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Israel: Noble Plots ‘Near-Term’ Leviathan Go-Ahead, But More Sales Needed
...US firm Noble Energy says that sanctioning of development of its 22 tcf 2010 Leviathan field offshore Israel is “on track for end 2016/early 2017.” The firm now says that it can sanction phase 1 of development based only on domestic sales, and a modest export deal to Jordan. But given th...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
East Med Bidding: Israel Launches Round, Cyprus Progress
...Israel’s highly anticipated bid round for 24 offshore blocks (MEES, 30 September) was finally launched on 15 November after almost five years of no new exploration rights being granted. The deadline for the submission of bids is 21 April 2017 while winners will be announced on 15 July. Po...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Libya’s Rising Output: Now For The Hard Part
...Libyan output is at a two-year high. IOCs are skeptical on a further hike. NOC chief Mustafa Sanalla says production is running at 600,000 b/d and that NOC retains its plan to raise this to 900,000 b/d by the end of the year and 1.1mn b/d in 2017. The 600,000 b/d figure, in line with ot...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...G 6.9mn tons/year plant since its 2014 start-up under a 20-year contract for 1.2mn t/y. The company has also committed to buy 1.75mn t/y under a 15-year contract from the 8.4mn t/y Ichthys LNG in Western Australia which is scheduled to come onstream in 2017. It will also be receiving volumes fr...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Saudi Exports, Output Full Steam Ahead Pre-Opec Meeting
...,000 b/d to 41,000 b/d. Yanbu’s manager Shaker Mahrous says “In terms of gasoline production, Yanbu Refinery is already in 2017, as it has achieved its 2017 year-end gasoline production target.” Refined products demand declined by 7% from 2.186mn b/d to 2.028mn b/d for September, and demand is slightly lo...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Saudi Electricity Plans 5.4GW IPP
...l 2.80 2016 Dhuba-1* (SEC IPP) Gas/Solar 0.61 2017 Cogen x 3 (Ar...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
KRG Sees Signs of Green Shoots In Its Troubled Oil Sector
...oduction gains in 2017. But huge problems remain, not least that debt payments for earlier oil prepayments are crimping revenues to such an extent that oil revenues remain below the public sector wage bill. Refining runs have been slashed in a bid to maximize export revenues in order to make payments to IO...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Egypt IMF Loan Brings Short-Term Relief, But Uncertainties Lie Ahead
...ans to tap the international bond market for $2.75bn by the end of the year and can expect better terms after securing the IMF loan. Mr Kojak says Egypt is targeting 4-5% growth in 2017-18, rising to 6% over the medium-term which would help to reduce unemployment, projected to fall to 11-12% in 2017...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Algeria Raises $5.1bn In Bonds, Taps ADB For $1bn
...e 2017 draft budget which is being debated in parliament – with current expenditure down 9% and capital spending down 31% in real terms. The draft budget also envisages a rise in the price of subsidized gasoline and diesel (MEES, 14 October). Mr Baba Ammi says that the government has yet to de...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016