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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 -
Aramco Sees Petchems SMEs As Key To Vision 2030 Transformation
...opylene rubber 75; ethylene vinyl acetate 70; polyethylene terephthalate 420 Sabic/Celanese Jubail 2017 Polyacetal 50 Sabic/Mitsubishi Ju...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Upstream Investment Slump Presages Output Crunch, Oil Chiefs Warn
...ffontaines. RECOVERY IMMINENT According to the IEA, supply and demand in the oil market will rebalance by 2017. “In 2016 we should see a surplus of about 1mn b/d following a 2mn b/d surplus in 2015; in 2017 there will be a balancing, with demand higher than supply going forward over the rest of the next 5 ye...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Prince Muhammad’s Vision 2030: Far Sighted Or Over-Ambitious?
...l giant Saudi Aramco, scheduled for 2017. He expects this to value the company at $2-3 trillion. The IPO will be floated on the Saudi stock market, but there are ideas of offering the Aramco shares outside Saudi Arabia, potentially via a New York-based fund. Thus Aramco will be transformed from an...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Majors Downgraded, Gulf Sovereigns To Follow?
...sing oil prices. Brent has averaged $45/B since mid-April, some $12/B higher than the agency’s $33/B 2016 oil price assumption (it was February’s decision to downgrade its oil price assumptions that triggered Moody’s ratings review for oil-linked companies and sovereigns; its 2017 oil prices assumption wa...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Total, Eni, Shell Downgraded; BP Escapes
...st production scheduled to come onstream in 2016-18, as well as rising prices, will lead to improvements in the company’s pressurized cash flow-based metrics in 2017 and beyond.” Key among these new “shorter-cycle higher return projects” is Egypt’s Zohr, which is slated to produce from late 2017, ra...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
IEA On Global Oil Supply/Demand Balance
...Non Opec Output Fell In Q1 (Mn B/D) But Opec Output Grew Strongly: With Iran’s ‘Return’ It Is Set To Grow Throughout The Year. This Means Record Stocks Will Continue To Build With No Significant Drawdown Before 2017. *INCLUDES NGLs. **END-USER DEMAND, EXCLUDES STOCK BUILDS/DRAWS (OP...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Flaring Advances Ignite Iraq’s Gas Sector
...oject, but Iranian officials claim it will be completed within weeks. How optimistic an assessment this is remains unclear. The second deal was signed in 2013 and is also for 10 bcm/year, beginning in 2017. It is to supply the 1.46GW Rumaila, 1.25GW Shat al-Basra and 500MW Najibiya power plants in Ba...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Crude Price Gains Further Reduce Incentive For Output Freeze
...at low prices are taking a toll on US shale output, moving the market back towards balance. The US government’s Energy Information Administration now estimates that the country’s output will fall by 830,000 b/d this year and a further 560,000 b/d in 2017 (see p24). The risk is that recent price ri...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Eni: Unlikely Libya Boost Returns North Africa To Center Stage
...Italian firm Eni saw its North African output rise to a record 38% of its 2015 total. The key boost came from a somewhat unlikely corner – Libya. The region will if anything increase in importance for Eni going forward with first gas from its giant Egyptian Zohr field slated for late 2017...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Corporate Profile: OMV Looks To Iran To Re-Boot MENA Portfolio
...s) out to 2020 despite taking a further ax to exploration spending. 2015 spending of €607mn on exploration was already down by 12% on 2014’s record €693mn. OMV plans a 26% cut to €450mn this year with a further 33% cut to €300mn for 2017 (and this figure maintained for 2018). Overall capex fell from €3....
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Saudi Plans $10bn Loan, First Since 1991
...ternational borrowing by Saudi Arabia, combined with the domestic debt issuance could push the general government debt to 9.4% of GDP in 2017, compared to 1.5% in 2014, due to the plunge in oil prices. Longer term, the issue of international sovereign debt will support the development of a market for Sa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
US 2016 & 2017 Crude Output Forecasts Have Been Revised Down By Almost 500,000 B/D In Just The Last Two Months... With Output Now Set To Contract By 830,000 B/D This Year And 560,000 B/D In 2017
...EIA FORECASTS FOR US CRUDE OUTPUT (MN B/D, BY DATE OF FORECAST) US CRUDE OUTPUT GROWTH (‘000 B/D) ACTUAL FOR 2013-15, LATEST EIA PROJECTIONS (APRIL STEO) FOR 2016 & 2017....
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Kuwait Bullish On Contract Award, But Quietly Shelves Production Target
...e p10 and MEES, 1 April). While production capacity is planned to rise to 3.165mn b/d by March 2017 according to Mr Jafaar, officials maintain that production will remain flat. This implies that Kuwait does not foresee full production from the currently shut in Partitioned Neutral Zone (PNZ) wi...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt: Receivables Worries Risk Choking Off Exploration Boom
...dependent Petroceltic’s 50% stake in both (MEES, 19 February). The commitment for North Thekah is $170mn with two wells (MEES, 3 January 2014). No wells have yet been drilled on either block, though Edison recently said it “plans drilling North Thekah towards the beginning of 2017. We would consider dr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Aramco/Sabic Make Up With Plan For Joint Oil-To-Chemicals Project
...nuary). Last week Prince Muhammad said that he is pushing for the Aramco IPO in 2017, and that while less than 5% equity will be offered in Aramco and its subsidiaries, Aramco’s shares will first be transferred to the PIF. In this way the PIF will “technically make investments the source of Saudi go...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Secures Saudi, UAE Funding For Power Expansion, Awards Wind Projects
...enty 2MW turbines – to be installed at an existing 200MW Gamesa-built wind farm. Gamesa says delivery of turbines for the larger project will begin in October for commissioning in third quarter 2017. Deliveries for the smaller project will begin in the third quarter for early 2017 commissioning. Ga...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016