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Opec Revenues Fall By $160bn In 2023
...op, revenues were still the second highest on an annual basis since 2014. Last year saw the market stabilize following the disruption caused by Russia’s early-2022 invasion of Ukraine. Russian supply proved robust, US output boomed, and demand growth was historically strong at more than 2mn b/d. But su...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Oman Oil Output Hits New Heights In Q1 As Revenues Soar
...allenged. Said Bader al-Kharusi, the Executive Director of the North Oil Directorate at the Shell-led, part-state owned Petroleum Development Oman (PDO) stated in late March that the “government aims to benefit from [current] oil and gas prices’ by maximizing production output.” REVENUES SOAR TO 2014 LE...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Libya’s 2019 Budget: Fact or Fiction?
...y new hires since 2014 – when it came into being – it also funds the Libyan National Army (LNA), which has been busy in recent months adding swathes of territory to its control (MEES, 22 March). To cover its running costs, the eastern ‘government’ has sold $23bn in bonds since 2014 (purchased by it...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Gulf Bonds In 2018 Another Bumper Year?
...sued in primary market deals in 2017; until 2014, the biggest buyers of Middle Eastern bonds were the local banks buying mainly for their asset and liability management (ALM) books, with almost 80% of the bonds issued being held by local banks’ ALM books, small family offices and local private bank cl...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Egypt Unveils Development Plan To Revive The Economy
...nance development projects on the Sinai Peninsula (MEES, 25 March). Gulf countries have been keen to give their assistance to Egypt following the 2013 ouster of former President Muhammad Mursi and have pledged more than $20bn in aid and products since March 2014. Mr Isma’il urged parliament to co...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iran-Pakistan Trade Boost But Gas Line Still Far Off
...initiate work on its side." Pakistan was to import 750mn cfd (8.2 bcm/year) of Iranian gas from December 2014, but Pakistan claims that nuclear-sanctions on Iran prevented it from raising project finance. With Iran now released from the majority of sanctions, prospects for completion appear to ha...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Kuwait Trade Surplus Collapse
...a 3% fall in production as Kuwait was hit by the progressive outage from late 2014 of production from the Neutral Zone it shares with Saudi Arabia (see p4). In dollar terms oil revenue was down by 48% at $48.7bn, a mere 45% of 2013 takings. And things could get worse. For the first three months of...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Outlines 2015-16 Budget Guidelines
...dicators have shown some signs of improvement recently, the ministry noted, with GDP growth in the first half of the 2014-15 (July-December 2014) rising to 5.6% from 1.2% in the corresponding period of the previous year, and unemployment falling slightly to 12.9% in December 2014 from 13.4% in June 2014. Th...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Qatar’s Spending Spree Set To Continue
...ojections are prorated on the basis of 3/4 of their estimates in the current fiscal year ending on 31 March 2015. A law was issued earlier in March to extend the current fiscal year which runs from 1 April 2014 to 30 March 2015 by nine months until the end of 2015, instead of announcing a new budget fo...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Algeria Returns To Expansionary Budget In 2014
...ALGERIA Algeria Returns To Expansionary Budget In 2014 Algeria has adopted an expansionary budget for 2014 after cutting 2013 budgeted spending. But the projected 2014 spend is still well down on the bumper 2011 spend, when Algiers attempted to stave off calls for po...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Kuwait Eyes 2014 Surplus
...KUWAIT Kuwait Eyes 2014 Surplus In its 19 March Economic Update, the National Bank of Kuwait (NBK) projects a surplus of KD9.3bn ($22.0bn) for Kuwait’s 2014-15 draft budget before allocation of the mandatory 25% of budget revenue to the Reserve Fund for Future Generations (RF...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014