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Iran Takes Major Step Towards New Contracts. But Will IOCs Bite?
...oduction of 4mn b/d in the first half of the current Iranian year – by end-September – bringing the timeline aggressively forward from March 2017. This is a level not-achieved since August 2008, and not with any semblance of regularity since 2006. Production in June was 3.49mn b/d, up from 2.89mn b/d at...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Gulf Keystone Deleverages, Eyes Output Boost
...mature in 2017 – reduced from more than $600mn to just $100mn, in exchange for equity. Existing shareholder’s equity would fall to 5% as a result, although they will be permitted to purchase $25mn worth of equity, bringing the total to 14.5%. This is at a price of $0.0109 per share (around £0....
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Zohr: Gas Upgrade
...entities interested,” with a sale “something that we could have by 2017” he says. Eni on 7 July awarded its subsidiary Saipem, a €1.5bn ($1.66bn) engineering, procurement, construction and installation contract for the giant field. Saipem will work on deepwater field development of Zohr’s si...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Record Stocks Cast Shadow Over Market Rebalance
...0). OPEC'S SHARE OF WORLD OIL* OUTPUT SET TO HIT 42% BY LATE 2017-IEA *CRUDE + NGLS. FORECASTS FROM 3Q16 ('CALL ON OPEC' FOR OPEC CRUDE). SOURCE: IEA JULY 2016 OMR. IEA SUPPLY & DEMAND FORECASTS, JULY 2016 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, JULY 2016 (MN...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Dubai In 2.4GW Coal Award
...ys Barakah-1 is “88% complete” while the last reactor, Barakah-4, is “31% complete.” Korea’s Kepco E&C originally intended to bring one reactor online each year during 2017-20. However, Enec has recently been saying that the units are “scheduled to be delivered by 2020,” suggesting a delay in sc...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016