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Keystone Cops It From KRG Revenue Collapse
...ntinue as a going concern,” it says. The company faces a struggle to rustle up the cash for two $26mn payments to bond holders due in April and October. Along with bond maturities in 2017, the firm has “almost $600mn to settle in about a year from now.” Current cash reserves are $50.6mn. The need to...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
India Presses Buyers’ Advantage In Oversupplied LNG Market
...though there is probably more potential upside than downside to the forecasts given the expectation that these low prices will persist. We forecast another 2.4mn tons (15%) increase year-on-year of gas imports in 2017,” they say. The successful renegotiation with RasGas has now set a precedent and gi...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Turkey’s Tüpraş Racks Up Profits, Maxes Output As Runs Of Iraqi Crude Double
...anned. However, Azeri state firm Socar is building the 200,000 b/d capacity Socar Turkey Aegean Refinery (STAR) at Aliaga, for integration with the Petkim petrochemicals complex. Start-up is scheduled for 2017 and the project is expected to cost $5.5bn. Turkey’s Calik Enerji has also proposed a 30...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Moroccan Renewable Plans Have Wind In Their Sails With 2GW Target In Sight
...hicles’” to develop the projects. Enel says they are expected to be completed and brought online between 2017 and 2020. Electricity generated in the five wind farms will be sold to ONEE under 20-year power purchase agreements. Enel says it will have a 50% shareholding in the projects, comprising a mix of...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Oman Desalination Contracts Signed
...mbined capacity of 530,000 m3/day – equivalent to more than 70% of Oman’s current desalination capacity of 740,000 m3/d – are among a number of projects with a combined desalination capacity of 730,000 m3/d which OPWP intends to bring online during 2017-19. The 280,000 m3/d Barka Phase 4 project will be Om...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Will Oil Price Rebound Delay Market Balance?
...non-Opec output projections in general and those for the US in particular (see graph, MEES, 11 March). The US government’s Energy Information Administration’s latest Short Term Energy Outlook, released last week, revised down its projections of 2016 and 2017 crude output for the fifth month ru...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Oman Presses On With Key Energy Projects Despite Revenue Slump
...l-time record of 73; in the MENA region only Saudi Arabia is running more rigs (see graph and MEES, 11 March). Some 10 of these rigs are working on the BP-led Khazzan gas project which the major says is on target for first gas in 2017 ramping up to 1.5bn cfd plateau from 2020 (MEES, 11 March). LI...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Kuwait Plans Economic Reforms In Light Of Revenue Collapse
...soline in Kuwait. Additionally the reform plan envisages the rationalization of water and electricity subsidies, but that this will not happen before 2017, he notes. Kuwait’s latest budget envisages spending on subsidies of KD2.9bn ($9.6bn) for the 2016-17 financial year, down 22% in real terms (19% in...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016