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Algeria Raises Oil Output On Merk Record, Ourhoud Rebound
...mpression project involves two gas turbine driven compressors and expansion of the inlet liquid handling and associated utilities. BP first announced the investment in 2009, for 2014 start-up (MEES, 10 August 2009): it was already running behind schedule before the January 2013 attack knocked it further off co...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
LNG: Asian Buying Rises, But Output Up By More
...stralian output means any support to prices will likely prove transient. Imports by top global importer Japan, at 62.0mn tons in the first nine months of 2016, are down 2.2mn tons (3.4%) on the same period a year earlier and by 4.4mn tons on 2014’s record volumes. But for China 2016 is set to be a re...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Tightening Bunker Sulfur Specs To Boost Regional Diesel Demand
...most triple in 2015 compared with 2014, from 12,000 b/d to 31,000 b/d. In 2015 Rotterdam provided 180,000 b/d of marine bunker fuel, roughly the same as in 2014. SCRUBBER VS FUEL-SWITCH In theory vessels will be able to continue burning fuel oil with more than 0.5% sulfur, but only if they in...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Egypt Devalues Currency In Bid To Calm Forex Market
...reign grants have fallen sharply to E£3.5bn in 2015-16, from E£25bn in 2014-15 and E£95bn in 2013-14. Spending on energy subsidies is not going according to plan as projected in the 2016-17 budget at E£35bn. In the first quarter alone of the current year the energy subsidy rose to E£14bn, which on an...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
US Firms Pull Back From The World
...ise production in 2017 whilst further cutting capital spending (capex) which is already, at just over $5bn for Q3 2016, 50% down on 2014 levels. Chevron’s 2014 capex spend was $40.4bn, it was $33.8bn for 2015 and “we will likely end [2016] below $25bn in capital outlays, in fact potentially coming in cl...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
UAE Plans 3% Spending Cut For 2017
...er a five-year period with the aim of fulfilling the objectives of the UAE Vision 2021. Previously the UAE had issued a three-year budget for 2014-16, also intended as a planning tool to implement longer term policies (MEES, 17 October 2014). More than half of the 2017 budget outlay some Dh 25...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Algeria: Forex Down Again, On Track For $20bn Deficit
...ES CALCULATIONS. ALGERIA’S FOREIGN CURRENCY RESERVES ($BN, END PERIOD) *FORECAST BY PRIME MINISTER SELLAL, JULY 2016.SOURCE: ALGERIAN CENTRAL BANK, IMF, APS. ALGERIA: LATEST TRADE FIGURES INDICATE 2016 OIL & GAS EXPORT EARNINGS DOWN 58% FROM 2014...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016