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Juba Government Facing Serious Financial Difficulties As Oil Revenues Dwindle
...artoum have been too preoccupied with sharing the country’s oil rent, and are principally using the revenue to build up arms, ahead of a proposed referendum on independence for the south in 2011, and at the expense of economic development and national stability. The report estimated that as much as 60...
Volume: 52Issue: 09Published at Mon, 02 Mar 2009 -
Petrovietnam And Partners Form JV To Develop Blocks 433a/416b, Target 21,000 B/D In 2011
...Middle East Economic Survey VOL. LII No 8 23-Feb-2009 ALGERIA Petrovietnam And Partners Form JV To Develop Blocks 433a/416b, Target 21,000 B/D In 2011 Petrovietnam and its partners on Blocks 433a/416b in eastern Algeria agreed on 10 February to form a joint venture to develop th...
Volume: 52Issue: 08Published at Mon, 23 Feb 2009 -
Lukewarm Response To Privatization Of Bank Mellat
...thin 2009-10 and a further 60% by 21 March 2011. A senior member of the Iranian Privatization Organization (IPO), Fathali Khosdin, who is overseeing the process, told the press “we have been seeking this for a long time as this gives a free hand to the bank. Under the present structure, we have re...
Volume: 52Issue: 08Published at Mon, 23 Feb 2009 -
Iran’s External Debt Fell To $23.3Bn By September 2008
...yments in the following four years: Year Debt Repayment ($Bn) 1387 (2008-09) 6.722 1388 (2009-10) 5.126 1389 (2010-11) 2.561 1390 (2011-12) 2.120 1391 (2012-13) onwards 6.775 Th...
Volume: 52Issue: 06Published at Mon, 09 Feb 2009 -
Saudi Fransi Finances Steel Project
...mpany has a paid-up capital of SR450mn ($120mn) and the project will attract total investments of some SR1.3bn ($346.7mn). Construction of the first phase of the project will start soon and production of some 1.5mn tons of various types of steel is expected in 2011. The steel plant will be built in th...
Volume: 52Issue: 06Published at Mon, 09 Feb 2009 -
ABB Wins $95Mn Order For Saudi Power Substations
...e 2008 and the substations are scheduled for completion in 2011. ABB will be also responsible for the design, supply, installation, and commissioning of the substations (132 kV and 110 kV)....
Volume: 52Issue: 05Published at Mon, 02 Feb 2009 -
Bahrain, Saudi Arabia Plan To Build Oil Pipeline By 2011
...Middle East Economic Survey VOL. LII No 4 26-Jan-2009 Bahrain Bahrain, Saudi Arabia Plan To Build Oil Pipeline By 2011 Long-envisaged plans to build a new oil pipeline between Saudi Arabia and Bahrain are progressing. The engineering design is expected to be completed by the en...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Sudan Peace Deal Increasingly At Risk, Report Warns
...t been resolved. As a consequence of these failures, the referendum that is due to take place in 2011 is becoming the CPA’s centerpiece, and all but a few expect that the south will vote for secession, which was only regarded as a last resort when the agreement was drafted. Unequal De...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Jadwa Says Financial Crisis Has Shifted Focus Of Saudi Economic Policy
...eir funding requirements without borrowing.” For example, state oil firm Saudi Aramco does not need to borrow to finance its investment plans, says the report, although it is working on five capacity expansion projects to 2011 that are budgeted at $60bn. Jadwa Estimates For Key Saudi Arabian Ec...
Volume: 52Issue: 01Published at Mon, 05 Jan 2009 -
Bulgaria In Negotiations To Buy Egyptian Gas From 2011
...Middle East Economic Survey VOL. LI No 51-52 22/29-Dec-2008 EGYPT Bulgaria In Negotiations To Buy Egyptian Gas From 2011 Bulgaria’s Minister of Economy and Energy Petar Dimitrov was quoted by local media on 4 December as saying that Bulgaria was negotiating the supply of up to...
Volume: 51Issue: 51Published at Mon, 22 Dec 2008 -
Putin Increases Pressure On Ukraine To Repay Gas Debt
...liveries if the debt dispute is not settled before the end of December. According to the October agreement, Russia would charge Ukraine less than the European-level gas price until 1 January 2011, with the two parties agreeing on a steady price for a two-year transition period in 2009-10. Ukraine says th...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Twenty-One Companies Pre-Qualified For Area 47, As Verenex Mulls Its Options
...early November, $800-850mn would need to be spent on bringing the oil and gas discoveries at the ‘A’ field on-stream by 2011, at initial rates of 50,000 b/d and 50mn cfd respectively. Verenex and Medco would shoulder 25% of the costs each, with NOC funding the rest. Under the EPSA-4 contract, Ve...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Iran’s Refining Expansion On Track To Meet Gasoline Deficit, Says FACTS
...adan. These three projects alone will produce enough gasoline to eliminate all imports in the short term. The Abadan upgrade will be completed in 2010, Arak in 2011-12 and Isfahan in 2012-13.” There will be crude distillation unit expansions at the Lavan, Arak, Tabriz and Isfahan refineries, which wi...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
UAE Liquidity Squeeze Raises Growth Prospect Questions, Says S&P
...2011 at almost $40bn (MEES, 1 December). The average refinancing requirement during this period represents a substantial 8% of the UAE’s GDP. This is equivalent to 10% of total bank loans, on average. While this is a significant magnitude, S&P believes refinancing risks will remain manageable de...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
Verenex Says Corporate Sale Of Libyan Assets Is ‘One Strategic Option’
...w weeks after the company submitted a final appraisal report to NOC for the first phase of the development of those discoveries (MEES, 17 November). The development plan envisages oil production of around 50,000 b/d and gas production of 50mn cfd, starting in 2011. But it is expected to cost ar...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Oman Signs EPSA With Occidental And Mubadala
...mmence immediately and that production from the area in question is expected to begin in 2010 and reach plateau of about 165mn cfd (27,500 barrels of oil equivalent per day – boed) by the end of 2011. Occidental’s net share of production at plateau is expected to be approximately 10,000 boed, with Mu...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Hyproc Receives New LPG Carrier From Japan’s Namura, Algerian LPG Exports Set To Rise
...signed to expand and modernize Hyproc’s fleet. The company expects to receive three more LPG carriers, each with a capacity of 35,000 cu ms, between 2009 and 2011, two of which are being constructed by Korea’s Hyundai Heavy Industries (HHI) following an agreement signed in September (MEES, 8 Se...
Volume: 51Issue: 46Published at Mon, 17 Nov 2008 -
Iran’s Oil Production Not Expected To Increase Medium-Term, Says FACTS
...0 B/D) Phase 1 (Timeline) Phase 2 (Timeline) Anaran StatoilHydro (Likely) 68 (2011-12) 130 (2015) Azadegan PetroIran* 50 (2009) 170 (2013-14) Yadavaran Sinopec 85 (20...
Volume: 51Issue: 46Published at Mon, 17 Nov 2008 -
GCC Countries To Meet On Gulf Power Grid Project
...oject and to sign a power trading agreement. The $3.9bn project is designed to link GCC members’ domestic power systems by 2011. Speaking in Abu Dhabi on 26 October, Yusuf Ahmad Janahi, chairman of the GCC Interconnection Authority, said Phase 1 of the project, which began in 2001, was 80% complete an...
Volume: 51Issue: 44Published at Mon, 03 Nov 2008 -
Construction Of Burgas-Alexandroupolis Oil Pipeline Delayed By A Year
...oil from Russia. The pipeline is expected to become operational by late 2011, with construction estimated to cost €1bn (MEES, 17 March)....
Volume: 51Issue: 43Published at Mon, 27 Oct 2008