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Eni And KMG EP Sign Upstream, Downstream MOU
...pected to begin in 2011 (MEES, 9 November). Two minority shareholders in Dragon Oil have said they will reject the offer made by ENOC to purchase all the shares of the company for £4.55 in cash for each share. Baille Gifford & Co, which holds 4.2% of Dragon, and Noster Capital, with 0....
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Israel’s Mekorot To Build Desalination Plant In Cyprus
...move into sectors such as water and energy,” a spokesperson for Logicom told MEES. “We have started construction, though we are still in the design phase of the process. The structure is expected to be completed within 24 months, by August 2011,” said Logicom....
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Iran’s Inflation Rate Falls To 16.7% In October
...10-11) 2.569 1390 (2011-12) 2.138 1391 (2012-13) 1.852 1392 (2013-14) onwards 5.287...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Saudi Aramco Expands Petrochemicals Operations
...ceive benzene and paraxylene feedstock from the aromatics complex. A propylene unit will utilize ethylene and a mixed C4 stream, and will also supply the derivatives units. If the project gets final approval, construction should begin in 2011 with start‐up due late in 2014. Fujian involved ex...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
No Role For Iran In Nabucco, Says RWE
...ippers on a binding basis is expected to be commenced in the first half of next year. It added that a final investment decision is expected at the end of 2010 and that currently costs for construction of the 3,300km pipeline are estimated at approximately €8bn. Building is planned to begin in 2011 an...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Nabucco Begins Dialogue With Lenders, Says Mitschek
...tschek said, adding that the talks are aimed at determining the key financing parameters and other important project decisions. The 31 bcm/year capacity, 3,300 km gas pipeline is estimated to cost €8bn. A final investment decision is expected in 2010 and construction should begin in 2011. “The mo...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Economic Outlook Positive But Private Investment Low, Economists Say
...owth at 3.6% and 4.7% in 2010 and 2011, according to its base case estimates, amid rising oil production, stronger domestic demand on the back of the government’s expansionary fiscal and monetary policy, and a gradual resumption of credit growth. Morgan Stanley also expects inflation to de...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Somali PM Announces Piracy Eradication Effort
...Middle East Economic Survey VOL. LII No 45 9-Nov-2009 SOMALIA Somali PM Announces Piracy Eradication Effort The Prime Minister of the Transitional Federal Government (TFG) of Somalia, 'Umar 'Abd al-Rashid 'Ali Sharmarke, has announced a plan to eradicate Somali piracy by 2011...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Italy’s Bonatti Awarded $150Mn El-Merk Pipeline Contract
...pected to come on-stream in late 2011 or early 2012 with output capacities of 135,000 b/d of crude oil, 150,000 b/d of condensate and 30,000 b/d of LPG (MEES, 10 August)....
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Iran Threatens To Replace Sofregaz On Varamin Project
...cently expressed an interest in the project. These companies include Germany’s KBB, Russia’s Stroytransgaz and Poland’s POGC. The Yort-e-Shah gas storage facility had been expected to start operations in 2011. The natural gas storage facility in the city of Varamin, 70km southwest of Tehran, will ha...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Hanwha Wins Contract For Samra Power Plant Expansion
...ung Kim at the signing ceremony, which was attended by Jordan’s Minister of Energy and Mineral Resources Khaldun Qutaishat. The project, expected to be completed by 2011, should help address the kingdom’s growing electricity demands....
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Dubai To Be More Cautious In GRE Support, S&P Says
...andard & Poor’s Ratings Services (S&P) reports. The ratings agency estimates a total debt of $80-90bn owed by the emirate’s government and its related GREs, the majority of which will be due in 2011 and 2012. Cumulative debt repayments over the next three years for Dubai-based GREs are speculated to am...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
EU Calls For Ceasefire, Reforms In Yemen
...rliament and parliamentary groups as part of efforts to improve the electoral system, following the failure of the ruling party and opposition to agree to the holding 2009 elections. The council called for elections in 2011. “The EU will continue to accompany Yemen on this difficult reform path and of...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Sonatrach Shortlists Firms For Tiaret And Algiers Refinery Projects
...ing on-stream in 2011, but which now looks unlikely to be completed before 2014 at the earliest. Sonatrach’s head of downstream 'Abd al-Hafid Feghouli told MEES in November last year that the company expected to see the project’s total costs reduced from $6bn to $5bn, due to the fall in co...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
UK Treasury Orders Financial Firms To Stop Trading With Bank Mellat, Iran Shipping Lines
...ansfer 80% of the once wholly state-owned bank into private hands by late 2011....
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
BofA Merrill Lynch Predicts Strong GCC Growth
...see an average real GDP growth of 8.01% in 2010, mostly due to its expansion in LNG capacity. As the non-oil sectors will likely be the main drivers of Qatari growth beyond 2011, the firm posits an unclear picture for the country’s long-term growth due to falling inflation (caused by a st...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UAE To See Modest Economic Recovery in 2010, NBK Projects
...fice space by 50% by 2011. Inflation, meanwhile, is expected to remain low, perhaps below the estimated 2009 figure of 1.9%, due to much lower growth in labor costs, depressed housing rents, and a competitive retail market. A rise in UAE interest rates is also thought to be unlikely, due to the su...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
Jordan Signs Agreement For Qatraneh Power Project
...10, while the second combined cycle phase will become operational in August 2011. Jordan needs to increase generation capacity by around 300mw annually to meet rising electricity demand, according to the Ministry of Energy and Mineral Resources strategic plan....
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Emerging Market Sovereign Credit Resilient To Recent External Shocks, Says S&P
...sitive real per capita income growth in 2009, while eight will continue to contract in 2010. The fiscal position of almost every government will be worse than that of the preceding five years as automatic stabilizers operate. Comparing 2007 with 2011, government debt levels are expected to increase by...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Libya Agrees To Buy Verenex At A Discount After Blocking Chinese Deal
...visages bringing the discoveries made there on-stream by 2011 at an initial rate of 50,000 b/d of oil and 60mn cfd of gas. Along with its partner in the concession, Indonesia’s Medco Energi, which holds a 50% working interest, Verenex has spent $320mn on its exploration activities. A senior Medco of...
Volume: 52Issue: 39Published at Mon, 28 Sep 2009