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Gulf NOCs Tap Into World-Leading US LNG Sector
...amco in the race. Indeed, QatarEnergy was by far the earliest mover, having agreed in 2014 to convert its Golden Pass LNG import terminal (QatarEnergy 70%, ExxonMobil 30%) into an export terminal (MEES, 11 July 2014). More than a decade later, Qatar’s Minister of State for Energy Affairs Saad al-Ka...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Mubadala’s SWF Acquisitions To Create Global Champions
...namic state organizations in the region. It was formed just over 15 years ago in 2002 and is chaired by Abu Dhabi Crown Prince Muhammad bin Zayid Al Nahyan whose influence has increased significantly since UAE President Khalifa bin Zayid Al Nahyan’s stroke in 2014 (MEES, 29 August 2014). The Crown Pr...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Egypt Economic Reforms Remain On Track But Long Road Ahead
...ensure that these subsidies target those who are most in need. He denies that there is a decision to raise fuel prices, but said that his ministry has a five-year program which started in 2014 to rationalize energy subsidies, stressing however that this program is unrelated to the IMF loan. NE...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Oman Export Revenues Down, Rating Junked
...finery Improvement Project (SRIP), which commenced in 2014, is slated to increase output capacity for transport fuels by 59% to 197,000 b/d. Construction finished earlier this year and the spike in April refinery output suggests that units temporarily offline for the maintenance are now back online. Ho...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Saudi 2030 Plans: Turning The Vision Into Reality
...ort-term benefit is the generation of revenue, which will help reduce concerns over the pace at which foreign exchange reserves are being drawn down and government debt is towering up. Foreign Reserves dropped from a peak of $731bn in August 2014 to $576bn as of March 2016. Moody’s forecast reserves de...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Iran Gets Sound Advice From IMF, But Will It Be Heeded?
...e Central Bank of Iran (CBI) Valliolah Seif, liquidity rose by 30% in 2014 from 23% in 2013. Mr Seif says that under sanctions Iran’s banks failed to keep up with their international peers: they need to reintegrate and comply with international standards. The government and CBI intend to su...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Egypt’s Deficit Up
...EGYPT Egypt’s Deficit Up Egypt posted a budget deficit of E£218.3bn ($28.7bn), or 9.4% of GDP, for first nine months of fiscal year 2014-15 (July 2014 to March 2015), up from E£145bn, or 7.3% of GDP, in the corresponding period of 2013-14, Egypt’s Ministry of Finance said in its Ap...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Libya Could Run Out Of Cash Sooner Rather Than Later
...stitutions. Libya foreign exchange reserves plunged by a quarter in 2014. Without an upturn in oil earnings the country could run out of reserves in two years, according to a report by the Libyan Audit Bureau (LAB). And if oil production fails to increase in the coming months, even this could be optimistic, ac...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Bahrain 2015-16 Budget Deficit Soars
...nsolidation and to focus on gradually “retargeting subsidies to the lower income segments of the population,” the IMF said last year (MEES, 27 June 2014). The Bahraini authorities earlier in 2015 announced an increase of 11% in natural gas prices for industrial users and employee medical insurance fees, th...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Libya: 14% Budget Cut
...LIBYA Libya: 14% Budget Cut The 2014 Libyan budget has been cut to LD58.9bn ($47.9bn) from an earlier figure of LD68.6bn ($55.8bn), a member of the planning and finance committee of the General National Council (GNC) Huda al-Banani has confirmed. Total revenue is now pr...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran: Hope All-Pervasive, But Is It Justified?
...ess codes, prompting some women to be more daring with their attire and hijab. However this is only a phase which could be reversed. The construction sector in Tehran does not seem to have suffered from the lack of economic growth – the economy contracted by 1.7% over the year to March 2014 and by ov...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Calls Mount To Change Saudi Subsidies
...oducts importer (MEES, 3 May). This fuel is purchased at market price internationally, yet it is then sold in the domestic market at the subsidized level. An end to transportation fuel imports should come with the start-up of two key refineries in 2014. French major Total will sell its own sh...
Volume: 56Issue: 20Published at Fri, 17 May 2013