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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