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Panama Expansion Puts East Asia In Reach Of Nascent US LNG Exports
...G cargo in February with the start-up of shipments from the first two 4.5mn tons/year trains at the Sabine Pass facility in Louisiana. And volumes from the US Gulf will soon become a flood, with over 14mn t/y more capacity (equivalent to 19bcm/year or 1.8bn cfd of gas) set to start up in 2017 to be fo...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Saudi Electricity Taps China For $1.5bn, Takes Expansion Funding To $33bn
...ant, due online in 2017, which is being built by Korea’s Hyundai Heavy Industries, incorporating turbines and generators from Japan’s Mitsubishi Heavy Industries (MEES, 11 December 2015). ICBC’s loan is not linked to a specific project, and is likely an opportunistic investment by China at a time wh...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Abu Dhabi Banking Giants In $29bn Merger
...spectively. The expected “effective merger date” is Q1 2017 and the combined bank will retain NBAD’s legal registration and the brand name “National Bank of Abu Dhabi.” FGB’s shares will be delisted on the effective merger date. Shaikh Tahnun bin Zayid Al Nahyan, currently FGB chairman, and brother of the UAE pr...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Iran: Payments Start Flowing But Fear Factor Remains
...rt of OFAC to be crystal clear about this because they want to keep a little bit of uncertainty and therefore leverage in the system. I think it is unlikely we’ll see normal trade with Iran restored in 2016 – I think it’s more likely to be 2017. It’s all driven by what the US does and says on fi...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Kuwait Eyes Short Term $17bn Debt Market Boost; Longer-Term Reform Is Needed
...uculent parliament. And with elections due by July 2017, MPs will be especially wary of supporting measures that could hit citizens in the pocket when they return from summer recess in October. Kuwait plans to tap the debt market to the tune of KD5bn ($16.7bn at KD1=$3.33) from domestic and in...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
QP Ousts Maersk At Key Qatari Oil Field Amid Sectoral Revamp
...tar announced on 28 June. Maersk’s current 25-year 100% operating production sharing contract (PSC) at al-Shaheen expires in July 2017. This will be replaced by a joint venture comprised of Total (30%) and state oil firm Qatar Petroleum (QP, 70%). Often seen as incidental to Qatar’s economy due to th...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Algeria: No Cash, Investment Slashed… Output To Soar. Come Again?
...nual report indicate that the company sees Algeria’s oil output rising to 75mn tons/year (1.62mn b/d using a 1 ton =7.86bl conversion factor for light Saharan Blend crude) in 2017 and 2018, before increasing further to 77mn tons (1.66mn b/d) in 2019 and 82mn tons (1.77mn b/d) in 2020. Algeria produced 1....
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Algeria Seeks Schedule Discipline For New Refineries, Hints At Outside Equity Need
...fineries to raise refining capacity from 651,000 b/d now to almost 1mn b/d. Mr Mekmouche says that if oil prices stay above $60/B from 2017 there is a “high probability” that Sonatrach will be able to finance all its projects “from its own resources.” But prices of around $30/B would leave pe...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Dubai Sets New PV Cost Benchmark In 800MW Phase Three Of Solar Park
...rgest single-site solar park in the world. A 13MW first phase was connected to the grid in 2013, while the 200MW second phase is scheduled to become operational in 2017. Dubai’s success with reducing electricity costs in its second and third phase solar park bids will likely be scrutinized with gr...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Egypt Boosts Offshore Gas In Bid To Turn Around Output Slump
...ok to expedite development. Start-up by end 2017 is targeted, ramping up to 2.7bn cfd by end-2019. This is highly ambitious: the IEA considers first output “by the end of the decade” more realistic (MEES, 17 June). Nonetheless, Eni is pressing ahead. On 20 June it awarded Schlumberger subsidiary On...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Oman’s PDO Bags $4bn Loan To Facilitate Bumper $20bn Upstream Plans
...bt service will rise from 30% of revenue last year, to 41% this year and 55% in 2017. MOODY'S GCC SOVEREIGN CREDIT RATINGS - 14 MAY DOWNGRADES Rating (outlook) was chg notes Saudi Arabia A1 (stable) Aa3 (st...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Kuwait, Saudi Spat Over Neutral Zone Heats Up
...olation of the bilateral agreement, he adds. He also says that work to cut emissions had begun in 2011 and was due to be completed in 2017. Mr ‘Umair says in the letter that the Kuwaiti side had suggested to the Saudis that production resume at Khafji at a reduced rate of 100,000 b/d, but that the Sa...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
OPEC Holds Ground After Russia Talks
...forts were being made to reduce capex further and should decrease to less than $20bn a year starting in 2017. ...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Another Summer Of Discontent For Iraq’s Basra Amid Power Shortages
...VELOPMENT ON HOLD The cash-strapped government in Baghdad has had to divert funds to the battle against IS and try to cut costs by scrapping some vital projects, which has frozen investment in new oil and gas capacity for this year and possibly up until 2017 (MEES, 17 July). The loss of territory ha...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Dubai Announces Financial Close For 200MW Solar Unit
...lar photovoltaic (PV) plant is being developed as an independent power producer (IPP) project by Saudi Arabia’s ACWA Power and Spain’s TSK, with start-up expected by April 2017 (MEES, 30 January). DEWA chief executive Sa’id al-Tayir says the solar park is “one of the largest renewable energy pr...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Nuclear Deal Breathes New Life In To Iran-Pakistan Gas Pipeline Project
...2017 Though the Iranian segment of the line has been complete for close to two years, work on the 800km Pakistani side came to a standstill soon after it began back in March 2013, with Pakistan citing both financial and political constraints. The threat of sanctions from the US for its in...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Partex Sees Adco Opportunity As BP, Shell Shun Terms
...d US players. Adnoc retains a 60% controlling stake in the restructured Adco, which manages 15 onshore fields that are currently producing 1.6mn b/d and are due to rise to 1.8mn b/d by 2017. TOTAL IN; EXXON OUT; BP, SHELL PLAY HARDBALL But ExxonMobil was apparently not impressed with th...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Egypt Petchems Plans Continue To Expand As Tahrir Gets Styrene Plant
...exandria } 1,020 460,000 t/y 45mn cfd ethane Ethydco Polyethylene (2015) Alexandria 400,000 t/y 460,000 t/y ethylene E-Styrenics Styrene (2017...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Egypt Lines Up Further Gas-Fired Capacity, Readies Renewables Tender
...18) 1.95 Gas Beni Suef (2017-20)^ 4.80 Gas Burullus (2017-20)^ 4.80 Gas New Capital City (2017-20)^ 4....
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Jordan Enjoys Cheap LNG Prices, But For How Long?
...ne). Vitol’s cargo is scheduled to arrive in mid-August and should be followed by more deliveries: Nepco has expressed an interest in an extra short-term deal of 18 cargoes per year for 2016 and 2017. Golar Eskimo, Jordan’s first LNG import facility, will be moored at Aqaba for 10 years under a de...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015