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Algiers Aims For The Sun; Is Its Head In The Clouds?
...ogram to develop 22GW in renewables energy capacity by 2030, comprising 13.6GW of solar PV, 2GW of concentrated solar power, 5GW of wind power and 1.4GW from other sources (see table). The plans were introduced in 2011 and updated in 2015 (MEES, 3 April 2015). According to a 9 April statement by the En...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Sabic Output At Record High In 2016, But Net Income Lower In ‘Pivotal Year’
...an halving in oil prices far better than it did in 2009, when a more modest fall in oil prices saw earnings collapse to just $2.42bn (see charts). Net income has fallen every year but one since 2011’s record $7.80bn despite steadily rising output since. Production numbers are somewhat confusing as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...her in the Arab Spring in 2011, Tunisia has been seen as the last best hope of an Arab democratic transition, prompting international donors to pledge financial support. TUNISIA- IMF FORECASTS: REPEAT DOWNGRADES TO PAST PROJECTIONS UNDERMINE FORECASTS OF FUTURE IMPROVEMENT ON GR...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...proved contractual framework” at its key Algerian development project, 180mn cfd Timimoun, in which it has 37.75%. Sonatrach has 51% and Spain’s Cepsa the remaining 11.25%. (Total owned 50% of Cepsa until 2011 when it sold to Abu Dhabi sovereign wealth fund IPIC.) Start-up at Timimoun, a key element of...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...untry’s other means of covering its deficit is to draw down its foreign reserves. These had shrunk to $514bn at end-February – the lowest since 2011: they were $593bn a year earlier and peaked at $732bn at end-2014 (see chart). The sukuk helps to alleviate pressure on these foreign reserves. Moody’s as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...creased supply of gas however was a more notable development demand for power generation actually fell. Gas supplied to the sector rose 1.9bcm over the five years from 2011-2015, but fell 0.33bcm last year to just under 8bcm (see table). Concerns that demand growth was outstripping supply have pr...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
What’s Next For Sonatrach Sales Deals?
...6 2011 2027 Sonatrach 2 n/a ...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Algeria’s 2016 Gas Export & Output Records – Are They Believable?
...DICATED) 2016 vs 2015 2010 2011 2012 2013 2014 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Return Of Iranian Crude Makes Big Splash In Europe
...mmission. Of this, $812mn (17% of the total) came in December thanks to a confluence of high export volumes and rising prices. By comparison, EU imports of Iranian crude in 2011 were valued at $23.5bn. Iran’s EU successes last year made it the 9th largest supplier of crude to the bloc, but it remains well do...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt Receivables: A Glass Half Full Or Half Empty?
...the agreement” (MEES, 3 February). Dana’s latest comments take the firm back to 2014 (and similar comments as far back as 2011) when the company talked of “calibrating its capital expenditure [in Egypt] in line with collections,” with spending “re-phased” to a later period (MEES, 8 August 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
BP Egypt Output: Only Good News?
...16); for Baltim the figure was 28%. This means that a major ongoing program of new exploration and tie-ins is needed to keep production steady. The collapse in output in recent years is the result of a 2011-2014 investment hiatus. Whilst new tie-ins should stem the decline, it is far from clear that th...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt Foreign Reserves Hit Six-Year High But Still Long Way To Go
...Egypt’s foreign reserves rose by just shy of $2bn to $28.5bn in March, the highest since March 2011, as the influx of around $10bn in foreign aid and loans since November last year has helped the country’s ailing economy get back on its feet (see chart). Egyptian President Sisi’s trip to Wa...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Kuwait Plans To Double Debt Ceiling To $66bn
...2015 4Q16 vs 4Q15 4Q15 2014 2013 2012 2011...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017