1. Algeria’s Economic Sclerosis: Political Change Is Not Enough

    ...2017. ^INCLUDES VOLUMES TO SPAIN AND ITALY. TURKEY AND FRANCE HAVE BEEN ALGERIA'S TOP TWO LNG CUSTOMERS SINCE 2015. SOURCE: JODI, IEA, CORES, SNAM, SONELGAZ, OPEC, MEES ESTIMATES & CALCULATIONS.   SCLEROTIC MODEL Prices for Algeria’s light sweet Saharan Blend crude averaged $110/B for th...

    Volume: 62
    Issue: 12
    Published at Fri, 22 Mar 2019
  2. Oman Looks To Foreign Firms and Downstream To Combat Economic Woes

    ...t of the way early in issuing a $6.5bn bond, its largest ever, in January as Oman will likely have to offer higher rates following the downgrade (MEES, 2 February). Despite the concerns, the very reliance on oil and gas (about 77% of total revenues in 2017), means the hydrocarbons sector is cr...

    Volume: 61
    Issue: 12
    Published at Fri, 23 Mar 2018
  3. Fitch Downgrades Saudi, Increasing Headwinds For $15bn Bond Plans

    ...reign assets as of end-January falling below SR2 trillion for the first time since October 2011. At $524bn they are 30% below the record $746bn level hit in mid-2014 (MEES, 10 March). The country’s 2017 budget projects a whopping $53bn deficit, albeit down by a third from 2016 (MEES, 6 January). Fi...

    Volume: 60
    Issue: 12
    Published at Fri, 24 Mar 2017
  4. Lebanon Raises $3bn In Record Bond Issue

    ...Lebanon on 21 March raised a record $3bn through a Eurobond issue which was six times oversubscribed with offers of $17.8bn. As such Lebanon has raised the full $3bn of Eurobond debt authorized by parliament for 2017. Some $600mn was raised from foreign banks and financial institutions, wi...

    Volume: 60
    Issue: 12
    Published at Fri, 24 Mar 2017
  5. Morocco Targets Further Subsidy Reductions

    ...e predicted to fall below 3% of GDP by 2017 (see graph). Rabat in February ended subsidies on gasoline and fuel oil and started to cut diesel subsidies significantly as part of its drive to lower the deficit (see table). Last September the authorities started to implement a mechanism to index th...

    Volume: 57
    Issue: 12
    Published at Fri, 21 Mar 2014