Qatar inflation edges up 0.1% in December

Qatar inflation edges up 0.1% in December14/01/2018 (The Peninsula – Qatar): DOHA: The prices of most items in Qatar have stabilised, reinforcing the claims that the country has successfully overcome the initial impact of the  ongoing unjust blockade by four Arab countries, who abruptly severed ties with Qatar in early June last year, and stopped exporting all of their goods, including daily consumable essentials. Qatar’s monthly inflation, based on consumer price index (CPI) in December, 2017, edged up only marginally by 0.1 percent compared to previous month. The surge in prices of some items were almost offset by the fall in the prices of other goods, such as food and beverages, clothing and footwear, whose prices declined by varying degrees in December compared to previous month. Prices of other miscellaneous goods and services, housing, water, electricity, fuel and other items remained stable in December against November 2017…



Towards self-sufficiency in gas?

Zohr Field05/01/2018 (Ahram Online): Egypt’s Zohr Field, the largest offshore natural gas field in the Mediterranean, started production on 16 December. It could prove to be a permanent remedy to Egypt’s power needs and bring it closer to the goal of self-sufficiency in the energy sector in 2018. The supergiant field covers an area of about 100 square km, with estimated reserves of 30 trillion cubic feet and expected initial production of 350 million cubic feet per day. This is expected to rise to about one billion cubic feet by next June and then to 2.7 billion cubic feet by the end of 2019. The field’s output would cover the gap between Egypt’s total gas consumption, standing at 4.9 billion cubic feet per day in 2016, and its total daily production of four billion cubic feet, according to data from the British Petroleum (BP) Statistical Review…–.aspx


Saudi, Djibouti sign economic cooperation agreement

23/12/2017 (Arab News . KSA): RIYADH: Saudi Arabia and Djibouti yesterday signed a cooperation agreement in areas including industry, energy, mineral wealth, telecommunications, information technology, housing health, agriculture, water and environmental protection. The agreement included measures to speed up the development of air transport between the two countries and ways to increase trade through improved maritime transport, according to Asharq Al-Awsat. The agreement also included ways of increasing the volume of trade and investment exchange between the two countries in accordance with both the Saudi Vision 2030 and Djibouti’s Vision 2035…


Iran’s Largest Joint Oil Field to Be Tendered by Summer 2018

Iran's Largest Joint Oil Field to Be Tendered by Summer 201816/12/2017 (Financial Times – Iran ): Iran will finalize a deal for Azadegan Oilfield, the crown jewel of its shared oil deposits, by the summer of 2018, Oil Minister Bijan Namdar Zanganeh said. “The tender for Azadegan Oilfield is going according to schedule…it will be concluded by summer next year if the tender goes as planned,” Zanganeh was quoted as saying this week on the sidelines of signing a gas deal with Russia’s Gazprom in Tehran, IRNA reported. Iran is in a race to develop the shared reservoir with Iraq — its largest joint oilfield — that contains an estimated 33 billion barrels of crude in place. Royal Dutch Shell has developed the Iraqi stretch of the reservoir, known as Majnoon Oilfield in the southern city of Basra. Majnoon came into production in 2014…


Turkey’s industrial production rises in October

Turkey's industrial production rises in October08/12/2017 (Anadolu Agency – Turkey): Turkey’s industrial production annually rose by 7.3 percent in October, according to the Turkish Statistical Institute (TurkStat) on Wednesday. On an annual basis, the manufacturing index saw the biggest rise in October, up 7.7 percent, among all three main sub-indices, according to TurkStat. In the same period, the electricity, gas, steam and air conditioning supply index also increased by 7.3 percent while the mining and quarrying index rose by 0.5 percent. On a monthly basis, the country’s industrial production increased by 0.7 percent in October, TurkStat reported. In October, the manufacturing index increased by 1.3 percent while the mining and quarrying and the electricity, gas, steam and air conditioning supply indices declined by 2.2 percent and 1.9 percent, respectively…


Turkey’s 11-month exports hit over $142 billion as automotive exports rise

Turkey’s 11-month exports hit over $142 billion as automotive exports rise02/12/2017 (Hurriyet – Turkey): Turkey’s exports from this January to November reached $142.7 billion, marking a 10.7 percent rise from the same period last year, mainly due to an ongoing surge in automotive exports, the Turkish Exporters’ Assembly (TİM) stated on Dec. 1. In November, the country’s exports rose by 14.2 percent year-on-year and recorded $13.6 billion, TİM President Mehmet Büyükekşi said at a meeting in the Black Sea province of Tokat. TİM figures showed that exports in the last 12 months also showed a 10.5 percent yearly increase to reach $155.4 billion. The year-end export target is $156.5 billion, according to the country’s Medium-Term Economic Program (OVP)…


Turkey aims to reach $5 bln wind investment by year-end

Turkey aims to reach $5 bln wind investment by year-end25/11/2017 (Hurriyet – Turkey): Turkey plans to achieve around $5 billion in wind energy investments by the end of the year with the help of 1 gigawatt (GW) from the Turkish Renewable Energy Resource Zone Project (YEKA) along with finalized wind energy tenders of around 3 GW, according to the Turkish Wind Energy Association (TÜREB) head on Nov. 24. In an exclusive interview with Anadolu Agency, TÜREB President Mustafa Serdar Ataseven said Turkey’s wind energy installed capacity will be boosted through ongoing projects and planned tenders that will be finalized by the end of December. The next pre-license tender for 2,130 megawatts (MW) will be offered over a five-day period starting Monday, Dec. 25 to help generate electricity at competitive prices for Turkish consumers, Ataseven said…


Turkey expected to invest 141B euros in energy by 2025

Turkey is projected to top among Southeastern European countries in terms of energy investments with 141.6 billion euros invested by 2025.18/11/2017 (Sabah – Turkey): An energy outlook report released by the Greece-based Institute of Energy for South East Europe (IENE) says that Turkey is the leader in the region in terms of energy investment and demand. The report also foresees that 141.6 billion euros will be invested in the country’s energy sector until 2025. Covering 13 countries in the region – Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Slovenia, Cyprus, Macedonia, Greece, Kosovo, Montenegro, Romania, Serbia and Turkey – the IENE report highlighted Turkey’s energy position in the region, as the country has made significant progress in adapting its legislation and market operations to European energy acquis…


Iraq to export Kirkuk oil to Iran

Iraq to export Kirkuk oil to Iran11/11/2017 (Anadolu Agency – Turkey): Iraq and Iran Friday agreed in principle to export Kirkuk oil to Iran, according to Iraqi oil ministry. Iraqi Oil Minister Jabbar al-Luaibi said in a statement that 30,000-60,000 barrels of oil per day would be exported to Iran’s Kermanshah province. The deal was signed in Baghdad between Iraq’s State Organization for Marketing of Oil (SOMO) and Iran, al-Luaibi said. The amount of the export would be increased after pipelines were installed, he added. Al-Luaibi said the oil would be trucked over Iraq’s border to Kermanshah. “The [Iraqi] government aims to carry out oil and strategic projects with Turkey, Iran, Kuwait, Saudi Arabia and Syria,” al-Luaibi said, adding that the deal with Iran would be signed after technical and administrative aspects were settled..


Germany’s KFW bank is financing projects in Egypt worth 1.8 billion euros: Representative

KfW 03/11/2017 (Ahram Online – Egypt): German state development bank KFW has provided financing for projects currently in the country that is worth 1.8 billion euros, state agency MENA reported the head of the bank’s Egyptian office as saying on Friday. Burkhard Hinz told journalists during the festival “Germany in the Nile Delta” that the bank was focusing key current fields in Egypt, including water, solid garbage, new and renewable energy, technical education, and supporting primary education. He also said that KFW has financed projects worth 5.5 billion euros since it began its operations in Egypt in the 1960s. Hinz stated the bank has financed the construction of 900 primary education schools across Egypt, water projects that have benefited at least 4 million people in the Nile Delta, and irrigation projects helping 7 million people…