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KRG Struggles To Cope With Soaring Debt Payments
...tuation, whereby it has $575mn of bonds maturing in 2017. An 18 April coupon payment of $26.4mn was missed, despite the company having $69.5mn cash reserves on 12 April, the last date on which it reported the balance (MEES, 15 April). The company is in ongoing talks with stakeholders over restructuring its ba...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
Iran Taps Koreans For Tabriz Refinery, Eyes $3.3bn Siraf Funding
...though the splitter was originally scheduled to begin production in early 2016, petroleum minister Bijan Zanganeh told reporters this week that start-up is now not expected before the end of September, although a further slip to 2017 looks likely. POST-SANCTIONS DEALS Asian investors in pa...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016 -
OPEC May Production Drops Despite Saudi And Iran Increases
...8.6mn b/d for 2016 and 8.2mn b/d for 2017. Meanwhile, in an indication that the global crude overhang is beginning to tighten amid falling non-Opec output in not only the US but in countries as diverse as Mexico and Ghana, US commercial crude stocks fell by 8mn barrels in May from April’s 54...
Volume: 59Issue: 23Published at Fri, 10 Jun 2016