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Gulf Finance: Rise Of The Renminbi
...nks for the 30-year tranche of Saudi’s $17.5bn bond issued in October – Asian investors bought 22% of the $6.5bn Saudi 30-year notes. Saudi is expected to tap the international bond markets again in 2017 as it seeks to reduce its budget deficit. Asian banks, including Chinese, have considerable ex...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
BP Finalizes WND Purchase
...the second key element, alongside Eni’s 23 tcf Zohr development, in Egyptian plans to boost gas output towards the end of the decade. WND is slated for H1 2017 start up, ramping up to 600mn cfd by the end of the year and 1.2bn cfd – the equivalent of more than a quarter of Egypt’s current 4.3bn cf...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Bahrain LNG Plans
...er 9% up on 2014 and not far short of total capacity of 4GW. All Bahrain’s power plants burn gas. Earlier this year Bahrain announced a plan to add 1.5GW of generating capacity from 2017 at the Al Dur power and desalination plant. This week aluminum producer Alba also announced a plan to build a 1.35GW pl...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Algeria Looks May Trim Refining Plan Further As Reduced Export Revenues Bite
...finery plan, with both initially due for 2017 start-up, to be followed by similarly sized projects at Ghardaia and Hassi Messaoud. Sonatrach started civil works at Biskra in 2012 and officially launched the project in 2013, saying it would finalize deals with contractors by year-end. But the construction de...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Oman To Invest Up To $4bn In E&P Despite Cash Shortage
...tput would come from. Going forward the firm’s key output boost will come from its 40% stake in the BP-operated $16bn, 1bn cfd Khazzan tight gas project which is due to come online in 2017. The UK firm said earlier this year it would boost the number of rigs it has operating at Khazzan from six to 11...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Oman Starts Qualification For Three New Desalination Plants
...line in 2017-19 and will take Oman’s desalination capacity under development to 970,000 m3/d. OPWP expects Oman’s peak water demand to rise from 934,000 m3/d in 2014 to 1.34mn m3/d in 2020. Oman’s current desalination capacity is 740,000 m3/d. OPWP has awarded Singapore’s Hyflux and local firm Mo...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
GCC Ratings Under Pressure From Oil Price Slide
...st $80/B in 2015-17, compared with a slow decline to $95/B in 2017 in the firm’s previous forecast. In a report issued on 1 July S&P noted that key Gulf producers would find themselves in a complicated fiscal position if oil prices turned south – which indeed they did, just weeks after S&P pu...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Kuwait Plans Big Downstream Strides, But Takes Small Steps
...velopment of a 200,000 b/d joint venture refinery in Vietnam, which is due onstream in 2017 (MEES, 2 August), and is assessing a number of similar prospects across Southeast Asia. Kuwaiti officials have held talks with China about a planned joint refinery, but negotiations have reached a standstill. Ho...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
DEWA Plans $1.9Bn 2014 Projects Spend, Eyes Coal And Solar
...pected to be operational in 2017 (MEES, 25 October). More controversially, given growing environmental concerns in the region, Dubai has switched the fuel for its planned Hassyan independent power producer (IPP) project away from gas. Instead it plans to build a 1.2GW coal-fired plant, with the first of tw...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
OPEC Gets Through The Year But Oversupply Threat Looms
...om 2017-2020 but of course it is not that big a quantity…. we don’t say we are not concerned...but when you see the decline rate [of shale] and see the markets sometimes where they have a shortage here and there. To me we welcome it and also we can accommodate it,” Mr Badri said. Relaxed On Iran, Ir...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Eni Rocked By Algeria Corruption Probe
...June 2011). The Iraqi part of the investigations relates to Eni’s contract to spend $18bn raising production at the giant Zubair field from the current 270,000 b/d to 1.2mn b/d by 2017 (though there is likely to be some slippage on both volumes and date). Eni has maintained a code of si...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Gulf Arab Producers: We Can Guarantee Energy Security
...troleum (QP) to build a $6.4bn petrochemical plant to produce 1.5mn t/y of monoethylene glycol and 300,000 t/y of olefins (see page 17). If the final investment decision is taken the two firms will form a joint venture (Shell 20%, QP 80%) by the end of 2012 and start commissioning the plant in 2017. Qa...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Sasol Moves Ahead With Uzbekistan GTL Plant
...cision on the 34,000 b/d plant – Sasol 44.5%, Malaysia’s Petronas 11% and state-owned gas producer Uzbekneftegaz 44.5% – will be taken in mid-2013. It would then start up in 2017-18, Ed Cameron, Managing Director of Sasol Synfuels International tells MEES. The consortium will buy dry methane – ma...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
QP And Shell To Develop $6.5Bn Petchem Complex
...oducts manufactured at the new facility will primarily be marketed into East Asian growth markets, the statement added. The project is due to begin operation in 2017. Speaking after the signing, Mr Sada said that the project was part of Qatar’s strategy of building its chemicals industry, and “re...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds
...Middle East Economic Survey VOL. LIV No 50 12-Dec-2011 QATAR Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds Moody’s Investors Service on 6 December assigned an Aa2 rating to the Qatari government’s recent $5bn global bond offering in three tranches: $2bn due in January 2017...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
ECAs To Provide $10Bn Of ENEC’s Nuclear Facility Financing
...ggested that funding will be requested later in the year, given the amount of money needed to be raised and that this is a new sector, not only for the UAE, but the GCC. The first plant is expected to start operating in 2017. The other three plants are scheduled to be completed and operational by 20...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qatar Delays Barzan Project Due To Domestic Gas Supply Surplus
...Middle East Economic Survey VOL. LIII No 50 13-Dec-2010 QATAR Qatar Delays Barzan Project Due To Domestic Gas Supply Surplus Qatar delays Barzan – it has a gas surplus up to 2017 and do...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Future Global Need For The Increase In Iraq’s Oil Production
...low, Iraq has signed a number of contracts with major oil companies with a view to increasing its oil production from 2.5mn b/d to around 12mn b/d in 2017. Iraqi Upstream Awards Area Winning Consortium Remuneration Fee ($Bn...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Baghdad Round 2 Brings Multi-Million Barrel Production Promise
...adhban gave details of the Ministry of Oil’s 2008 five-year and 10-year plans. These called for oil production of 4.1mn b/d to be reached by 2012 and 6mn b/d by 2017. On exploration, the 10-year plan for 2008-17 includes adding some 40bn barrels of oil and some 70 trillion cu ft of gas to Iraq’s proven oi...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
Libya Delays Plans To Raise Production Capacity To 3Mn B/D Until 2017
...Middle East Economic Survey VOL. LII No 50 14-Dec-2009 LIBYA Libya Delays Plans To Raise Production Capacity To 3Mn B/D Until 2017 Libya has delayed its plans to boost oil production capacity to around 3mn b/d until 2017 because of budget constraints and the market situation, th...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009