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Upstream Capex Edges Up But Recovery Remains US-Focused
...ght at the end of June, significantly less than the record 50 at the end of June 2011. SERVICES FIRMS REVENUE ($BN): MIDEAST REVENUES UP BUT SHARE DOWN AS NORTH AMERICA OPERATIONS GO FROM STRENGTH TO STRENGTH PERCENTAGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL NUMBERS ARE PE...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
LNG Start-Ups To Peak, Then Slump
...nce. The IEA estimates that investment in liquefaction will be just $16bn this year, the lowest level since 2010. • And much of this represents the tail end of start-up investment in mega-projects approved in the 2011-14 boom years. Two key Australian projects, 8.9mn t/y Ichthys operated by Ja...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Sudans Hope For Output Gains From Cooperation
...transit payments for the use of Sudan’s oil export infrastructure and overdue payments towards the $3.028bn agreed in compensation for Sudan’s loss of oil resources and infrastructure when the south became independent in July 2011. But Mr Gatkouth’s claim always appeared based on some overly op...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Bahrain’s Troubled Banking Sector Set For Turbulent Times
...Once seen as the Middle East’s banking center, Bahrain’s financial sector is in terminal decline. Seeking to finance its budget deficits, Manama has increasingly turned to its banks and their credit profiles are now inescapably intertwined. Since the outbreak of the Arab Spring in 2011, Ba...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Saudi Products Exports At Record Highs
...nce June 2014, while total oil stocks of 320.0mn barrels were the lowest since December 2011. Aramco’s push to expand its products exports means that it is becoming a bigger customer for its own crude. The company’s 2.86mn b/d of refining capacity is scheduled to get a 400,000 b/d boost beginning la...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Algeria: Reserves Slump To 12-Year Low, But Country Has Bigger Problems
...Algeria’s foreign reserves stood at just $90bn as of end-May, well under half levels during the 2011-14 years of $100/B-plus crude. The IMF says it expects reserves to fall further to $83bn by end-2018 and below $50bn by end-2020 (see chart). But as the Washington-based institution makes cl...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Libya: Oil Output, Revenue Losses Mount
...untry and have been shut in since the declaration of force majeure at Ras Lanuf and Hariga ports. NOC pegs lost Agoco output at 300,000 b/d, although this is likely an overstatement given chronic power problems have dogged output at the key Mesla and Sarir fields ever since Libya’s 2011 revolution. Za...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Lebanon’s Recurring Power Nightmare
...re actually from Egypt via the Arab Gas Pipeline (AGP) project (MEES, 26 October 2009). Per the deal’s terms, government officials estimated that if all three units at Deir Ammar were converted to run on gas it would save around $240mn a year with Brent at $75/B. Egyptian gas imports ceased in 2011...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018