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Aramco: Can It Pull Off A 2018 IPO?
...ccessful IPO? The twists and turns in the course of preparations for the IPO of state-owned Saudi Aramco have kept investors on the edge of their seats. Cracks in the plans for the IPO have kept appearing and as 2017 draws to a close, the late-2018 deadline looks tighter than ever. The fi...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Saudi 2018 Budget Delays Austerity To Jump-Start Flat Economy
...onomic stimulus alongside planned economic reforms will facilitate non-oil sector growth – a key pillar of Vision 2030. The 2018 budget was launched on 19 December. In an accompanying statement the kingdom stated that the economy contracted 0.5% in 2017. An economy mired in the doldrums would ce...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Iran Struggles To Attract Finance As Trump Ramps Up The Pressure
...ong more than 30 foreign companies that have qualified for oil and gas projects in Iran since sanctions were eased, the much touted re-opening of Iran’s oil and gas sector to IOCs is at risk of stalling. Iran was hoping to have signed three deals with IOCs under its new IPC terms by March 2017 (ME...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...apt to this new world LNG order. As of end-2015 Qatar was the world’s largest LNG producer with 77mn tons/year of liquefaction capacity. But it will be overtaken by Australia during 2017 and likely by the US early next decade (see table 1). Since 2005 it has had a moratorium on new development of...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Saudi Arabia Boosts Products Exports To Minimise Impact Of Crude Cuts
...Saudi Arabia is set to cut production by 500,000 b/d from October levels in January under the recent Opec/non-Opec output deal. Crude and refined product exports are both on track for record annual highs in 2016, but lower production will mean one, or both, will have to fall in 2017. But hy...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
The Iraqi State Faces A Perilous 2017
...Iraq is exiting 2016 buoyed by high oil prices, but faces a tumultuous 2017. The current administration is unlikely to be toppled, but as for the viability of the state? That’s a different question. Iraq ends 2016 with its leaders publicly praising the country’s security improvements, ye...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
BP Back in Business With Abu Dhabi Deal
...d-2017. Production gains from the onshore concession are an essential part of Abu Dhabi’s plans to increase capacity from 3.1mn b/d to 3.5mn b/d in 2017. The remainder is to come from the two offshore concessions, Adma and Zadco which are currently being merged (MEES, 11 November). While 3.5mn b/d looks ou...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Iran Looking Ahead To A Big 2017 In Its Oil And Gas Sector
...Iran can look back at a successful 2016 in its oil and gas sector, with production soaring. But 2017 looks to be bigger still as it aims to finalize contracts with IOCs. The bulk of international sanctions targeting Iran were lifted in January and the country’s crude output has soared by...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Middle East Set For M&A Boost In 2017
...nk of Abu Dhabi and First Gulf Bank. Due to be completed in Q1 2017, it will be the largest domestic Middle Eastern deal of all time, creating the largest bank in the Mena region. Many of the region’s biggest banks missed analysts’ earnings estimates in Q3 due to an increase in non-performing lo...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Qatar Slashes 2017 Budget Deficit But Maintains Spending At High Levels
...Qatar Slashes 2017 Budget Deficit But Maintains Spending At High Levels Qatar’s budget for 2017 projects that it will post its second consecutive deficit, although it expects this to fall $8.4bn to $7.8bn. But a conservative oil price assumption means next year’s deficit may actually be as...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Aid For Egypt, Iraq & Jordan
...facilitate access to water in Irbid and improve distribution. Jordan is also the recipient of a $250mn World Bank loan to help redress fiscal imbalances in the energy and water sectors and improve public services. Jordan expects to receive foreign grants of some JD777mn ($1,096mn) in 2017 to lo...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Mideast Set To Overtake N America As Top Per-Household Power User By 2022... For Overall Residential Energy Use The Mideast Was Already ‘World Champion' In 2015 And Is Set To Remain So Through 2040
... SOURCE: EXXONMOBIL 2017 ENERGY OUTLOOK....
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Algeria Refining And Petchems: Ambitious Vision, Feedstock A Big Concern
...nder for the new refineries at Biskra and Tiaret with a view to a 2017 start-up. However, Sonatrach has yet to award front-end engineering and design (FEED) and project management consultancy contracts for either. Meanwhile, Sonatrach planning director Lamine Ouis told last week’s North African Oil an...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Oman Advances Downstream Projects
...pelines and terminal are expected to be operational in the first half of 2017. The MSPP will carry up to 93,000 b/d of products between Orpic’s Mina al-Fahal refinery near Muscat, the Sohar refinery, a storage terminal at Jifnain and Muscat International Airport. The system will include 290km of re...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
MENA Coal Plans Supported By ‘Unrealistically Low’ Electricity Prices
...ty Utico/Shanghai Elec. 0.27 2016 1.28 Morocco Jerada Sepco III 0.32 2017 1.51 Tu...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
OPEC’S Choice: Low Prices Now, Or Low Prices & Low Output Later-Naimi
...mmodities Research said on 15 December that a move below $60/B is not sustainable in the long run “as it would place considerable strain on the cost curve of the unconventional supply system required to meet demand requirements in 2016 and 2017.” Its analysts expect Brent to average $67/B in the first half of...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Abu Dhabi Advances Upstream Projects Despite Mounting Cost Pressure
...8mn b/d target. Meanwhile, the Zakum Development Company (Zadco) is moving forward with plans to boost production at the offshore Upper Zakum field by some 200,000 b/d to 750,000 b/d by 2017. Adnoc holds a 68% stake in Zadco, while ExxonMobil and Japan Oil Development Company (Jodco) hold 28% and 12%, re...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Repsol To Boost Algeria, KRG Presence With Talisman Purchase
...wnstream operations in Oman, Egypt, Algeria and Morocco. Looking ahead, Repsol says that its 29.25% stake in the Reggane Nord project in Algeria, which will see first gas in 2017, will net the firm about 14,000 boe/d as it looks to expand its global footprint. Repsol has just two exploration blocks in Ir...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Egypt Starts Payments
...oducer suggests that the finance ministry has been the quickest to respond to Mr Biblawi’s announcement. Once the initial $1.5bn has been distributed, a further $3bn will be handed to IOCs in monthly instalments by 2017, the government says. Outstanding receivables are not the only factor deterring fo...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
Oman, BP Sign Final Khazzan Tight Gas Deal
...ticipated for late 2017, BP says. Under the terms of the deal, production will ramp up to plateau in 2018. BP, following the declaration of commerciality, retains 60% of the project, whilst state-owned Oman Oil Company (OOC) takes 40%. “The sanction of the Khazzan project follows an extensive and ri...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013