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Egypt Plots Upstream Revival, If It Can Find The Cash
...,500 b/d for 2017 as a whole with a planned $40mn capex spend. Its receivables had fallen to $14.4mn by September 2016, down from a peak of $216mn in Q3 2014. The firm expects to recoup between $15-$17mn from the sale of 350,000 barrels of oil production in Q1 this year, implying around $45/B, or a $10...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Algeria’s Sonatrach Lines Up Majors For Petchems Projects
...d 9 bcm/year (870mn cfd) of output by the end of 2017. However, Sonatrach’s petchems plans – if all occurred as planned – would add over 650mn cfd to Algeria’s gas-based feedstock requirement by 2021. This need for gas, coupled with a major capital requirement, will likely thwart any rapid pe...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Oman Lines Up 11 Companies For Misfah Power Project, Eyes Import Options
...ectricity generated and expects the project to be ready for operation in the third quarter of 2017. ROOFTOP SOLAR Oman is also looking to encourage building owners to install small-scale solar photovoltaic (PV) systems – typically these are installed on rooftops – so they can meet their own power ne...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Opec Cuts: US Shale The Early Winner
...ot in the arm as majors and US-focussed independents begin to announce their 2017 spending plans. As recently as September, the IEA was flagging up the potential for a third straight year of capex cutbacks in 2017 (MEES, 16 September). But the mood has shifted markedly, partly due to the jump in pr...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Services Firms See Light At End Of Tunnel, In US At Least
...lliburton lost $53mn while Baker Hughes lost $14mn. But Mideast resilience is last year’s news. For 2017 the firms’ focus is back on the US, and the Permian shale formation in particular (see p8). US REBOUND TO BOOST PROFITS… Schlumberger says it expects an increase in upstream and E&P activity th...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Kuwait Budgets For Lower Deficit In 2017-18
...Kuwait projects a healthy 30% revenue hike for the 2017-18 financial year (beginning 1 April). The deficit will fall by 18.4% from the 2016-17, according to preliminary details on the state budget approved by the Kuwait cabinet this week. The budget still has to go before parliament, which ca...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Egypt Bonds: Looking East
...murai bonds,” without specifying how much his country will seek to borrow. Mr Garhy says the proceeds of January’s bond issue, which was more than three times oversubscribed, has helped his ministry to plug the budget gap for both the current 2016-17 fiscal year (ending June 2017) and part of the an...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Thai Crude Imports 2016 (000 B/D): Record Opec Volumes, Saudi Closes On Uae As Top Supplier
...*OPEC NUMBERS INCLUDE INDONESIA FOR 2007, 2008 AND 2016 ONLY. INDONESIA'S MEMBERSHIP WAS SUSPENDED FROM 1 JANUARY 2017. ^CHANGES EXPRESSED ON A PERCENTAGE POINT BASIS. SOURCE: THAI CUSTOMS, MEES CALCULATIONS. RECORD 2016 OPEC SHARE IS PARTLY THANKS TO IN...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Kufpec Shells Out In Thai Expansion
...ere first oil is expected in the second quarter of 2017, and 9.4% in the Sleipner West producing field. Kufpec says the new Norwegian assets add 46mn boe of net reserves with 9,000 boe/d of production backdated to 2016 and with production expected to rise to 13,000 b/d once Gina Krog comes on...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017