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East Med: Leviathan FID Stalls As ExxonMobil Looks To Cyprus Offshore
...viathan gas. In late December 2015 Israeli Energy Minister Yuval Steinitz announced the country would begin phasing out coal burning in favor of gas by 15% in 2016 and by 20% in 2017. Demand grew accordingly last year and hit a record 978mn cfd in Q3 (see chart and MEES, 18 November 2016). Israel’s 2017 go...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Sharara Restart Pushes Libyan Output Close To 700,000 b/d
...oduction to around 950,000 b/d by early April, are a slightly delayed version of NOC’s more recent plan to increase output to 900,000 b/d by the end of 2016 and to 1.1mn b/d by the end of 2017 (MEES, 18 November 2016). Mr Sanalla is now targeting output of an even more ambitious 1.2mn barrels by the end of th...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Jordan Wind Farm Deals Concluded, Shale Still Awaiting Chinese Go-Ahead
...stas, for installation at the 89.1MW Fujeij wind farm to be built 150km south of Amman. Kepco has also secured finance from Korean and Japanese institutions. Vestas says turbine deliveries to Fujeij will begin in the fourth quarter of 2017, with commissioning starting in third quarter 2018. The to...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Opec Starts Cutting From Record Annual High
...ker Hughes. The IEA last month upgraded its Q1 2017 projection for US output by 70,000 b/d and further upward revisions are likely. OPEC’S NUMBER 2*: IRAQ CONSOLIDATES ITS POSITION WHILE IRAN PULLS AWAY FROM THE CHASING PACK (MN B/D, CRUDE OUTPUT) *SAUDI ARABIA IS WAY OUT IN FRONT, PO...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Saudi 2017 Budget Boosts Spending But Slashes Deficit By One-Third
...Saudi Arabia is banking on rising oil prices to help slash its budget deficit by more than a third. The kingdom’s newly released 2017 budget projects revenue to grow for the first time in five years, although non-oil revenue growth is set to stall despite its vaunted 2030 Vision. Saudi Ar...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Oman 2017 Budget Cuts Deficit By 44% With Brighter Prospects For Oil Revenues
...Sharp spending cuts and rising oil prices are combining to slash Oman’s projected budget deficit by 45% to OR3bn in 2017. A conservative oil price estimate means this could fall further to around OR1bn. Oman has announced an austerity budget for 2017 slashing its fiscal deficit by 44% in re...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017