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Saudi Aramco IPO Plans Progressing But Key Challenges Lie Ahead
...7bn) in 2017 in order to spur economic growth following 2016’s sluggish 1.2% rise in real GDP. The government is looking to narrow the budget deficit to SR198bn ($53bn) in 2017 (MEES, 6 January). “Saudi Arabia will need to make sure the fiscal regime does not discourage investment in the IPO. Back in...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Abu Dhabi Finalizes Onshore Concession With Chinese Partnership
...CO CRUDE OIL PRODUCTION (‘000 B/D) SOURCE: ADCO, MEES. ADCO TARGET FADING AWAY? Abu Dhabi plans to increase Adco production capacity to 1.8mn b/d during 2017. But with current capacity at around 1.66mn b/d, this target is unlikely to be achieved. Along with development plans be...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Kuwait: Subsidy Row Presages Return To Disruption As Usual
...June 2017 (MEES, 11 July 2014). Al-Rai reports that GC-31 is 15 months behind schedule and that Kuwait Oil Company is considering imposing a fine of up to 10% (KD25mn-$82mn) on the firm. Dodsal submitted the second lowest initial bid for the Al-Zour pipeline. Larsen and Toubro submitted th...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Gulf Crude Burn: Saudi Arabia Leads Fall From Sky-High Levels
...sit gas processing plant (providing 1.7bn cfd sales gas) in Q2 2016 and fuel subsidy cuts crimped demand. • 2017 should see further gains as Wasit will be operational for the full year, especially if the government follows through with further planned subsidy reforms. • The numbers are ha...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Saudi Arabia Reaps Benefits Of Downstream Investment
...the ramp up of output from two new 400,000 b/d refineries during 2013-15. This brought Aramco’s total domestic refining capacity up to 2.90mn b/d. With last year’s record intake hit despite a run rate of just 75%, new refining records are very possible in 2017, although planned maintenance and up...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Baghdad-Erbil Refining Deal Signals Pragmatism Winning Out
...eventing the onset of exports (MEES, 13 January 2017). While the current gas standoff highlights the potential obstacles to the Basra-Abadan pipeline, the second planned pipeline is far more ambitious. This would link the NOC fields in Kirkuk with Iran, most likely to the 110,000 b/d Tabriz re...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Mubadala Restructured
...irate’s “most significant investment companies into one global investment power house,” and will provide “commercial opportunities across more strategic sectors all over the world.” The new company’s CEO Khaldun Khalifa al-Mubarak – legacy CEO of Mubadala – says he expects to begin operations in May 2017. ...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Shell’s Take On LNG In 2016
...2016 LNG IMPORT GROWTH (MN T): EGYPT JORDAN, PAKISTAN ARE IN THE TOP 5. ALL HAVE SHAKY FINANCES... SOURCE: SHELL 2017 LNG OUTLOOK (USING DATA FROM IHS, MOODY’S, FITCH), MEES. ...PUSHING DOWN THE AVERAGE CREDIT RATING OF GLOBAL LNG BUYERS... ...AND BOOSTING TR...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017