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Egypt’s Economic Woes Compounding: There Is A True Need For Change
...oting the article: “The oil that Egypt exports provides funds for the subsidies that it offers, so reduced exports mean less funds are available for subsidies.” The article predicts that in 2011 Egypt will change from an oil exporting country to an oil importing country. The final outcome is th...
Volume: 54Issue: 07Published at Mon, 14 Feb 2011 -
Competitiveness And Saudi Petroleum Policy
...d raising their productivity, and cost reduction. Global Economy At the request of the agency organizing this forum, I will address today the global oil market in 2011 and touch upon three main points: the global economy, the oil market and the Kingdom’s petroleum policy. I will start with th...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Financial Precursors Of Sustainability Of US Economic Recovery
...nk that foresees “much more lending in 2011.” This is one of those financial precursors for the sustainability of recovery (http://finance.yahoo.com/tech-ticker/bank-ceo-%22quite-optimistic%22-about-2011-%22i-think-you%27ll-see-much-more-lending%22-535742.html?tickers=HBAN,XLF,KRE,FAZ,FITB,KEY,RK...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
OPEC Communiqué: 158th (Extraordinary) OPEC Meeting Concludes
...State and Government held in the Kingdom of Saudi Arabia in November 2007. Having reviewed the oil market outlook, including the overall demand/supply projections for the year 2011, the conference observed that the increase in the annual average oil demand in 2011 is likely to be lower than in...
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Iraq And The Security Of Energy Supplies For Europe
...rridor and Iraq could become an energy bridge between the Middle East, the East Mediterranean and the EU. Finally, the first ever Joint Strategy Paper (JSP) for Iraq is a medium term plan covering 2011-13. The ‘Concept Note’ presents an outline of the JSP main guidelines, and the general focus of EU su...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Sanctioning The Islamic Republic: A New Global Wave
...early 2011. In addition to the verbal assaults and defiant posture, Tehran has also been quietly moving to meet all eventualities. Anticipating new US and Western sanctions, the groundwork has been laid to resist such punishments, or deflect their influence through: (1) stockpiling of ga...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
OPEC Communiqué – 157th Meeting Of The OPEC Conference
...ected HE Masoud Mirkazemi, Minister of Petroleum of the Islamic Republic of Iran and Head of its Delegation, as President of the Conference for one year, with effect from 1 January 2011, and HE Dr Husain al-Shahristani, Minister of Oil of Iraq, as Alternate President, for the same period. The co...
Volume: 53Issue: 42Published at Mon, 18 Oct 2010 -
MENA Energy Investment Outlook: Recovery Despite Uncertainty
...shall provide insight into the key trends and challenges facing energy investments in the Middle East and North Africa (MENA) for the five-year period 2011-15. The context of the review is that of a global demand for energy gradually recovering and of crude oil prices stabilizing within an ad...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
GCC Countries Can Draw Lessons From China’s Exchange Rate Experience
...rprising for the WTI price to pass $100/B in 2011. This reminds us of 2008 when the price reached $147/B in July and inflation in some GCC countries touched 14% and real estate bubbles sizzled. The GCC currencies that are pegged to the dollar became undervalued and revaluation became a necessity to combat im...
Volume: 53Issue: 36Published at Mon, 06 Sep 2010 -
Growing Oil Power Reshaping Iraq's Future
...aq must allocate 40% of total oil revenues in the years 2011-15 and at least 70% from 2016 on to finance the required physical, social, and environmental projects. ...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Rumaila Economics And Its Implications
...oduction capacity comprises the adjusted baseline production and the incremental production. Information available indicates that the work program for 2010 has a budget of $1.7bn and will add 200,000 b/d. In 2011 a budget of $2.5bn will add some 300,000 b/d and by 2012 some 500,000 b/d will have come on st...
Volume: 53Issue: 25Published at Mon, 21 Jun 2010 -
Key Results From The 12th IEF In Cancun
...rst Annual Symposium on these outlooks is planned for January 2011 at the IEF Secretariat, in cooperation with the IEA and OPEC, with participation from the main institutions that publish regular energy outlooks. Facilitating NOC/IOC Cooperation With an investment need of over $25 trillion between no...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
European Spot Gas Prices: A GECF Challenge
...cisions. The same circumstances will continue in 2010 and likely also in 2011. By end-2010 uncommitted LNG quantities are likely to total some 27 bcm of pipeline quality gas, a number that has been reduced by 15 bcm since the beginning of 2010 due to further delays in the start-up of some new LNG trains. Fi...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Condensate Expansion East Of Suez Boosted By Increased Gas Development
...tlook, 2010-15 ('000 B/D) 2010 2011 2012 2013 2014 2015 Iran 624 686 729 783 807 873 Iraq 92 142 167 219 285 319 Kuwait 87 92 105 110 114 11...
Volume: 53Issue: 16Published at Mon, 19 Apr 2010 -
Concluding Statement Of The 12th International Energy Forum
...oking forward to the second NOC-IOC Forum in 2011, it was suggested to attempt to draw up IEF general principles or guidelines on NOC-IOC cooperation, based on best practices around the world, as a possible concrete tool to facilitate this cooperation. Where uncertainty is caused by industry’s pro-cy...
Volume: 53Issue: 16Published at Mon, 19 Apr 2010 -
A Tentative Forecast For Iraq’s Oil Production 2010-20
...enario is indicative: Iraqi Oil Production (Mn B\D) 2010 2011 2012 2013 2014 2015 2016 2.7 3.0 3.5 4.0 4.5 5.5 7.8 These figures are based on achieving the plateaus in the giant fields in the first licensing round as we...
Volume: 53Issue: 06Published at Mon, 08 Feb 2010 -
Iraq’s TSC And PSC Agreements – A Good Deal For Iraq?
...an planned to be operating in 2011. Facilities, pipelines, storage and ports are not yet developed to serve the huge planned oil production. I agree they are not the major issue, which is that the call on Iraq’s crude oil is likely to require much more modest production than the mooted development pl...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Iraqi Capacity Expansion Relative To World Oil Market Trends
...her OPEC countries. In other words, the world would have to live with a combined OPEC additional capacity of over 14mn b/d. Table 1: Production Capacity Estimates According To Contract Timelines (Mn B/D) 2011 2013* 20...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Signals Of A New Floor And Ceiling For Crude Oil Prices
...I And Brent Prices ($/B) WTI Brent 2011 2010 2009 Q409 Q309 2011 2010 2009 Q409 Q3...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009 -
Iraq’s Technical Service Contracts – A Good Deal For Iraq?
...uthern Iraq just to service the projects awarded so far (Rumaila, West Qurna 1 and Zubair) will be a major effort and likely to be much slower than the published aggressive development plans require. These will require several hundred drilling rigs to be operating by 2011. Apart from this challenge, the re...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009