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Iran’s Inflation Falls Further To 13.5% In December
...nual payments as per the table below: Year Debt Repayment ($Bn) 1388 (2009-10) 8.201 1389 (2010-11) 3.788 1390 (2011-12) 2.206 1391 (2012-13) 1.913 1392 (2013-14) onwards 5.467 ...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Saudi Economy Will Grow By 3.9% In 2010, According To Banque Saudi Fransi
...2009 to SR203.74bn ($54.3bn). According to BSF forecasts, claims on the private sector by Saudi banks should rise 8% in 2010, from 2.1% in 2009. A fuller credit recovery is expected to unfold in 2011 as private sector appetite becomes more robust. Private sector claims next year are likely to ri...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
ABB Wins Substation Contract For First Saudi IPP
...0km north of Jiddah, and which will be developed on a build-own-operate (BOO) basis. The plant is expected to be completed by 2011, and will supply electricity to Saudi Electric Company (SEC) to meet the region’s growing industrial and residential power demands....
Volume: 53Issue: 02Published at Mon, 11 Jan 2010 -
Bids Submitted For Barqa 3 And Sohar 2 IPPs
...y of water. In November Singapore’s Sembcorp and Oman Investment Corporation signed a 15-year deal to supply Oman with power and water from the Salalah project. It will produce 400-430mw and 15mn gallons/day, reaching commercial operation in 2011. Project financing is being provided in a dollar tr...
Volume: 53Issue: 01Published at Mon, 04 Jan 2010 -
Oman Seeks Letters Of Interest For Duqm IWPP
...the largest and most important projects in the country and is of strategic importance to meet the Sultanate’s fast growing electricity and water demand,” said OPWP in a statement. The successful bidder will be awarded the contract in August 2011. The IWPP is one of five projects currently un...
Volume: 53Issue: 01Published at Mon, 04 Jan 2010 -
Increasing Gas Production And Export Bolster Qatar’s High Growth Rate
...sing production of LNG and associated natural gas liquids (NGL), says Samba in its latest report on the emirate’s economic outlook. Growth rate is projected to accelerate to 18% and 13% in 2010 and 2011 respectively as new LNG trains come on stream and the government’s robust counter-cyclical fi...
Volume: 53Issue: 01Published at Mon, 04 Jan 2010 -
Dragon Oil Shareholders Reject Takeover Offer By ENOC
...pital for the indebted emirate. In a statement posted on the Dragon Oil website on 2 December, ENOC expressed its commitment as a long-term majority shareholder to the company, stating that it would not sell shares in Dragon Oil until 31 December 2011 (MEES, 7 December). A statement issued by Dr...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Qatari Banking System Remains Sound And Profitable, Says Samba
...portunities for sustained credit expansion through 2011. In addition, growing domestic liquidity and improving access to wholesale funding and capital markets should raise deposits and bring the loans to deposit ratio back down towards the central bank limit of 90%. Broad money (cash and bank deposits) gr...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Africa Oil Extends Puntland Exploration Period
...dified terms for production sharing agreements (PSAs) for the Dharoor and Nugaal exploration areas. The amended agreements extend the initial exploration periods of both blocks from 36 months to 48 months, with an expiry date of 17 January 2011. Under the revised terms Africa Oil, which holds a 60% in...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
EBRD Encourages Kazakhstan To Diversify Away From Hydrocarbons
...Energy and Mineral Resources of Kazakhstan, extending the contract until 10 March 2011. This allows for further testing of the AKD01 exploration well, which has been drilled to a depth of 3,414ms and encountered two hydrocarbon zones....
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
Iran’s MAPNA Wins Syrian Contract For Power Plant
...th a capacity of 450mw, which will raise generation capacity at the Jandal Power Plant near Homs. The contract for €280mn will be financed by Syria and the project is scheduled for completion by the end of 2011. This is MAPNA’s second contract in Syria, the first being the extension of the Tishreen po...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
OMV Chief Says Nabucco Timetable “Very Ambitious”
...cision by late 2010 and a start to construction work in 2011 to allow gas deliveries via Turkey by 2014, “is very ambitions and to some extent out of our control.” OMV is leading the Nabucco project, but Mr Ruttenstorfer appeared keen to tone down recent optimism about the availability of gas from Az...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009 -
Hijacked Greek Crude Tanker Arrives Off Somali Coast
...e Combined Maritime Forces (CMF) and NATO comprising 30 ships as well as a fleet of maritime patrol aircraft based in Djibouti. In November, 'Umar 'Abd al-Rashid, Prime Minister of Somalia’s Transitional Federal Government (TFG) announced a new plan to eradicate piracy by 2011 (MEES, 9 No...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009 -
ENOC Affirms Commitment To Dragon Oil Shares Purchase Despite Dubai Debt Crisis
...ard of ENOC has undertaken to the independent committee that it will not sell, or accept any offer (including any partial offer) for, the shares ENOC holds in Dragon Oil until at least 31 December 2011.” The statement again expressed ENOC’s position that the offer of acquisition “represents a hi...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009 -
CNPC Signs Three Accords, Strengthens Its Presence In Sudan’s Oil Sector
...though no details of the planned expansion were mentioned last week, Sudapet’s Chairman Salah Wahbi was quoted as saying in July that plans were in place to raise Sudan’s refining capacity to 200,000 b/d by 2011. The plant was originally built by CNPC, which also completed the first expansion phase in...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Plynostav Signs Contract For AGP Homs-Kilis Pipeline
...t at €52mn, and the new contract has reduced this amount to €25mn plus S£700mn ($15mn). Work is expected to begin shortly and be completed in March 2011. Stroytransgaz built a 320km section of AGP between the Jordanian-Syrian border to the Rayan gas plant near Homs. This section was put into op...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Zadco Launches Long-Anticipated Capacity Push
...fshore Upper Zakum oil field. The incremental capacity was to have been on stream by 2011, but a review of the development strategy with a view to cutting costs has pushed this back to 2015. Costs on the development, which has to contest with deeply fractured geology, have been slashed by around 30% th...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Iran Rejects UN Nuclear Fuel Supply Proposals
...richment facility in the city of Qom, which would be commissioned by 2011. However the agency said that the belated revelation of the new uranium enrichment site might mean that Iran is hiding further nuclear activity. Iran maintains that the Qom facility constitutes a back-up option in case the first en...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Syria Inaugurates Gas Projects
...eppo to Kilis is currently under construction and is due for completion by early 2011, while the second from Aleppo will be built in the future when more gas becomes available, Mr 'Alaw said during the inauguration ceremony. At present however Syria could use the existing pipeline network Homs-Pa...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Occidental, Mubadala and NOGA Finalize Awali Joint Venture
...2011. By 2016, it should grow to 102,300 b/d, before reaching a peak of 112,600 b/d in 2019.” Mr Monfaridy added that production capacity would begin to decline slowly after 2020. Gas production capacity is expected to reach a peak of 2.75bn cfd in 2020, and hold steady until 2024, said Mr Mo...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009