- Sort by:
- Score
- Published ▼
-
KRG Accelerates Payments But Suffers Further Production Setbacks
...ssavar-Rahmani says he expects 2017 output to average around current levels of 110,000 b/d. The firm plans 2017 capital investments of $100mn across its portfolio, with 65-70% of this earmarked for the KRG, and the remainder in Oman. The firm initially planned capex of $100mn for 2016, before re...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Dana Gas Restricts Egypt Investment As Receivables Rise In 2016
...st year, and we must therefore balance further investment in the country with collections going forward,” he says. The company’s overall finances are another reason for it to tighten its belt: “with Sukuk maturing in 2017, cash management remains a key priority,” it says. The firm’s cash balance wa...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Egypt Lays Out The Road To Gas Balance
...). Cairo plans to invest some $9.9bn to boost Egyptian gas production to 5.85bn cfd by the end of the country’s 2017-18 financial year in June 2018. As Oil Minister Tarek El Molla notes, this would mark a 50% hike from the 9-year low of 3.89mn cfd plumbed in May 2016. Output will “double” from mi...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Egypt Secures 2017 LNG Needs
...Cairo moved this week to lock-in its gas needs for 2017 by signing a deal to take up to 45 LNG cargoes from Russian state oil giant Rosneft, France’s Engie and Oman state refiner Orpic’s commercial arm OTI, in a deal worth $1bn according to Oil Minister Tarek El Molla. This adds to the 12...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
LNG: Australia Soars Past Qatar As #1 In East Asia
...pectation has to be that prices will again fall back with winter buying now over – especially seeing that key spot buyer Egypt now appears to have filled its 2017 requirements (see p5). ASIA’S ‘BIG 3’ see collective LNG IMPORTS rise 3.5% IN 2016 ON LATE-YEAR BUYING SURGE (MN TONS) SOURCE: IM...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Shell Sees Qatar’s Pearl GTL Plant Offline For ‘A Couple Of Months’
...Shell anticipates that its Pearl gas-to-liquids (GTL) plant at Ras Laffan in Qatar may be offline into the second quarter of 2017 as it works to fix a problem with “some or all” of the plant’s 18 gasifiers. The problem came to light in late December, when the Anglo-Dutch major announced that it...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Falih Takes Charge Of Saudi Renewables, Sets Schedule For Solar & Wind Tender
...P) Dhuba-1 (605MW) ISCC 50 2017 SEC Waad Al-Shamal (1.39GW) IS...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Opec Cuts 860,000 B/D Output, More Work Required
...Opec cut crude production by 860,000 b/d in January, the largest monthly fall in nearly three years, but remains 570,000 b/d above its H1 2017 output target. Oil prices have dropped around $1/B since the start of February but remain comfortably above $50/B, suggesting that the markets are co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Middle East Drilling Remains Strong Despite Low Oil Prices
...The boom in US shale drilling in recent months has seen the country move to center stage in 2017 upstream spending plans (MEES, 3 February). But activity in the Middle East, the one region not to have seen a downturn over the past two years, remains robust. Since the mid-2014 oil price co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Iran’s Post Sanctions Success Threatened By Trump Storm Clouds
...y 2017 has long been flagged up as of crucial importance as it is the date Iranians go to the polls to decide whether President Hassan Rohani will serve a second term. Hardliners opposed to Mr Rohani’s efforts to open up will be looking to unseat him. But one development that was certainly not given mu...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
NOC Charm Offensive To Encourage Resumption Of Investment
...vestment in the country. According to NOC projections shared by chairman Mustafa Sanalla at London’s Chatham House in late January, the state firm is targeting oil production of 1.25mn b/d by the end of 2017 (see chart 1). If NOC meets its objectives, Libya will average just short of 800,000 b/d in Fe...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
OMV Expands in Libya With Purchase Of Oxy Zueitina Stake
...175,000 b/d from the field in the near future. OMV also has a share in production from the small Shatira field (Block NC163, Area 106) which has capacity of about 1,100 b/d. OMV expects its Libya production to reach an average 10,000 b/d in 2017, said the 2 February statement. “Subject to on...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Iran’s Banking Reforms Delayed By Government Bickering
....6bn in August 2013. The cabinet in January approved the allocation of $3.8bn from the CBI’s surplus assets to reduce the government debts to a number of banks. Meanwhile the CBI has ordered all banks to draw up annual financial statements by 20 March 2017 in accordance with International Financial Re...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Dubai Seeks $3bn Airports Loan
...sorting to borrowing to ensure that key projects keep moving. The emirate’s 2017 budget projects a small deficit of $681mn, or 0.6% of Dubai’s GDP, unlike previous years of balanced budgets (MEES, 13 January). Dubai is pressing on with plans to boost its already flourishing tourism sector by aiming to at...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Qatar: No Need For New Bonds
...Qatar may not need to issue an international bond in 2017 as pressure on the emirate’s state finances is easing, Finance Minister Sharif al-‘Imadi said this week. The minister added that with oil prices “close to breakeven levels,” though a new bond issue remains an option for 2017, no de...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Oil Markets: A Turn Away from Trade?
...ternational oil trade, which has made petroleum the model of a highly functional global market. The 2015 lifting of the US ban on crude oil exports may go down in history as the capstone of the era of global oil trade (MEES, 23 December 2016). As we sit here in 2017, two developments threaten that mo...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017