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Egypt Touts $33bn Gas Investment, But Receivables Worry Remains
...e award of a tender for a third floating storage and regasification unit (FRSU), to be moored at the Red Sea port of Safaga in the first half of 2017. The ship’s capacity will be 750mn cfd to add to its two existing FSRUs totaling 1.3bn cfd. Both moored at Ain Sukhna, north of Safaga, these started op...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Aramco Seeks To Cut Indonesia Refinery Stake
...ster Wheeler is scheduled to develop the scope of the proposed upgrade project and finalize the process configuration and licensors’ package by the end of February 2017. Pertamina and Aramco aim to have front end engineering design completed in 2018, with a view to tendering for engineering, pr...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Dubai Plans Gas-Fired Expansion As UAE Pursues Powergen Diversity
...ec recently performed structural integrity tests on Barakah-1, which will be the first of the reactors to be brought online. Enec originally intended Barakah-1 to start up in 2017, but this target has slipped. The agency now says the four plants are scheduled to be fully operational in 2020. Enec sa...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Oil Market Bulls & Bears In Pre-Algiers Stand-Off
...ec figures. Most analysts now see the global surplus of supply over demand continuing well into 2017. And of course inventories are already at record levels. Having fallen by 20mn barrels from May’s record of 540mn bl, US crude stocks unexpectedly rose again last week to stand at 524mn barrels on 19 Au...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
US Data: Reading The Runes
...ilst output from US shale formations is still falling, September’s projected fall of 85,000 b/d (to 4.47mn b/d) is the lowest this year. Meanwhile, the EIA’s forecasts for 2016 and 2017 in its latest Short Term Energy Outlook are up by 120,000 b/d and 110,000 b/d on those made the previous month (see ch...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Iraq Cuts 2017 Project Spending
...Iraq’s Planning Ministry has axed 296 projects worth $9bn and postponed a further 2,169 worth $31bn from the 2017 investment budget in a bid to slash public spending, ministry spokesman ‘Abd al-Zahra al-Hindawi says. At the same time Baghdad needs to secure funding for some 4,500 ongoing pr...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016