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Flaring Advances Ignite Iraq’s Gas Sector
...oject, but Iranian officials claim it will be completed within weeks. How optimistic an assessment this is remains unclear. The second deal was signed in 2013 and is also for 10 bcm/year, beginning in 2017. It is to supply the 1.46GW Rumaila, 1.25GW Shat al-Basra and 500MW Najibiya power plants in Ba...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Crude Price Gains Further Reduce Incentive For Output Freeze
...at low prices are taking a toll on US shale output, moving the market back towards balance. The US government’s Energy Information Administration now estimates that the country’s output will fall by 830,000 b/d this year and a further 560,000 b/d in 2017 (see p24). The risk is that recent price ri...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Eni: Unlikely Libya Boost Returns North Africa To Center Stage
...Italian firm Eni saw its North African output rise to a record 38% of its 2015 total. The key boost came from a somewhat unlikely corner – Libya. The region will if anything increase in importance for Eni going forward with first gas from its giant Egyptian Zohr field slated for late 2017...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Corporate Profile: OMV Looks To Iran To Re-Boot MENA Portfolio
...s) out to 2020 despite taking a further ax to exploration spending. 2015 spending of €607mn on exploration was already down by 12% on 2014’s record €693mn. OMV plans a 26% cut to €450mn this year with a further 33% cut to €300mn for 2017 (and this figure maintained for 2018). Overall capex fell from €3....
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Saudi Plans $10bn Loan, First Since 1991
...ternational borrowing by Saudi Arabia, combined with the domestic debt issuance could push the general government debt to 9.4% of GDP in 2017, compared to 1.5% in 2014, due to the plunge in oil prices. Longer term, the issue of international sovereign debt will support the development of a market for Sa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
US 2016 & 2017 Crude Output Forecasts Have Been Revised Down By Almost 500,000 B/D In Just The Last Two Months... With Output Now Set To Contract By 830,000 B/D This Year And 560,000 B/D In 2017
...EIA FORECASTS FOR US CRUDE OUTPUT (MN B/D, BY DATE OF FORECAST) US CRUDE OUTPUT GROWTH (‘000 B/D) ACTUAL FOR 2013-15, LATEST EIA PROJECTIONS (APRIL STEO) FOR 2016 & 2017....
Volume: 59Issue: 16Published at Fri, 22 Apr 2016