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ExxonMobil And QP Pushing Ahead With $8bn Ras Laffan Petrochemicals Venture
...gineering, procurement and construction (EPC) on a reimbursable costs basis is likely to be put out by mid-year, with award towards the end of the year or in early 2011, an engineering source tells MEES. The project, which aims to build the world’s largest steam cracker at 1.6mn tons/year, was only announced ea...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Qatar Expected To Produce Surplus Electricity By 2011
...Middle East Economic Survey VOL. LIII No 21 24-May-2010 QATAR Qatar Expected To Produce Surplus Electricity By 2011 Qatar’s electric power generating projects, including Ras Qurtas and Mesaieed, will provide the country with a surplus of electricity as from next year, Qatar News Ag...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
GCC Economies May Grow At 4.4% In 2010 And 4.7% In 2011, According to IIF
...Middle East Economic Survey VOL. LIII No 21 24-May-2010 REGIONAL GCC Economies May Grow At 4.4% In 2010 And 4.7% In 2011, According to IIF The economies of themember states of the Gulf Cooperation Council (GCC) are now recovering and growth this year is likely to average 4.4% and th...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
2009 Saudi Trade Surplus Lowest Since 2004, Jadwa Confirms
...gure falling by just 6%. Jadwa Revises Current Account Surplus Forecast The new figures have resulted in Jadwa raising its 2010 and 2011 projections for the Kingdom’s current account surplus and oil revenues. Over the next two years, the current account surplus is expected to be $45.3bn (10.9% of GDP) an...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Higher Government Outlays Help Saudi Economy But Lending Still Hindered, Says BSF
...ospects for banks until year-end and 2011,” it adds. Banks are also vetting with greater caution loan requests from longstanding family businesses as they rethink lending policies after debt troubles surfaced in two such conglomerates in 2009. The depth of the project finance pipeline over the next two ye...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
DNO Completes Second Test On Yaalen-3 Well, Sees Increased Reserves Potential
...arter of 2011. The appraisal well, which was completed, is part of the company’s program to develop the Yaalen and Sharnah oil discoveries on the block, in which DNO holds a 40% interest....
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Sonatrach Faces Gas Challenge Amid Leadership Transition
...untry, border areas with Mali and Niger and offshore Beja'a, Annaba and Mustaghanem. With the north and southwest, “we are hoping by 2011-12 that we should have enough data to make it very attractive for bidding,” Dr Khelil said. New Guard Dr Khelil poured cold water on suggestions made in the Algerian pr...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
Dragon Oil Awards Platform Contracts For Turkmen Offshore Cheleken Area
...g. The platform will be installed in the Lam field with the capacity to handle eight wells. It is due for completion in the fourth quarter 2011. Dragon did not report the value of the contracts but said that it expects to spend around $250mn in 2010 and around $600-700mn in total on infrastructure pr...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
Aegean Energy Farms Into West Kom Ombo Block
...E holds the remaining 10% interest in the 31,520 sq km block, which has drilling prospects that could potentially hold an estimated 570mn barrels in recoverable reserves. Aegean’s working commitment will include the drilling of two exploration wells by mid-September 2011....
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
Mirkazemi Says Iran Aims To Complete South Pars Development By 2015
...rch 2011, to raise South Pars gas output from the current 200mn cmd to 265mn cmd. NIGEC Issues “Ultimatum” To Shell And Repsol Over South Pars Phases 13-14 Reza Kasaizadeh, managing director of the National Iranian Gas Export Company (NIGEC), told Mehr News Agency on 10 May that, under instruction fr...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
IMF/World Bank Outlook Uncertain For Developing Economies
...1% in 2008, is projected to rebound in 2010 to 4.5%, and grow at an average 4.8% a year during 2011-13, compared to the global average of 4.4%. In 2009, GDP growth fell only in Turkey, Cyprus, Kuwait and the UAE (by up to 3%), with Lebanon and Qatar seeing growth of above 7%. However, the report wa...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
INA And Petro-Canada Drill New Wells In Syria
...trofac is building for Hayan Petroleum Company a gas treatment plant at the Jihar field, with a capacity of 3.7mn cmd of gas, 180 tons/day of LPG and 5,000 b/d of condensate, due for completion in the first quarter of 2011 (MEES, 23 November 2009). Meanwhile Petro-Canada is planning to start drilling in...
Volume: 53Issue: 20Published at Mon, 17 May 2010 -
NIGC Estimates Gas Exports At Up To 7.5BCM This Year
...nistry of Petroleum’s PIN news service on 5 May that during the current Iranian year (21 March 2010 – 20 March 2011), Iran would import around 10bn cu ms of gas from Turkmenistan and export up to 7.5 bcm to immediate neighbours including Turkey, Armenia and Azerbaijan. This would represent a significant in...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Expanding Gas Sector And Government Spending Driving Qatar’s Growth, Says NBK
...termined drive to diversify the economy and strong government backing should help shield Qatar and secure continued growth, concludes the report. Qatar’s real GDP growth is estimated at 9.8% in 2009 and is expected to accelerate in 2010 and 2011 to 16% and 12%, respectively, largely in step with in...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Maghreb Economies Unscathed By Global Crisis, Says IIF
...ve maintained the pace of steady reforms, achieving solid growth rates and stable financial conditions. The gradual recovery in the EU area should raise demand for Moroccan and Tunisian goods and support recovery in the tourism sector. In 2011, both countries are projected to return to higher growth, 4....
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Syria And Iran Review Gas Import Plans
...eppo, Syria to Kilis, Turkey which is due to be completed by early 2011 (MEES, 23 November 2009). The two countries also agreed to implement a preferential trade agreement which is to be put into effect on 1 June and to boost the level of trade between them to $5bn. They also agreed to cooperate in the ba...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
QEWC To Build Two 450MW Gas-Fired Power Plants In Syria
...A) from its allocation to the Ministry of Electricity, said SQHC. The work will begin before April 2011 and the plants are expected to be fully operational by June 2013. The generated power will be supplied to the Syrian national grid through a long term power purchase agreement (PPA) or an energy co...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
GE To Supply Turbo Compressors For El-Merk Processing Plant
...th turbo compression equipment for Groupement Berkine’s El-Merk central processing facility (CPF) in Algeria, GE said on 26 April. The facility, located in the Berkine Basin, is expected to start production in late 2011, and will serve as a production hub for the region, handling hydrocarbons from Bl...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Nabucco Launches Prequalification Process For Long Lead Items
...nsortium plans to make a final investment decision on the €7.9bn project during the fourth quarter of this year. Construction is scheduled to begin at the end of 2011 and first flow is due in 2014 with an initial throughput of 8-10 bcm/year. Full capacity of 31 bcm/y is expected to be reached in 2018. A st...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Turkey And Azerbaijan Reach Agreement On Gas Purchase And Transit
...secure gas shipments from Iran across Turkey, Greece, Albania and the Adriatic Sea to Italy (MEES, 29 March, 22 March). Meanwhile, Russia’s Gazprom has arranged with Azerbaijan to purchase 1 bcm in 2010 and 2 bcm in 2011. The Russian monopoly has offered to purchase all Shah Deniz Stage 2 ou...
Volume: 53Issue: 18Published at Mon, 03 May 2010