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Sabic Output At Record High In 2016, But Net Income Lower In ‘Pivotal Year’
...an halving in oil prices far better than it did in 2009, when a more modest fall in oil prices saw earnings collapse to just $2.42bn (see charts). Net income has fallen every year but one since 2011’s record $7.80bn despite steadily rising output since. Production numbers are somewhat confusing as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...her in the Arab Spring in 2011, Tunisia has been seen as the last best hope of an Arab democratic transition, prompting international donors to pledge financial support. TUNISIA- IMF FORECASTS: REPEAT DOWNGRADES TO PAST PROJECTIONS UNDERMINE FORECASTS OF FUTURE IMPROVEMENT ON GR...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...proved contractual framework” at its key Algerian development project, 180mn cfd Timimoun, in which it has 37.75%. Sonatrach has 51% and Spain’s Cepsa the remaining 11.25%. (Total owned 50% of Cepsa until 2011 when it sold to Abu Dhabi sovereign wealth fund IPIC.) Start-up at Timimoun, a key element of...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...untry’s other means of covering its deficit is to draw down its foreign reserves. These had shrunk to $514bn at end-February – the lowest since 2011: they were $593bn a year earlier and peaked at $732bn at end-2014 (see chart). The sukuk helps to alleviate pressure on these foreign reserves. Moody’s as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017