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  1. Abu Dhabi’s Mubadala Cuts Energy Sector Exposure

    ...RMDOWN           The other major transaction this week involved Mubadala’s fully owned upstream subsidiary, Mubadala Energy (formerly Mubadala Petroleum). Mubadala Energy was led by Mr Kaabi between 2014 and 2017, and he has since remained chairman of the firm. The firm boosted its net output to a record 500,000 bo...

    Volume: 65
    Issue: 51/52
    Published at Fri, 23 Dec 2022

  2. Qatar Eyes Substantial $8bn Surplus For 2023

    ...r the World Cup, most notably opening a new airport in 2014 and a metro system in 2019, as well as greatly expanding its hospitality sector. Capex peaked at $28.2bn in 2016 but has been trending down as the tournament approached, and was $19.9bn in 2021. Minister of Finance Ali bin Ahmed al-Kuwari sa...

    Volume: 65
    Issue: 51/52
    Published at Fri, 23 Dec 2022

  3. Oman Achieves First Budget Surplus Since 2008

    ...n-hydrocarbon revenues of $8.36bn are also a record. Expenditure edged up this year to an estimated $33.99bn, from $32.25bn in 2021. But this was due to a $1.8bn increase in capital expenditure rather than an increase in subsidies or public sector wage bills. After ballooning to $39.4bn in 2014, Om...

    Volume: 65
    Issue: 51/52
    Published at Fri, 23 Dec 2022

  4. US Stocks At 37-Year Low But Repurchase Coming

    ...e start of the year. Whist the commercial stocks figure is little changed from 421mn barrels at the end of 2021 (though this was the lowest end-year figure since 2014), the SPR figure is down by a massive 215mn barrels (36%) on the start of the year for what would be the lowest end-year figure si...

    Volume: 65
    Issue: 51/52
    Published at Fri, 23 Dec 2022

  5. Saudi Arabia Increases 2023 Budget Expectations

    ....3bn, and to rise further to $41.9bn in 2023. These capex figures remain well below historic levels. Saudi capex peaked at $85.2bn in 2014 before being cut as oil prices dropped. But it was still running at $45.9bn in 2019 before the Covid-19 pandemic. The low planned capex figure for this year wa...

    Volume: 65
    Issue: 49
    Published at Fri, 09 Dec 2022