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Egypt Eyes More Gulf Cash After $35bn Lifeline UAE Mega-Deal
...ed for cash, this could prove politically sensitive given that Ras Gamila lies directly across from the uninhabited Red Sea islands of Tiran and Sanafir, which Egypt handed over to Saudi Arabia in 2017. The unpopular move was considered by many at the time as ceding sovereignty to Riyadh (MEES, 4 Au...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Oman Oil & Gas Revenues Flatline in 2019
...roughputs. On the refining front, the completion of the Sohar refinery project in late 2017, enabled Muscat to increase key products (diesel, jet-kero, gasoline, LPG) output from 170,000 b/d to over 220,000 b/d (MEES, 26 January 2018). This, combined with slowing growth in domestic consumption, saw key pr...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Growing Saudi’s Non-Oil Economy: A Mirage In The Desert?
...tervention Centre, which is working on the revamp, overall implementation of the NTP is still planned for 2020 but some targets will be pushed back to 2025 and 2030. Completion of the revamped NTP known as “NTP 2.0” was scheduled for the end of October 2017 according to the same document but has yet to ma...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE. ...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
IMF Warning Over Iran’s Recovery
...February). In the Article IV report, the IMF notes that the Iranian economy continues to register solid growth in 2016-17 on the back of higher oil production, with real GDP growth expected to reach 6.6% in 2016-17 before easing to 3.3% in 2017-18. In the first half of fiscal 2016-17 GDP gr...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
QP Petchem Merger
...16). Oil production has also been shaken up, with France’s Total being brought in to replace Denmark’s Maersk as operator of Al-Shaheen field from July 2017. Maersk’s 100% production sharing contract will be replaced by a joint venture involving Total (30%) and QP (70% – MEES, 1 July 2016). ...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
Oman Downgrades Threaten Bond Issue
...nancial assets amounting to only about three years of spending.” The downgrade comes as Moody’s cuts its oil price assumptions for Brent to $33/B in 2016 and to $38/B in 2017, rising only slightly to $48/B by 2019. The downgrading of Oman comes at an inopportune time as the country seeks to tap the in...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Egypt’s Qalaa Raises Capital
...the subsidiaries and business units that are best positioned to benefit from the economic recovery in Egypt. Qalaa Holdings energy investments include refining, energy distribution, power generation and renewables. The company key project is the $3.7bn construction by 2017 of secondary re...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Dubai’s DEWA Adding 700mw, Repays $1bn
...nerating capacity will reach 10.36GW of electricity.” M-Station expansion is one of three DEWA capacity additions under way. First is a 200MW solar photovoltaic (PV) plant, which is being built by Saudi firm ACWA Power and Spain’s TSK for start-up in April 2017 (MEES, 30 January). DEWA is also te...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015