1. Saudi Aramco Raises Propane Price, Reduces Butane

    ...opane Butane Change Propane Butane 2009 1 Jan 380.00 380.00 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 1 Feb 505.00 50...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  2. Crude Oil Formulas/Posted Prices

    ...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B)         2011 2010 Oct Sep Aug Jul Jun May Apr Mar Fe...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  3. Bahrain SWF Will Hold $275Mn By End-2011

    ...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Bahrain Bahrain SWF Will Hold $275Mn By End-2011 Bahrain’s Future Generations Reserve Fund (FGF) will have accumulated $275mn by the end of 2011, according to projections by the Bahraini Ministry of Finance. The so...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  4. Moody’s Reaffirms Negative Outlook For Bahrain Banking System

    ...d 3% for 2011 and 2012 respectively, representing a dip from the 4.5% growth posted in 2010 and the 6-8% growth achieved during 2006-08. “Given our growth forecasts, asset quality pressures are likely to increase, particularly for loans originated to the tourism and retail trade sectors where the po...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  5. Finance Minister Survives Impeachment Vote

    ...ency reported on 30 October. The report said the company’s financial assets had increased in value from $50,000 in 2005 to almost $3.5bn in 2011. Mr Amir Khosravi has reportedly flown to Montreal. Former Melli Bank chairman Mahmoud Reza Khavari, who is at the center of the scandal, later flew to To...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  6. Iran Plans Electricity Interconnection With Russia

    ...id that during the first half of the current Iranian year (21 March 2011 – 20 March 2012) Iran’s power exports to neighboring countries amounted to 4bn kwh. “Iran currently exchanges electricity with Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan, and Iraq,” Mr Behzad said. “Th...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  7. Israel Contracts Italy’s Micoperi For Offshore LNG Terminal

    ...rst three quarters of 2011 more than doubled from the same period during 2010 to 358,000 tons. During the third quarter alone, IEC burned some 307,000 tons. By the end of 2011, Israel’s gasoil demand is expected to reach 600,000 tons and account for 15% of the electricity generated. The Ministry of...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  8. Political Comment (7 November 2011)

    ...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 Political Comment (7 November 2011) The Syrian government's acceptance of an Arab League plan to end its confrontation with domestic opponents has met a sceptical reception. Libya has a new prime minister. The Palestinians ha...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  9. Global And MENA Energy M&A: An Investment Of Choice Or Of Last Resort?

    ...rporation (APICORP) dated November 2011. The authors are respectively Deputy General Manager and Senior Consultant at APICORP. The views expressed are theirs only. Comments and feedback may be sent to aaissaoui@apicorp-arabia.com. The recent wave of large-scale mergers and acquisitions (M&A) in North Am...

    Volume: 54
    Issue: 45
    Published at Mon, 07 Nov 2011
  10. EU To Discuss Turkish Position On Cyprus Offshore At December Summit

    ...ly aircraft carrier to the east Mediterranean in November. Turkey’s Stalled EU Membership Turkey is an applicant for EU membership but has made little progress since accession talks opened in October 2005. In its Key Findings Of The 2011 Progress Report On Turkey, released on 12 October, the Eu...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  11. Crude Prices Gain On Better US Data, European Move To Address Debt Crisis

    ...ve averaged just under 18.8mn b/d, down by 0.7% compared to the similar period last year. The average world crude oil price on 21 October was $108.84/B, $2.51/B more than last week’s price and $29.49/B above a year ago. Settlement Prices For Benchmark Crudes ($/B) Date 2011 Ny...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  12. CGES: Oil Prices Stay ‘Stubbornly High’ Despite Sluggish Demand Growth

    ...e unexpectedly high rates of oil demand growth in 3Q and 4Q10,” CGES said, while OPEC failed to replace the oil lost as a result of the Libyan unrest quickly enough. And in addition to this, the report highlights that non-OPEC oil producers have been faced by a range of problems in 2011 which ha...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  13. Algerian Draft Budget Projects Lower Spending In 2012

    ...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 ALGERIA Algerian Draft Budget Projects Lower Spending In 2012 The Algerian draft budget for 2012 projects a 10.2% fall in expenditure compared to the 2011 supplementary budget which had raised total expenditure from the or...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  14. Dragon Oil To Hike Production 50% By 2015

    ...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 CASPIAN Dragon Oil To Hike Production 50% By 2015 Dragon Oil announced on 24 October that it will produce 70,000 b/d of crude by the end of 2011. It then plans to invest another $1bn over a four year period in order to re...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  15. Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan

    ...th imports having averaged 240mn cfd prior to the start of the disruptions. According to the BP Statistical Review of World Energy 2011, Jordan imported from Egypt in 2010 a total of 2.52 bcm of gas. The agreement with Jordan is retroactive to January 2011 and gives Egypt the right to reconsider th...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  16. Egypt Restarts Loan Discussions With IMF, Waits On Further Arab Aid

    ...cal debts would negatively affect both the country’s balance of payments and its budget deficit. Egypt’s deficit is now forecast to hit 8.6% of GDP in fiscal 2011-12, exceeding pre-revolution estimates. That said however, the IMF is yet to receive an official request from Egypt. “We have not re...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  17. New Government In Jordan 

    ...Jordan. Mr Bakhit, who was appointed Prime Minister in late January 2011, had to resign after a wave of street protests against his government. Cabinet changing for King 'Abd Allah of Jordan is a frequent phenomenon, which he resorts to when public pressure from political groups in society intensifies.  ...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  18. US Grants Jordan $300Mn In Aid

    ...rvices and financial sectors aimed at creating job opportunities and introducing economic reforms. Jordan has projected a budget deficit of JD1.16bn ($1.63bn) for 2011 and any foreign aid it receives during the year will be necessary to lower this deficit (MEES, 5 September).   ...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  19. Lebanese Finance Minister Sees Debt Rising To $60Bn

    ...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 Lebanon Lebanese Finance Minister Sees Debt Rising To $60Bn Lebanese Minister of Finance Muhammad Safadi has warned that the country’s public debt would grow to $60bn by the end of 2011, up from $52.6bn at the end of June, bu...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  20. Omani Public Spending To Rise Yet Again In 2012

    ...owth in the region of about 10% for 2011,” he said. Latest official figures released by the Omani Ministry of National Economy meanwhile have revealed an increase of around 77% in Oman’s fiscal surplus in the first eight months of this year relative to last year’s corresponding period. Driven bo...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011