1. Oman Rounds Out 2017 With Solid Export Revenue Gains

    ...ound $61/B. If exports remain at 2017 levels, $61/B would bring in about $18bn in 2018 for oil exports alone versus $15.1bn for 2017. Meanwhile, a $70/B oil price would push oil export revenues north of $20bn for the first time since 2014 and could drive the budget deficit down as low as $750mn (MEES, 5 Ja...

    Volume: 61
    Issue: 04
    Published at Fri, 26 Jan 2018
  2. Egypt Refining Sector Start-Ups Will Reduce Imports, But Bill Will Keep Rising

    ...further slippage. Updates from Enppi suggest that the start-up schedules may be further delayed. Enppi is also building an asphalt unit for Suez Oil Processing Co (SOPC). When awarded the project in late 2014, Enppi anticipated completion in 2017, which suggests that 2018 is still achievable. Ho...

    Volume: 61
    Issue: 04
    Published at Fri, 26 Jan 2018
  3. Saudi Electricity Borrows $2.6bn To Fund Capital Projects As Debts Soar

    ...test loan is the firm’s largest from the international finance sector, it is dwarfed by a $13.2bn government ‘soft loan’ provided in 2014 (see table). The firm’s total stock of finance market lending is now almost double that sourced from the government. Nevertheless, money owed to the Ministry of Fi...

    Volume: 61
    Issue: 04
    Published at Fri, 26 Jan 2018
  4. Services Firms Are Looking Up In 2018: US The Key Driver, Mideast Solid

    ...lliburton both posted an increase in revenue in 2017 bolstered by increased activity in North America. Schlumberger saw revenue increase from $27.81bn in 2016 to $30.44bn in 2017 although that is still some way shy of 2014’s record $48.58bn. Schlumberger was the only firm of the three that managed to po...

    Volume: 61
    Issue: 04
    Published at Fri, 26 Jan 2018
  5. Algeria Notches Up $11bn 2017 Trade Deficit; Total Since 2015 Hits $45bn

    ...end crude hit $64.74/B, the highest since November 2014. December’s monthly deficit, at $490mn, was below $500bn for only the second time this year. ‘Import cover’ (the value of exports as a percentage of imports) rose to 88%, well up on the 2017 average of 75%. Revenues will have continued to rise wi...

    Volume: 61
    Issue: 04
    Published at Fri, 26 Jan 2018