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Saudi Arabia Prioritizing Downstream Amid Production Curbs
...ll to 13.4% in 2016 after holding steady at around 20% between 2008 and 2013. More worryingly for Riyadh, it was overtaken as top supplier by Russia for the full year. It has regained top spot in the first two months of 2017, with China taking more than 1mn b/d in both months. During the first tw...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iraq Fires Up 1GW Gas-Fired Capacity But Is There Enough Gas?
...anks to an increase in wellhead output, from 2.06bn cfd in 2013 to 2.91bn cfd for the first two months of 2017, and an increase in the proportion of this gas that is captured – though over 60% of wellhead output is still flared. For 2015, the last year for which fully comprehensive data is av...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Opec’s Balancing Act Becoming Increasingly Precarious
...COURSE FOR Q4 2017... (CUMULATIVE 2017 STOCK DRAWDOWN MN BARRELS) ...BUT OPEC’S LATEST NUMBERS SHOW THE FINISH LINE GETTING FURTHER AWAY *BASED ON OPEC SEC-GEN STATEMENT THAT REBALANCING REQUIRES 270MN BARREL STOCKDRAW. SOURCE: OPEC, IEA, MEES. IEA SUPPLY & DE...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...tes, Tunisia’s economy faces major challenges, as “fiscal and external deficits reached record levels, the wage bill as a percentage of GDP has climbed to one of the highest in the world, and public debt further increased to 63% of GDP at the end of 2016.” He went on to say that growth in 2017 is ex...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...Algeria’s plans to open up a new gas province in the southwest of the country, is now scheduled for mid-2018, the Total spokesperson says. This latest date marks a further delay on the previous estimate of 2017 (never mind the most recent official Algerian date of 2016 – MEES, 17 February). Mi...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...tempt to sweet-talk Saudi officials. The 2017 Saudi budget projects a whopping deficit of $53bn, albeit down from the record figures of $79bn and $96bn in 2016 and 2015 respectively (MEES, 6 January). Though Saudi Arabia does not disclose its budget oil price assumption, local investment bank Ja...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017