1. Federal Oil And Gas Law: Viability, Coherence And Functioning Perspectives

    ...tween the federal and Kurdistan Regional Government (KRG) delegations held in Baghdad in the last days of October 2011 resulted in an agreement to base their discussions over the federal oil and gas law on the February 2007 version. Detailed assessments of the February 2007 draft of the law have be...

    Volume: 54
    Issue: 51
    Published at Mon, 19 Dec 2011
  2. OPEC Communiqué: 160th Meeting Of The OPEC Conference Concludes

    ...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 OPEC Communiqué: 160th Meeting Of The OPEC Conference Concludes Vienna, Austria, 14 December 2011 The 160th meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Vienna, Au...

    Volume: 54
    Issue: 51
    Published at Mon, 19 Dec 2011
  3. Why Iraq’s Numbers Never Add Up: Solving The Mystery

    ...o decades, and is now old enough to require new control systems and massive revamps (if not outright replacement). The dramatic bomb attack on Baiji in early 2011 did not damage the hydrocracker itself, but did extensive damage to the hydrogen manufacturing plants, thereby taking the hydrocracker do...

    Volume: 54
    Issue: 50
    Published at Mon, 12 Dec 2011
  4. Explanations Of The Recent Higher Oil Prices

    ...planation of the current price of nearly $100/B. Another explanation is strong economic growth in China, the fastest growing economy in the world, which may soon exceed 10%. China is consuming more than 10mn b/d of oil in 2011. It is expected to consume close to 12mn b/d in the next two years, an ex...

    Volume: 54
    Issue: 49
    Published at Mon, 05 Dec 2011
  5. The Threats To Oil Market Stability

    ...not solved yet. The economic data released in the United States is not promising. US Federal Reserve officials now expect the US economy to grow by a tepid 2.5-2.9% next year, down from the rosier 3.3-3.7% which was expected in June 2011. They see the unemployment rate going no lower than 8....

    Volume: 54
    Issue: 48
    Published at Mon, 28 Nov 2011
  6. Iraq’s Challenges On Its Path Toward A World Class Gas Industry

    ...mpany and the Ministry of Oil. He retired in early 2011 and is now an independent oil and gas advisor. Historic Background Of Iraq’s Gas Sector No attempts were made by foreign companies to utilize associated gas when oil production started in Kirkuk in the 1930s, and then in Basra in the early 19...

    Volume: 54
    Issue: 47
    Published at Mon, 21 Nov 2011
  7. JODI And Oil Price Determination

    ...n refer to the Saudi Arabian decision to step up output in order to fill the supply gap that was created due to the stoppage of Libyan production – the standpoint of Saudi Arabia at the 159th meeting of OPEC in June 2011. This was complemented two weeks later by the IEA’s plan for release of 60...

    Volume: 54
    Issue: 46
    Published at Mon, 14 Nov 2011
  8. 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
  9. Relations Between Iran And Syria And The Impact Of The Syrian Crisis

    ...an manages the Syrian crisis?’, 23 July 2011: (http://www.alarabiya.net/views/2011/07/23/158958.html). 2. Iraq was forced to build new pipeline in Turkish territory to the Mediterranean to avoid dependence on Syria. Turkey’s position was strengthened by the controversy between Arabs. 3. Sy...

    Volume: 54
    Issue: 44
    Published at Mon, 31 Oct 2011
  10. Hydrocarbon Reserves Of Iraq

    ...ptember 2011, remains a dream for a while due to its cost. The main target here is the equivalent of the Khuff Formation that is gas prone in the Gulf area. New exploration in a fifth round or by OEC looks limited given the absence of strategy. Following a request from the director-general of OEC to th...

    Volume: 54
    Issue: 43
    Published at Mon, 24 Oct 2011
  11. The Global Financial Crisis Discloses Dysfunctional Distribution Of Income In Developed Economies

    ...e agenda of the European Council of Economic and Financial Affairs since March 2011 for imposition of penalties and close oversight, but the damage is already in the financial system and in the confidence of European citizens across member states. Before governments, central banks, po...

    Volume: 54
    Issue: 43
    Published at Mon, 24 Oct 2011
  12. 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: 54
    Issue: 40
    Published at Mon, 03 Oct 2011
  13. A Review Of Greg Muttitt’s ‘Fuel On The Fire’

    ...w. It will need more books like this and, more critically, books in Arabic and by Arabs. Notes 1. G Muttitt, ‘Fuel on the Fire – Oil and Politics in Occupied Iraq’, Random House, April 2011 (for further details e-mail author at info@fuelonthefire.com). 2. R Springborg,’ Oil and Democracy in Ir...

    Volume: 54
    Issue: 39
    Published at Mon, 26 Sep 2011
  14. Fluctuations In The Gold Price And Its Relation To Oil Markets

    ...e world’s central banks to become net buyers. The World Gold Council announced in its recent report that the world’s central banks have in the first five months of 2011 purchased 155 tons of gold ,valued at $18.8bn, which is more than the total amount of gold they purchased in 2010. Currently, 6....

    Volume: 54
    Issue: 39
    Published at Mon, 26 Sep 2011
  15. What Happens In Europe May Not Stay In Europe: Fear Of A US Recession

    ...mmousm@drexel.edu. Fears of a developing sovereign debt crisis in Europe started in late 2009, but the situation became particularly tense in early 2011. ‘Crisis Europe’ included Eurozone members Greece, Ireland and Portugal and also some European Union (EU) countries from outside the Eurozone. In the EU, pa...

    Volume: 54
    Issue: 37
    Published at Mon, 12 Sep 2011
  16. The Dawn Of A New Energy Era

    ...Middle East Economic Survey VOL. LIV No 37 12-Sep-2011 The Dawn Of A New Energy Era By Vahid Fotuhi Mr Fotuhi is Chairman of the Emirates Solar Industry Association (ESIA). The year 2011 has been memorable for the Middle East. But while all the media attention has been fo...

    Volume: 54
    Issue: 37
    Published at Mon, 12 Sep 2011
  17. From Glass Box To Smoke-Filled Room: How Rumaila Contract Was Renegotiated

    ...e Problems? Whatever their view of the bid rounds, Iraqi oil experts were almost unanimous in criticizing the production levels the contracts set – both for their impact on the oil price and for being unrealistic given the state of Iraqi infrastructure. During the course of 2011, the Ministry of...

    Volume: 54
    Issue: 36
    Published at Mon, 05 Sep 2011
  18. Why Did The IEA Withdraw Oil From Strategic Reserves?

    ...e OPEC Secretariat presented a market report predicting a rise in world demand for OPEC oil from 28.8mn b/d in the second quarter of 2011 to 30.9mn b/d in the third quarter. Saudi Arabia, backed by Kuwait, the UAE and Qatar called for a 2mn b/d hike in production to fill the gap, so as to cap ri...

    Volume: 54
    Issue: 35
    Published at Mon, 29 Aug 2011
  19. Iraq Energy Institute Report On The South Gas Project

    ...ficially was asked by Iraq’s Parliamentary Oil and Energy Committee to assess the South Gas Project, for which an agreement is expected to be signed between the Iraqi Government and the consortium of Shell and Mitsubishi. The report is dated 31 July 2011 and is based on the summary document submitted by...

    Volume: 54
    Issue: 34
    Published at Mon, 22 Aug 2011
  20. 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: 54
    Issue: 33
    Published at Mon, 15 Aug 2011