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GE Backs Saudi Vision 2030 In $3bn Investment Program With SAIIC
...dustrial value chains in Saudi Arabia. SAIIC and GE say they will roll out joint investments of $1bn (SR3.75bn) by 2017 in addition to an aggregate potential investment of $2bn (SR7.5bn) to “drive projects in water, energy, aviation, digital and other sectors from 2017.” As part of the program, GE will be...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Abu Dhabi Shakes Up Adnoc Management
...ctor in his appointment. Adco is targeting production of 1.8mn b/d by 2018, pushed back from 2017, but with output largely stalled at 1.6mn b/d, it may miss this target. WILL HE TWEAK ADCO TERMS? One issue facing Mr Ghafli is whether to improve the terms on offer to IOCs looking to join the Ad...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Iran Taps China For $1.5bn Refinery Upgrade, Warns Over Lack Of Upstream Progress
...pacity is 1.86mn b/d; completion of the three projects would lift crude and condensate processing capacity to 2.85mn b/d. Persian Gulf Star is the most advanced of the three, with NIORDC saying the first of three 120,000 b/d splitters is due to start up by the end of March 2017. Alireza Sadeqabadi, ma...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi Edges Up Capacity, Looks To IPPs For Boost
...arted up in third quarter 2014 is expected to reach full commercial operation this year, the 2.10GW Rabigh-2 CCGT plant is expected to start commercial operation in June 2017, and the 1.5GW Fadhili cogen JV between SEC and Aramco is “currently at the proposal phase.” SEC expects the signing of a co...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi 2030 Plans: Turning The Vision Into Reality
...troChina’s valuation briefly topped $1 trillion in the wake of its November 2007 floatation: it is now worth $192bn. LATE 2017: 5% ARAMCO LISTING? “What we’ve been hearing from the local banks and brokers we’ve been speaking to, who are among the biggest in the region, is that the Aramco listing will ta...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
New Saudi Minister Faces Task Of Turning Vision Into Reality
...ise overall capacity (MEES, 26 February). The delayed expansion of the Khurais oil field – initially scheduled for 2017 – remains on course for finalization in 2018. Capacity here is slated to increase by 300,000 b/d to 1.3mn b/d. In the longer term, Mr Falih will play a key role in driving fo...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iran Output Rebound Sets Stage For Saudi Stand-Off In Vienna
...16 contract, prices which imply an average value of $45/B for 2016 as a whole. The EIA report cited stronger than expected economic data as a key contributory factor. This has led the EIA to revise global demand projections upwards by 0.3mn b/d and 0.2mn b/d for 2016 and 2017 respectively, le...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
KRG Exports Rise With Boost From New Fields, But Takings Fall
...obable (2P) reserves were sharply downgraded in February (MEES, 4 March). Meanwhile, London-listed Gulf Keystone Petroleum (GKP) plans to produce 41,000 b/d by year-end at the Shaikan field, from around 35,000 b/d currently, but is hamstrung by more than $575mn worth of bonds maturing in 2017. It failed to...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iraqi Kurdistan Producers Seek Positives In Challenging Environment
...sue now, rather than making the coupon payments and not addressing the 2017 maturing of the debt that hangs over the company, GKP’s board appears to have confidence that a deal can be made with the bondholders. Resolving the issue would certainly be a positive development for the share price and would fr...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
OPWP Pushing Spot Market Development, Eyes GCC Electricity Trading
...VELOPMENT Barka 1 Ph 2 55 2016 Qurayyat IWP 200 2017 Salalah 2 IPP 445 2018 Barka 3 IWP 280 2018 Sohar 2 IWP 250 20...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
UAE Tendering 1.15GW Of Solar, Dubai Receives Record Low Bid
...pansion project is scheduled for completion by the end of 2017. UAE POWER GENERATION CAPACITY Plants GW Adwea 10 Gas-Fired, 1 Solar* 15.5 Dewa 10 Gas-Fired, 1 Solar^ 9.66 Sewa 6 Gas/Di...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Iran Approves Higher Budget Spending In 2016-17
...ections in 2017. The Majlis also wants the government to charge progressive prices for gasoline based on the level of consumption. Under the new system, which brings back fuel smartcards, car owners would be able to consume up to 180 liters of gasoline per month at the current price of IR10,000 ($0....
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Turkey To Cut Coal Imports
...owly – a 510MW plant at Soma, due for start-up in 2017 by China’s HEI, is the only coal-fired plant currently under development. Turkey’s plans for 4.5GW of lignite-fired capacity in the southern Afsin-Elbistan region and 1.32GW at Adana near the Mediterranean coast have not progressed. UAE’s Taqa was or...
Volume: 59Issue: 18Published at Fri, 06 May 2016