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Saudi Arabia Plans To Open Stocks To Foreign Investment
...vestment. There were reports late in 2010 that foreigners would be let in as early as the first half of 2011, but at the time analysts said that it would take much longer to complete the studies and develop a plan. “I think the timing will be influenced by market conditions. They won’t want to do it if th...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Outlook Hazy For MENA Project Financing
...Middle East Economic Survey VOL. LIV No 52 26-Dec-2011 MEES Agenda Outlook Hazy For MENA Project Financing With the global financial crisis in the rearview mirror, hopes had been high that 2011 would be an even better year for the financing of MENA energy projects than 20...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
OPEC Finds ‘Unity Of Purpose’ In Vienna, Says CGES
...ming months.” CGES Global Supply/Demand Balance (Mn B/D) 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 2010 2011 2012 World Oil Demand 88.8 89.3 89.0 87.7 89.4 90...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 52 26-Dec-2011 Crude Oil Formulas/Posted Prices ($/B) Libya (Dated Brent + / - Adjustment Factor; $/B) 2012 2011 2010 Jan Feb Jan Dec Nov Oc...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
TAP Open To Shareholder Restructuring After Shah Deniz 2 Decision
...at Azerbaijan’s state firm had reached an agreement with Russia’s Gazprom over the further expansion of Azeri gas exports to 3 bcm/y in 2012. In November 2011 Russian imports reached a rate of 1.36 bcm/y, a 70% increase over the same time last year. Imports are expected to increase at a rate of 2 bc...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...PC) and soft loans from the Chinese Development Bank. An intergovernmental agreement on the export of Uzbek gas to China was signed in 2010 while the commercial agreement between PetroChina and Uzbekneftegaz was initialed in October 2011. The agreement stipulates that gas exports will start at 10...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Iran Admits To Fall In Oil Output As EU Discusses Crude Embargo
...lebani as saying on 19 December. Though he chose not to provide any figure for the fall in output, MEES estimates show that average production in Iran has dropped from 3.737mn b/d in 2010 to 3.599mn b/d in 2011. Mr Qalebani’s revelation is the latest in a line of warnings from Iranian officials in re...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...d public finances next year. Dr Tuqan noted that as of the start of 2011, Jordan had encountered more challenges with the rise in the international price of basic commodities, especially energy and foodstuffs, and the irregular supply of natural gas from Egypt. In addition the political turmoil in...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Syrian Parliament Approves 2012 Budget Bill
...ice assumption of $75/B for Syrian light crude and $65/B for heavy crude. The steep increase in public spending of 58.8% over 2011 is due to a change in the accounting system with regard to the classification and logging of expenditure, the Syrian Minister of Finance Muhammad Jleilati explained la...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
APICORP Signs Deal For Fujairah Storage Terminal Financing
...untries. APICORP is a multilateral development bank owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), with the UAE government holding a 17% stake. Mr Nuaimi said: “In 2011, APICORP has participated in $11bn worth of project finance and trade transactions, of...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Political Comment (26 December 2011)
...Middle East Economic Survey VOL. LIV No 52 26-Dec-2011 Political Comment (26 December 2011) Iraqi Prime Minister Nuri al-Maliki has moved against two of the most senior Sunnis in his government. The Syrian authorities have accepted the Arab League's plan to end their violent co...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Peace Breaks Out In Vienna
...en downgraded by some 290,000 b/d and OPEC actually sees the appetite for its crude at some 140,000 b/d weaker than in the last report at 29.76mn b/d (see table). OPEC’s Summarized Oil Supply/Demand Balance For 2011 (Mn B/D) 2010 1Q11 2Q11 3Q11 4Q...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Qatar’s Barzan Becomes World’s Largest 2011 Project Financing
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Qatar’s Barzan Becomes World’s Largest 2011 Project Financing When the loan agreements were signed on 13 December for Qatar’s $10bn Barzan gas facility, it became the largest project financing to be completed in the world th...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
IEA Cuts Global Crude Demand Forecast Amid Worsening Economy And High Prices
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 IEA Cuts Global Crude Demand Forecast Amid Worsening Economy And High Prices The International Energy Agency (IEA) has in its latest monthly Oil Market Report (OMR) trimmed its global crude oil demand forecast for 2011 and 20...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
China’s Crude Oil Imports Rise To 22.69Mn Tons In November, Second Highest On Record
...nuary-November 2011 period, China has imported a total of 230.26mn tons (5.03mn b/d). China’s Crude Oil Imports 2010-11 2011 2010 2010 Imports Nov Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Jan Dec Nov Oct Sep Aug Jul Ju...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Bapco’s Board Approves Plan To Boost Sitra Refinery Capacity To 450,000 B/D
...ve said that the detailed engineering study for the proposed pipeline is to be revealed by Saudi Aramco before the end of 2011. Bahrain Draws Up Plans To Deal With Gas Shortage Bahrain is also drawing up plans to avoid a potential future gas shortage. In the first quarter of 2012 it expects to...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Saudi Arabia Tops WEF Financial Development Index For MENA
...Middle East Economic Survey VOL. LIV No 51 19-Dec-2011 REGIONAL Saudi Arabia Tops WEF Financial Development Index For MENA Saudi Arabia topped the World Economic Forum’s 2011 Financial Development Index for the MENA countries, jumping three spots and climbing above Bahrain and th...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
AMF Says Priority Is To Assist Arab Countries Rather Than Europe
...nkers in Abu Dhabi. Mr Manna'i also warned that oil prices could drop because of weak economic growth in the world and this will mean that Arab countries would not be in a position to help Europe. Egypt is expecting to receive $470mn in loans in 2011 from the AMF to support its budget deficit. And in...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Suncor And Gulfsands Withdraw From Syria
...idance for 2011 and 2012 because Libyan production is ramping up and was not included in the existing guidance. Suncor and GPC are 50:50 partners in the Ebla Petroleum Company, which is developing the Ash-Shaer and the Cheriffe gas fields in the Syrian central gas basin for supply to the domestic ma...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011