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Adnoc Gas Strategy Surges Forward
...s strategy aimed at achieving self-sufficiency for the UAE by 2030 (MEES, 9 November 2018) there are already clear signs of progress. The UAE’s net gas imports fell to 11.9bcm (1.15bn cfd) for 2018, the lowest since 2014, as output climbed faster than demand. Adnoc’s stated project targets are ea...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Oman Offshore Ambitions Creep Forward
...rway’s DNO and Korea’s LG International allowed the contract to expire in January (MEES, 4 January). OOCEP subsidiary Musandam Oil and Gas Company has since taken over. The two Bukha fields, within Oman’s only offshore producing license, produced a modest 15,700 barrels of oil equivalent per day in 2014...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Aramco Kicks Off Share Offering: But At What Price?
...ten repeated in recent months, the implied $2trillion overall figure, but also the desire for the flotation to be the largest ever IPO – surpassing the $25bn raised by the 2014 float of Chinese e-commerce giant Ali Baba. VOLUME VS VALUATION? Of course, the two aims are somewhat co...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
IEA Extends Opec’s Market Share Purgatory
...urces of production, including tight oil.” This indeed describes Opec’s 2014-15 ‘market share’ policy as driven by former Saudi oil minister Ali Naimi (MEES, 19 December 2014). Such a policy ostensibly looks an attractive long-term option for the likes of Saudi Arabia and the UAE. However, it wo...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Iran Ups Geopolitical Stakes With Nuclear Advances
...at is expected to take six years. The Bushehr-2 plant will be built by Russia’s Rosatom, under a 2014 agreement between Moscow and Iran for the construction of four new 1GW plants at Bushehr. Rosatom completed the Bushehr-1 reactor in 2011, generating electricity from fuel rods supplied by Ru...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
SEC Switches Privatization Plan From Sell-Off To IPPs
...abian Bemco for Qurrayah (MEES, 10 January 2014); and Acwa and Korea’s Samsung for Rabigh-2 (MEES, 6 December 2013). Of the 2019 projects, 10MW Layla Al-Aflaj solar, built with government institutes Kacst and Taqnia, started up in January. The 1.5GW Al-Fadhili cogeneration plant, built with state pe...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019