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LNG Markets: Demand Robust As Prices Hit $12/mn btu
....4mn tons for 5M 2021. *Japan has been the top global LNG importer since the 1970s and was only topped by China for the first time ever on a monthly basis in November 2019 (MEES, 10 January). Having only overtaken South Korea for global number two spot in 2017, there is now a fair chance that Ch...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
World Bank Forecasts 2020 GDP Collapse: World -5.2%; Saudi -3.8%; Iraq -9.7%
...th -6.3% growth. Should these forecasts come to pass then Beirut will be left by end-2021 controlling an economy some 23% smaller in real terms than it had in 2017. The World Bank acknowledges that though it is forecasting a return to growth almost across the board for 2021 (it forecasts +4.2% for th...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Egypt Inks New IMF Program, Hikes Power Prices
...TERNATIONAL RESERVES DOWN ALMOST $10BN (21%) OVER LAST THREE MONTHS TO LOWEST SINCE 2017 ($BN) SOURCE: CBE. SUBSIDY EXTENSION Although subsidies on oil products have been largely removed, with Cairo implementing an automatic pricing mechanism since September last year, the pl...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Kuwait Approves 2017-18 Budget With $26bn Deficit
...The Kuwait parliament has approved the budget for fiscal year 2017-18 starting on 1 April, with oil revenue set to remain relatively flat at KD11.7bn ($38.6bn). The budget projects that Kuwait will run its fourth consecutive deficit, with the shortfall set to rise to $26.1bn for the current ye...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Energy Subsidy Spending In Arab Countries (% Of GDP) - IMF
...OIL SUBSIDIES ARE DOWN SINCE 2013 BUT BY LESS THAN THE FALL IN OIL PRICES* *ADJUSTING THE 2013 SPEND FOR SUBSEQUENT OIL PRICE CHANGES WOULD RESULT IN AN AVERAGE FALL IN SPENDING OF 3.5% OF GDP, IE FROM 4.9% TO 1.4% FOR THE REGION AS A WHOLE. SOURCE: IMF, JUNE 2017. TOTAL EN...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Oman $500m Power Bond
...19. Besides expanding the 400kV transmission network, OETC will add new substations and transmission lines to the 220kV and 132kW distribution systems in both grids. Oman, burdened by a $7.7bn budget deficit in 2017, says that it has now completed its financing need for the year, with the $2bn in...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Egypt Gas: ‘Remarkable Turnaround,’But Not Quite Yet
...rst four months of this year. MEES also expects output to bottom out in 2017, but at just 37 bcm (3.6bn cfd), way below the IEA’s 48bcm figure (see chart, p16 and MEES, 3 June). The expected “rapid turnaround in the country’s production performance” is thanks to improved terms that have in...
Volume: 59Issue: 24Published at Fri, 17 Jun 2016 -
Bonds Away: GCC Countries Tap Markets For $3.5bn As Saudi Waits In Wings
...nd the same Baa1 rating as Oman, “supported by high levels of wealth, fiscal space offered by relatively low levels of general government debt and still sizable government financial assets, and comparatively low risk.” Moody’s expects government debt to rise to 33% of GDP by 2017 from less than 5% at...
Volume: 59Issue: 24Published at Fri, 17 Jun 2016 -
Saudi Arabia Ponders Creation Of ‘National Reserve Fund’
...e end of 2017 – a sum that would in theory catapult the fund into second place on a ranking of the world’s top SWFs (see table). Dr Mariq says the aim of establishing the fund, also known as the “National Reserve Fund” is to accumulate financial surpluses and invest them to realize maximum returns. Th...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014