1. Abu Dhabi’s Taqa: Power Steady But Upstream Slumps With Capex Cuts

    ...20.71bn ($5.64bn) in Q1-3 2014 when Brent prices averaged $107/B. POWER VS UPSTREAM: THE HARE & THE TORTOISE              2014 also marked the peak of the relative importance of the firm’s upstream oil and gas segment relative to the much more steady earnings mainly from Abu Dhabi’s power market wh...

    Volume: 60
    Issue: 46
    Published at Fri, 17 Nov 2017
  2. Gulf SWFs Overhaul Their Strategies For A ‘Lower For Longer’ World

    ...plug deficits,” Elliot Hentov of State Street Global Advisors tells MEES. “The net effect is that they are still providing liquidity but the trend has dramatically slowed.” GCC SWFs’ total assets increased by $404bn from $2,519bn in October 2014 to $2,923bn in November 2017, a 16% rise, ac...

    Volume: 60
    Issue: 46
    Published at Fri, 17 Nov 2017
  3. BP Can’t Stop Falling For Low Cost Mideast Output

    ...lds the Kirkuk field’s Avana and Baba domes with a combined 160,000 b/d capacity, and has asked BP to help develop the field (MEES, 3 November). BP signed a deal to study the field in November 2013 with a view to further development, but the 2014 advance of IS put this on ice. Mr Townshend says he ha...

    Volume: 60
    Issue: 46
    Published at Fri, 17 Nov 2017