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IOCs See Revenues Soar In 2018 But Keep Lid On Capex ($Bn, EIA Analysis)
...HIGHER OIL PRICES MEAN REVENUE* SOARED TO A 4-YEAR HIGH OF $144BN IN Q3… …BUT REMAINS WELL DOWN ON RECORD 2014 LEVELS CAPITAL SPENDING HAS BEEN SLOWER TO TAKE OFF. IOCS HAVE, FOR NOW, REMAINED PRUDENT WITH THEIR GROWING CASH WINDFALL *CASH FROM OPERATIONS. ^ES...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Fitch ‘Junks’ Oman
...one rung above junk (MEES, 23 March), whilst S&P on 9 November affirmed Oman at BB with a stable outlook. Oman has seen several downgrades since oil prices dived in the second half of 2014. Despite this year’s oil price recovery, Oman has been unable to improve its deficit-to-GDP ratio. This ha...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Saudi Reveals Optimistic 2019 Budget But Still Expects To Load Up On Debt
...is is a year-on-year increase of $11.2bn but is still well down on the August 2014 peak of $746bn. Clearly there is considerable scope for the kingdom to again turn to its reserves to finance its deficits, but with Riyadh not planning on balancing the budget before 2023, it can’t lean too heavily on th...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Lebanon’s Ailing Economy: Will The Music Stop in 2019?
...)… vs 1H17 1H17 2014 2015 2016 2017 1H...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Saudi Arabia: Cutting Its Way To A 2019 Production Increase?
...s commitments and still post a year-on-year production increase. The kingdom’s apparent munificence is taking place from record heights and it can afford to “cut” from these and still produce at a level significantly above that prior to the 2014 price crash. It may even come close to matching 20...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Qatar Petroleum Eyes Big Results Overseas In 2019
...recognisable over the next 10 years (MEES, 8 December 2017). Its first overseas forays began with the formation of Qatar Petroleum International (QPI) in 2005 (MEES, 6 February 2006). But overseas expansion under QPI long-time CEO Nasir al-Jaidah was modest: after Mr Kaabi’s appointment in 2014, QPI was sw...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Egypt Boosts Power Supply…
...rullus plant to the grid. A key aim is to enable “reliable power supply to energy-intensive industries” near Alexandria, Siemens says singling out “cement, oil and gas and petrochemical facilities.” Blackouts, particularly during the summer peak demand, season plagued Egyptian industry during 2014...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018