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Aramco Kickstarts IPO Process
...pact of Opec+ cuts is being felt on export volumes which are on track to fall to their lowest levels since 2014 (see chart). Turning to Q3, Aramco posted revenues of $70.2bn and profits of $21.1bn. Unsurprisingly, despite the annual decline, these numbers dwarfed those of the largest IOCs, with Ex...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Egypt May Ax Coal Plans On Back Of Major Gas, Solar Expansion
...eliminary agreement. The latter is among projects earlier reported as likely to be postponed, along with gas-fired expansions at Damanhour and Mahmoudia (MEES, 16 August). Though final awards were only made last year they are the culmination of a now-outdated strategy set out in 2014 and 2015 as dw...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Algeria’s Renewables Plans Struggle To Advance
...en much better since, with a number of plants coming online. Although it has taken some time, of the big eight CCGT projects awarded in 2012 and 2014, at least two have started up (see map & table). The 1.016GW Ain Arnat CCGT plant in the northeastern Setif province first started up in open-cycle mo...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Saudi Arabia Expects Large Budget Deficits Until 2022
...With Saudi Arabia planning to run budget deficits until 2022, the kingdom’s own figures point to a cumulative deficit since 2014 of more than $450bn. Efforts to kick-start private sector development are essential if the government is to succeed in its critical efforts to reduce the economic de...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019