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Algeria: In Amenas Gas Boost But Oil Set For Further Slide
...atoil, BG and Total respectively. All were handed back to Sonatrach during 2014 and 2015 after a failure to agree terms. Sonatrach indicated that it intended to press on with all three projects by including them in its 2015-19 development plan (MEES, 29 May 2015). Though its latest five-year plan se...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Egypt Puts New Acreage On Offer
...rapped Ukrainian state firm Naftogaz are among those active. The closing date is 30 November and Ganope will be hoping to mirror the success of its previous 2014 bid round with five of the 10 blocks awarded last August (MEES, 7 August 2015). Of those five blocks, last week, the Egyptian Oil Ministry fi...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Aussie LNG Boom Squeezes Qatar In Core Asian Markets Amid Lackluster Demand
...ar (from around 5% last year) and against around 5% for Qatar. The growth in Chinese LNG imports slowed down over the past couple of years, settling at around 19.60mn tons in 2015, following the dramatic increases in recent years and compared with 19.85mn tons in 2014. Qatari sales to China, at 2....
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Algeria Brings Combined Capacity To 17.68GW Despite $10bn Funding Deficit
...dustry. State petroleum firm Sonatrach has seen its five-year investment budget cut to $73bn for 2016-20, from $90bn for 2015-19 and $100bn for 2014-18. And it is not only cashflow that may be a problem for Sonelgaz beyond 2018. At the end of 2015, Algeria’s 17.24GW of generating capacity comprised ro...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Opec Output Hits New Record In July As Prices Tumble
...y16 Jul16 v15 YTD 16 v YTD 15 YTD 15 2015 2014 S Ar...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Iraq Crude Revenues Head For 10-Year Low
...vember 2015 and April this year – the average of 3.25mn b/d for the first seven months of 2016 is up 300,000 b/d on the same period a year earlier, and almost 800,000 b/d on January-July 2014. But monthly revenues have averaged $3.16bn so far this year, the lowest since 2006, and if replicated over th...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Saudi Reserves Down Again But Deficit Narrows
...Saudi foreign exchange reserves fell to $570bn in June, down 22% from their peak level of $732bn at the end of 2014, as the kingdom continues to raid its savings to maintain investment in its oil and non-oil economies, along with the expense of military operations in neighboring Yemen and in Sy...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
IMF Approves Morocco PLL
...ternal conditions. Morocco’s first PLL arrangement for about $6.21bn was approved in August 2012, while the second one for about $5bn was passed in July 2014 (MEES, 1 August 2014). Commenting on the latest facility, the IMF Deputy Managing Director Mitsuhiro Furusawa said that despite the di...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016