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Abu Dhabi Oil Shakeup Continues With Offshore Consolidation
...alan fields which produce around 20,000 b/d. Cosmo expects first oil from Adoc’s Hail field in the first half of 2017, with full production projected to be 20,000 b/d. Another 10,000 b/d is provided from the Total-operated Abu al-Bukhoosh field, and around 7,000 b/d from the Bunduq field. These are tr...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Iraq’s Falling Crude Burn Bolsters Exports
...Iraqi exports have remained largely static this year, but are set to increase in the fourth quarter as seasonal crude burn falls. With increased gas supplies freeing up more crude for export, Iraq’s 2017 export target looks eminently achievable. Iraq’s draft budget for 2017 envisions ex...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
More Delays, Cost Hike At Saudi Petro Rabigh JV
...The Petro Rabigh joint venture of state oil giant Saudi Aramco and Japan’s Sumitomo has acknowledged that construction of its Rabigh 2 expansion project will not be completed until the second quarter of 2017 with the anticipated total development cost now 10% higher than the previous fi...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Saudi Electricity Seeks Outside Funds For 5.4GW Capacity Hike
...l 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Ga...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Shell Restarts LNG Exports From Gas-Strapped & Cash-Strapped Egypt
...port tender is to be launched before the end of the year, with the bulk to be delivered in 2017 and 2018. Cairo’s desire for relaxed payment terms has meant that most of its import cargoes have come from traders at a premium to prevailing market rates for mid-to-long term deals from suppliers. Eg...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
IMF Praises Iran’s Planned Reforms, But Implementation Is Questionable
...The IMF says Iran’s economic reforms are on the right track. But Tehran has a fight on its hands to implement the reform plans before the 2017 presidential elections. The IMF concluded its second visit to Iran since May this week – and only its second since the 1979 revolution – and is...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Latest IMF Data: Iraq Was The Key MENA Loser From The 2015 Oil Price Collapse...
...RECAST) 2017 GDP GROWTH PROJECTIONS (% By DATE OF FORECAST) SOURCE: IMF WORLD ECONOMIC OUTLOOKS FOR RESPECTIVE DATES. OCT ‘16 REPORT PRESUMES $43/B FOR 2016 AND $51/B FOR 2017 (AVERAGE OF BRENT/WTI/DUBAI)....
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Russian Oil Output Breaks 11mn B/D In September, On Track For Annual Record
...nvinced that Opec producers will follow through on last week’s output deal. The country will continue to use a $40/B Urals crude price assumption in its 2017-19 budget planning. The rise in Brent to $50/B after the 28 September Opec announcement may just be a blip he told an investment forum in Sochi, Ru...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016