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Egypt: Receivables Worries Risk Choking Off Exploration Boom
...oduction in the concession areas until the delayed payments are made,” he says. The government was hoping to have paid off its dues to foreign firms by the end of this year according to Prime Minister Sharif Isma’il, who made the comments in late 2014, when he was oil minister. But the collapse in oil pr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Appoints New Heads Of State Oil And Gas Firms
...-Badi’, who will become President of state investment firm Midtap. Mr Masry will be returning to EGAS where he served as deputy head for operations from February 2014 until his appointment as head of EGPC in October last year, taking over from the current oil minister Mr Molla. Taking over from Mr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Kuwait Seeks More LNG, Strives To Hike Domestic Gas Output
...Already the MENA region’s top LNG importer, Kuwait is powering ahead with plans to secure extra supplies to meet growing gas to power demand as it looks to capitalize on slumping prices. Prices have fallen by approximately $8/mn BTU to around $4/mn BTU since 2014 according to Kuwait Pe...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Aramco/Sabic Make Up With Plan For Joint Oil-To-Chemicals Project
...presents a big step along the way. Announcing the start up of the cracker in January 2014, ExxonMobil Chemical president Stephen Pryor told Reuters it is “by far the most feed-flexible cracker we’ve ever built. It can crack anything from light gases to heavy liquids, including crude oil.” Sabic has been st...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Secures Saudi, UAE Funding For Power Expansion, Awards Wind Projects
...eoretically give Egypt access to the GCC power grid, but - like the GCC grid itself - progress has been slow (MEES, 28 November 2014). Projects being discussed in tandem with much-needed funding include three coal-fired plants with a combined capacity of 4.62GW at a cost of $4.64bn, for which Cairo has si...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Jordan: Wind Gathers Pace In Bid To Diversify
...2014. The wind farm incorporates 40 of fellow Spanish firm Gamesa’s 2MW turbines. The original plan was to install 33 turbines totaling 66MW, but the ministry expanded the scope. Now Daelim and Kosco have formed the Daehan Wind Power project company to build a 49.5MW wind farm at Tafila, 140km so...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
2.2GW Gas-Fired Plant For Northern Emirates
...x plants totaling 1.15GW in 2013. Now only three are operational: 387MW Nakhil in Ras al-Khaimah and 116MW Ajman and 200MW Al-Zouraa in Ajman. In 2014 Fewa imported 11.1TWh of electricity from Abu Dhabi’s Adewa. Imports exceeded 2GW at peak demand times. Hence building the proposed plant would po...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Oil Market Inches Towards Balance, With Or Without Deal
...0,000 b/d on a year earlier (April 2015 marked the peak at 9.69), and the lowest since September 2014 (see p18). IEA SUPPLY & DEMAND FORECASTS, APRIL 2016 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, APRIL 2016 (MN B/D) NEGATIVE NUMBER INDICATES THAT OUTPUT IS MORE THAN THE CALL IM...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Libya Unity Government Faces Huge Challenges
...tions. Senior diplomats from first Italy (who sent foreign minister Paolo Gentiloni) and then the UK, France and Spain held face to face talks with the council in their first visits to Libya since EU embassies were closed for security reasons in 2014. There are some signs of political support for the co...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Iraqi Parliament Crisis Deepens Policy Paralysis
...ecting Mr ‘Abadi in 2014, and has generally stood by him in his fights with other Shia leaders. But, once it became clear he intended to remove all political figures from the cabinet, it turned sharply against him. The 2014 agreement had given ISCI three ministries, most notably oil, and they would not gi...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016