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Saudi Arabia Targets Foreign Investment To Bolster Economic Growth
...eated the Future Investment Initiative (FII) conference which it has held in Riyadh annually since October 2017 and which was swiftly dubbed ‘Davos in the Desert.’ Last month Davos, home to the WEF’s flagship event, truly came to the Desert. While the 28-29 April WEF Special Meeting had more of a ge...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
As Momentum Returns To KRG Oil Sector, Repayment Change Highlight Challenges
...peline connection. Pearl also has another big gas field in Kurdistan – the nearby 5.7tcf Chemchemal field – where it has conducted appraisal drilling. It was also awarded blocks 19 and 20 in 2017 as part of a deal with the KRG over receivables (see p5). ...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Qatar Slumps Into Recession
...ha, with total exports of $16.4bn over Q1 the lowest level since 3Q 2017. Within this, gas and condensate revenues of $10.8bn were the lowest since 4Q 2017. It appears all but inevitable that revenues will fall further this quarter. ...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Iran Threat To Nuke Deal As Exports, Revenues Face Collapse
...15, amid overall record 617,000 b/d imports. Turkey imported 91,000 b/d from Iran in February, up slightly on January’s 90,000 b/d but less than half average volumes of 210,000 b/d for 2017 and 1H 2018 when the Islamic Republic was Turkey’s top crude supplier. Certainly Turkey, as with India and Ch...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Economic Reforms Boost Saudi Non-Oil Fiscal Revenue In 2018
...n-oil income: oil revenue, at $30.3bn, was up just 1.7% year-on-year. However, oil still retains its stranglehold on the economy, contributing 68.5% of total revenue, more than the full year 2017 figure of 63%. The Finance Ministry attributes the 63% year-on-year increase in non-oil revenue to “th...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
South Sudan Coffers Empty Amid Crippling Crude ‘Diversions’ To Khartoum
...e newly-independent country struggles to clear arrears with its new neighbor to the north (see charts, p16). South Sudan has received just 15% of the $3.62bn in gross export revenue for its crude since the start of 2017. Some $1.97bn has gone to the foreign partners (largely government-owned fi...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Output Slump, Revenue Slump
...le state in the northeast has also dropped, from about 220,000 b/d in November 2013 to an average of 150,000 b/d for 2015 and just 120,000 b/d for 2016 and 2017 (see chart). The collapse in global oil prices from mid-2014 compounded the woes. CRUDE ‘DIVERSIONS’ SINCE 2Q 2015 HAVE LAGGED EVEN ON...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Saudi Oil For Sudan
...dan and Saudi Arabia, which backed the lifting of key US sanctions against Sudan in October (MEES, 13 October 2017). Riyadh’s ambassador to Khartoum, Ali Hasan Ja’far, said on 6 May that the kingdom plans to sign several defense and economic cooperation agreements with Sudan involving “unlimited Saudi in...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Gulf Banking Ripe For Takeover Spree
...rgest such lender in the Middle East. In-country M&A banking deals aside, cross-border M&A activity in the Middle East has bucked the global dip in the first quarter of 2017 and remained robust, particularly in the UAE and Saudi Arabia. According to the cross-border M&A Index Q1 2017 published by...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Saudi Revenues Double In Q1
...venues in 2017, which requires average quarterly takings of $32bn. Oil revenues drove an overall year-on-year increase of more than 70% to $38.4bn, while non-oil revenues grew an anemic 1%. The report confirmed Deputy Economy Minister Muhammad al-Tuwaijri’s statement last month that the quarterly de...
Volume: 60Issue: 19Published at Fri, 12 May 2017