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Iraq’s Embattled Government Under Fresh Pressure
...ess conference on 23 August, that the cabinet was ahead of schedule on budget planning and had met that day to discuss the 2017 budget (MEES, 26 August). In a separate statement from his office, he committed to sending the budget to parliament by mid-September. The 2017 budget will be set at an oi...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
New Iraqi Oil Minister Sets Out Priorities
...l production if it’s going to substantially boost its oil revenues. But this doesn’t look like occurring any time soon. UAE’s Taqa announced last week that first oil at the Atrush field – planned for 30,000 b/d – might slip into Q1 2017. Taqa is partnered with US-firm Marathon and Canada’s Sh...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
GCC Fiscal Reforms: Long Overdue And A Long Road Ahead
...arter of this year. The agreement paves the way for the introduction of these taxes in the GCC from 1 January 2017, for excise duty, and 1 January 2018, for VAT, respectively. The introduction of a GCC-wide VAT of 5% in 2018 will play a central role in supporting revenue diversification, however the li...
Volume: 59Issue: 33Published at Fri, 19 Aug 2016 -
International Donors Provide Fresh Funds For Countries Hosting Syrian Refugees
...ceive JD810mn ($1.14bn) in foreign grants. This is less than the JD890mn ($1.25bn) it received in 2015 and appears conservative (MEES, 25 March). The World Bank this month announced a new aid package of $1.4bn for Jordan under its Country Partnership Framework (CPF) over the six-year period 2017-22. An...
Volume: 59Issue: 30Published at Fri, 29 Jul 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 -
MEES Special Report: Jihadist Instability In North Africa And Beyond
...e development of upstream oil and gas potential. A series of new tight gas developments in the southwest of the country are set to begin coming onstream from 2017. All are operated by joint ventures between Sonatrach and overseas oil firms deliberately recruited for their expertise in developing di...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
BP: Mideast Moves To Center Stage In Cash-Constrained Times
...ojects where appropriate in response to the current business environment.” BP expects Capex of between $17-19bn for 2016 and 2017, a modest-to-zero reduction on 2015 Capex of $18.7bn, down by 18% from 2014’s $22.9bn. BP says it also expects to make $5-8bn from divestments by 2017. BP’s 2015 spend in...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...untry’s second year of production. Gas output has fared only somewhat less badly (see graph) More bad news came with Austria’s OMV revealing in its 18 February results presentation that first gas from southern Tunisia’s Nawara project has slipped from 2017 to 2018 following the start of pipe laying in De...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iraq’s Leaders Admit To Economic Woes
...ectric to boost production capacity, noting that payments would be over three years, starting in 2017, because right now Iraq does not have the money. GE is thus betting on an Iraqi fiscal recovery. Right now that recovery appears a long way off (MEES, 22 January). Finance Minister Hoshyar Zebari ca...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
Will 2016 See The ‘Cyprus Problem’ Become The ‘Cyprus Solution’?
...e Cyprus problem negotiations.” He says a new bid round will not be contemplated before the end of 2016 or possibly 2017, once what happens with talks on the Cyprus problem become clearer....
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Ninth-Time Lucky For Cyprus Gas Import Tender?
...illion BTU by 2025. According to the terms of the tender, first gas is to be delivered between 1 January 2016 and 30 June 2017, but that is looking increasingly unlikely and will most likely be revised if an agreement is reached with any of the bidders (MEES, 18 April 2014). ...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Israel Reaches Final Hurdle Before Gas Outline Implementation
...livered between 1 January 2016 and 30 June 2017, with Defa thought to favor bids that stipulate an earlier start date (MEES, 18 April 2014). Three bids are currently on the table: from a Greek consortium headed by local businessmen; from trading giant Vitol which this year opened an oil products st...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Chevron Optimistic On Neutral Zone, But Not Till 2017
...KUWAIT Chevron is optimistic that production at the Wafra field in Saudi Arabia and Kuwaitís shared Neutral Zone will resume by 2017. However, cost cutting measures in the face of sustained low oil prices threaten further delays to planned steamflood injection at the field. Chevron CE...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Iraq Progresses With Giant Gas-Fired Plant, But Where’s The Fuel?
...heduled for start-up in August 2017. However, this schedule appears overly optimistic, given the dire security problems in Iraq and the government’s already overstretched budgets for its ambitious oil, gas and power projects. Fuel availability is also a major issue for the Bismaya project as things st...
Volume: 58Issue: 42Published at Fri, 16 Oct 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 -
KRG Helping Hand To Kirkuk Province Threatens To Widen Rift With Baghdad
...tback value of $50-54/B for exports from Ceyhan, based on the same Brent price but minus a $5/B quality discount, $6/B pipeline, throughput and trucking costs to Fishkabur. GKP says it has brought down the per barrel production cost at Shaikan to $5/B in 2015 from $7/B in 2017. Its total gross in...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Firms Face Up To Mounting Libya Write-Offs
...pairment – rated the chances of a full resumption of operations on 1 January 2016 and 1 April 2017 at 50% each. TOTAL’S LIBYA OUTPUT (‘000 B/D, NET) 2010 2011 2012 2013 20...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Algeria, Poland To Share Shale Tips As Protests Continue
...rder (MEES, 13 March). The first exploration phase expected to last up to 2017, including the drilling of two wells and seismic acquisition. The UK’s BP, for its part, is currently conducting a desktop study in London. The lingering environmental protests are increasingly seen as a risk by foreign co...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Algeria Confronts Libya Spillover Threat
...ned Sonatrach taking up its mandatory 51% stake. The partners will assess the prospectivity of the block, with the first exploration phase expected to last up to 2017, including the drilling of two wells and seismic acquisition. The award also marked the return of Anglo-Dutch Shell into Algeria’s up...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
For KRG All Roads Lead To Turkey
...ate banks are also expected to finance a proposed gas pipeline from the Kurdistan region, says Mehmet Sepil, President of Anglo-Turkish Genel Energy, which will supply the gas from its Miran and Bina Bawi gas developments in Iraqi Kurdistan starting in 2017. SOFT TURKISH LOANS Mr Sepil said on...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015