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Kuwait Bullish On Contract Award, But Quietly Shelves Production Target
...e p10 and MEES, 1 April). While production capacity is planned to rise to 3.165mn b/d by March 2017 according to Mr Jafaar, officials maintain that production will remain flat. This implies that Kuwait does not foresee full production from the currently shut in Partitioned Neutral Zone (PNZ) wi...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt: Receivables Worries Risk Choking Off Exploration Boom
...dependent Petroceltic’s 50% stake in both (MEES, 19 February). The commitment for North Thekah is $170mn with two wells (MEES, 3 January 2014). No wells have yet been drilled on either block, though Edison recently said it “plans drilling North Thekah towards the beginning of 2017. We would consider dr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Aramco/Sabic Make Up With Plan For Joint Oil-To-Chemicals Project
...nuary). Last week Prince Muhammad said that he is pushing for the Aramco IPO in 2017, and that while less than 5% equity will be offered in Aramco and its subsidiaries, Aramco’s shares will first be transferred to the PIF. In this way the PIF will “technically make investments the source of Saudi go...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Secures Saudi, UAE Funding For Power Expansion, Awards Wind Projects
...enty 2MW turbines – to be installed at an existing 200MW Gamesa-built wind farm. Gamesa says delivery of turbines for the larger project will begin in October for commissioning in third quarter 2017. Deliveries for the smaller project will begin in the third quarter for early 2017 commissioning. Ga...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Jordan: Wind Gathers Pace In Bid To Diversify
...nstruction in 2017 with a view to first electricity generation in 2019. Start-up of the Elecnor plant takes Jordan’s installed generating capacity to 4.72GW, after the 99MW Hussein steam turbine plant was decommissioned in January. It is Jordan’s second wind farm following the JWPC consortium’s 117MW pr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Oil Market Inches Towards Balance, With Or Without Deal
...imb until they begin to be worked off in 2017. And the IEA acknowledges that its Q2-Q4 2016 numbers for Opec output are “conservative,” factoring in only relatively modest gains for Iran as financial sanctions continue to stymie its marketing efforts. Libya could also surprise on the upside for 20...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
KRG: Prompt March Payments Boost IOC Outlook
...upon payment is due in October, while payments totaling $575mn are due in 2017 when the bonds mature. If regular payments from the KRG continue, GKP can expect to receive $13.6mn a month. It would need to save around $2.7mn of this in order to meet both the April and October payments while keeping $32...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016