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