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Abadi Claims KRG Pipeline Deal As Trucking Plans Fade
...tting first pick of depleted Kurdish volumes. Iraq plans to build its own pipeline to Fishkabur on the Turkish border to replace its 1.5mn b/d link destroyed by Islamic State in 2014. But this would not be operable until 2020 at best. Abdul Mahdy, head of the oil ministry’s contracts division, said on...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Algeria Gas Set For Record 2018 With Start-Up Of Key Southwest Fields
...msung Engineering was the lead construction contractor, having won an $800mn lump sum turn-key engineering, procurement, construction and pre-commissioning contract in February 2014. Total last month doubled down on its commitment to Algeria in the wake of its recent acquisitions of Maersk (planned fo...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Global LNG Trade Hits New Records. More To Come?
...ated to enter service. This reflects the lagged impact of a collapse in investment in liquefaction capacity from a peak of $30bn in 2014 to a mere $3bn for 2017. Shell sees a “potential… supply shortage developing in mid-2020s, unless new LNG production project commitments are made soon…Without new in...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Noble East Med Plans Gather Pace
...d on target for late-2019 start-up, the company says. The sanctioning of the deal in February last year was a “major milestone” for the company after Israel’s upstream remained in stasis for over two years from late 2014 awaiting the result of an antitrust case (MEES, 2 January 2015). The fi...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Middle East Adjusts To Trump’s Foreign Aid Game
...e 1978 Camp David accords, the US has given Egypt an average of $1.6bn/year in foreign aid, with the lion’s share, an average of $1.3bn going to the Egyptian military. The US slashed aid to Egypt by $1.4bn in 2014 following the coup d’état carried out against Muhammad Mursi’s democratically elected go...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Growing Saudi’s Non-Oil Economy: A Mirage In The Desert?
...onomy contracted 0.7% in 2017. Riyadh heeded this advice. Its 2018 budget projected a $52bn deficit, the largest since 2014, with plans to balance the budget pushed back to 2023. The idea now is that the resultant economic stimulus, alongside continued reforms, will facilitate non-oil sector gr...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018