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Iran-Aligned Militia Attacks Complicate Delicate Iraqi-US Relations
...w system to importers and banks as opposed to black market dollars. Mr Sudani’s decision in January to reinstate Ali al-‘Alak as CBI Governor proved useful, given his long working relationship with his US peers between 2014 and 2020. But the recovery remains erratic and suboptimal, with li...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Libya’s Legal Battle To Recover Billions In Overseas Assets
...bya (MEES, 13 October). Since 2014, the country has had two administrations, each with its own legislative and executive bodies. One is the internationally recognized Government of National Unity (GNU), based in the western capital of Tripoli and led by Prime Minister Abdelhamid Dbeibeh (MEES, 12 Ma...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Kuwait’s Cabinet Looks Ahead To A Troublesome 2024
...ght consecutive budget deficits between 2014/15 and 2021/22 (see chart), but since September 2017 the government has been unable to raise debt to finance these deficits as parliament has repeatedly blocked the passage of a debt law to allow state borrowing. In September, Fitch affirmed Kuwait’s ‘AA-’ ra...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iraqi Kurdistan Poised For More Gains In 2020
...20’s potential gains are the product of sustained IOC investment in the region. Those IOCs have endured some lean times, with the share price of KRG-focused companies plummeting since early 2014 amid low oil prices, payment difficulties and delayed ramp-up plans. IOCs will feel the pressure to reward sh...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Libya’s NOC Forced To Shut In Key El Sharara Field
...utdown output level of 73,000 b/d was the highest since 2014 (see chart). NOC head Mustafa Sanalla at last week’s Opec meeting, eager to avoid being subject to output limits as part of the then under-discussion output deal, complained “we have internal cuts inside the country. Unfortunately, we have so...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
World Bank Oil Funding Ban To Hit Egypt Hard
...x blocks, a further two in the Gulf of Suez and the South Disouq block in the onshore Nile Delta. Its most recent awards came in 2014, with the North and South El Baraka blocks on the western shore of the Nile following state oil firm EGPC’s Upper (southern) Egypt arm Ganope’s bid round. EF...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
KRG Output Highest This Year, But Revenues Sink Further
...vernment receipts. The key dampener remains Kurdistan’s huge debt to oil buyers for prepayments in 2014 and 2015. Ashti Hawrami, KRG Minister of Natural Resources, puts the debt accrued to buyers in 2014-15 at $2.3bn, of which MEES estimates around $350mn has been paid off this year, leaving almost $2bn ou...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
South Sudan Oil Output Hike Remains A Distant Prospect
...the conflict. The IMF’s December 2014 Article IV Consultation put oil revenue at 95% of government revenue and around 50% of total GDP in the previous year. PRODUCTION RISES ALWAYS JUST ROUND THE CORNER For more than a year, the government has adhered to a narrative in which an up...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Russian Allegations Bring Renewed Focus On Islamic State Oil Smuggling
...arterly statements.” ILLICIT OIL AND GAS SALES The United States Deputy Secretary of State Anthony Blinken said at the Atlantic Council Energy and Economic Summit on 20 November that the group receives around $1mn a day from illicit oil and gas sales, down from around $2mn a day in 2014. Ms Ou...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
No Quick Fix To Turkey’s Energy Security Concerns
...The rapid deterioration in Russia-Turkey relations since Ankara’s 24 November downing of a Russian fighter jet on the Syrian border highlights the importance of energy security for Ankara. Russian volumes of 27.33 bcm accounted for more than half of Turkey’s gas imports in 2014 and the ab...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Iraq: Abadi Faces New Crisis As Anti-Turkey Protest Looms
...rrorism in a November 2014 press conference he held in Baghdad with Turkish PM Ahmet Davutoglu. Mr Abadi’s refusal over the course of this year to arm, or in any way, support Mr Nujaifi’s camps in Kurdish-controlled northern Nineveh suggests that he never endorsed Turkey’s intervention in the form it has ta...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Deficit Surges To $15bn
...LIBYA Deficit Surges To $15bn Libya’s budget revenue from January to November 2014 has fallen to LD19.2bn ($15bn) from LD58bn ($45bn) in the corresponding period of 2013, the Central Bank of Libya (CBL) said in a statement on its website on 9 December. The CBL attributes this decline to...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014