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Iraq Plans Oil Prepayments To Alleviate Financial Meltdown
...epayment contract with Vitol and local firm Matrix Energy in July. But governments walk a fine line when leveraging long-term revenues for an immediate cash injection. And Baghdad needn’t look far for examples. When oil prices collapsed in 2014-2015, Iraq’s Kurdistan Regional Government (KRG) turned to pr...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020 -
Covid To Cost Opec $250bn In Lost Revenues
...at would be bad enough, but it will merely be the low point of a lackluster run of earnings in recent years (see chart). Oil prices dropped below $100/B back in late 2014 and over the subsequent six-year period of 2015-2020, Opec’s export revenues are on course to come in at a combined $3.0 tr...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020 -
Libya: Oil Still Flowing But Revenues In Limbo
...vision of Libya since 2014 between rival eastern and western administrations has devastated the country’s finances and fostered a severe liquidity crisis which can only be addressed through the unification of the parallel administrations. A UN-led political process aimed at ending Libya’s nine-year ‘tr...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020 -
Kuwait Starts Up CDU In Delayed ‘Clean Fuels’ Expansion
...though work on 19 new units at MAB is ongoing. The CFP contracts were awarded in 2014, with KNPC expecting at the time that construction work would be finished completed in late-2017 (MEES, 21 August). Meanwhile state firm Kipic, formed to develop downstream projects in the Neutral Zone between Ku...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020