1. KRG Repayment Obligations Offset Oil Revenue Gains

    ...l prices first crashed in late 2014 the KRG has sold billions of dollars of oil in prepayment deals to secure up-front cash. It has also accrued debts to IOCs in its oil sector by failing to pay on time, and it sold a 60% stake in its key crude oil export pipeline to Russia’s Rosneft and must now pa...

    Volume: 64
    Issue: 50
    Published at Fri, 17 Dec 2021
  2. Saudi Budgets For 2022 Surplus: First In Nine Years

    ...ices began to tumble in the second half of 2014 (see chart 1). Since then, the kingdom has notched up eight consecutive deficits for a cumulative $460bn, if the kingdom’s initial estimates for this year are accurate. For 2021, the government’s latest expectations are that it will accrue a $22.7bn de...

    Volume: 64
    Issue: 50
    Published at Fri, 17 Dec 2021
  3. LNG Prices Show No Sign Of Easing

    ...*South Korea, the world’s number three LNG importer paid an average of $15.92/mn BTU for November-arrival cargoes, the highest since December 2014. Taiwan, the global number five, paid an all-time high $21.32/mn BTU.   *This indicates that Taiwan’s imports contained a much higher pr...

    Volume: 64
    Issue: 50
    Published at Fri, 17 Dec 2021