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Asian LNG Imports: China Drives Demand Despite Record Overland Russia Volumes
...21 (30.1mn tons) came much more recently than that of Japan (88.51mn tons in 2014), the recent trend has been similar. Korea has reversed previous plans to phase-out nuclear power and as a result LNG is set to play a lower-than-previously-envisaged role in the country’s powergen mix. For 8M 2023 Ko...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Morocco Renewables Plans Get Wind In Their Sails
...nfirmed it would supply twenty-seven 3.2MW wind turbines for the €140mn project, with commissioning scheduled for 2022. The US firm already manages Moroccan firm Nareva’s 200MW Akhfenir wind farm which was completed in 2014. 20-YEAR PPA As with Enel and Nareva’s Midelt and Boujdour wind farms, Ed...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Vision 2030: Is The Public Investment Fund’s Strategy Due An Overhaul?
...cal companies and real estate, such investment is challenging. Turning further to debt for financing is an option, but Saudi government debt is already on a sizeable upwards trend, with Moody’s estimating an increase from $12bn in 2014 to $140bn this year (see chart). IMF figures show debt soaring fr...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iran Offers Big Discounts To Retain Customers
...e last year before sanctions were tightened in 2012, these five bought 1.44mn b/d between them, before bottoming out at 971,000 b/d in 2014. They continued importing at that level thanks to waivers handed out by the US Obama administration, under which they escaped sanctions so long as they re...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Bahrain Taps Debt Market For Record $3bn
...17, gross foreign exchange reserves stood at $1.7bn, down from nearly $6.0bn at the end of 2014. This implies less than one month of current account payment coverage,” S&P said at the time. Although latest figures show this rebounding to $2.5bn at end-April. Fitch assigns Bahrain the highest ra...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Islamic Finance: A Young Industry Put To The Test
...eir assets by 12% in 2014 but this fell to 7% in 2015, according to a report published by S&P Global earlier this month (see chart 1). S&P Global predicts this slowdown will persist in 2016 and 2017, with growth stabilizing at around 5%. S&P cites two key factors as acting as a brake in 2017: the im...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
SEC Secures $1.3bn Sukuk
...rkets. Although SEC received a $13.2bn ‘soft loan’ from the Ministry of Finance in March 2014, it has raised $21.3bn from the finance sector. The loan is SEC’s first sukuk since January 2014. SEC has followed a recent GCC trend away from Islamic financing (see main story). It takes borrowing this ye...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Kuwait Subsidies Row Hampers Efforts To Cut Record Deficit
...15-16 2014-15 REVENUE 10.24 -3.36 -27.2 13.60 24.93 of wh...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Egypt Struggles To Raise Money For Imf ‘Bilateral Financing’
...yptian power projects, and in particular renewables, under a program instigated by the World Bank in 2014. Most recently, the European Bank for Reconstruction and Development announced it is considering a $500mn loan to Egypt to fund 10-15 privately developed solar projects, each with 20-50MW capacity (ME...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Saudi Oil Output To Top 10Mn B/D Through 2016
...ilst exports will be targeted above 7mn b/d,” Jadwa says. For 2015 Jadwa is forecasting an oil price of $52/B for Saudi crude, down 46% from 2014, and a slight increase to $57/B in 2016. Arab Light prices averaged $54/B for January-August 2015. The Jadwa report has revised up slightly its 20...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Egypt $8.4Bn Suez Funds
...scal year which started on 1 July. Mr Dimian says that Egypt’s GDP grew by 3.5% in Q2 2014. He earlier said he expects Egypt to have a $10-11bn financial shortfall for the current financial year (ending June 2015) and said closing this necessitates boosting growth to 6% and creating jobs to slash un...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Algeria Maintains High Defense Spending In 2015
....3bn) is up 9.6% on the 2014 budget in nominal terms, following a higher increase still of 15.7% over 2013. The budget allocations for defense spending surged in 2011 by 49.5% over 2010. Total expenditure in the draft bill is projected to increase by 15.7% to AD8,858bn ($112.1bn), while total re...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
IMF Awards Cyprus €85Mn After First Bailout Review
...2013 and 4% in 2014, led by domestic demand and a contraction of financial services and the construction sector (see graph 1). The relaxation of payment restrictions has facilitated transactions, but a higher reliance on cash transactions as people avoid the banking system could “create additional di...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Sudan Delays Ending Fuel Subsidies
...moderation and fiscal performance in the first half of 2013 exceeded budget projects, further action is needed.” Once finalized, the subsidy removal should take effect from January 2014, when its new budget is presented. Gasoline Retail Prices ($/liter, 2012) Turkey (hi...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013