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UAE Plans 3% Spending Cut For 2017
...nstruction sector in Dubai has been a key driver of non-oil growth in the UAE, although activity in this sector has slowed down in the past two years or so. According to an FT report in July, property prices in Dubai have fallen by around 25% since their most recent peak in 2014, but remain above their 2011 tr...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
South Sudan Mortgages Future Oil Output
...l sales in South Sudan since independence in July 2011. Between them, the two companies accounted for 11.4mn barrels of the 14mn barrels of crude marketed by the government in the first half of 2015 – more than 80% of the total. PRE-FINANCING PRECEDENT This is not the first time that Tr...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Qatar Out To Woo LNG Customers In Face Of Increased Competition
...clear fleet remained idle in the aftermath of 2011’s Fukushima disaster. It is also Qatar’s top LNG buyer: Japanese utilities took 16.14mn tons of Qatari LNG last year. But Qatar needs to be more agile if it wants to maintain export levels and revenue in the context of new LNG supplies reaching the ma...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Jordan’s Power Strain
...alth and education). But deficits by the National Electric Power Company (Nepco), which are considered sovereign debt and have helped push Jordan’s debt-to-GDP ratio back up to 80%, are off-budget. Nepco has been a major burden for the treasury since 2011, when “Arab Spring” instability brought an...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Syrian Oil Output Shrinks Further; Is An Endgame In Sight?
...eas fell to a mere 9,200 b/d for the third quarter this year, just 2% of the 387,000 b/d the country was producing before the country’s civil war broke out in 2011. Output averaged 9,688 b/d for the first nine months of this year, Syrian Oil Minister Sulaiman al-‘Abbas said this week, figures that im...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
East Med Gas Development: Pipeline Politics Drive Floating Solutions
...cosia. Mindful of the geopolitics, Eni (80%) and its partner Kogas (20%) have indicated that they would favor floating LNG (FLNG) for any discovery: the same partnership is already well advanced in pushing FLNG as a solution offshore Mozambique. For Cyprus’ only existing discovery – the 5 tcf 2011 Ap...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Suez Canal September revenue Dips Following Record august
...rth ‘000t % ‘000t % 2014 2013 2013 2012 2011 2010 Petroleum To...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
IOCS In Tunisia Look To Bureaucratic Debottlenecking
...tput since 2010. The aftermath of the 2011 revolution that toppled Ben Ali, saw substantial political instability, as a first government had to make way to a caretaker administration. As a result, exploration rights were not granted, and exploration and production permits not renewed, a serious bl...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Russia Denies Syria $1bn
...plemented by Russian companies. Russia has provided Syria with economic and military aid, as well as political support, since the beginning of the uprising in Syria in early 2011. In particular, together with Syria’s other strategic ally, Iran, it has provided Syria with oil products. Russian credit to...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Countries Face Up To Falling Oil Prices
...porters: Fiscal Breakeven Oil Price ($/B, IMF Estimates) 2011 2012 2013 2014* 2015* Algeria 109.7 12...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Ramps Up Aid
...ve been hard hit by the ongoing economic malaise in the EU, traditionally both the largest source of investment and their key export market. Lebanon and Jordan have been hit by spillovers from the war since 2011 in neighboring Syria. Though overall official external aid to these countries has mo...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Saudi Arabia: More Refining, More Burn, Less Exports (% Share Of Crude Production)
...cond 400,000 b/d plant, Yasref, starting up in late September. > Increased domestic refining has cut into the crude volumes available for export: crude exports at 6.66mn b/d were the lowest since March 2011. > Direct crude burning fell by 130,000 b/d to 770,000 b/d in August. But year-to-date vo...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 81.12 81.76 82.96 93.13 95.95 97.25 103.00 98.03 94...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Regional Alliances Leave Juba In Two Minds Over Planned Oil Pipeline
...sis that it would be both shorter, and cheaper to build (MEES, 6 September). For more than two years, since the South seceded from Sudan in July 2011, the two countries’ leaders have been unable to find common ground on a wide range of issues, resulting in persistent mudslinging and accusations of...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Supply Challenge Still Alive Despite Shale Surge
...deed, domestic energy demand within the GCC is growing at an annual 5% and in 2011 stood at 200mn tons of oil equivalent. That number is expected to double in the next decade, said a senior Gulf banker. Saudi Arabia consumes 2.8mn b/d during peak consumption periods and has recently taken to su...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Legal And Operational Challenges Complicate RWE Dea Sale
...vourably to imported gas. Therefore I believe there is room for compromise,” said Mr Schlichter. Egypt’s energy sector has been suffering from tardy government decision making, a result of the political upheaval following the removal of Mubarrak in 2011 and the subsequent military coup against Pr...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Mubadala In Asia, Africa Push As Questions Mount Over Middle East Assets
...20. Oxy and Mubadala also partners at the Mukhaizna development in Oman’s Block 53. Mukhaizna has plateaued at about 120,000 b/d, and Oxy (operator) continues to struggle to maintain this level – despite a prior plan to plateau production at 150,000 b/d by 2011 (MEES, 8 March). Some of Mubadala’s pa...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Syrian Economy Incurs $103Bn Losses
...fect of sanctions.) Oil Output Plummets In September oil production under government control was estimated to have hit a low of 19,000 b/d of light crude and condensate, compared to an average of 380,000 b/d before the start of the uprising in March 2011 (MEES, 4 October). Gas production in...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
UAE Issues 2014 Budget
...proved a three-year federal spending plan of Dh140bn ($38.1bn) for 2014-16, a 15% increase on the previous plan for 2011-13 (MEES, 9 November 2012). The three-year plan, first introduced in 2011, was intended to achieve sustained growth under the state’s strategic plan. The 2014 budget just announced is...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 96.38 97.87 101.48 106.27 106.55 105.73 94.17 94.18 95...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013