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Total Gives $1bn Impetus To Iran’s Upstream Opening
...meframe was given, but on 10 May, CFO Massimo Mondazzi said “in Iran, we’re going to recover any outstanding [receivables] that we have and this will happen in 2017.” OIL AND GAS FIELDS TO BE OFFERED UNDER THE IRAN PETROLEUM CONTRACT GreenField pr...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Qatar Hydrocarbon Revenues Holding Firm in Q2 Despite Outages
...venues had soared in early 2017 thanks to the startup of the 146,000 b/d Ras Laffan 2 condensate splitter on 2 December (MEES, 2 June). But the impact of unscheduled maintenance on 146,000 b/d Ras Laffan 1 splitter in April is clearly shown by the latest data from Riyadh-based Jodi. However, the 15...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Baghdad-KRG Refining Deal Eases Light Products Shortfall
...nths of 2017. Diesel demand has averaged just short of 100,000 b/d in January-April 2017. Recent improvements in reducing gas flaring have significantly cut the need to burn diesel in power plants at times of peak electricity demand (see chart 4). Iraq’s refineries are relatively unsophisticated – th...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Saudi Grid Has 74.3GW Generating Capacity Available, Says SEC
...so been working on improving the operating efficiency of its power plants. Average thermal efficiency in SEC power plants was 35.6% in Q1 2017, the company says, compared with 34.5% in the same quarter of 2016. The utility claims that efficiency improvements in its oil-fired power plants saved th...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...rrels (130,900 b/d) in April, the first fall since January. This boosted the total amount of crude Saudi Arabia supplied to the market to 10.077mn b/d, the first time it has exceeded 10mn b/d since December. 1: SAUDI ARABIA MONTHLY CRUDE BURN (‘000 B/D): 2017 CONSISTENTLY LOWER THAN 2016 SO...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...sts for Tunisia continue to mount. From being a net oil exporter as recently as 2010, domestic output fell to a mere 46% of demand for the first four months of 2017 (see table & chart 1). Were it not for the fall in oil prices the situation would be more dire still – indeed for gas, although output is al...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Egypt Ends Forex Controls
...bsidies and streamlining public finances in order to cut the budget deficit. He also expects inflation to fall to just 13% during 2018 from the latest figure of 31%. Egypt’s parliament is currently debating the 2017-18 draft budget which envisages total spending of E£1,206bn ($67bn) and a deficit of E£37...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Doha’s Diplomatic Dispute – The Financial Impact
...NKS Qatari banks’ foreign liabilities have risen over the last few years as they became increasingly dependent on foreign funding during a period of strong economic growth. Their foreign liabilities increased to QR451bn ($124 billion) in March 2017 from QR310bn at the end of 2015. According to a re...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
South Korea Credit Line Offers Relief For Iran’s Ailing Economy
...rliamentarian who represents the Majlis on the NDFI governing board. The Washington-based SWF Institute previously estimated reserves at $62bn. According to the 2017-18 budget bill, the government is required by law to allocate 30% from its oil and gas export revenue to the wealth fund, up from 20% in the bu...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017