IRAQ. The Ministry of Oil of Iraq has signed an Implementation agreement for the construction under BOO terms of the Refinery of Karbala with RKC (Refinery of Karbala Corporation Ltd.)
The new Refinery will have a daily capacity of 200,000 barrels of Crude Oil and will produce high quality, high octane gasoline (regular and premium) as well diesel fuel for the domestic market.
“Karbala Refinery will be located 100km south of Baghdad on a 6 square kilometer plot of land, and will be the most advanced state of the art refinery with almost full conversion rate and with an estimated cost of
UAE. Two IPOs in Saudi Arabia and one in Iraq in Q1'2013; Asiacell Communications raised US$1.3 billion, according to Ernst & Young's 2013 Q1 MENA IPO update.
UAE. The gas producer renegotiated terms for US$920 million of sukuk last year after payment delays from the two countries, linked to political instability.
IRAQ. US Secretary of State John Kerry pressed Iraq to stop allowing Iranian flights apparently carrying military equipment through its airspace headed to Syria.
INTERNATIONAL. By analysing the potential impact of future carbon constraints driven by global climate change policies, the S&P study shows a deterioration in the financial risk profiles for smaller oil companies that could lead to negative outlooks and downgrades.
INTERNATIONAL. Visitors to the largest broadband event in the Middle East and Africa will gain insight into how emerging markets are progressing despite challenging circumstances.
BAHRAIN. Middle East transactions remained concentrated on Kurdistan, with four of the five biggest deals in the oil-rich region of Iraq; Overall, there were 45 transactions in MENA; The average transaction size decreased from US$3.6 billion to US$2.8 billion.
INTERNATIONAL. OPEC crude oil production fell to 30.45 million barrels of crude oil per day in January, led by a further drop in volumes from Saudi Arabia.
UAE. In light of the oil industry's increasingly challenging business environment, Booz & Company assess the pivotal need for NOCs in the region to link and align all planning disciplines.
SAUDI ARABIA. The oil fundamentals are likely to soften in 2013 as additional supply from Iraq and North America has more impact, the Riyadh-based bank said.
INTERNATIONAL. The United States is moving away from the view that it has the primary responsibility for trying to manage the world on behalf of itself, the Europeans and its other allies. Instead, that burden is shifting to those who have immediate interests involved.
UAE. IMF Regional Economic Outlook Update looks at the implications of the economic roads ahead for the Middle East, North Africa. Afghanistan, and Pakistan (MENAP) region against the backdrop of complex political, social, and economic transitions.
UAE. "Growth may be anemic, but it's not at stall speed, nor likely to be. Bonds are the assets which are trading expensively, and stocks - even after their rally - look much cheaper.
UAE. Low number of IPOs in GCC due to stricter regulatory measures, lack of liquidity and regional unrest in some MENA countries, according to experts from Deloitte Middle East.
UAE. IMF Regional Economic Outlook Update looks at the implications of the economic roads ahead for the Middle East, North Africa. Afghanistan, and Pakistan (MENAP) region against the backdrop of complex political, social, and economic transitions.
SAUDI ARABIA. The eight Saudis, a Lebanese and a Turk bring the number of people arrested to 28, the official SPA news agency quoted the spokesman as saying.
INTERNATIONAL. JPMorgan Chase shareholders Tuesday voted down a shareholder proposal to split the chairman and chief executive roles, handing bank chief Jamie Dimon a big victory.
INTERNATIONAL. Nothing new is coming online anytime soon and movement on developing renewable energy resources has been sadly inadequate. The idea that shale reservoirs will lead the US to energy independence will soon enough be recognized as unrealistic hype.
UAE. IMF Regional Economic Outlook Update looks at the implications of the economic roads ahead for the Middle East, North Africa. Afghanistan, and Pakistan (MENAP) region against the backdrop of complex political, social, and economic transitions.
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