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Sudans Hope For Output Gains From Cooperation
...timistic accounting and it was no surprise that when June came around, Juba sent a 600,000-barrel Dar Blend cargo Khartoum’s way, just as it has done every two months since April 2017 (equivalent to around 10,000 b/d). Nor was it a surprise that the diversion of a total of 28,000 b/d of crude to the 10...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
DNO Adds KRG Output
...eraged 106,000 b/d in the year-to-date, which implies Q2 output from the Tawke field of around 88,000 b/d – 17.5% less than the same period last year. In the firm’s February 2017 results call, Chairman Bijan Mossavar-Rahmani said that while investments had been paused since 2015 “we will be making th...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Bahrain’s Troubled Banking Sector Set For Turbulent Times
...low investment grade. Fitch states that the reforms undertaken by the government haven’t been sufficient to stabilize its debt-to-GDP ratio. Bahrain raised $3bn in international bonds in 2017, and currently has about $14bn of outstanding dollar bonds, spiking the government’s debt-to-GDP from 43...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Saudi Crude Exports Poised To Fill Market
...rket. He said crude exports for July would be equal with June but expected August exports to fall by 100,000 b/d. It thus appears unlikely that November 2016’s record 8.26mn b/d is under imminent threat. Following the implementation of the Opec+ agreement in January 2017, Saudi Arabia cut crude ex...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Saudi Products Exports At Record Highs
...udi refinery runs averaged just over 2.60mn b/d in May, an 18% increase on the 2.2mn b/d reported for April when most of the Satorp work was carried out, but short of the almost 2.83mn b/d record throughput of December 2017 (see p7). And Satorp came back with a bang, taking to Twitter on 9 July to an...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Aramco Eyes Sabic Stake
...sewhere. Given that the planned Aramco IPO that was intended to provide PIF with $100bn appears to have stalled, there is clear incentive for such a move. Sabic’s total 2017 output was 71.2mn tons/year, mainly of petrochemicals – including intermediate products – but also including around 5mn t/y of st...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Abu Dhabi, Dubai Push Power Capacity, Diversify From Gas Fuel
...so supplies other emirati utilities. In 2017 Adwec delivered 13.97TWh (a daily average of 1.59GW) to the Federal Electricity & Water Authority (Fewa), which supplies the northern emirates, and 6.93TWh (791MW average) to Sharjah Water & Electricity Authority (Sewa). Fewa and Sewa have generating ca...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Saudi Arabia Struggling To Reform Economy Despite Ambitious Plans
...ass (MEES, 28 April 2017). And as rebounding oil prices alleviate the government’s fiscal concerns, the imperative for reform lessens. The continued absence of a revamped National Transformation Plan (“NTP 2.0”) is certainly a cause for concern that momentum for reform has been lost. Originally co...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Iran Budget Deficit Stubbornly High As Economic Turmoil Looms
...Iran posted an $8.2bn deficit in the last financial year. But with a growing economic crisis and looming sanctions, this may prove the highwater mark for some time. Iran posted a budget deficit of IR270 trillion ($8.2bn at the fixed budget rate of $1=IR33,000) in fiscal year 2017...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018