ISSN 1347-7676 2007 4-6
ISSN 1347-7676 2007 4-6 32 33
5 12 5 31 3 6 12 2007 (Trafficking in Persons Report) 2005 6 25 6 22 3 Weiner GCC UAE 5 1 9 GCC 5 15 GCC GCC GCC Washington Post(2007.04.18) 80% 1/33
"Yes" (AP, 2007.04.18) 4 (4.1) (4.17) (Washington Post, 2007.05.11) 5 3-4 3 3 10 3 31 8 4 6 4 24 3 4 12 PKO 15 17 5 3 4 9 (AFP, 2007.05.08) 2/33
3 4 18 8 5 17-18 18 5000 5 6 18 (al- Quds al-arabi, 2007.06.19) 6 15 1200 6 26-27 26 25 6 27-28 27 2 25 28 6 30 3/33
4 21-22 GCC-EU 5 9 GCC-EU 6 4-5 BAE 2006 12 6 7 Guardian BAE 3000 10 BAE 6 12 BAE 1998 340 (Guardian, 2007.06.15) 1996 BAE (Sunday Times, 2007.06.17) 6 18-20 1980 1984 19 1 50 6 20-25 2005 21 6 25-26 25 3 2005 4/33
26 GCC FTA (2007.03) IAEA 180 28 SAGIA 4 11 12 GCC GCC 6 11 4 3 4 14 8 5 (2005-9) 5/33
1943 5 15 (1986-2000) (2000-2007) 2006 5 1 5 16 1922 5 8 1950 5 13 7 2 9 5 23 1 3 6 1 6/33
2 6 18 4 4 18 5 2 2 5 2 2 (Washington Post, 2007.05.19) 5 21 4 6 1 1 2 26 4 36 16 AFP 1 4 18 5 27 2 6 4 27 7 172 61 (2006.02.24) 5 al-watan(2007.04.28) 20 7/33
TV 5 14 (2006.02.24) 4 2004 9.11 UAE 6 5 2 1 2 6 7 1 11 48 9 90 2005 8/33
4 2006 9.1% 26.3% 12.0% 2006 11 802.5 678.1 124.4 390.1 320.0 67.1 --- A 343.2 293.7 49.5 --- B A - B 46.9 12.0% 29.3 9.1% 17.6 26.3% 2005 6.9% 2005 133.6 71.3 62.3 2006 200 IT CITC 4 21 STC 3 10 2002 9 2004 2008 STC 3 3 7 3 20 SR Verizon 3 7 21 30 25% 10% GOSI Pension Fund UAE Etisalat STC 2 3 3 MTC 9/33
UAE 6 11 Mobile Telecom Company MTC Almarai the Saudi Mobile Telecom Company SMTC Saudi Telecom Etisalat Mobily 2005 5 3 IT CITC 2006 3 3 3 9 MTC 7 5 MTC SR229.1 61.1 6 SR84 SR172.5 Mobily 33 MTC 2 80% MTC 3 3G SMTC SR140 37.4 20% 10% 30% SMTC Almarai MTC 50% 1800 400 2005 91 2020 600 1400 Mobily 650 MTC 1 400 MTC 2006 Madacom Vmobil 2005 19 1400 2006 20 2700 2006 68% 13.3 4 17 King Abdullah Financial District,KAFD SR1200,320 2006 5 KAFD 50 2005 4 1 SR1000 2005 12 10/33
2 SR300 2006 6 3 Knowledge SR250 2006 6 4 SR1000 2006 11 SR1200 SR3750 1000 10 30 1 GDP 3480 2006 1750 CMA 5 10 7 IPOIPO 2006 10 13 20 Saudi Arabian Cooperative Insurance Company 7 SR1 SR2.2 25% IPO 1 40% 2005 4 SAMA SAGIA IPO 7 SR3.54 5 20 5 20 Sayyari's office 5 31 11/33
25% SAMA GCC 3 15% 5.15% 2 3% 3 2.86% 4-5 4 2.9% 5 2.96% GE 5 21 GE Plastics Sabic 70% 116 GE Plastics 180 t/y 2006 66.5 6.74 GE 1 80-100 Sabic Apollo Management Basell R/D Shell BASF Sabic 2002 DSM 22.5 2006 9 Huntsman 7 Sabic CEO Sabic 10 7 Sabic 2006 4910 t/y Sabic SaudiAramco $0.75/ Btu $4.5/b 2006 231 54 23% 800 1 1999 340 t/y 2007 743 t/y 2 729 t/y 2008 2 1000 t/y 2 2 2010 2000 t/y 2006 1 2000 t/y 1 12/33
1 Saudi Aramco $0.75/ Btu $4.5/b $7/ Btu $70/b 2 10 /kwh 3.2 /kwh 12 /kwh EPC 1 Kayan Petrochemical Company 130 t/y 2010 EPC 2005 35 100 3 CEO 65 70-80% 45-52 EPC EPC 20-30% 70-80% 135 t/y 2004 5 43 2005 8 85 98 2.3 EPC EPC EPC lump sum turnkey contract LSTK reimbursable/convertible contract LSTK reimbursable/convertible contract win-win 13/33
ROE debt-to-equity ratios 70 30 60 40 50 50 Kayan Petrochemical Sabic Project Management & Development Company;PMD Sabic 35% PMD 20% 45% IPO 100 60% 60 40 45% 18 1 SR10 2.67 6.75 SR67.5 =18 4 28 5 7 IPO 320 5 SR320 north-south railroad project 4 3 Public Investment Fund:PIF 2006 5 PIF Saudi Company for Railways PIF 2300km 4 3 1800km SR71 19 43 (1) 576km : Binladen Group 2 SR23 (2) 440km China Railway 18th Bureau Group Al-Suwaikat Group SR19 (3) 818km Barclay Mowlem Al Rashid SR28 7.5 (4) 480km 2300km 400 200 MEED 2-3 80-150 100-160km 2 250km 14/33
450km Makkah-Medina high-speed rail link The Saudi Landbridge project Saudi Arabian Mining Company Maaden 4 30 Alcan Inc. Heads of Agreement SR262.5 70 Maaden 51% Alcan 49% 9000 30 300 t/y 160 t/y 72 t/y 140 kw 2011 1 Alcan 2006 4 SR140.86 37.6 50 Alcan CEO Maaden CEO 3 Sabic SR130 35 2 2 120 Alcan 5 7 Alcoa 269 Alcan 5 22 Alcoa 2006 355 t/y Alcan 2 340 t/y 2 RUSAL SUAL Glencore 375 t/y Alcan Alcoa 2 3300t/d Samsung Engineering 5 31 7 8 Maaden 15/33
SR36 9.6 4 2010 12 Maaden 6 26 3 SR56 15 Western Way for Industrial Development Co. 4 20 China Nonferrous Metal Industry's Foreign Engineering & Construction Company NFC China National Machinery Industry Corp. Sinomach 160 t/y 70 t/y SR150 40 MMC Corp. Binladin Group 1 2000 AME Info 62.5% Arab News 5 8 100% 46% 6.4 2005 15 4000 25-26 Kingdom Holding Company KHC Cristal National Titanium Dioxide Company 6 11 Lyondell SR45 12 2 26 16/33
Lyondell 67 t/y 2 6 9 70 Cristal KHC the National Industrialization Company Tasnee 66% 33% GIC 10 t/y 2 KHC 246.5 Disney, PepsiCo, Apple, Four Seasons Hotels, News Corporation 16 20% 6 18 KHC 5% 1 SR10.5 11 KHC 3 1500 5% SR34.6 9.227 KHC 180 2 7000 4 1 7812 6 30 6970 4 7 8062 6 18 6871 10 2005 Al-Bilad Bank 2006 SR352 94 30% 2005 2004 60% 2006 Al-Rajhi Bank 3 2 National Commercial Bank 1 3 Samba Financial Group Saudi Holland Bank ROE 20% 60% 2007 1 Al-Bilad Bank 11 30% 2006 1 2 07 7000 1/3 Saudi Aramco GOSP-4-4 3 2008 25 b/d 2006 15 GOSP 2006 4 3 SNC-Lavalin, Hyundai Heavy Industries, NEC 3 Nesma, NCC Al Falak EIA 2006 11 141 17/33
55 b/d 3 GOSP 635km API 41.6 143 25 cf EIA 8.8 cf/d 5 6 2012 100 b/d EIA 30 2 8 Aramco 10 b/d 4 2011 1,250 1,500 b/d 2 25 b/d Berri 30 b/d 120 b/d 1938 Aramco CO2 CO2 5 8 8,000 EOR CO2 3,900 CO2 EOR AramcoAramco Service Company EnCana Apache Canada Aramco 5 CO2 Aramco Aramco Service EOR Petrobras Aramco 4 Petrobras 130 Aramco 2010 105 b/d Petrobras 114 Aramco Petrobras 2009 1,200 b/d 42% 950 b/d 18/33
Aramco 90 b/d EPC McDermott 5 15 Lump-sum turnkey 13 26 6 7 2011 6 90 b/d 1.2 cf/d 5 b/d 95 b/d produced water Foster Wheeler PMC FEED 2006 Aramco 1,100 b/d 2010 1,250 b/d 2020 1,500 b/d 180 3 A/H Aramco Aramco 2 Saudi Press Agency 5 15 * -1 2 Aramco 15,310ft API 50 3,915b/d 1,190 cfd Bechtel Technip AFK 19/33
Lumpsum Turnkey 6 15 Aramco 50 b/d 2 2005 Lumpsum Turnkey Aramco 50-60% Lumpsum Turnkey Aramco Bechtel Technip 36 70% 2007 Foster Wheeler 100 FEED PMC Aramco 5 22 10 cf/d EPC Petrocon Foster Wheeler 110 FEED Aramco 2008 EPC 2008 100km 9tcf 7 8,000 cf/d 1,400b/d 10 cfd EIA Aramco 2006 3 2011 1 4 30 Technip Foster Wheeler Techint 4 Aramco 7 7 18 Lumpsum Turnkey 30 11 3 2008 3 1 2010 12 30 20/33
90 b/d 1.2 cf/d 5 b/d 95 b/d 110 Aramco 6 15 10 Albinali 21 8 Aramco 6 2009 120 b/d 200 b/d Aramco 2006 890 b/d 2005 910 b/d 20 b/d 5 1 2006 32.5 2,599 2005 33 2,598 2005 239.5tcf 2006 248.5tcf 8.22Bcf 82.2 ft3 110 b/d 2006 3 333 294 39 35 125 47 200 5 126 69 2006 25.4 2005 26.2 2006 51.6% 2005 49.7% 2005 18.6% 2006 19.2% 2005 7.7% 9.4% 6.6% 8.4% Aramco Aramco Aramco 1,130 b/d 2009 1,200 b/d 21/33
150 200 b/d Aramco Aramco 3 2 4 259 1,898 4 1,480 17.5% 3 230 12.5% 16% 4 220 2 3 10.3% 25.7% 188 3 178 163 4 670 45.2% 3 40.9% 2006 4 49.8% 335 22.6% 3 25.2% 20.0% 1 4 1 4 850 3.45% 22/33
5,450 15.7% 16.8% 6 BP 2005 189 b/d 200 b/d 6.2% 2.3% 2005 712 cm3 737 cm3 3.5% 210 b/d OPEC 2 2006 OPEC UAE 13 b/d Aramco 7 12 5 28 1 6 $15.25-16.50/mt A180 Natural Gasoline $25/ mt Aramco Chemical-Feed $20.50/ mt, A310 $19.50, Treated $22.50 Jubail Chevron Phillips Co. A180 Natural Gasoline Aramco Platts Argus AG Naphtha Grade Jul-Dec.07 Jan-Jun. 07 Change A180 NG +$25.00/mt +$8.50/mt +$16.50 Rabigh +$22.50 +$7.00 +$15.50 Jubail +$20.50 +$5.25 +$15.25 A310 +$19.50 *$3/mt Naphtha Grade Jul 07- Jun 08 Apr.07 - Mar.08 Jan.-Dec.07 Pentane-Plus +$20/mt +$19.50 +$12.50 Low Sulfur +$18.50 +$18.00 +$9.50 23/33
Splitter +$18.00 +$17.50 +$9.00 6% 9% 55% Sabic 120-2 -3 Aramco 10 248.5Tcf 40% Aramco 2 1990 73tcf 5 9 10 100tcf 186 332 9tcf 60% OPEC Aramco 2007 2011 67 307 248.5Tcf 50km 1,000 cf/d 1,000 cf/d 6,000 cf/d 4 3 82.2 cf/d 2011 10 cf/d 100km FEED PMC Aramco 6 (1) 2 140km 24/33
3 Aramco 4 Aramco 2011 12 6 280psi 900psi H2S CO2 CO2-H2S 7 1 1 1 Aramco 30 1 7.7 cf/d 1 2012 Aramco Aramco R/D Shell Total, Lukoil, Sinopec, Eni Repsol 4 Lukoil Luksar Energy R/D Shell, Total Srak 6tcf 2011 5 cfd 26 2011 Aramco Aramco 4 75 /mmbtu Aramco Dow Chemical 5 12 MoU 220 150 25/33
Aramco 2012 55 b/d 700 t/y Aramco 2006 7 Dow SABIC Aramco Aramco 30% 70% 30% IPO 30 4,000 Dow Chemical CEO Dow Chemical Aramco 95 8,000b/ d 2012 12.5 b/d 2 2 3 3 21 453.5 121 Jubail Refinery Company: 2 500 m2 Aramco 35% Total 35% 40 b/d 240 64 11 2007 26/33
1,000 LPG Polyolefins complex: 2 220 m2 Sipchem 200 53 20 340 1,880 Polybutylene Telephthalate plant: 2 20 m2 Osos Petrochemical Co. Osos 6 13.5 3.6 FEED PMC 2 Foster Wheeler 2 9 1 3km 2 2,240 5 Total Aramco 50:50% -2 Total CEO 5 15 70 2006 8 FEED IPO 30% 2008 IPO Aramco Total 35% Total LNG Foster Wheeler Saudi Aramco/Total 5 24 Foster Wheeler "Selective Yield Delayed Coking 27/33
Process" SYDEC SM Arabian Heavy Aramco 2 6 17 "East Coast Refinery" Ras Tanura-2 3 6 17 Aramco 40 b/d 2012 Aramco 5.5 b/d 23.1 b/d 9.1 b/d 12.3 b/d Aramco 70 80 Al Riyadh Newspaper PMC 6 25 7 10 55 b/d 2 JV 100% Aramco Dow Chemical 5 12 MoU Aramco 5 140 b/d 2 JV 210 b/d 2 4 160 b/d 8 1 5 28 120 150 28/33
2006 11 25 40 b/d 2007 Petronas IOC CNOOC Formosa 8 (1)Nama Chemicals, 2 Arabian Company for Water and Power Projects ACWA Power Projects, 3 Advanced Petrochemicals and Refineries Co., 4 National Industrialization Co. NIC, 5 Al- Jazeera Industrial and Petroleum Services Co., 6 Energy Company Taqaat, 7 Abdul Qader Al- Bakry and Sons, 8 Obaikan Investment Group. IOC 6 8 OK IOC 70 120 Petronas Nama Chemicals Co. 2 IOC Aramco Sinopec, Exxon Mobil 6 2 1 (1) 2 Sinopec SenMei $50 1 Quanzhou 8 b/d 400 t/y 24 b/d 1,200 t/y 80 t/y 80 t/y 40 t/y 70 t/y 30 Saudi Aramco Saudi Aramco Sino Company 2 Fujian Refining and Ethylene project Fujian Refining and Petrochemical Company Ltd. Fujian Petrochemical Company Ltd FPCL-50%, ExxonMobil China Petroleum and Petrochemical Company 29/33
Ltd 25% Saudi Aramco Sino Company Ltd 25% 2009 2 Sinopec SenMei Sinopec SenMei Fujian Petroleum Company Ltd. 750 Sinopec 55%,ExxonMobil China Petroleum and Petrochemical Company Ltd 22.5% Saudi Aramco Sino Company Ltd. 22.5% Aramco SINOPEC 1,000 20 b/d Sinopec 100 b/d MoU Sinopec85% Sinopec Qingdao Refining & Chemical Sinopec85%, 10% 5% Sinopec 25% Bapco 4 16 Al-Wasat Aramco 4 60 Bapco Aramco SPC 2002 5-7,000 1 22.4 b/d 35 b/d 45 b/d 115km 21 7 Trans-peninsula Petroleum Sdn.Bhd., Transpen 70 Ranhill Engineerings and Constructors Sdn.Bhd. PT Tripatra Engineers and Consultants 300km 5 30/33
Transpen Bakrie and Brothers tbk Al-Banader International Group 7 3 1.2m 600 b/d 20% 6 30% Transpen VLCC 8 60% VLCC VLCC VLCC 8 1 25m 1.8 2,860 KL 90% Transpen Petronas 2011 31/33
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2007 4-6 2007 7 24 104-0054 1-13-1 10 tel: 03-5547-0230, fax: 03-5547-0229, e-mail: webmaster@jime.ieej.or.jp http://jime.ieej.or.jp/ ISSN 1347-7676