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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