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OPEC At 60: Much Achieved, More Still To Come
...wnturn of 2014-16, and has played a major role in reviving the oil industry on the back of the unprecedented oil demand impact as a result of the Covid-19 pandemic. The decisions taken by the 23 DoC countries in April and June 2020 were well-informed and well-communicated and provided reassurance to th...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
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 -
SEC ‘Green Sukuk’ Raises $1.3bn
...ans to fund capital projects, although the largest contribution was a $13.3bn loan in March 2014 from the Ministry of Finance. The utility has a strong credit rating, enabling it to borrow at attractive rates. Earlier this month Moody’s (which gives SEC an A2 rating) said “the company enjoys a do...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Opec Secretary General Mohammad Sanusi Barkindo Speaks With MEES On The Occasion Of The Organization’s 60th Anniversary
...ving the way for a future supply crunch? A: To put the investment conundrum in some perspective, our projections show capital expenditure in non-OPEC countries plummeting by 23% in 2020, to about half the $741 billion record set in 2014. And as we all know from the oil market’s sharp downturn in 2014...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Sunny Hill Quits Egypt
...bstantially worse with the 2H 2014 oil price crash. The firm effectively went bust and was taken over by its key bondholder Worldview Capital in early 2016 (MEES, 8 April 2016). Worldview subsequently adopted one of the toughest stances on EGPC receivables of all IOCs in the country. It halted all but es...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Egypt Takes Oil Target In-House As Production Plumbs 40-Year Low
...gust). Indeed, for many, investment has never recovered from the oil price slump in the second half of 2014. For other key global oil provinces, not least the Middle East, the late-2014 oil price slump came on the back of years of plenty. But firms in Egypt had by early 2014 already endured three years of...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020