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Political Comment (10 October 2011)
...Middle East Economic Survey VOL. LIV No 41 10-Oct-2011 Political Comment (10 October 2011) Russia and China have vetoed a Security Council resolution that could have led to eventual sanctions on Syria. International pressure has forced the Bahraini authorities to rethink the co...
Volume: 54Issue: 41Published at Mon, 10 Oct 2011 -
Storm Clouds Gather Over Iraqi Oil Development
...erated electricity generation according to institute figures has actually decreased – an average of 4.7gw in June 2011 compared to 4.88gw in August 2009. This is systematic failure rather than that of any one individual and it is the system that needs reforming, argued 'Adnan al-Janabi, head of the pa...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Egypt’s Bid Round Surprises Industry
...nister. “ʹAbd Allah Ghurab is only a caretaker minister,” a government official tells MEES. The closing date for the round is 30 January 2012. The blocks were originally part of a 20-block bidding round scheduled for January 2011, which was cancelled due to the uprising. Most of the blocks have al...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
BP Reveals Fourth Pipeline Option For Shah Deniz 2 Gas
...offering a 55% stake to an international investor, will be completed within October 2011. In related news, Socar President Rovnag Abdullayev once again pressed Ankara to conclude their bilateral gas transit talks, saying that he hoped for the “successful completion of negotiations with Turkey, wh...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Saudi LPG Prices Reduced For October
...tane Change Propane 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 Fe...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Unicorn Claims Former CEO Committed Criminal Offences
...duction in our operating expenses and the realignment of the bank’s operating strategy, leave Unicorn in a strong position to continue to report profitability in 2011.”...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
TAP And Geoplin Sign MOU For Slovenian Gas Pipeline
...e proposed 10 bcm/year capacity Ionian-Adriatic Pipeline (IAP) project, a potential extension of the TAP pipeline that could be built on the premise of a future expansion of TAP’s transit capacity to 20 bcm/y. Since early 2011, TAP has signed a series of similar MOUs with the pipeline system op...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Militants Attack Sinai Gas Infrastructure Again
...rdan had relied on Egyptian gas for 80% of its power generation. Since the disruption of supplies, Jordan has had to switch to heavy fuel oil and its energy import bill during the first half of 2011 rose by 74% to JD1,792mn ($2.527bn)....
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Dana Gas Awaits $200Mn In Payments From Egyptian Government
...uters as saying. “They were $185mn,” he added, “but in the previous month they reached around $200mn.” Dana Gas is the sixth-largest gas producer in Egypt. It produced about 4mn barrels of oil equivalent during the second quarter of 2011, an increase of 6% compared to the same period last year. Du...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Botas Shuts Iran-Turkey Gas Pipeline, NIGC Seeks Compensation
...out a week and that NIGC would examine the possibility of receiving compensation for the interruptions to gas deliveries that occurred throughout 2011. On 25 September NIGC Managing Director Javad Owji had told Iran newspaper that the actual reason behind the Turkish request for technical repairs wa...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
World Bank Urges Iraqi Financial Sector Reform
...eded on a number of fronts, indicates the 244 page-long Republic of Iraq Financial Sector Review, noting that Iraq was last among Arab countries in the survey of Doing Business in the Arab World 2011. Government oil revenues accounted for 60% of the country’s GDP in 2009 and as a result di...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Jordan To Receive $359Mn In US Grants
...operation Ja'far Hasan said, adding that this amount will be transferred before the end of the year. Other allocations cover $48mn for education, $23.5mn for health and $39.8mn for projects to generate jobs and boost trade and investment. Jordan’s budget deficit in 2011 is projected at JD1,160mn ($1,...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Qatar The Fastest Growing Economy Worldwide In 2011, Says QNB Capital
...Middle East Economic Survey VOL. LIV No 40 3-Oct-2011 QATAR Qatar The Fastest Growing Economy Worldwide In 2011, Says QNB Capital Qatar will continue to be the fastest growing economy worldwide in 2011 with an estimated real GDP growth of 21%, according to QNB Capital. No...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Syria Bans Some Imports To Preserve Foreign Exchange
...serves. After six months of political unrest and street violence that has left more than 2,700 dead, and a raft of US and EU sanctions, the economy has begun to show signs of weakness and decline. According to latest IMF projections, the Syrian economy is set to shrink by 2% in 2011, after growing at 3....
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
EU Announces More Restrictions On Syria’s Oil Industry
...terprises in Syria that are engaged in the Syrian oil industry sectors of exploration, production or refining and with any subsidiary or affiliate under their control.” Syria produced an average of 387,250 b/d of crude oil and 30.28mn cmd of gas in the first half of 2011 (MEES, 8 August). Shell and To...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Dubai Plans Major Solar Power Plant
...cretary-General and CEO Najib Za'frani added: “It will be big enough to accommodate this 5% target.” DEWA is aiming to raise Dubai’s power generation capacity to almost 10gw by the end of 2011, but electricity demand is rising rapidly and last year increased by 9.6% rather than the forecast 6% (ME...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Political Comment (3 October 2011)
...Middle East Economic Survey VOL. LIV No 40 3-Oct-2011 POLITICAL COMMENT Political Comment (3 October 2011) Israel has responded to the Quartet's attempt to revive peace negotiations with a fresh round of settlement construction. Egypt's political parties are threatening to bo...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
MENA Energy Investment: Broken Momentum, Mixed Outlook
...ncurrently in APICORP’s ‘Economic Commentary’ dated September-October 2011. The views expressed are those of the author only. Comments and feedback may be sent to: aaissaoui@apicorp-arabia.com. As usual during this period of the year, our commentary presents APICORP’s main findings of its rolling five-ye...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Libyan Rebels Eye Formation Of Interim Cabinet
...tities frozen as of 16 September 2011 remain frozen, but they are no longer subject to prohibitions and can therefore conduct new transactions. Resolution 2009 (2011) directs the UN Sanctions Committee, in consultation with the Libyan authorities, to review continuously the remaining sanctions for the CB...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Turkey Reacts As Noble Starts Drilling Offshore Cyprus
...art of drilling has no connection with the long running talks between the two sides. It instead marks the next phase of the Cyprus/Noble PSA, which stipulated that a well be drilled by October 2011. The latest phase of the contract was signed in Nicosia prior to the start of drilling. In New York Mr...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011