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Egypt: Oil Drilling Uptick On Higher Prices, Output To Follow?
...Independents in Egypt have rapidly responded to rising oil prices. Egypt’s oil output has fallen by 35,000 b/d since peaking at 700,000 b/d in mid-2015. The output record came on the back of sustained high drilling levels – with the country’s oil rig count at around 40 during the whole of 2014...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Saudi Electricity Taps China For $1.5bn, Takes Expansion Funding To $33bn
...nistry of Finance in 2014 in addition to government’s regular long term backing (MEES, 17 July 2015). The loan from Chinese state bank ICBC also takes SEC’s capital projects fundraising for 2016 to $3.8bn – just half way through the year this already exceeds the previous record of $3.7bn, hit in both 2014...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Opec On Track For Record Annual Output Despite Unplanned Outages
...eaking lows (MEES, 1 July). OPEC WELLHEAD PRODUCTION, June 2016 (MN B/D, MEES ESTIMATES) June '16 vs May'16 vs Jun '15 May '16 Apr '16 1H16 vs 1H15 1H15 2015 2014 S Ar...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Egypt Finally Pays Off $7bn Debt To Qatar, Backer Of Previous Islamist Government
...rch). Egypt recorded a budget deficit of E£311bn in the first 11 months of fiscal 2015-16, up from E£262bn in the corresponding period of 2014-15, according to the June Financial Monthly recently published by the Ministry of Finance. The 11-month deficit in 2015-16 exceeds by 24% the projected deficit of...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Abu Dhabi Streamlining Creates $135bn Energy Fund With Global Reach
...June). IPIC reports that it recorded a net loss of $2.6bn in 2015, down from a $1.5bn profit in 2014. Revenue fell around 30% to $35.8bn as low oil prices resulted in the devaluation of many of its oil and gas investments. Its upstream stakes give it working interest production of just over 20...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Iran: Payments Start Flowing But Fear Factor Remains
...ese were tightened further in 2011 which led its roughly $420bn economy to shrink by about 9% in the two-year period that ended in March 2014, according to the IMF. From then until January 2016, when sanctions were broadly lifted in return for nuclear curbs, Iran’s ability to continue trading oil pr...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Kuwait Eyes Short Term $17bn Debt Market Boost; Longer-Term Reform Is Needed
...self was more than twice the KD2.31bn Kuwait ran up in 2014-15, its first deficit since 1999-2000. Last year’s deficit was considerably less than the KD8.18bn deficit it expected to run as recently as February, despite Kuwait’s main crude export stream averaging less than the budgeted price. Mr Sa...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016