Iraq’s Regions Look To Reap Rich Oil Dividend

Iraq’s Regions Look To Reap Rich Oil Dividend Iraq’s Regions Look To Reap Rich Oil Dividend

Algeria Unveils 2010 Budget With 12.9% Increase In Expenditure

Algeria Unveils 2010 Budget With 12.9% Increase In Expenditure Algeria Unveils 2010 Budget With 12.9% Increase In Expenditure

OPEC Report Highlights Necessity Of Tight Quota Discipline

OPEC Report Highlights Necessity Of Tight Quota Discipline OPEC Report Highlights Necessity Of Tight Quota Discipline

Gulf Bond Issuers Spooked By Greek Debt Woes

Gulf Bond Issuers Spooked By Greek Debt Woes Gulf Bond Issuers Spooked By Greek Debt Woes

Political Comment(15 February 2010)

Political Comment(15 February 2010) Political Comment(15 February 2010)
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S&P Downgrades GFH After $100mn Loan Extension
February 15, 2010 – 12:03 am | Comments Off

Bahrain-based Islamic investment firm Gulf Finance House (GFH) has successfully struck a deal to delay the repayment of one third of a $300mn loan by six months, narrowly avoiding a default, it said 10 February. …

2010 A Bridge Between 2009 Demand And 2011 Supply, Says Barclays Capital
February 15, 2010 – 12:03 am | Comments Off

2010 is expected by Barclays Capital to be a bridging year between demand-side weakness of 2009 and supply-side tightness in 2011. In its Global Energy Outlook published on 8 February, Barclays Capital forecast the price …

EIA Sees Improving Global Oil Outlook In 2010-11
February 15, 2010 – 12:03 am | Comments Off

The Energy Information Administration (EIA) of the US Department of Energy said the world oil market “should gradually tighten in 2010 and 2011, as the global economic recovery continues and world oil demand begins to …

IEA Revises Global Crude Oil Demand Upward For 2009 And 2010
February 15, 2010 – 12:03 am | Comments Off

The International Energy Agency (IEA) revised its global demand forecast up by 50,000 b/d for 2009 and by 170,000 b/d for 2010 in its latest Oil Market Report (OMR), released on 11 February. “More robust …

WTI Recovers To Mid $70-80/B Range After EU Pledge To Greece, Forecast Higher Demand
February 15, 2010 – 12:03 am | Comments Off

The price of WTI recovered during the week to settle above $75/B on 11 February. Heavy snowfall in the US led to the closure of Federal government offices and the delay of the Weekly Petroleum …

Kuwait’s Central Bank Cuts Discount Rate To 2.5%
February 15, 2010 – 12:03 am | Comments Off

The Central Bank of Kuwait (CBK) cut its key discount rate by 50 bps to 2.5% on 7 February. The bank has cut its key rate by 200 bps since October 2008, with the previous …

BP Makes Risha Bonus Payment Of $20Mn To Jordan
February 15, 2010 – 12:03 am | Comments Off

BP has transferred a bonus payment of $20mn to the Jordanian government as per its agreement to develop the Risha gas field signed last October, following the ratification of the agreement by King ‘Abd Allah …

Israel’s ORL Secures $900mn In Financing
February 15, 2010 – 12:03 am | Comments Off

Haifa-based Oil Refineries Limited (ORL), which operates Israel’s largest oil refinery, has secured a $900mn financing framework with which to implement its strategic plan and service capital needs over the next four years, ORL said …

Zion To Resume Ma’anit Rehoboth Well Testing
February 15, 2010 – 12:03 am | Comments Off

Israel’s Zion Oil and Gas is to resume test production by the end of February on the Ma’anit Rehoboth-2 well on its Joseph exploration tract in northeastern Israel, which the company completed drilling in September …

Iranian Gas Consumption Reaches New Weekly Peak
February 15, 2010 – 12:03 am | Comments Off

National Iranian Gas Company (NIGC) Managing Director Javad Oji was quoted by the Ministry of Petroleum’s PIN news service on 6 February as saying that Iranian gas consumption had reached a new weekly record high of …