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Iran Halts Power Exports To Iraq As Baghdad Struggles To Curb Attacks On Pylons
...66bn cfd earlier this year, flows now stand at just 800mn cfd, of which around 700mn cfd is to central Iraq and the remainder to Basra. Even at 1.66bn cfd, flows were well down on the 2.47bn cfd contractual obligation. Iran-Iraq gas flows averaged 1bn cfd for 2020. Flows started in 2017 with the op...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Libya’s Financial Black Hole
...ude prices, which at an average of $69.2/B for Libya’s light Es Sider crude, are up $19/B (38%) year on year. Hydrocarbons earnings, at LD15.6bn ($11.3bn) for 1H 2018, were 16% above the budget figure. They were also more than double the LD6.8bn earned from hydrocarbons in the first half of 2017: as we...
Volume: 61Issue: 33Published at Fri, 17 Aug 2018 -
Libya Power Expansion Going Nowhere, Blackouts Continue
...gineers were kidnapped last November (MEES, 24 November 2017). Three Turkish engineers (though apparently not their South African colleague) were released in late June, but work has yet to restart. Enka’s website gives the planned completion date as 1 August 2015. Sharply lower gas output resulting fr...
Volume: 61Issue: 33Published at Fri, 17 Aug 2018 -
Egypt: Mid-Size E&Ps Still Living Hand-To-Mouth Despite Gas Renaissance
...velopment, which is 80% complete and due for December 2017 start-up, by managing to pay off a large part of the receivables the firm is owed. At the end of 2016 Eni was owed $611mn, with $420mn overdue, but that has now almost been halved to $310mn with no amount overdue. Eni’s 10% partner in Zohr, UK ma...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
New Iraqi Oil Minister Sets Out Priorities
...l production if it’s going to substantially boost its oil revenues. But this doesn’t look like occurring any time soon. UAE’s Taqa announced last week that first oil at the Atrush field – planned for 30,000 b/d – might slip into Q1 2017. Taqa is partnered with US-firm Marathon and Canada’s Sh...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
GCC Fiscal Reforms: Long Overdue And A Long Road Ahead
...arter of this year. The agreement paves the way for the introduction of these taxes in the GCC from 1 January 2017, for excise duty, and 1 January 2018, for VAT, respectively. The introduction of a GCC-wide VAT of 5% in 2018 will play a central role in supporting revenue diversification, however the li...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016