5 18 39 Length (Km) 5,368 1,718 3,...
Volume: 51Issue: 27Published at Mon, 07 Jul 2008 -
FCP To Approach Banks After The Summer To Finance Algeria’s MLE Project
...s formerly the Chief Operating Officer. FCP said that the MLE field will come on-stream in 2010, producing 200mn cfd of gas and 20,000 b/d of liquids, with the Central Area Field Complex (CAFC) coming on stream in 2011. Production in the Block 405b MLE field will then be ramped up to a level of 30...
Volume: 51Issue: 27Published at Mon, 07 Jul 2008 -
Kashagan Deal Concluded, With First Oil Set For 2013
...at the projected development costs of Kashagan had increased from $57bn to $136bn. The latest production deadline is the fourth to have been agreed. The previous agreement, in January 2008, called for production start-up in 2011. Terms for the latest deal include an additional 7.5-8% royalty pa...
Volume: 51Issue: 27Published at Mon, 07 Jul 2008 -
Saudi Aramco Awards Utilities Contract For 900,000 b/d Manifa Project
...e contracts has prompted talk of delays to the targeted 2011 start-up. However, Aramco last month said it was confident the project would begin production on schedule (MEES, 7 July). Manifa is probably the most ambitious initiative in Aramco’s current project schedule. Costs are likely to be si...
Volume: 51Issue: 27Published at Mon, 07 Jul 2008 -
Saudi Aramco Details Upstream Progress, Riyadh Updates On Security
...09; 1.2mn b/d of Arab Light from Khurais due by June 2009; and the 900,000 b/d offshore Manifa project due in September 2011. Khursaniyah “will come on-stream in August [2008],” Mr Nasser said. “We are hoping for the end of July, but even with this slight delay, for Khursaniyah we had put in a ve...
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
Costs Climb At Citadel’s Musturud Refinery
...ich is 85% owned by Citadel and 15% owned by EGPC, will start up in 2011 producing 2.2mn tons/year of diesel and 1.5mn t/y of light products, of which 700,000 t/y are gasoline blend stocks....
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
Syrian Processed Gas Output To Rise To 28Mn CMD By 2010
...har Gas Project: The project will produce 3.7mn cmd of processed gas, 180 tons/day of LPG and 1,800 b/d of condensate from the Jihar and al-Mahr fields. The project is being undertaken for Hayan Petroleum Company by Petrofac, under a contact awarded in March 2008, and is due for completion in 2011 (ME...
Volume: 51Issue: 26Published at Mon, 30 Jun 2008 -
Tunisia Increasingly Gas-Focused As Oil Production Dips
...th compression stations, this pipeline will have a capacity of 3.6 bcm/y and should be ready in 2011. Battling Reservoir Depletion Tunisia has had some success at shoring up its oil output in the last 18 months, with production expected to average 93,000 b/d in 2008, just 2% down on last year. Th...
Volume: 51Issue: 25Published at Mon, 23 Jun 2008 -
Soaring Oil Prices Push MENA Steel Demand To New Peaks
...mplex drilling and production technologies, which result in greater steel use as drilling distances increase. Tougher reservoir conditions also require special high quality down-hole steels. Saudi Aramco plans to add almost 3m b/d of crude production by 2011, but it is also making a considerable ou...
Volume: 51Issue: 25Published at Mon, 23 Jun 2008 -
Saudi Arabia’s Diversification Plans Take Shape As Ma'aden Receives Financing
...her operations can domestically access all three components, Mr Fallaj added. More than 70% of the project costs are fixed by a lump-sum turnkey (LSTK) contract, with key contractors provided by Germany, China, France, Spain and Finland. The phosphate project is set for completion in 2011. Target ex...
Volume: 51Issue: 24Published at Mon, 16 Jun 2008 -
Chevron To Participate In New Kazakh Export Route
...reement with Azerbaijan that allows Kazakhstan to transport crude through the 1mn b/d Baku-Tbilisi-Ceyhan (BTC) pipeline (MEES, 9 June). The move effectively helps clear the way for the implementation of the KCTS. The pipeline is tentatively scheduled to come into operation in 2011 with an initial ca...
Volume: 51Issue: 24Published at Mon, 16 Jun 2008 -
Kayan Signs Loan Agreement, Breaks Islamic Project Finance Records
...tane from Saudi Aramco, with ethane provided at $0.75/mn BTU and the butane price based on an international benchmark, less a discount which has been fixed at 30% until 2011. “The Saudi Arabian government’s policy is to promote development of a primary and secondary domestic petrochemicals in...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
Spain’s Fertiberia To Build A $1bn Ammonia Plant At Arzew
...n funds, while the remaining 70% would be financed by bank loans. Separately, Algeria’s Minister of Energy and Mines Chakib Khelil said the completion of various petrochemical projects under way in Algeria would give it a 5% share of global fertilizer production by 2011, and help to reduce its fo...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
CPC Pipeline Reports First Profits
...rticipation in the Baku-Tbilisi-Ceyhan (BTC) crude oil pipeline. The law opens the way for the Kazakhstan Caspian Transportation System (KCTS), which is to come into operation in 2011 with an initial 500,000 b/d capacity. Batumi Oil Terminal (BOT) shipped 718,800 tons of crude oil and products du...
Volume: 51Issue: 23Published at Mon, 09 Jun 2008 -
BG Eyes Egypt’s Deeper Horizons, Still Plans A Third LNG Train At Idku
...e $3bn that it has earmarked for Egypt, up to 2011. Together with its partners in Egypt, BG produces more than 2.3bn cfd of natural gas, out of total Egyptian gas output of 5.7bn cfd (MEES, 17 March). As a gauge of BG’s rapid growth there, it should be noted that the UK firm only started pr...
Volume: 51Issue: 22Published at Mon, 02 Jun 2008 -
Lundin Petroleum Spuds Morskaya-1 Exploration Well
...ipyard is to be completed by 2011. Russian Prime Minister Vladimir Putin has said Moscow will agree to stop using intermediaries for gas shipments to Ukraine if Kiev settles its past debts, the Russian media have reported. Ukraine said earlier this year that it had paid its outstanding de...
Volume: 51Issue: 22Published at Mon, 02 Jun 2008 -
Saudi Aramco Review Raises Question Marks Over Exploration Targets
...ditions to capacity. These include the 500,000 b/d Khursaniyah project, due on-stream at the end of last year and still not fully up and running. Meanwhile, the 1.2mn b/d Khurais project, due to start up by end-2009, and the 900,000 b/d Manifa project, due for 2011 start-up, have suffered from hiccups th...
Volume: 51Issue: 22Published at Mon, 02 Jun 2008 -
MENA Petrochemicals Producers See Ambitious Expansion Plans Held Back By Rising Costs
...ES, 5 March 2007). EMethanex, Damietta EMethanex 60%; Egyptian government 33%; Apicorp 7% 1mn t/y methanol capacity due 2010, additional 260,000 t/y due 2011. Financing closed (MEES, 11 June 2007). Sidi Kerir PE, Bu...
Volume: 51Issue: 21Published at Mon, 26 May 2008