November 16, 2011
The state minister of energy Ali Ahmed Osman told the parliament that Sudan currently produces 117,900 bpd and projected an average of 320,000 bpd between the years 2013-2016. He offered no details on where the increase would come from.
Banks in the region have a variety of options for increasing the pool of talent needed to develop software. They can keep all of the functions in-house, hiring additional staff, but they are hindered in doing so by shortages in the talent pool.
Brent crude slipped below $112 on Wednesday, reversing some of the previous session's gains on worries that new governments in Greece and Italy may fail to muster political clout to impose unpopular reforms and contain the region's debt crisis.
This week, a Norwegian multi-gas speciality carrier, designed to carry Bahrain Liquefied Natural Gas (LNG) as well as a range of other liquefied gas cargoes, was formally named Bahrain Vision at the Khalifa Bin Salman Port.
Despite prices of food declining a bit from their highest point during the peak of global food price crisis in mid 2008, recent price increases pushed food prices 80 percent above their 2002 levels.
Oil-exporting countries in the Gulf will benefit from GDP growth of about 4 percent next year amid improving liquidity among banks and extensive stimulus measures, according to the credit ratings agency.
November 15, 2011
The global economic slowdown is set to continue in the long term, according to a report by the Organisation for Economic Cooperation and Development (OECD).
The world’s top planemakers issued bullish forecasts for demand from the Middle East Monday, underlining the region’s importance to the industry a day after Boeing unveiled a blockbuster deal to sell 50 of its 777 jetliners to host airline Emirates.
Oil prices retreated yesterday after a short rally, as traders reacted to a changing political landscape in Italy and tensions in the Middle East.
November 14, 2011
Spot market demand for supertankers carrying Middle East crude oil surged to a record high of 137 fixtures in November, representing 9.13 million barrels of oil per day, traders said on Monday.
Saturday’s decision to suspend Syria’s membership in the Arab League is not expected to put any additional pressure on Beirut stocks already toiling under the unrest and from the lack of government in the early months of the year.
2011 proved to be a much better year for the Dubai economy than many forecasters expected with a surprise to the upside for aviation, hospitality, retailing, oil prices and even real estate, all partly due to the Arab Spring unrest in the region.
The IEA, adviser on energy policy to major oil-consuming countries, said world demand for oil would rise steadily over the next two decades to around 99 million barrels per day (bpd) by 2035, and investment in new production would have to keep up.
The financial crisis of 2008-09 and the preceding boom have left a large share of Gulf banks’ loan portfolios impaired.
Economists stressed that Lebanon, which is already reeling under a severe economic slowdown, had much to lose if the government were to comply with Western and Arab pressure to apply biting sanctions on Syria.