3-5 August: IFN 2009 Issuers & Investors Asia Forum, Kuala Lumpur
9-10 September: Kurdistan Region Trade & Investment Summit, London
5 October: Doha Business Roundtable, Doha
11-14 October: Saudi Water and Power Forum, Jeddah
12 October: Euromoney Middle East Debt Markets Conference, Abu Dhabi
12-14 October: World Islamic Retail Banking, Dubai
12-15 October: Banking Outlook Middle East, Dubai
14-15 October: Unconventional Oil, London
14-15 October: Getenergy for Iraq, Istanbul
19-21 October: Middle East Investments Summit, Dubai
27–28 October: Gas to Liquids, London
27-29 October: Offshore Middle East 2009, Bahrain
23 November: The World in 2010 Executive Forum, Dubai
7-9 December: Iraq Petroleum, 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
Endorsements
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Professor Gerd Nonneman director Institute of Arab & Islamic Studies (IAIS), University of Exeter
"I have been a genuine admirer for many years. I regard GSN as the only one that focuses properly on Arabia and on Saudi Arabia in particular. That alone makes it very special as no country in the region is less understood in the UK than Saudi Arabia."
Stephen Day, consultant and former British ambassador
"GSN is by far the most professional and well-informed report on the region."
Luc Debieuvre, Bank Audi Saradar
"The website is excellent and adds value to an already very valuable publication"
José Silva Pereira general secretary Partex Oil and Gas
"Gulf States Newsletter provides a fund of information and insights for bankers and investors who are serious about doing business in the Gulf."
Francis Beddington, Banker and Economist
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Iraq’s Oil Challenge
Iraq’s Oil Challenge, is a special report published by Gulf States Newsletter (GSN) in December 2008. Featuring an in-depth look at the industry, the report places the latest developments in the oil sector in the context of Iraq’s security and defence environment and political arena, including relations between Baghdad and the Kurdistan Regional Government (KRG) in Erbil.
Extensively researched using GSN’s network of contacts in the energy, security and political sectors, Iraq’s Oil Challenge profiles the major personalities, corporates and organisations involved in shaping the industry. It analyses what has gone before and what the future holds in store as Iraq seeks to modernise and rebuild the sector with international oil company expertise.
Keep track of the energy sector decisions that affect your business by signing up for email Issue Alerts. You'll receive an email update when each issue is published, including excerpts of articles and links to full articles and other resources on our website. Sign up for eMail Issue Alerts
Issue 855 - 12 June 2009
IRAQ
Turks build KRG influence with Heritage Oil merger
Genel Enerji’s Heritage Oil deal represents an important first step in the consolidation of Kurdistan’s oil sector. GSN’s soundings suggest the deal isn’t politically motivated, but it will still serve to reinforce the trend of growing Turkish commercial influence in the region, which could be the precursor to warmer political relations. more
KUWAIT
Oil output down but authorities bullish
The decline in oil prices will not affect Kuwait’s upstream and downstream investment plans, according to the government, although its planned expansion won’t involve international companies due to a lack of political consensus, despite the advanced technology they possess that could lower costs and enhance recovery. more
Doing business in Iraq (really): IOCs prepare to rough it in Baghdad bid round
Bid award ceremonies lasting two days will begin early on 29 June, drawing unprecedented numbers of IOCs to Baghdad to participate in a series of eight sequential bids for oil and gas fields. The round’s timing means that IOCs’ engagement in Iraq must get very real, very quickly, with this round of bidding expected to be followed by months of horse-trading over terms and farm-ins. more
Into Baghdad: the BIAP run
Baghdad International Airport (BIAP) is used to VIP visitors from the US president to other foreign leaders and ministers, down to the ordinary dignitaries and senior businessmen. Even so, security is always a concern in an airport perched on the edge of Baghdad’s ‘Wild West’. more
Maintaining security at MOO
Ever since five UK citizens were snatched from the Iraqi Ministry of Finance in May 2007 – they continue to be held by Iranian-backed groups – it has been passé to consider a ministry building as secure or Iraqi forces as entirely trustworthy. Nor are Iraqi security forces yet sufficiently polished to meet the rigorous security standards of western executives. more
‘More aggressive’ Iraqi parliament cranks up pressure on Shahristani
As the licensing round deadline approaches, the political pressure on Oil Minister Hussein Al-Shahristani is increasing. more
Iraq Energy Institute
The Iraq Energy Institute has given GSN clarifications about its status. more
Iraq signs energy pact with Egypt
Iraq and Egypt signed an agreement to boost co-operation in energy exploration during a visit to Baghdad by Egyptian Petroleum Minister Sameh Fahmy. more
Payment terms unclear for Kurdistan oil exports
Kurdistan oil was set to start flowing through Iraq’s northern export pipeline as GSN went to press, a range of sources said, including to one of the international companies whose field is covered by a recent compromise deal between the federal Ministry of Oil (MOO) and the Kurdistan Regional Government (KRG)’s Natural Resources Ministry. more
PROJECT FINANCE
Project market clues to recovery
In the project finance market, signals have been mixed. On the one hand, the Saudi market has been through a dour time, not least in its cancellation of the $5.5bn-$6bn Ras Al-Zour independent water and power project (IWPP) as a private sector development after the original bid winner, Malaysia’s Malakoff, failed to come up with financing and decided to withdraw. more
Qatargas to supply Poland with gas and revamp ports more
ABU DHABI
The UAE’s $10bn Shah gas field development project will be completed by early 2015 more
BAHRAIN
More than $20bn will be spent in the next 20 years on developing Bahrain’s oil and gas sector. more
Issue 853 - 15 May 2009
IRAQ
Heritage discovery highlights high stakes oil gamble
Heritage Oil Corporation’s announcement on 6 May of a discovery in the Kurdistan Regional Government (KRG) zone, with oil in place of between 2.3 bbls and 4.2bn bbls, eloquently demonstrated why international oil companies (IOCs) from minnows to supermajors are prepared to take huge risks to participate in Iraq’s hydrocarbons sector. With an estimated recovery factor of 50%-70%, the Miran West field could be the 13th largest in Iraq. The largest is West Qurna-2 near Basra, a global-scale giant with estimated reserves of 15bn bbls. more
PIRACY
Pirates project the Horn’s instability onto the Gulf’s economies, adding further to pressures on Yemen
Widening their scope of operations, Somali pirates are posing an ever greater challenge to regional governments. While energy producers are rethinking their export strategies, governments are concerned that the Horn of Africa’s instability will encroach on the Gulf region’s southern flank. Yemen is especially vulnerable as the collapse of export revenues piles further pressure on President Saleh. GSN analyses developments in the Gulf of Aden, Somalia and Yemen, and talks exclusively to the Southern Movement’s new figurehead Ali Salem Al-Baydh. more
