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IMF: Saudi Fiscal Reforms A Positive Step, More Needed
...pressing economic growth in the private sector and curtailing non-oil economic activity, as many companies in this sector depend on public sector spending. The IMF therefore expects growth in 2016 to average 1.2% and rise to 2% in 2017, down from 2015’s 2.8% and 2014’s 3.5% (MEES, 22 January). Ad...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
Iraq Pledges Higher Oil Exports Despite Market Pressure
...r production capacity of 8.5-9mn b/d by 2017, having already lowered its sights from the initial target of over 13mn b/d when the first oil auction was launched at end 2009. Mr ‘Abd al-Mahdi said after meeting Turkish Energy Minister Taner Yildiz in Baghdad, that SOMO would export 375,000 b/d th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman’s Abu Tabul Gas Starts Up
...eded short-term gas supplies, ahead of the planned 2017 launch of the 1bn cfd Khazzan tight gas project on Block 61. Despite overseeing a significant hike in gas output over the past decade, Oman faces a mounting domestic gas shortage, in the face of rampant domestic demand from the power, water de...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Saudi Capacity Tops 2.9mn B/D As Yasref Ships First Products
....5 Sinopec Total Capacity 2,905 Jazan 400 2017 100 En...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Egypt Plans 20GW Of Extra Coal Plants, 4.3GW Renewables
...esel ^2015 Suez EEHC 650 Oil 2016 Damietta West* EEHC 250 Gas 2017...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
OPEC Puts Russia On The Spot, Again
...rol, said during the same panel discussion in Davos that oil and gas upstream investment in 2015 is expected to decline by around $100bn, or by 15%, with a big chunk coming from the high cost areas. This, he says, will have implications, maybe not immediately, but in 2016 and 2017 should demand pick up an...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
MENA Youth Unemployment Chronic-ILO
...nkings out to 2017, according to the ILO’s projections (see graph). The ILO blames “tepid” MENA economic growth of 2.6% for 2014, due to “difficult political transitions, security challenges and rising regional conflicts,” for the lack of jobs. Though the ILO projects that growth will edge up to 3.8% fo...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Egypt To Tap Bond Market
...tional Bank of Egypt announced earlier in the week that it is lending E£3bn ($416mn) to the Egyptian government to help finance the 1.95GW South Helwan Power project, due to start up in 2017, and an upgrade of the 650MW power plant at Assiut operated by EEHC. Egypt has ambitious plans to more than double it...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Gas The Priority For Iran’s New Oil Team
...an’s oil production, which, given the age of many of its key fields, is reliant on ever-increasing volumes of re-injected natural gas to maintain output. Five By 2017 A more likely scenario envisages the five phases in question to be complete by mid to late 2017. Sour gas production from Ph...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Upper Zakum Extended, Terms Sweetened
...vember, ADNOC unveiled a plan to boost Upper Zakum production from current levels of about 585,000-590,000 b/d to 1mn b/d. Prior to the announcement, ZADCO had planned to push production to 750,000 b/d by 2017. It is unclear when the consortium expects to hit the 1mn b/d target; Inpex said in a statement th...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
QP: What’s Next?
...d the structural changes QP itself has undergone, one option for the company is to further develop the downstream domestic market. QP will have completed its planned petrochemical base when the $6.5bn, 15mn tons/year monoethylene glycol plant (QP 80%, Shell 20%) starts up in 2017. It could build mo...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
SEC Profits Up 20% In 2012
...ne in 2015. SEC is also working with partners on four independent power producer (IPP) projects: 1.2gw Rabigh-1 and 1.729gw Riyadh PP11 are due on line in 2013; 4.0gw Qurayyah is scheduled for 2014; and 1.81gw Rabigh-2 is slated for completion in 2017 (MEES, 18 January). SEC’s fifth planned IPP will be...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Where The Sun Shines
...els for power generation and an expected 26% demand increase by 2017 will reverse the trend. Political determination is required to fully tap into the region’s abundant solar resources. Under IHS’s moderate growth scenario, current political unrest and lack of policy will result in 23gw of added PV ca...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Abu Dhabi Continues Uncertainty Over 1.4Mn B/D Concession
...nger operate (MEES, 10 October 2011). The consortium’s target is 1.5mn b/d production capacity by 2017. The SPC will approve bidding guidelines before their release by ADNOC. Mr Suwaidi said they will state the available equity and the desired number of shareholders. Companies will submit bids to AD...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Sudan Admits To Confiscating South Sudan’s Oil As Dispute Talks Resume
...ing anything. Even their rights of ownership to these blocks are in question,” he said. South To Double Its Oil Output By 2017 South Sudan’s Minister of Petroleum and Mines Stephen Dhieu Dau also announced that the country had set out plans to double its oil production to 700,000 b/d in the ne...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
CERA Sees Worldwide Oilfield Decline Rates Lower Than Consensus At 4.5%
...is new analysis provides the basis for more confidence about the future availability of oil.” He added that annual field decline rates were not increasing with time, and with anticipated new developments, “liquids capacity of around 91mn b/d in 2007 could climb to 112mn b/d by 2017. This outlook is...
Volume: 51Issue: 04Published at Mon, 28 Jan 2008 -
Egypt To Develop Discovered Fields and Extend Gas Distribution NetworkIn 1999
...cently established to manage and expand the national grid. Expansion to over 6,000 kms. of pipeline is expected by the year 2017. Most of this increased production will feed additional power generation facilities, and a number of petrochemical projects. The government hopes that the private sector will pa...
Volume: 42Issue: 04Published at Mon, 25 Jan 1999