MEED
Issue No 02 9 - 15 January 2009
View all stories from this issue.
-
Abu Dhabi Ports closes $500m finance deal
Abu Dhabi Ports Company has closed a $500m financing deal for the development of the $2.5bn Khalifa Port at Taweelah. -
Algeria's tough terms deter energy majors
Algiers’ reluctance to improve licensing conditions is undermining its plans to increase oil and gas exports, with the latest bidding round failing to attract significant interest. -
Al-Rashid bids low for Ras al-Zour pipeline
The local Al-Rashid Trading & Contracting Company is the low bidder for two packages on the Ras al-Zour pipeline project, worth a total of SR5.2bn ($1.4bn), with Turkey's Mapa also in line to win work. -
Banks seek to mask losses on Qatari bourse
Critics claim accounting techniques will be used to inflate profits so dividends can be paid. -
BNP Paribas wins advisory role on Masdar's $22bn Green City
Official announcement of the financial adviser award is expected later this month. -
Cairo struggles to stimulate economic growth
With its economy closely tied to Europe, Egypt's plans for reform could be derailed by the downturn. -
Cairo will have to rethink spending
It is not in the government's interest to pass on too much of the pain to the poorest sections of society. -
Consultants line up for role overhauling Moroccan electricity tariffs
Morocco's state-owned energy utility, the Office National de l'Electricite (One), has received 14 expressions of interest for a study of electricity pricing in the country. -
Doha - Moving beyond the North field
With a moratorium on projects in its giant gas field likely to remain in place for another four years at least, Doha is focusing its efforts on a series of other schemes. -
Doha to put fifth deep gas block up for auction
Qatar Petroleum (QP) is to offer a fifth deep gas block to international oil companies (IOCs) in the coming months as part of its exploration of areas outside the hydrocarbons-rich North field, sources tell MEED. -
Dubai seeks private funding for utility schemes
Dewa demands firms secure finance before bidding for $1.5bn Hassyan deal. -
Dubai stalls work on One Zabeel and Meydan racecourse
One Zabeel and Meydan racecourse are the first landmark schemes the state has delayed that are already under way. -
Dusup awards $55m contract for Jebel Ali gas terminal
Dubai Supply Authority (Dusup) has awarded Geneva-registered Archirodon Construction Services the AED200m ($55m) contract to build a liquefied natural gas (LNG) regasification terminal at Jebel Ali. -
Global Banking Corporation (GBC)
The fledgling Bahrain-based finance house is seeking to grow its business internationally. -
Global Banking Corporation: MEED Assessment
While investment activity will be quieter in the year ahead, the most prudent growth strategy for GBC will be to focus on the Gulf region -
Gulf banks should disclose losses
Regulators must take a tougher stance to encourage disclosure. It is unwise to operate on the basis that markets will recover soon. -
Harsh Algerian contract conditions deter oil majors
Algiers' tough stance has driven international energy companies to invest elsewhere. -
Ipic reviews Fujairah refinery plans
Abu Dhabi-based company says scheme is no longer a priority as demand for refined products plummets. -
Outlook: Oil price falls put regional development on hold
After a five-year boom in the energy sector, the decline in oil prices is set to lead to delays on many planned projects in the region this year, but the recovery is expected to begin by 2010. -
Outlook: Oil price falls put regional development on hold
After a five-year boom in the energy sector, the decline in oil prices is set to lead to delays on many planned projects in the region this year, but the recovery is expected to begin by 2010. -
Over-exposed: Downgrades hit Gulf banks
The credit ratings of Gulf finance houses are falling as the effects of the real estate collapse spread. -
Riyadh awards Al-Rashid consortium $2.5bn border fence contract
Security contract is expected to be worth $2.6bn and take three years to complete. -
Riyadh fails on low-cost housing
With Saudi developers concentrating on luxury villas, demand for cheaper accommodation is soaring. -
Riyadh must ease the housing crisis
The lack of housing for low-to-middle-income earners is where the real problem lies. -
Sama Dubai shelves Dubai Towers Jeddah in wake of slowdown
The SR2bn ($534m) Dubai Towers Jeddah project has been put on hold as the developer, Sama Dubai, continues to rein in its development plans in the wake of the global economic downturn. -
Saudi Aramco retenders Petro-Rabigh consultancy
Saudi Aramco and Japan's Sumitomo Chemical Company are re-tendering the consultancy contract for the expansion of the integrated refinery and petrochemicals complex at Rabigh on the Red Sea coast, in an effort to reduce costs. -
Saudi Aramco sets example by demanding cheaper terms
The extent to which prices can be lowered will remain a source of friction. But for now, producers like Aramco can dictate to the market. -
Saudi Aramco shaves $2bn off cost of Karan field development
Energy giant to award contracts after receiving cheaper prices from contractors. -
Saudi ports industry
Six leading figures in the Saudi ports industry: Jubarah bin Eid al-Suraiseri, Khaled bin Ahmad Abdulrahman Bubshait, Saher Tahlawi, Faisal al-Qahtani, Mohammed Ahmad Youssef Zainal Alireza and Fares al-Blawi -
Special Report: Oil and Gas - Upstream plans suffer setbacks
For all the international oil companies’ (IOCs) talk about long-term planning, the current low in oil prices, coupled with the global economic downturn, has affected IOCs as much as any other business sector. -
Takreer shortlists bidders for Ruwais plant
Three consortiums prequalify to bid for contract to build 750MW simple-cycle power plant. -
The Ahnet Acreage in Algeria
While the failure of the seventh international oil and gas licensing round is a major embarrassment to Algiers, a more immediate concern is the potential impact of the government's decision to withdraw the promising Ahnet acreage from the tender. -
Upstream oil masterplan Project Kuwait set for review
The global downturn and falling oil prices are forcing the state to reassess the viability of the $55bn Project Kuwait, aimed at overhauling the energy sector and raising production capacity. -
Why Tripoli is revising its ambitions
A lack of significant hydrocarbons discoveries following a series of licence awards, combined with the impact of the falling oil price, are forcing the state to lower its production targets.
