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US Shale: No Sign Yet Of A Slowdown
...ghest since June 2015. If the August output figure (based on the latest drilling data) proves correct, this would be a rise of 757,000 b/d since the start of 2017. Gains to US shale production are slightly outstripping overall US crude production gains: overall output was 9.224mn b/d in June, ac...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Saudi Crude Exports Lowest Since 2014 As Oil Burning Ramps Up
...u look at it. On the one hand the Saudi share of US demand is testing multi-year lows (see chart 1). On the other hand, taking first half 2017 volumes as a whole, US imports from Saudi Arabia have been remarkably consistent with earlier periods – indeed, as the US has slashed crude imports from el...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Gulf Bond Issues To Set New Highs As Cash Crunch Continues
...going funding needs. International bond issues by GCC states has been a standout success story in financial markets this year. And on many fronts, it’s a story that is only just beginning. The GCC states collectively issued $25bn worth of international bonds in the first half of 2017, more than ha...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Iran’s Budget Deficit Soars In 2016-17
...int Comprehensive Plan of Action, lower prices meant Iran’s oil revenue rose by only 10% during 2016-17; its share in total budget revenue shrank by 3%. However for calendar 2017 Iran is on course to see oil revenue rise by a whopping 38% ($15.6bn) versus 2016, the result of both higher prices and hi...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Oman To Add 4.8GW To Grid By 2022 As Electricity Demand Forecast To Rise 74%
...MW of capacity by 2018. Raeco also operates 91MW of diesel capacity in Musandam and is building the 120MW gas-fired Musandam IPP for completion in early 2017. OMAN ELECTRICITY DEMAND PROJECTIONS (GW...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
Apicorp And Bahri Plan $1.5bn Saudi VLCC Shipping Fund
...at “with a current fleet of 36 VLCCs and 10 newbuild orders scheduled for delivery in 2017-18, the 15 crude carriers proposed for acquisition under this fund will propel Bahri into becoming the largest operator of VLCCs in the world.” Last year Bahri awarded Korea’s Hyundai Samho Heavy Industries a co...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
Acwa Gets $1.8bn Power Refinance Deal
...33.” Acwa is also involved in the 2.1GW Rabigh 2 IPP project, with partners Samsung of Korea and Dubai-based Mena Infrastructure Fund. Rabigh 2 is owned 50% by the Acwa-led ground and 50% by SEC. The gas-fired plant is scheduled for completion in 2017. SEC is owned 74% by the Saudi government, 7% by...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
GCC Bonds’ Bumper Year: 1H16 Surpasses All Previous Full-Year Historic Highs
...pay or refinance bonds worth $94bn in 2016 and 2017. But the current Brent futures curve has oil remaining below $54/B over the next 24 months. The accumulation of debt has led to comparisons with the region's rapid credit expansion in the mid-2000s and subsequent crunch in 2009. “The concern is...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
Parliament Likely To Water Down Iran’s Planned Banking Sector Overhaul
...oblems in the sector, the credit crunch and the banks’ capital adequacy positions by the end of the current fiscal year in March 2017, but this looks optimistic. DEPOSIT RATES SET AT 15% At the end of June the CBI’s Money and Credit Council (MCC) lowered lending rates following a decision by pr...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
Algeria’s Economy: Sinking Fast Despite ‘Titanic Efforts’
...ds. PRAYING FOR OIL PRICE REBOUND Any hope of Algeria squaring the circle depends on a rapid, large and sustained rebound in oil prices. The state “anticipates hydrocarbons revenues of $35bn in 2017, rising to $45bn in 2018,” Mr Sellal says. The 2017 figure is in line with 2015 revenues when pr...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
World Growth Forecasts Downgraded, Again
...dia. But in a 19 July update to April’s World Economic Outlook, the IMF cut its global growth projections for both 2016 and 2017 by 0.1 percentage points compared to the April report, which already contained a set of steep downward revisions (MEES, 15 April). For the US, the 2016 growth forecast ha...
Volume: 59Issue: 29Published at Fri, 22 Jul 2016 -
Partex Sees Adco Opportunity As BP, Shell Shun Terms
...d US players. Adnoc retains a 60% controlling stake in the restructured Adco, which manages 15 onshore fields that are currently producing 1.6mn b/d and are due to rise to 1.8mn b/d by 2017. TOTAL IN; EXXON OUT; BP, SHELL PLAY HARDBALL But ExxonMobil was apparently not impressed with th...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Egypt Petchems Plans Continue To Expand As Tahrir Gets Styrene Plant
...exandria } 1,020 460,000 t/y 45mn cfd ethane Ethydco Polyethylene (2015) Alexandria 400,000 t/y 460,000 t/y ethylene E-Styrenics Styrene (2017...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Egypt Lines Up Further Gas-Fired Capacity, Readies Renewables Tender
...18) 1.95 Gas Beni Suef (2017-20)^ 4.80 Gas Burullus (2017-20)^ 4.80 Gas New Capital City (2017-20)^ 4....
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Leviathan 3Tcf Boost
...erated ELNG plant at Idku – MEES, 4 July). They also have deals to supply gas to Israel and the Palestinian Territories. Turkish companies are looking to import Leviathan gas, while the partners have entered into a tender to export gas from 2017 to nearby Cyprus. Cyprus also hopes to secure Leviathan ga...
Volume: 57Issue: 29Published at Fri, 18 Jul 2014 -
Orpic Awards Liwa Technology Licenses As Gulf Petchem Juggernaut Rolls On
...abia 2016 50 polyacetal SABIC/Mitsubishi Jubail, S Arabia 2017 250 MMA, 40 PMMA QP/Shell (Al-Karaana) Ras Laffan, Qatar 2017...
Volume: 57Issue: 29Published at Fri, 18 Jul 2014 -
Turkey’s Petkim Nears Ethylene Expansion
...tkim complex, which currently relies on imports. Petkim has signed a 20-year agreement with the STAR Rafineri company for the supply of 270,000 t/y of mixed xylenes and 1.6mn t/y of naphtha. Socar Turkey aims to start up the refinery in 2017. Socar Turkey recently secured a total $3.29bn of loans fo...
Volume: 57Issue: 29Published at Fri, 18 Jul 2014 -
Israel Secures Funds For 121MW Solar CSP Plant
...ncentrated solar power (CSP) plant in Israel. Total project cost is estimated at NIS2.9bn ($850mn). Plant completion is scheduled for early 2017. BrightSource will provide the heliostats and optical concentrating device, with Alstom undertaking engineering, procurement and construction (EPC) as well as op...
Volume: 57Issue: 29Published at Fri, 18 Jul 2014 -
Iraq Deploys Drones To Protect Southern Fields
...itial rate of 15,000 b/d, rising to 60,000 b/d shortly after that. The field will reach peak production of 170,000 b/d by 2017. ...
Volume: 57Issue: 29Published at Fri, 18 Jul 2014 -
IEA Sees Mixed Fortunes For North African, Mideast Refiners
...skra and Tiaret. These are among four 100,000 b/d refineries planned for start-up in 2017 (MEES, 15 March). Algeria’s planning appears to be getting increasingly ambitious, with Ali Hached – advisor to energy minister Yousef Yousfi – telling reporters in early July that the country aims to build six re...
Volume: 56Issue: 29Published at Fri, 19 Jul 2013