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  1. Oman’s Economy Rebounds With $2bn 1H Surplus

    ...ndensate’s exemption from Opec+ cuts since January 2020 (MEES, 6 December 2019). GAS AMBITIONS    Ç   And condensate output is set to continue to rise over the longer term given the sultanate’s focus on developing gas/condensate plays. The 2017 start-up of BP’s 1bn cfd Khazzan tight gas project re...

    Volume: 65
    Issue: 32
    Published at Fri, 12 Aug 2022

  2. Saudi Arabia Slashes Budget Deficit In 1H 2019

    ...rtails its capital spending programs. Real GDP growth is forecast by the IMF to fall to 1.7% this year from 2.2% for 2018 and a 0.7% contraction for 2017. Revenue was $135bn for 1H 2019, up 15% year-on-year. The key element was unsurprisingly oil revenue, which rose by 15% to $92bn, 68% of the total. Th...

    Volume: 62
    Issue: 32
    Published at Fri, 09 Aug 2019

  3. US Slaps Back Iran Sanctions, With More To Come

    ...emselves more risk-averse. South Korea, Iran’s third largest buyer of crude and condensate in 2017 with 361,000 b/d, halted oil imports in July (MEES, 3 August), whilst Japanese imports fell to 130,000 b/d in Q2 from 190,000 b/d in Q1. Key EU buyers Italy and France have also been cutting volumes, th...

    Volume: 61
    Issue: 32
    Published at Fri, 10 Aug 2018

  4. Iran’s Rohani Targets More Foreign Investment, Shadow Lenders

    ...eraged 3.8mn b/d compared to 2.85mn b/d in 2015 (MEES, 4 August). Latest Central Bank of Iran (CBI) statistics show that real GDP grew at 12.5% for the Iranian year ending 20 March 2017, driven by the rise in oil production. But the economy in general is still suffering from lack of liquidity, large de...

    Volume: 60
    Issue: 32
    Published at Fri, 11 Aug 2017

  5. Algeria’s Trade Balance Worsens As Government Ponders Austerity Policy

    ...onomy, including renewable energy sources, agro-industries, and hydrocarbon and mining downstream industries, the cabinet statement said. The Finance Ministry projects growth at 3.5% in 2016 and 4% in 2017, under the new model. Algeria has already taken some austerity measures by cutting energy su...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  6. Jordan Taps Bumper Aid; IMF Praises Energy Policy

    ...riff increases scheduled for early 2016 and 2017. In the future there might be scope for revisiting the substantial cross-subsidization of the planned tariff structure… We also stand ready to reinstate the full tariff increase of early 2015 should the oil price go above $70/B for a period longer than tw...

    Volume: 58
    Issue: 32
    Published at Fri, 07 Aug 2015