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ACWA Power International secures funding for Rabigh power plant projects. Saudi Arabia based ACWA Power International raised $2 Bn to finance its Rabigh power plant projects. The funding to the tune of $1.4 Bn for the plant, which is expected to generate 1,200 megawatts of power per day, was raised from Saudi banks while the [...]
According to British Petroleum, the daily oil production in Iraq was 2,145 thousand barrels in 2007; exhibiting a CAGR of 6.3% from 1997 levels of 1,166 thousand barrels. Iraq accounted for 2.7% of the global daily oil production in 2007.
According to British Petroleum, the total proven oil reserves in Iraq in 2007 were 115 billion barrels which have represented a CAGR of 0.2% from 1997 levels of 112.5 billion barrels. Iraq oil reserves accounted for 9.3% of the global oil reserves in 2007.
According to British Petroleum, the daily oil production in Iran was 4,401 thousand barrels in 2007; exhibiting a CAGR of 1.5% from 1997 levels of 3,776 thousand barrels. However, the total daily consumption stood at 1,621 thousand barrels in 2007 representing a CAGR of 2.7% over the 1997 levels of 1,239 thousand barrels. Iran accounted [...]
According to British Petroleum, the total proven oil reserves in Iran in 2007 were 138.4 billion barrels which have represented a CAGR of 4.1% from 1997 levels of 92.6 billion barrels. Iran oil reserves accounted for 11.2% of the global oil reserves in 2007.
The unprecedented growth seen in China has created a strong demand for iron ore. With China’s ongoing infrastructure projects in power stations, ports, highways, and railways, the country needs more iron ore in the coming years. The rapid increase in Chinese steel consumption has created extra demand for iron ore, a key ingredient in the [...]
According to the Brazilian Association of Highly-Recyclable Can Producers, Brazil’s aluminum can industry was expected to grow by 8% in 2008, as the beverage market expanded with the growing economy. It was estimated that 50-60% of the beverage cans sold in Brazil were made from recycled aluminum and around 95% of all cans were recycled [...]
According to the Iron and Steel Association, the profits of the entire Chinese steel industry totaled RMB84.6bn in the year of 2008, down 43.7% year-on-year, while the taxes stood at RMB114.9bn, decreasing by 23%. The sharp decline in steel industry profits was mainly due to cost rise, the global financial crisis, as well as the [...]
The GCC markets showed a positive trend for the week ended March 19, 2009, as increased oil prices boosted investor confidence. This boosted liquidity and resulted in stronger week-to-date (WTD) returns. The Saudi Arabia, Qatar and Abu Dhabi indices reported relatively better returns due to greater dependence on oil revenues. Qatar’s bourse gave the best [...]
Global equity markets had a great rally for the third successive week during the week ended March 27, 2009, as broader indices recovered majority of the losses suffered in the first two months of 2009. The US government announced a Public-Private Partnership (PPP) plan to buy toxic assets from banks to free up capital, enabling [...]
