18-20 January: MENA-EX 2009 Strategic Conference and Exhibition, Jeddah
19-21 January: Gulf C4ISR 2009, Abu Dhabi
19-21 January: Oil & Gas Maintenance & Technology, Manama
20 January: The World in 2009 Executive Forum, Dubai
24-25 January: Iraq Health Summit, Dubai
25-26 January: Operational Risk Management for Banking & Finance, Manama
26-28 January: 3rd Annual Global E&P Summit, Barcelona
28-30 January: Gas Transport & Storage Summit 2009, Barcelona
2-4 February: Middle East Energy Security Forum, Dubai
3-5 February: Strategic Private Equity Investment Middle East 2009, Dubai
9-10 February: Middle East Energy 2009: The Politics of Investment and Supply, London
17-18 February: Islamic Project Finance, Dubai
24-25 February: 8th Annual Islamic Finance Summit, London
24-25 February: Middle East Trade and Export Finance, Dubai
4-5 March: Oil & Gas Contracts with Host Petroleum Regimes, Paris
23-24 March: LNG 2009, London
Briefings & Reports
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In addition to producing the flagship fortnightly Gulf States Newsletter, GSN’s team of experienced analysts also produce briefings and reports on a range of topics and issues that affect the region. Our expertise can be tapped by anyone and delivered in a range of formats. For more information contact Nick Carn. nick@gsn-online.com
Issue 842 - 5 December 2008
KUWAIT
Some majors contemplate withdrawal as Kuwaiti projects remain elusive for IOCs
While Kuwait’s latest government crisis keeps the headline writers busy (see Politics, below), major oil companies are worrying that their hopes of developing the emirate’s huge reserves seem as elusive as ever. Some IOCs will struggle to make a profit even when the newly proposed enhanced technical services agreements come into effect – leading executives to weigh up options for their Kuwait strategy; some are even contemplating withdrawal in 2009. more
A pair of deals between the federal government and Kurdistan Regional Government on oil exports and developing the Kirkuk oil field have raised hopes of further strategic compromises, but severe tensions remain between Baghdad and Irbil. more
PROJECT FINANCE
Options weighed for Dolphin refinancing
Manoeuvrings for refinancing one of the GCC region’s most important energy transfer projects, the Dolphin Energy Ltd (DEL) gas pipeline between Qatar and the UAE, are expected to accelerate in the New Year, although bankers are remaining tight-lipped on details. more
Issue 841 - 21 November 2008
IRAN
Tehran’s inefficient policies and sanctions hold back much-needed gas sector development
Iran has ambitious plans for developing its huge gas reserves, including exporting gas to GCC member states and Europe and a $4bn Pars pipeline, but bureaucracy and US sanctions remain significant challenges. more
IRAN / QATAR / RUSSIA
The big gas ‘troika’
It remains to be seen if anything concrete will emerge out of mid-November talks between Iran, Qatar and Russia about developing the Gas Exporting Countries Forum (GECF) as an organisation to co-ordinate gas projects and pricing world-wide, and to develop schemes between the three country ‘troika’. Some big players, including Algeria, remain distinctly luke-warm to developing the GECF, and even within the ‘troika’ there are still tensions to be overcome, particularly between Qatar and Iran. “There is tension over the North Dome/South Pars gas field,” commented Varzi Energy’s Mehdi Varzi. “Qatar claims it owns all of it, while Iran claims it owns 30%-40%,” he said. more
Industry Pointers
DEALS
BAHRAIN/SAUDI ARABIA: Pipeline shows relations are good more
REGIONAL: BNPP AND FORTIS BANK: Merger expands energy reach
For long a significant player in project finance and emerging markets, BNP Paribas (BNPP) has become a bigger force still on the Africa and Middle East energy scene with the acquisition, announced on 6 October, of Belgian/Dutch giant Fortis Bank NV/SA and some of its affiliates. A leading European victim of the credit crunch, Fortis’ total commitments to the energy sector exceeded €6bn – which doesn’t take into account what it called “a significant portfolio of energy trading activities”. more
