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Iran Eyes $30bn EU Credit After $13bn Korea Deals
...ndensate splitters at the Siraf Refineries Park in the Assaluyeh region (MEES, 23 June). Iran needs massive amounts of money for investment following over a decade of international sanctions and isolation from international financial markets. Under its sixth five-year plan for 2017-22 Iran’s oil in...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Saudi-China $20bn Fund
...passing the Malacca Straits. The idea is that Aramco will ultimately supply the bulk of the refinery’s crude feedstock. Long China’s top supplier, Saudi Arabia has been relegated to third place behind Russia and Angola for the first seven months of 2017 (see p7). However, “the goal is not only that th...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Iran Eyes Three IPC Upstream Contracts By March 2017
...Iran is adopting a more realistic target for signing the first contracts under the Iran Petroleum Contact (IPC). It is aiming for two-to-three contracts to be signed by the end of the current Iranian year (20 March 2017) says Deputy Managing Director of the National Iranian Oil Company (NIOC) Gh...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Sabic Agrees Principles For China Coal-To-Chemicals JV
...ll process coal produced locally in Ningxia to produce chemicals aimed at “highly differentiated applications and segments through polymer derivatives.” SNGC is already building a coal-to-chemicals plant in Ningxia. This is scheduled for start-up in 2017 and will incorporate a 1.4mn tons/year cr...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Iraq’s Embattled Government Under Fresh Pressure
...ess conference on 23 August, that the cabinet was ahead of schedule on budget planning and had met that day to discuss the 2017 budget (MEES, 26 August). In a separate statement from his office, he committed to sending the budget to parliament by mid-September. The 2017 budget will be set at an oi...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
LIA Litigation
...re than $200mn. The claims are “without merit,” says Goldman. The High Court ruled in late July that LIA’s lawsuit against SocGen will be delayed from January 2017 to April after lawyers representing the bank petitioned for more time to complete preparatory work on the case. They cited the on...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Egypt Plans VAT At 13% From 1 October
...% from July 2017, the start of the next fiscal year. Parliament wanted to introduce this tax at a rate of 12% while the government insisted on its initial plan to set it at 14%, but at the end the above compromise was reached at the suggestion of Finance Minister ‘Amr al-Garhy. The government’s fi...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Algeria’s Sonatrach Continues Relentless Battle Against Production Decline
...erating the field, while Algeria’s Sonatrach and Thailand’s PTT have 25% and 35% respectively. As for gas, output isn’t really expected to rise before 2017, when the new gas fields in the southwest Sahara – mainly Touat, Timimoun and Reggane - come on stream. This should be followed by Petroceltic’s Ai...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Iran Sees Start-Up Of New South Pars Phases By October
...e oil ministry’s efforts to double domestic output from around 165 bcm/y in early-2014 to 330 bcm/y by 2017. This target comes as part of a wider and incredibly ambitious $62bn three-year investment plan announced by the National Iranian Gas Company (NIGC) early last year, aimed at further de...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
KRG Scrabbles For Cash In Bid To Head Off Investment Hiatus
...neuver is rapidly diminishing. The firm has a $250mn bond due in 2017 and raised a further $40.7mn from a share placing in March this year. The positive side of the ledger is much more flimsy with the firm’s cash reserves halving from $127mn to $64mn over the three months to end-June. First half lo...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Saudi Arabia Says No To Subsidy Reform
...GDP. “The policy response has been limited and primarily consists of a reduction in capital spending that will take time to gain traction,” Fitch says, adding that deficits in mid-single digits are also forecast for 2016 and 2017, “assuming reduced capital spending, the absence of new one-off ou...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
RWE Dea Boosts Egypt Gas Output, Russian Sale Advances
...souq. It is also a minority partner in the 50bn cu ms BP-led West Nile Delta offshore project, which the two companies hope to develop by 2017. Collapsing output means Egypt faces a chronic near-term gas shortage. It hopes to relieve this with the planned start of LNG imports in December, after ag...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
The US Shale Gas Revolution: A Threat To Gulf LPG Exporters
...port, according to the Oxford Energy report. Both Qatar and Abu Dhabi are major LPG exporters, but like Saudi Arabia, the amount of LPG set for export will increasingly be limited by booming domestic petrochemicals industries. Qatari LPG exports will plateau at between 10-11mn tons/year through 2017...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Oman IPP Qualifiers
...mpany specifies that 740MW of capacity should be operational for summer 2017 and the other 1.86GW for summer 2018. Three sites are being considered for the plants – at Ibri, Sohar and al-Suwayq. Future Plans OPWP is looking to award the contract under build-own-operate terms in early 2015. The ne...
Volume: 57Issue: 35Published at Fri, 29 Aug 2014 -
Iraq Shake-Up: CNPC Enters West Qurna-1; Shell Slammed Over Majnoon
...tronas were awarded the 20-year service contract for further development of the Majnoon oil field in January 2010, when they submitted a winning bid to raise output from a baseline of 46,000 b/d to a plateau of 1.8mn b/d by 2017 for a remuneration fee of $1.39/B. The contract came into effect in March 20...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Tunisian CO2 Study May Scupper Plans For Zarat Development
...upper, or at least seriously delay, Canadian independent Sonde Resources’ plans to produce 37,000 b/d of oil and 80mn cfd of gas from the Zarat field, Tunisia’s largest undeveloped field, from 2017. James Cockayne reports. Sonde operates the Joint Oil Block which straddles Tunisian/Libyan wa...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Cyprus Seeks Short Term Gas Deal With Israel
...r delivery of Block 12 gas to shore. Currently, it is forecast that gas from the Aphrodite field would arrive in Cyprus in 2017, provided an agreement is reached soon and construction of a pipeline gets underway. In a recent issue of the Cyprus government gazette, Noble issued two te...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Budget Oil Prices Higher In 2010, According To Preliminary Data
...01.7 2166.3 2327.5 2365.9 2233.9 2059.3 2017.4 Qatar 648.2 632.9 568.9 676.0 755.3 765.9 802.9 845.3 842.8 Saudi Arabia* 8,...
Volume: 52Issue: 35Published at Mon, 31 Aug 2009 -
Jordan Seeks Development Of Iraqi Gas Fields
...raise the supply of gas to Jordan via the Arab Gas Pipeline (AGP) to about 1bn cu ms/year (bcm/y) from the previous 700mn cu ms/year (MEES, 14 April), but that this was not sufficient because Jordan needs 1.5 bcm/y for industrial use alone until 2017. He added Egypt is unable to supply this ad...
Volume: 51Issue: 35Published at Mon, 01 Sep 2008