- Sort by:
- Score
- Published ▼
-
Egypt Tenders For Bumper LNG Imports As Gas Demand Soars
...erwhelmingly gas-fed, for 95% of national power supply for 2023 (MEES, 3 May). *Egypt’s gas output fell again to just 5.115bn cfd for April, down a whopping 1.3bn cfd (20%) on end-2022 and the lowest figure since the start-up of the key Zohr field in late 2017 (MEES, 14 June), whilst the country’s di...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Qatar Q1 Export Flows Normalize As LNG Spot Markets Cool
...gan supplying Bangladesh in 2018 under a 15 year contract to 2033 which was signed in 2017 (MEES, 30 June 2017). This follows previous deals for NFE volumes from 2026, including a 15-year 2mn t/y agreement in November with ConocoPhillips to supply Germany (MEES, 2 December 2022), and a massive 4m...
Volume: 66Issue: 22Published at Fri, 02 Jun 2023 -
Qatar Gas Exports Surge To Five Year High
...Qatari gas exports bounced back to five-year highs in April as seasonal maintenance work on LNG facilities was completed. Exports jumped above 16bn cfd in April for the first time since January 2019, and hit their highest level since June 2017 according to the latest figures from Jodi, pr...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Egypt Foreign Reserves At 5-Year Low As Cairo Awaits IMF Cash
....5bn at end-May, down $1.6bn on a month earlier for the lowest figure since June 2017 (see chart). This comes as Egypt’s economy continues to reel from high commodity prices linked to Russia’s invasion of Ukraine. Reserves have been on a downward trend since February despite key Gulf ally Saudi Ar...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022 -
LNG Markets: Demand Robust As Prices Hit $12/mn btu
....4mn tons for 5M 2021. *Japan has been the top global LNG importer since the 1970s and was only topped by China for the first time ever on a monthly basis in November 2019 (MEES, 10 January). Having only overtaken South Korea for global number two spot in 2017, there is now a fair chance that Ch...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Qatar Gets Post-Embargo Boost As Exports To Saudi Resume
...fferences remain between the two sides, but no winners had emerged since the onset of the embargo on 5 June 2017 (MEES, 9 June 2017) and bringing an end to this public rift was ultimately a pragmatic decision. With the embargo having forced a reshaping of regional trade links, a return to the pre-2017 st...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Saudi Awards Eyed As US Approves Funding Of Foreign Nuclear Power
...oject off the ground (MEES, 15 December 2017). SECURITY CONCERNS The DFC’s move to lift the ban on US state funding for overseas nuclear investment follows the March 2019 approval by the Trump administration of applications by six unnamed US firms to undertake preliminary work on Sa...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
World Bank Forecasts 2020 GDP Collapse: World -5.2%; Saudi -3.8%; Iraq -9.7%
...th -6.3% growth. Should these forecasts come to pass then Beirut will be left by end-2021 controlling an economy some 23% smaller in real terms than it had in 2017. The World Bank acknowledges that though it is forecasting a return to growth almost across the board for 2021 (it forecasts +4.2% for th...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Egypt Inks New IMF Program, Hikes Power Prices
...TERNATIONAL RESERVES DOWN ALMOST $10BN (21%) OVER LAST THREE MONTHS TO LOWEST SINCE 2017 ($BN) SOURCE: CBE. SUBSIDY EXTENSION Although subsidies on oil products have been largely removed, with Cairo implementing an automatic pricing mechanism since September last year, the pl...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Algeria Calls Time On Quantitative Easing
...non-conventional financing is over” confirming a policy shift indicated by the Bank of Algeria in a 1 April research note. This said, the program, initiated in September 2017(MEES, 15 September 2017) was “unjustified right from the start” with “conventional financial means yet to reach their li...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Egypt’s Freshly-Minted 2019-20 Budget Promises More Subsidy Cuts
...gins on 1 July. Key to Cairo’s economic plans are further cuts to spending on oil product subsidies. Latest official forecasts peg such spending at E£90bn ($5.1bn) for the 2018-19 financial year (ending 30 June), down 25% from 2017-18 and less than a third of the record $18.6bn spend seen in 20...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
DC’s Bahrain ‘Mideast Peace’ Conference: Deal of the Century or Damp Squib?
...rael-Palestine conflict once and for all. STICKS AND CARROTS It’s little wonder that Mr Kushner has chosen an investment rather than a political angle to kick off his Middle East peace initiative: since taking office in 2017, Mr Trump torched what little goodwill the US had left wi...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Algeria Cuts Deficit For 2018: Gains Will Likely Prove Short-Lived
...venue. Overall 2018 state revenues, at AD6,620bn ($56.5bn), were up 9.5% on 2017 in nominal dinar terms, though the gains fall to 4% in dollar terms given the continued slide of the Algerian currency against the greenback. $1 bought AD111 in 2017, AD117 in 2018 and an average of AD119 so far in 2019. Sp...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Qatar & Turkey: Brothers In Arms?
...The June 2017 Qatar embargo threw a spotlight on the deepening Doha-Ankara relationship. But trade volumes are modest, and the most ambitious contract to-date is a murky $5.2bn energy sector deal which raises more questions than answers. The 24 June re-election of Turkish President Recep Ta...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Egypt Continues Subsidy Reform, Hikes Fuel Prices
...e chart). For the current 2017-18 financial year ending 30 June, Mr Molla says subsidies are on track to hit E£125bn ($7.0bn), well above the budgeted E£110bn, but slightly down in dollar terms on 2016-17’s E£115bn ($6.2bn) spend (MEES, 23 February). The increase in fuel prices could help ea...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Iran: Growing Capital Outflow Threatens Economy Ahead Of Sanctions
...port on the crisis in Iran’s forex market. This showed a doubling of capital outflows from $20.2bn for the Iranian year to March 2017 to $39.2bn the following year; outflows soared to $13bn for the last quarter of that year. And that was before the US pulled out of the nuclear deal. The MRC also es...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Iran’s Banking Sector: Dark Days Loom
...ghtening of sanctions from 2012, the last year in which oil revenues were above $100bn. ASTRONOMICAL SUMS Freshly-released Central Bank of Iran (CBI) figures for the 2017-18 fiscal year (which ended on 20 March), published this week, pegs end-year bad loans at an astronomical 1,300 trillion ri...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
Kuwait Trade Surplus Falls In Q1
...Kuwait recorded a $5.3bn trade surplus in the first quarter of 2017, up $4bn on the same period in 2016. But as this is primarily down to oil revenues of $12bn, falling crude prices in Q2 imply an imminent drop-off. At $12.1bn, oil revenues represented 89% of total exports in Q1 (see ta...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Cairo Fuel Price Hike
...bsidy spend figure assumptions for both the 2016-17 and 2017-18 budgets (MEES, 9 June). The latest figure given by Mr Ismail for the still-not-approved 2017-18 budget (for the year beginning 1 July) was E£145bn on 6 June. But following this latest round of fuel price increases the expected 2017-18 fu...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Algeria: Deficit Down As IMF Warns On Over-Zealous Consolidation Plans
...venues rose by 43% ($4.5bn) to $14.9bn for the first five months of 2017 (see table). But strong oil price gains in early 2017 have since partly been reversed (see p16). Prices for Saharan Blend averaged around $47.5/B in June, in line with Brent, the futures curve for which is currently averaging ju...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017