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  1. Middle East NOCs Keep Spending Despite Global Upstream Capex Squeeze

    ...Global upstream spending is set for a cumulative 2014-17 fall of near 50%. But Mideast NOCs are benefiting from the downturn to lower drilling costs and renegotiate development contracts. Upstream oil and gas capital spending (capex) fell by a whopping 25% last year, to just $583bn, from $77...

    Volume: 59
    Issue: 37
    Published at Fri, 16 Sep 2016

  2. Falling Gas Prices Give Iran Dose of Realism

    ....93mn cfd) for 2014-15. Managing Director of Pars Oil and Gas Company (POGC) Ali Akbar Shabanpour said in June that output had risen to 431mn m³/d (15.2bn cfd, 157 bcm/year) and that it is planned to hit 526mn m³/d (191 bcm/y) by the end of the current Iranian year (March 2017). Averaging June ou...

    Volume: 59
    Issue: 37
    Published at Fri, 16 Sep 2016

  3. Iran Starts Work On Nuclear Plants, Eyes Local Fuel Supply

    ...pacity, and are scheduled to be brought online in 2023 and 2025, under an agreement signed by Rosatom and AEOI in November 2014. The agreement envisages a total of four new reactors being built at Bushehr, as well as four others at an unidentified site in Iran. Construction of the Bushehr-3 reactor is sc...

    Volume: 59
    Issue: 37
    Published at Fri, 16 Sep 2016

  4. UAE Solar Program Expands

    ...ese increased to more than 2GW in 2014 at peak demand times. The growing gap between Fewa supply capacity and local demand led the authority to sign a deal with Germany’s Siemens for a 2.2GW gas-fired plant to be developed by local firms under an independent power producer (IPP) scheme (MEES, 15 Ap...

    Volume: 59
    Issue: 37
    Published at Fri, 16 Sep 2016

  5. Surplus To 2018 Leaves Opec No Good Options

    ...have largely worked its way through the system. Refiners are “losing their appetite” for crude amid an “anemic outlook,” the IEA says, with Q4 runs set to be just 80,000 b/d up on the same period last year and overall 2016 gains the lowest in a decade. “In both 2014 and 2015, refining output gr...

    Volume: 59
    Issue: 37
    Published at Fri, 16 Sep 2016