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Services Firms Eye Mena Resilience Amid US Shale Collapse: Is This Realistic?
...venue resilience? They are evidently hoping for a repeat of the previous 2015-16 capex downturn (after oil prices collapsed in late 2014) when Mideast NOCs kept spending counter-cyclically whilst IOCs, in particular those focused on US shale, slashed their outlay (MEES, 29 April 2016). Indeed, lower co...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Israel Orders Noble & Delek To Play Fair
...osshairs. In 2014 Noble and Delek were ruled to be operating as a cartel in Israel. An eventual compromise deal saw them forced to sell Karish and Tanin to Energean (MEES, 19 August 2018), whilst Delek must quit Tamar by the end of next year. It has a direct 22% and also a 23% stake in Tamar Petroleum, a sp...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Libya’s Financial Vulnerabilities Laid Bare By Dwindling Oil Revenue
...consultation with Libya’s internationally recognised Government of National Accord (GNA) based in the capital. STATE FAILURE Such is the level of state failure in Libya, that since a political crisis in 2014 it has had two rival governments, two central banks and two national oi...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Saudi Arabia Announces Borrowing, Reserves Draw-down Plan
...is was followed up by an $81bn drop in 2016 and a $39bn drop in 2017 as reserves fell from $732bn at the end of 2014 to $496bn at the end of 2017. Foreign reserves have since stabilized, but not significantly grown, exiting 2019 at $500bn, and declining slightly in early 2020. If Saudi Arabia fo...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020