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Beach Energy To Acquire Onshore Egyptian Interest From KEC
...nuary 2011, following approval by Egyptian authorities. The Abu Sennan acreage covers about 1,600 sq km in the Western Desert, and contains numerous oil prospects, four of which have been approved by authorities for drilling. The first 12-month drilling program on the block is set to commence in two mo...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Saudi Aramco-Dow Petchem Project Costs Still Pegged At Over $20Bn
...moving to Jubail,” explained a source with knowledge of the project, noting that the new site can also provide power and port facilities. A number of process units have therefore been dropped from the initial plan, including a cracker, MEES understands. FEED Completion Scheduled For Mid 2011...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
IMF Approves $370Mn Loan To Support Economic Reform
...10 2011 2012 2013 (Change in %) Production and Prices Real GDP at Market Prices 3.2 3.3 3.6 3.9 8 4.1 4.1 4.4 Real Non-Hydrocarbon GDP 4.7 5.3 4.8 4....
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Petroceltic Contracts Dalma For Drilling On Isarene
...troceltic said that data from the results of the earlier drilling campaign suggests that Ain Tsila may be a “world class hydrocarbon resource.” The company plans to present a development plan to the Algerian authorities at the end of the appraisal program, in the first half of 2011. In March, the company ra...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Cyprus To Get Third Wind Farm
...e other also in the Larnaca district. The project is scheduled to be complete by the third quarter of 2011 and its expected advantages include the reduction of 23,220 tons of carbon dioxide relative to the amount of diesel fuel needed to generate the same amount of energy. The Cyprus Ministry of Co...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
CBI Statistics Show Fall In Oil And Gas Export Revenue In 2009
...yments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1388 (2009-10) 3.491 1389 (2010-11) 8.437 1390 (2011-12) 2.346 1391 (2012-13) 2.026 1392 (2013-14) onwards 5.848 The decline in oil re...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Oman’s First Ferrochrome Smelter To Be Completed By End-2011
...rbon ferrochrome smelter into production by the end of 2011. The 75,000 tons/year plant will be built at Sohar, and is expected to cost $70mn. Al Tamman Indisil Ferrochrome, a 50:50 joint venture between Al Tamman Trading Establishment, a wholly-owned subsidiary of Muscat Overseas Group, and Kerala-ba...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Saudi Kayan Seeks Extra $2.4Bn As Capex On Petrochemical Project Rises
...trochemical and chemical products. The company said that it has started trial production at its olefins complex, and plans to start full commercial operations at 15 of its 16 processing units before the end of 2011. When Kayan signed its loan agreement in 2008 (MEES, 9 June 2008) construction was ongoing and SA...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Saudi Construction Showing Strong Recovery, NCB Says
...ntracts awarded to reach $64bn and $86bn in 2010 and 2011, respectively. Fresh Lending To The Construction Sector Source: SAMA and NCB Estimates. The value of projects planned or announced for 2010-15, meanwhile, is roughly SR1,575bn ($420bn), compared to the SR825bn ($220bn) worth of contracts in 20...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Hayan Gas Plant To Start Up In Early 2011
...Middle East Economic Survey VOL. LIII No 31 2-Aug-2010 SYRIA Hayan Gas Plant To Start Up In Early 2011 The Hayan gas treatment plant in Syria’s Jihar field west of Tadmur, which will have ca...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Bulgaria And Russia Sign South Stream Implementation Agreement
...e 63 bcm/year South Stream gas pipeline. The agreement, which was linked to the lowering of Russian gas export prices to Bulgaria, sets a deadline of February 2011 for the establishment of the Gazprom-Bulgargaz joint venture company that will own, build and operate on a 50:50 basis the Bulgarian pa...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Vitol To Build New Oil Terminal In Cyprus
...port these products from this terminal to other parts of the east Mediterranean,” VTTI CEO Rob Nijst said at a press conference in Nicosia on 22 July. Construction is expected to begin by January 2011 or earlier, with Mr Nijst adding that the facility’s eventual expansion would be modeled on its si...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Eni Starts Gas Production From Tuna Field Offshore Egypt
...ntinue with in-fill drilling in Temsah field and the development of the Denise B field, which is expected to come into production in 2011, according to Eni....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Jordan Expects To Conclude New Deal To Import More Gas From Egypt
...pply to 3.3 bcm/y by the first quarter of 2011. But he added that in the meantime the Egyptian government had pledged to maintain the full 2.4 bcm/y supply provided for under the 2004 agreement. Mr Irani also noted that Jordan plans to convene a meeting of the AGP member countries in 'Amman to di...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
IMF Expects Kuwait’s Economy To Rebound In 2010
...e exchange rate regime, macro-prudential policies should ensure financial stability if inflationary pressures were to reemerge. Selected Kuwaiti Economic Indicators, 2004–11 2004 2005 2006 2007 2008 Prel 2009 Est 2010 Proj 2011 Oil an...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Moody’s Sees Stable Outlook For Omani Banks And Economic Growth In 2010-11
...imarily for infrastructure projects. “However, banks’ interest rate margins could remain pressured by intense and concentrated competition, while sizeable lending and funding concentrations will raise the banks’ risk profiles,” notes the rating agency. For 2010 and 2011, Moody’s projects the country’s GDP to...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
SABIC Reports Sharp Rise In Income In 1H10
...pacity of 6mn tons of ethylene, propylene and ethylene glycol, is on track, it added in a statement. The company expects 15 out of 16 plants to begin full commercial operations by the end of 2011, according to SABIC Executive Vice-President Musa'id al-Uhali....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Kazakhstan Reimposes Oil Export Duty, KMG EP Buys Producing
...venues to amount to $400mn in the second half of 2010 and almost $1.2bn in 2011. Meanwhile, the KMG EP exploration and production subsidiary of state firm KazMunaiGaz (KMG) announced on 13 July that it will buy KMG’s stake in three major producing oil fields for $750mn. A press statement said KMG EP wi...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Iranian Gasoline Imports Halved In First Quarter, IEA Assesses Impact Of Sanctions
...First Quarter, IEA Assesses Impact Of Sanctions Iranian gasoline imports almost halved during the first quarter of the current Iranian year (21 March 2010 – 20 March 2011) to 507,250 tons of gasoline worth $376mn,ISNA news agency reported on 13 July. In the same period last year Iran imported 1....
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Iranian Government Sells 18 % Of Iran Khodro
...rket. The company plans to increase its production of vehicles in 2011 to 730,000 from 680,000 in 2010. The TSE Tepix Index closed at 15,080 on 14 July, rising sharply from around 12,537 at the beginning of the new Iranian calendar year starting on 21 March. The government plans to privatize a nu...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010