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Oman’s Sohar $2.1bn Refinery Expansion Schedule Pushed Back
...mmissioning its expanded Sohar refinery until the first quarter of 2017, having initially aimed to have the plant ready to begin commercial operations by the end of 2016. The refinery’s crude processing capacity is being expanded from 116,000 b/d to 197,000 b/d by UK’s Petrofac and Korea’s Daelim under a $2....
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
SEC Identifying Sites For Solar Plants, Sanctions 300MW Renewables Program
...CC 50 2017 SEC Waad Al-Shamal (1.39GW) ISCC 50 2018 SE...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
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 -
Dana Gas Eyes Further Egyptian Production Gains
...unterclaim will be held by the court in early September. A further hearing for the level of damages will take place. A date has yet to be confirmed, but Mr Allman-Ward expects it to be in 4Q16 or Q1 of 2017. The English High Court last year ordered the KRG to pay $100mn of this, and Mr Allman-Ward told th...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
IMF Loan To Egypt Will Need To Be Supplemented With Serious Reforms
...though the country had not received any grants since last year. Mr Garhy for his part, noted that the negotiations with the IMF should be seen in conjunction with the government’s growth and reform plan for the periods 2016-17 and 2017-18, as well as that for Egypt’s 2030 vision. He acknowledged the ma...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
Iran Struggles To Reduce Cash Subsidies Outlay
...at those whose annual income exceeds IR350mn ($10,000) are classified as being in high income brackets and should be removed from the list by the end of the current fiscal year ending on 20 March 2017. Mohammad Nobakht, head of the Management and Planning Organization, argued then that the $10,000 cu...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016