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Economic Development Of The MENA Petroleum Producing Countries
...oduction, but will definitely peak and start to decline in 10-20 years. In 2011, the oil and gas revenues in the MENA region will be close to $1 trillion. While $100bn, just 10%, will be spent on petroleum industry projects, the remaining $900bn will fund the fiscal budgets of the producing countries. If...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Rhetoric Versus Reality
...e author and do not represent those of the Iranian Ministry of Petroleum. High oil prices have been blamed as one of the factors preventing global economic recovery. Some analysts argue that the 8 June 2011 OPEC Ministerial Conference’s lack of an agreement to increase the production ceiling ca...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
MENA And Carbon Capture
...Middle East Economic Survey VOL. LIV No 31 1-Aug-2011 MENA And Carbon Capture By Robin M. Mills Mr Mills is a Dubai-based energy economist, and author of Capturing Carbon (Hurst/Columbia University Press, 2011) and The Myth of the Oil Crisis (Praeger, 2008). He can be re...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
OPEC’s Game With No Loser
...mand for OPEC oil was estimated by the OPEC Secretariat at 30.9mn b/d for 3Q11 and 30.5mn b/d for 4Q11. If OPEC continues its production at 28.8mn b/d for the rest of 2011, the market will face a shortage of 2.1mn b/d in 3Q11 and 1.7mn b/d in 4Q11. Also, OPEC should compensate for the Libyan oil sh...
Volume: 54Issue: 30Published at Mon, 25 Jul 2011 -
SPR Releases Are Not A Good Pricing Policy Tool
...rengthening in economic recovery in the United States and other regions in the coming future quarters despite the current weakness. The false report on the US job market, which was released on Thursday 6 July 2011 before the official non-farm employment report released on the next day, contributed to the 2....
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
Statement Of The Oil And Energy Committee Of The Council Of Representatives On The Oil And Gas Contracts
...Middle East Economic Survey VOL. LIV No 29 18-Jul-2011 Statement Of The Oil And Energy Committee Of The Council Of Representatives On The Oil And Gas Contracts The Council of Representatives, Baghdad, Iraq, 2 July 2011. Translated by Iraq Energy Institute. The Ministry of Oil ha...
Volume: 54Issue: 29Published at Mon, 18 Jul 2011 -
A Realistic Outlook For Iraq's Oil Production In 2030
...tlook to 2030, which was prepared at the beginning of 2011, Iraq’s crude oil production is envisaged to rise to 4.5mn b/d in 2020 and 5.5mn b/d in 2030. Nonetheless, BP has announced that among the countries whose production capacity is projected, the biggest uncertainty is related to Iraq. This is at...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
One Hundred Days In The Iraqi Oil Industry
...st 100 days (ending 1 June 2011) as compared to previous rates. A 19% increase in the export rates of Iraq. This article includes analysis of actual production figures from the southern fields comprising over 75% of the country’s production and export. The figures for the 100 da...
Volume: 54Issue: 26Published at Mon, 27 Jun 2011 -
Iran’s Subsidy Reform: A Progress Report
...jor cities, no general strikes, no run on the banks and no panic buying. There was not even a commensurate reaction from the Majlis, whose main “intent and purposes” in the law were literally ignored by the government. A poll, conducted by the Majlis Research Center in March 2011, in fact sh...
Volume: 54Issue: 25Published at Mon, 20 Jun 2011 -
Financing MENA Energy Investment In A Time Of Turmoil
...ICORP’s Economic Commentary dated June-July 2011. The views expressed are those of the author only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com In the last Commentary from April, published in MEES’s Energy & Geopolitical Risk, we examined the extent unfolding events within ME...
Volume: 54Issue: 24Published at Mon, 13 Jun 2011 -
The Forthcoming Exploration Blocks Bid Round In Iraq: Issues For Consideration
...s own development consultancy and research firm. (Email: mou-jiya@online.no). Introduction And Background The Ministry of Oil deferred the holding of the exploration blocks bid round, a fourth bid round in a row, from November 2011 to January 2012. The event would offer 12 exploration blocks fo...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Iraq’s Upstream Oil Contracts, 2011 And Beyond
...Middle East Economic Survey VOL. LIV No 22 30-May-2011 Iraq’s Upstream Oil Contracts, 2011 And Beyond By Asri Mousa Mr Mousa is an independent expert on Iraqi oil and gas. He obtained his first and master's degrees in process en...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Jordan And Morocco Are Not The Best Economic Matches For The GCC
...e estimated to have in 2011 a government budget deficit in excess of 5%, a current account deficit to GDP ratio greater than 6% and an unemployment rate of more than 10% (in fact, 14% for Jordan). To put these numbers in perspective, any of the ratios of GDP that exceed more than a 4% deficit ra...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
IEF Statement: 4th Asian Ministerial Energy Roundtable
...rly March 2011, hoping that Japan will overcome this tragedy and recover soon. To show the solidarity with Japan, the State of Kuwait upon the guidance of His Highness the Amir, Shaikh Sabah al-Ahmad al-Sabah, the Cabinet Ministers have decided to contribute 5mn barrels of crude or by-products to...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
INOC Law: Shaky Premises And Doubtful Prospect
...fferent from the term “holding company”, which was used in the INOC law that was approved by the Council of Ministers on 28 July 2009 and sent to the Parliament and, thus supposed to be the one that has gone through the first reading on 31 March 2011. But the currently circulated draft for FOGL uses al...
Volume: 54Issue: 20Published at Mon, 16 May 2011 -
WEF’s Repowering Transport Project – Review And Implications
...ICORP’s Economic Commentary dated May 2011. The author wishes to state that there is no conflict of interest arising from this review and that the opinions expressed reflect his personal views only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com On 4 April the World Economic Fo...
Volume: 54Issue: 18Published at Mon, 02 May 2011 -
IEF Statement: Extraordinary IEF Ministerial Meeting
...February 2011 in a historic Extraordinary IEF Ministerial Meeting to approve and sign the IEF Charter, discuss current and future energy marketsand celebrate the 20th anniversaryof the producer-consumer dialogue that started in 1991 in Paris, France. The IEF charter marks a new era of in...
Volume: 54Issue: 16Published at Mon, 18 Apr 2011 -
OPEC's Response To Currency Conflicts
...asons for maintaining its current production. 4 These reasons include expectation of lower demand growth in 2011 than in 2010 coupled with the fragility of global economic recovery, and especially fears of a second banking crisis in Europe, all of which would negatively impact on oil demand and ma...
Volume: 54Issue: 14Published at Mon, 04 Apr 2011 -
Towards A New Egyptian Oil Policy After 25 January 2011
...Middle East Economic Survey VOL. LIV No 12 21-Mar-2011 EGYPT Towards A New Egyptian Oil Policy After 25 January 2011 By Hussein Abdallah Dr Abdallah is an energy consultant based in Cairo, Egypt. What shouldthe new oil minister do after the 25 January revolution? Nothing mo...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Fiscal Break-Even Prices: What More Could They Tell Us About OPEC Policy Behavior?
...ICORP). It is published concurrently in APICORP’s Economic Commentary dated March 2011. The views expressed are those of the author only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com. As markets currently operate, oil producers’ fiscal policies are unarguably not a key de...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011