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Kuwait Bonds On Track
...Kuwait’s plans to tap the international bond market to finance the 2016-17 budget deficit are firming up. Minister of Finance Anas al-Salih says Kuwait will raise KD2.9bn ($9.6bn) in dollar-denominated bonds in Q1 2017. The issue will not only diversify the sources of government revenue, it wi...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Egypt’s Waning Gas Output Receives Nile Delta Boost
...EGYPT Rising Nile Delta gas output offers the promise of relief to ongoing shortages. Egypt’s gas output has fallen every quarter since Q3 2012, dropping to just 4.2bn cfd in the third quarter of this year. A significant hike is unlikely before late 2017 when Cairo hopes to have st...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Chevron Optimistic On Neutral Zone, But Not Till 2017
...KUWAIT Chevron is optimistic that production at the Wafra field in Saudi Arabia and Kuwaitís shared Neutral Zone will resume by 2017. However, cost cutting measures in the face of sustained low oil prices threaten further delays to planned steamflood injection at the field. Chevron CE...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
BG’s Egypt Decline Expected To Continue As Shell Takeover Nears
...rst ever cargo to Egypt during Q3. Egypt has now signed up to import a total of 167 cargoes until 2020 by which time it hopes to gain energy independence, following the discovery of the 30 tcf Zohr gas field by Italian firm Eni in August and UK firm BP’s West Nile Delta project coming online in 2017 (ME...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
S&P Downgrades Saudi, Riyadh Rejects Assessment
...mpromized political and economic stability, the agency says. Absent a strong increase in oil prices, S&P forecasts that Saudi Arabia’s fiscal deficit will only gradually narrow in the coming years: to 10% of GDP in 2016, 8% in 2017 and 5% in 2018, as planned fiscal consolidation measures begin to gain tr...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Saudi Economy Will Remain Coupled To Oil Prices
...en “based on planned fiscal consolidation measures” the deficit will be 10% of GDP in 2016, 8% in 2017 and 5% in 2018 “absent a rebound in oil prices,” S&P adds (see p18). NO GOOD OPTIONS Unlike previous episodes of oil price decline, Saudi Arabia has maintained oil output despite the 60% fa...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Saudi Arabia’s Major Gas Development Stalls
...lay in gas substitution for power generation, which vies for gas feedstock with the petrochemicals sector and desalination plants, will eat into volumes of crude oil available for export in the future at a time when Saudi refining capacity is set to rise by 1.2mn b/d by 2017. Total oil burn, in...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Qatar And China Strengthen Trade And Investment Ties
...ansformation in the coming years, when a number of Australian liquefaction projects are completed. Indeed, Australia is set to surpass Qatar as the world’s leading supplier of LNG in 2017. US LNG exports will follow Australia into the Asia Pacific market starting next year when Cheniere Energy’s first 4.5mn to...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Turkey Backs Gas, Renewables; May Take Nuclear ‘In-House’
...ojects either under development or planned due to raise this to 72.3GW by the end of 2017. Turkey’s total projects pipeline amounts to 22.3GW, including 9.2GW of nuclear and 8.8GW of additional coal-fired capacity from 2020 onwards. Gas, Wind And Geo The latest project to reach the construction st...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Abu Dhabi Wraps Up Finance For Mirfa IWPP
...4GW nuclear plants at Barakah, due online in 2017-20. Abu Dhabi Water and Electricity Authority (ADWEA, 80%) and France’s GDF Suez (20%) are targeting a phased start-up during 2016-17. Whether similar large-scale gas-fired capacity is sanctioned in the future may depend on UAE’s ability to so...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...ll produce 200,000 b/d. The 250,000 b/d Shaybah expansion is due to be completed in 2015 and Khurais in 2017, according to Aramco’s work schedule, ensuring that Saudi Arabia can maintain its current production capacity beyond the end of the decade. OPEC Demand Forecasts OPEC’s WOO expects gl...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
GCC Aid For Egypt Benefits Gulf Independents
...w blocks, taking two in the Nile Delta. The company last month said it had been paid $47mn (in Egyptian pounds) by Cairo, although $11mn of this has been ring-fenced for spending on its plans to expand its Egyptian output to 160mn cfd by 2017 (MEES, 24 October). Under the deal Dana Gas is allowed to ex...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Jordan Looks To Slash Deficit In 2015 Budget
...e objective of controlling and boosting the efficiency of public spending. The budget estimates annual GDP growth at 4% in 2015 (in line with the IMF’s latest estimate) and 4.5% for 2016 and 2017. On the expenditure side, current spending is estimated at JD6.9bn ($9.729bn), up 2.9% from 2014, ma...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Baghdad Caught in North-South Pincer As Basra Oil Heartland Seeks Autonomy
...x major oil fields in the south, within and around Basra province, that are being developed by foreign oil companies and where the bulk of additional crude oil is expected to be produced as Iraq ramps up to a targeted 9mn b/d of capacity by 2017 from around 3.3mn b/d. Call For Recogniton Ba...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Egypt Touts Block Awards But IOC Debts Mount
...periencing chronic delays. Originally slated for start-up in 2014, the 1bn cfd project will now likely come online in 2017. It is a delay that gas hungry Egypt can ill afford, and the government’s eagerness for future supply provides a powerful rationale for not letting payments to BP slip further....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Algeria Completes 1.2GW Plant, Building 11.2GW New Capacity
...andards. GE sees Algeria’s peak demand rising by 14% a year, from 12GW now to 20GW by 2017. Mr Yousfi’s sense of urgency in tackling the capacity requirement was reflected by the recent securing of deals for six 1.4GW CCGT plants simultaneously. Further ahead, he has also announced a plan to build a 1GW nu...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
November Political Changes Unlikely To Impact Energy Macro-Trends
...asons, why the OECD Energy Watchdog, the IEA, predicts total Middle East crude exports to China, will subside somewhat to 2.5mn b/d by 2017. According to the IEA’s Medium-Term Oil Market Report, total Gulf exports east will also decrease, but tepid EU demand and surging US supply will mean As...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
IEA Sees Ethylene Market Driven By Ethane Cracker Surge
...st and the US, according to the International Energy Agency (IEA). In the 12 October Medium-Term Oil Market Report the agency predicted that global ethylene capacity will rise to 183.4mn tons/year in 2017 from 147.6mn t/y in 2011, equivalent to yearly growth of 3.7%. In 2012, oil eq...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
IMF: Hydrocarbon Dependence Leaves GCC Exposed
...ending These levels of spending however are unsustainable in the longer-run, the IMF said, suggesting the GCC members should plan to reduce their government spending to make budgets more sustainable. Failure to do so could result in the group’s combined surplus turning into a deficit by as early as 2017...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
MENA Turns To Solar Power For EOR As Well As National Grids
...the Neutral Zone, whose production is shared 50:50 by Kuwait and Saudi Arabia. Chevron says it could increase production by an additional 500,000 b/d. A final investment decision on the full field steam injection program is scheduled for late 2014, with first injection scheduled for late 2017. So...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011