|Doha ´city centre´ part of history|
|THE high sales pitch of the
shop-owners and the flurry of
activity among shoppers, trying
to drive a smart bargain at
Musheireb (popularly called
National), Souq Ahmed bin
Abdullah and the markets in the
lanes and bylanes
of the area
seen over the last
one week or so are
like the flicker of a lamp´s flame
before it dies out in a storm.
The traders are resorting to
distress clearance of their
stocks as the deadline.
|Europe´s Real Problems|
|WHEN the history of the 21st
century is written people
will ask why it was that
Europe was found wanting
during its most intractable
economic crisis. They will ask why
Europe slept as an undercapitalised
banking system floundered, unemployment
remained unacceptably high, and
the Continent´s growth and competitiveness
Worse still, if a reconstruction plan
does not come soon, Europe´s leaders
will be charged with "the decline of...
|NO, WE CAN´T?
|IF you were shocked by Friday´s
job report, if you thought we
were doing well and were taken
aback by the bad news, you
haven´t been paying attention.
The fact is, the United States economy
has been stuck in a rut for a year
and a half.
Yet a destructive passivity has
overtaken our discourse. Turn on
your TV and you´ll see some self-satisfied
pundit declaring that nothing
much can be done about the economy´s
Norway’s DNO doubles oil reserves estimate in Kurdish field
NORWEGIAN oil firm DNO said on Tuesday it had more than doubled its oil reserve estimate for its licensed Tawke oil field in the Kurdistan region of Iraq, sending its share price up nearly four percent.
“After this third party review by our external auditors, the Tawke oil field is confirmed to be a world class, giant oil field,” DNO chief Helge Eide said in a statement.
The audit, carried out by French company Beicip Franlab, showed the field, which currently produces an average of 70,000 barrels of oil a day, had recoverable reserves of around 636 million barrels, up from an estimate at the end of 2010 of 306 million barrels.
“The new reserves numbers far exceed our expectations of even a few months ago and certainly were not envisaged when we made the discovery in 2006,” Eide said.
Following the announcement, DNO saw its share price jump 3.83 percent to 6.24 kroner in midday trading on an Oslo stock exchange down 1.8 percent.
DNO, which was among the first companies to operate in Iraq after the fall of Saddam Hussein, meanwhile said it had separately undertaken to estimate the size of other discoveries on its licenses in the Kurdistan region of Iraq as well as the potential of all undrilled prospects and geological horizons in response to a request by the Kurdistan Ministry of Natural Resources.
Those non-audited estimates showed recoverable oil reserves within its two Erbil area licenses of 136 million barrels in the Benenan and new Bastora fields.