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Egypt Issues $1.5Bn Eurobond Mandate
...ggested that the new Eurobond could be as high as $2bn, depending on the market. Cairo spent E£44.8bn ($5.9bn) on subsidizing oil products in the first half of the current fiscal year (July-December 2014), slightly less than half the amount of E£100bn ($13.2bn) budgeted for full year. With the steep fa...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
UAE Eyes FDI Boost
...ee zones. FDI surged 25% in 2014 to exceed $13bn, after a 9% increase in 2013 to $10.5bn, the minister noted, quoting UNCTAD statistics. He adds that under the UAE Vision 2021, his government aims to achieve foreign investment flows equal to 5% of GDP. He also said that the UAE is keen to rank fi...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Jordan Slashes 2014 Budget Deficit
...JORDAN Jordan Slashes 2014 Budget Deficit Jordan cut its deficit (after grants) by 55.6% to JD585.3mn ($825.3mn) for 2014. This equates to 2.3% of GDP, down from 5.5% of GDP (JD1.32bn - $1.86bn) for 2013. While spending rose by 11% to JD7.85bn, revenue rose by almost 18% to JD...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
$3.8Bn Syria Pledges
...neral Ban Ki Moon, 90% of the pledges made in 2014 were honored by the donors. Syrians are the victims of the “worst humanitarian crisis of our times,” the Secretary General says, and that he has only “shame and deep anger and frustration at the international community’s impotence to stop the war.” In...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Benchmark Crude Prices
...Benchmark Crude Prices 2-Apr 23-27 Mar 16-20 Mar Mar-15 Feb-15 Q1 2015 Q4 2014 2014...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Iran’s New Generation Of Oil Contract ‘Finalized’
...November 2014. A ‘first draft’ of the IPC was unveiled at a conference in Tehran in February, with the aim of getting feedback from both local and foreign experts and companies (MEES, 28 February). Though Iran’s Deputy Oil Minister for International Affairs Ali Majedi recently said “some fe...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Rebels ‘Close In’ On South Sudan Oil Fields
...her ‘producing’ state – Unity – has been offline since the first week of 2014, after rebel forces took control of the fields, and damaged key oil infrastructure. Pre-conflict production was running at around 240,000 b/d. The rebel spokesman said forces were also nearing the Jonglei state capital Bo...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...January 2014, we have been in close dialogue with ministers… In the last couple of weeks we have seen the first indications of any barrier to progress by a negative vote in the Energy Committee, a subcommittee to the Tunisian parliament. PA Resources is not alone in this, and other operators are ex...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...fferent story. In our view, it would require an extra 2-3bn cfd of gas to replace 500,000 b/d of direct crude burning.” During 2014 and 2015 new combined cycle plants will boost fuel oil consumption – demand growth is forecast at 11% in both years – as gas supply remains tight. Overall, FACTS expects fu...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Drilling Boost For Services Firms
...source base.” Schlumberger expects strong activity in northern Iraq to continue throughout 2014. Mr Kibsgaard expects full-year Iraqi revenue level with 2013. Going into 2014, Schlumberger viewed the Middle East, as a “major growth driver” (MEES, 31 January), a prediction more than borne out in the fi...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Kicks Off Phase II Of Subsidy Reform
...pular support for Mr Rohani into the new year. Under the first phase of the plan, which began in December 2010, the cash handouts paid out exceeded the savings from reduced subsidies. This raised the already existing budget deficit. In the year which ended on 20 March 2014, the government paid $18bn in...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Libya: Oil Income Slips
...LIBYA Libya: Oil Income Slips Libya’s oil revenue in the first quarter of 2014 was “less than $4bn,” Acting Oil Minister ‘Umar Shakmak says. This implies average oil exports of around 400,000 b/d. The minister is optimistic that production can be quickly raised to 1....
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 24 Apr 14- 17 Apr 7- 11 Apr Mar-14 Feb-14 Q1 2014 Q4 2013 20...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Kuwait’s Unstable Politics Slow Oil Sector Advances
...its, secondary units, and offsite and utilities – for the much-delayed $14.2bn, 615,000 b/d al-Zour refinery. State-refiner KNPC expects to choose winning bids by the end of 2014 and to sign contracts in early 2015. Al-Zour will yield about 215,000 b/d of fuel oil, allowing KNPC to replace volumes ph...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Baghdad, KRG Talks Stumble; Pipeline Still Out
...manding that the draft budget delete reference to the volume of crude oil that the Kurdish region is committed to export in 2014. Erbil says the budget should refer only to total Iraqi exports. The draft budget assumes oil exports of 3.4mn b/d for 2014 and commits the KRG to 400,000 b/d of the total. Bu...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Gulf Keystone Secures Funding For Shaikan Development
...r general corporate purposes. The increase in Shaikan capacity from a second production facility is running behind schedule. GK had expected to reach its target in early 2014 after commencing commercial production in July last year at 10,000 b/d. The UK company has been marketing its share of...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
GCC Polymers Increasing In Volume And Sophistication, Says GPCA
...gineering plastics is “growing exponentially from a small base.” The 2.48mn t/y of new polymers to be added during 2014-18 will include a range of synthetic rubbers, thermoplastic resins and polyurethanes increasingly in demand from the automotive, electrical and electronic and consumer goods in...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Oman Hikes Desalination Plan In Line With Population Stats
...es peak water demand in the northern region – the Interconnected Zone (IZ: Muscat, al-Batinah, Buraymi, al-Dakhiliyah and al-Dhahirah governorates and Sohar industrial port) and Sur – increasing by 6%/year during 2014-20 to 1.177mn cmd (see table). This compares with earlier forecasts of 3-5%. Total an...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Iran Power Supply Up 4.6%, Capacity Hits 70GW
...IRAN Iran Power Supply Up 4.6%, Capacity Hits 70GW Iran generated 265.96TWh of electricity in the Iranian year ending 20 March 2014, up 4.6% on 254.27TWh the previous year, according to Deputy Energy Minister Houshang Falahatian. Implied average daily consumption of 30...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
IEA, Opec Views Diverge On 2014 ‘Call On OPEC’
...OPEC IEA, Opec Views Diverge On 2014 ‘Call On OPEC’ The views of OPEC and OECD energy watchdog the International Energy Agency (IEA) on the global 2014 demand for OPEC crude have sharply diverged in their latest monthly reports. While each chose to leave their fo...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014