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Eni’s Zohr Under Threat From Water Infiltration
...2.7bn cfd was raised to 3.2bn cfd at the behest of Egypt’s President Abdel Fattah al-Sisi as Egypt suffered gas shortages between 2014-2017, causing countrywide power cuts. In June last year at a conference in Cairo delegates warned that over-drilling could result in the reservoir’s collapse but th...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Korea Crude Imports 6-Year Low, Taiwan Lowest In Decades
...e lowest annual figure since 2014. MIDEAST SLUMP Not only are Korean imports down but Middle East volumes are down further, by 10% for the first nine months of 2020 with Korea taking an 11-year low of just 1.68mn b/d from the Middle East in September. The region’s share of th...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
SEC $80bn Debt Dilemma
...reement with seven Saudi banks for SR9bn ($2.4bn) to finance “general corporate purposes including capital expenditure.” Overall, SEC has raised $51.3bn since July 2007, mainly through sukuk and bank loans. The largest loan by far, of $13.2bn, was granted by the Ministry of Finance in March 2014 (ME...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020