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Reality Sets In As KRG Imagines Life With Less Oil
...ducting a range of federal expenses. But Reuters reports that the draft 2018 budget law cuts the KRG’s share to 12.6%. The 2017 budget pegs total expenditure of $90.6bn (MEES, 8 September) without setting out a KRG share. 12.6% of the 2017 figure would equate to $11.4bn. Prior to losing Kirkuk MEES es...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Israel Gas Projects Advance, But Buyers Remain Scarce
...ofitable. Output at Tamar hit a record 997bn cfd for 3Q 2017 despite a six-day shutdown for maintenance late in September after a crack was found in a subsea pipeline (MEES, 29 September). The shutdown “coupled with strong growing demand in Israel highlights the criticality of the Leviathan project in pr...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Mauritania Gas: Torturous Timeframe, Exploration Optimism Despite Drilling Flop
...atus of at least four years as a hydrocarbon producer (longer if Tortue development fails to proceed like clockwork). The country’s sole production since 2006 has been from the Chinguetti offshore oil field. But output dwindled to just 4,000 b/d in 1H 2017, too low to make production (via the Berge He...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
LNG Prices Leap On Record Chinese Buying
...• Prices for Asian spot LNG imports have jumped to around $9/mn BTU for December arrival cargoes. December is the peak month for winter (and thus annual) buying. • China is the key demand driver. Already for the first nine months of 2017, imports at 25.63mn tons, were up by a whopping 43...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt: Last LNG Tender?
...ypt. Oil minister Tarek El Molla says that Egypt will reach natural gas self-sufficiency by mid-2018 once Italian firm Eni’s 24 tcf Zohr gas field ramps up after its December 2017 start-up (MEES, 3 November). Egypt began importing LNG in April 2015 when gas output was 4.40bn cfd and has imported ar...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Abu Dhabi Completes 1.6GW Gas-Fired Plant
...Al-Mirfa CCGT (Gas)** 1.24 End 2017 Capacity: 30.07 Projects Awarded: Enec (2018-20) Ba...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt To Privatize Wind Management
...e Japanese Bank for International Cooperation (JBIC), Japan’s Sumitomo Mitsui Banking Corporation and France’s Societe Generale. Japanese export credit agency Nexi will provide backing. Construction will start by the end of 2017 and take around 24 months, Engie says. This seems optimistic given Eg...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Opec Output Falls Ahead Of Key Meeting As US Shale Eyes Price Rally
...US E&P companies in October was the most of any month in 2017 and that the additional capital will facilitate increased investment and support US crude output growth. 1: OPEC BASKET AT $4/B PREMIUM TO WTI, 5-YEAR LOW DISCOUNT TO BRENT ($/B, MONTHLY AVERAGE PRICES*) SOURCE: ICE, OPEC. ME...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Adnoc Makes $9bn Splash In International Finance Markets
...onomies. Saudi Arabia is the biggest government lender, with a recent $12.5bn bond. The Abu Dhabi government last month issued a $10bn three-tranche international bond and the Adcop bonds take to $53.5bn the amount raised by GCC international bond issues so far 2017 (MEES, 6 October). Among state pe...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017