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MENA Defense Spending Remained At High Levels In 2007, IISS Report Shows
...arches must be in coordination with the Iraqi government; US forces would withdraw from Iraqi cities and towns to specified bases by 30 June 2009; and that US forces will have to complete their final withdrawal from Iraq by 31 December 2011. Several factors contributed to the improving security co...
Volume: 52Issue: 11Published at Mon, 16 Mar 2009 -
Saudi Aramco Looks To Gulf Offshore For Gas Boost
...celerated”, allowing for some production to come on stream in October 2011, but the majority of the gas capacity is not likely to be on stream before 2012. According to last year’s Annual Review, Saudi Aramco’s total raw gas output will be boosted from 8bn cfd in 2007 to 13bn cfd by end-2011 (MEES, 2 Ju...
Volume: 52Issue: 10Published at Mon, 09 Mar 2009 -
UAE Embarks Upon Budget Reform
...Middle East Economic Survey VOL. LII No 10 9-Mar-2009 UAE UAE Embarks Upon Budget Reform The UAE has embarked upon a plan to reform its federal budget, and plans to adopt what is described as a “zero-based” regime from 2011. Currently incremental budgeting is used, where di...
Volume: 52Issue: 10Published at Mon, 09 Mar 2009 -
Political Comment (9 March 2009)
...Middle East Economic Survey VOL. LII No 10 9-Mar-2009 Political Comment (9 March 2009) The US will be out of Iraq altogether by the end of 2011, according to the timetable announced by President Barack Obama. On her first visit to the region, Secretary of State Hillary Clinton ha...
Volume: 52Issue: 10Published at Mon, 09 Mar 2009 -
Sonatrach Signs Gas Sales Agreement With Orascom, Despite Supply Concerns
...ailability of natural gas feedstock. State-owned energy firm Sonatrach last week signed a 20-year sales-purchase contract with Egypt’s Orascom Construction Industries (OCI) to supply 1.7 bcm/year of gas to the ammonia/urea plant that the two companies are developing there from 2011. The plant will have a pr...
Volume: 52Issue: 09Published at Mon, 02 Mar 2009 -
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 -
Technip Wins Midor Coking Unit Contract, But Egypt’s New Refinery Plans Stall
...nuary). The new facilities at Musturud, which will produce 2.2mn tons/year of diesel and 700,000 t/y of high octane gasoline, were originally due on-stream in 2011, but this date is now expected to slip. For some years, Egypt has been seeking to exploit its strategic geographical location between Eu...
Volume: 52Issue: 07Published at Mon, 16 Feb 2009 -
Libya’s Exploration Drive Falters
...ogram to Libya’s National Oil Corporation (NOC) in November, which if approved, could bring some of these discoveries on-stream by 2011 at an initial rate of 50,000 b/d of oil and 50mn cfd of gas (MEES, 15 December 2008). But the block, which Verenex acquired in the first EPSA-4 bid round, is in the Gh...
Volume: 52Issue: 06Published at Mon, 09 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 -
Delay Pays Dividends For Abu Dhabi’s SAS Development
...fshore Umm al-Lulu field, operated by ADMA-OPCO, or an expansion of around 50,000 b/d at ADCO’s Bab field, where capacity is currently around 320,000 b/d. The ExxonMobil-led project to expand capacity at the offshore Upper Zakum field from 550,000 b/d in 2006 to 750,000 b/d by 2011 has hit hurdles am...
Volume: 52Issue: 05Published at Mon, 02 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 -
Saudi Arabia Further Revises Project Schedule
...nifa project has been more substantially delayed, with contractors asked to go away and come back with better offers. A 2011 start-up for this is now out of the question. Similarily Saudi Aramco has held up the award of some of the construction contracts for the 1.5bn cfd Karan offshore gas development in...
Volume: 52Issue: 04Published at Mon, 26 Jan 2009 -
Construction Of Citadel’s Egypt Refinery Delayed By Financial Crisis
...ecifications. Previously, this residue had been sold as heavy fuel oil for use in Egypt’s power stations, but these have been converted to gas. With capacity to produce 2.2mn tons/year of diesel and 700,000 t/y of other products, the refinery was originally expected to start up in 2011 (MEES, 29 October 20...
Volume: 52Issue: 04Published at Mon, 26 Jan 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 -
Algeria Facing Gas Supply Squeeze As Export Projects Unfold
...rgets. The LNG projects that Dr Feghouli was referring to are the 4.5mn tons/year plant at Skikda, being built by US firm KBR, and a 4.7mn t/y plant at Arzew, for which a joint venture between Italy’s Snamprogetti and Japan’s Chiyoda won the contract last July. They are due for completion in November 2011...
Volume: 52Issue: 02Published at Mon, 12 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