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Bahrain Plans 2GW Wind Capacity
...y to net-zero by 2060. And the country’s 2017 National Renewable Energy Action Plan (NREAP) targets renewables capacity of 225MW by 2025 (equivalent to 5% of forecast peak demand) and 710MW (10%) by 2035. Bahrain’s current installed capacity is 5GW from a fleet of five thermal plants. Renewables ca...
Volume: 67Issue: 18Published at Fri, 03 May 2024 -
Saudi Deficit Shrinks As Capex Responsibility Switches To PIF
...F That government spending came in at $56.6bn in Q1, the lowest figure in three years, was largely due to a huge drop in capital expenditure (capex). At $4bn, capex was the lowest figure since the Ministry of Finance began releasing quarterly updates in 2017, coming in well below the previous low of...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Qatar Export Revenue Drop
...Qatar’s export revenues tumbled to their lowest levels since 2017 in Q1 with worse on the way. The petrostate’s export slate is dominated by oil and even more importantly gas. Q1 export revenues came in at $16.4bn. Of this 85% was from hydrocarbons, the lowest figure since 3Q 2017. Ov...
Volume: 63Issue: 18Published at Fri, 01 May 2020 -
Saudi Government Posts First Surplus Since 2014 In Q1
...rplus being unique for 2019. Indeed, Saudi Arabia does not plan on running a balanced budget until 2023, having decided in 2017 to abandon initial plans to balance the budget in 2020 at the behest of the IMF, which was concerned that the impact that such belt tightening would constrain economic gr...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
US Sanctions Hit Iran Hard
...eir return, as the mass protests in late 2017 and early 2018 highlighted (MEES, 19 January 2018). While the political leadership in the country is aware of the deficiencies in the economy, it has proven incapable of implementing suitable policies. ...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Algeria Slashes Oil & Gas Investment
...Algerian state oil firm Sonatrach is finally having to learn to live within its reduced means. Key oil and gas figures for 2017, released by Abdelmoumen Ould Kaddour, CEO of state firm Sonatrach on 2 May, indicate that the company, which dominates the country’s upstream slashed capex by 8....
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Egypt: $4bn Kuwait Relief
...tober 2017). This will afford Cairo some breathing space regarding its debt relief. With the $6bn from Egypt’s key Gulf backers rolled over, Cairo is now slated to repay $13bn to foreign creditors by the end of 2018, Mr Amir says. The three creditor states rushed to rescue Egypt in 2013 with ma...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Algeria Charts New Economic Direction. Is It Battling Against The Tide?
...LCULATIONS. ALGERIA FOREIGN CURRENCY RESERVES ($BN, END PERIOD) SOURCE: ALGERIAN CENTRAL BANK, IMF, APS. OIL PRICE VARIANTS For the short-to-medium term the plan presents two variant oil price scenarios: one takes conservative oil price assumptions of $40/B in 2017, $45/B in 2018 and $50...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Saudi Looks To Refocus Vision Reforms
...eaking at the Euromoney Saudi Arabia Conference 2017 on 2-3 May in Riyadh, Finance Minister Muhammad al-Jad’an said that the government has allocated more than SR40bn ($10.7bn) for NTP in the 2017 budget and that a further SR220bn ($58.7bn) will be earmarked for the NTP over the subsequent three years. Pr...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Jordan Touts $500m Bond
...Jordan has issued a $500mn Eurobond with a yield of 5.875%, due in 2026, the Ministry of Finance announced on 26 April. The bond, more than three times oversubscribed at $1.7bn, was managed by JP Morgan and Citigroup. The Eurobond issue is part of Amman’s plans to meet its 2017 financing ne...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Iran Approves Higher Budget Spending In 2016-17
...ections in 2017. The Majlis also wants the government to charge progressive prices for gasoline based on the level of consumption. Under the new system, which brings back fuel smartcards, car owners would be able to consume up to 180 liters of gasoline per month at the current price of IR10,000 ($0....
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Turkey To Cut Coal Imports
...owly – a 510MW plant at Soma, due for start-up in 2017 by China’s HEI, is the only coal-fired plant currently under development. Turkey’s plans for 4.5GW of lignite-fired capacity in the southern Afsin-Elbistan region and 1.32GW at Adana near the Mediterranean coast have not progressed. UAE’s Taqa was or...
Volume: 59Issue: 18Published at Fri, 06 May 2016