1. Kufpec Eyes Portfolio Optimization After Exiting Norway & China

    ...ina, after picking up assets there a decade ago as part of its ambitious plans to become a mid-sized “international National Oil Company” (MEES, 25 April 2014). While some assets acquired at the time have succeeded, many have flopped, and Kufpec now appears intent on debloating its portfolio starting wi...

    Volume: 67
    Issue: 02
    Published at Fri, 12 Jan 2024
  2. Saudi Kicks Off 2019 Fundraising With $7.5bn Bond Issue

    ...test bond issue will partially cover 2019’s projected deficit of $35bn. According to the Saudi Finance Ministry, debt in 2019 will rise by $31.5bn to $180.8bn (21.7% of GDP), implying that considerably more debt would be raised this year.  Following the collapse in oil prices in 2014, the kingdom be...

    Volume: 62
    Issue: 02
    Published at Fri, 11 Jan 2019
  3. KRG Falling Oil Revenue Exacerbates Economic Crisis

    ...vering the backlog in the salaries, and pay international oil companies (IOCs).   There are currently no indications that a resumption of the December 2014 agreement is imminent. Indeed, in the KRG Ministry of Natural Resources Monthly Export report for December 2015, the section detailing de...

    Volume: 59
    Issue: 02
    Published at Fri, 15 Jan 2016
  4. Gulf Keystone Cash Position Slowly Improves on KRG Payments

    ...mn gross, with Gulf Keystone receiving net payments of $12mn. The previous payment had been received on 2 December. In the interim period, the company’s cash balance increased slightly from $54.6mn to $58.4mn.   This is considerably down on the firm’s position at the end of 2014. Its cash re...

    Volume: 59
    Issue: 02
    Published at Fri, 15 Jan 2016
  5. Cairo Begins To Restore Faith In Its Oil And Gas Sector

    ...yptian pounds. It says $3.1bn remains outstanding, down from $4.9bn in October 2014 when it made a previous $1.5bn payments tranche, and $6.4bn prior to this. MEES calculations based on figures provided by the companies themselves give figures around $1bn higher than this: around $7.4bn at the end of 3Q...

    Volume: 58
    Issue: 02
    Published at Fri, 09 Jan 2015