- Sort by:
- Score
- Published ▼
-
Oman Achieves $1.17bn Surplus for Q1
...ffers to pay down debt.” 2022’s annual surplus of $2.98bn saw Oman end the run of 13 consecutive deficits stretching back to 2009 (MEES, 23 December 2022). The consecutive budget deficits meant debt levels have ballooned in recent years, especially after the 2014 oil price crash. Debt surged from 4....
Volume: 66Issue: 21Published at Fri, 26 May 2023 -
Oman’s State Energy Firm Profits From Improved Credit Rating As Economy Picks Up
...pths of the Covid-19 pandemic. The sultanate even achieved a $2.98bn surplus in 2022 which brought an end to a run of 13 consecutive budget deficits. That extended run in the red meant debt levels ballooned in recent years, especially after the 2014 oil price crash. From 4.9% of GDP in 2013 debt surged to...
Volume: 66Issue: 17Published at Fri, 28 Apr 2023 -
Iraq Drafts Blowout Budget: More Energy Capex, But More Wages Too
...cludes exports from the Kurdistan Region of Iraq, with which the government hopes to finalize a political agreement over monitoring the region’s 400,000 b/d exports (see p10). The oil price assumption is the largest in an Iraqi budget since 2013’s $90/B – the planned 2014 budget was also based on $90...
Volume: 66Issue: 12Published at Fri, 24 Mar 2023 -
Saudi Arabia Nets $27.7bn Surplus For 2022
...th a 22% increase to $38.3bn. Further gains are planned for this year, with budgeted capex of $41.9bn up 9.4% on last year’s levels. These capex figures remain well below historic levels. Saudi capex peaked at $85.2bn in 2014 before being slashed as oil prices dropped. But it was still running at $45...
Volume: 66Issue: 11Published at Fri, 17 Mar 2023 -
Iraq Looks To New Karbala Refinery To Cut Record Fuel Import Bill
...Hyundai Engineering awarded the EPC contract nine years ago (MEES, 10 January 2014). Since then, the primary gains to Iraq’s refining capacity have come from repairing existing units such as those at the Baiji refinery. Another key project is the construction of a 55,000 b/d FCC complex at the 35...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Saudi Export Revenues Topped $400bn For First Time For 2022
...SPITE A LATE-YEAR DIP AS CRUDE PRICES FELL BACK BELOW $90/B, OIL EXPORT REVENUES REMAIN WELL ABOVE RECENT LEVELS ($BN)... SOURCE: GENERAL AUTHORITY FOR STATISTICS, MEES. 3: ...AND WERE THE HIGHEST SINCE THE 2014 OIL PRICE CRASH FOR EVERY MONTH LAST YEAR($BN) SOURCE: GE...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Qatar Achieves Eight-Year High $24.5bn Surplus For 2022
...bounded following a $2.9bn deficit just two years earlier amid the Covid-19 pandemic. The latest figures from the Ministry of Finance show that last year’s surplus was the biggest since $29.8bn for 2014-15 (see chart 1). Qatar entered last year budgeting for a $2.3bn deficit. While few could have pr...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Opec Revenues Rise 50% To Eight Year High In 2022
...erged from 2020’s catastrophic Covid depths (see chart 1). Despite the huge back-to-back revenue gains, last year’s Opec export revenues look to have remained below 2014’s levels as the group’s fortunes have yet to fully bounce back from the price slump that began in the second half of that year. It is...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Iraq Eyes 2023 Budget Priorities: Can It Spend Oil Windfall Wisely?
...gh-level KRG source tells MEES that Erbil’s delegation is planning to return to Baghdad to resume talks end of this month.. MORE CAPEX, OR MORE PAYROLL? Last year marked the third year that Iraq has failed to pass a budget, after 2014 and 2020. If ID222bn ($153bn) is indeed the fi...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
Oman Achieves First Budget Surplus Since 2008
...n-hydrocarbon revenues of $8.36bn are also a record. Expenditure edged up this year to an estimated $33.99bn, from $32.25bn in 2021. But this was due to a $1.8bn increase in capital expenditure rather than an increase in subsidies or public sector wage bills. After ballooning to $39.4bn in 2014, Om...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Saudi 2022 Oil Export Revenues Top $250bn With Three Months To Go
...llars. At $253.9bn, the 9M 2022 figure was already well in excess of 2021’s full year figure of $202.2bn. Indeed, it is already in excess of the annual figures for every year since 2014, when oil prices tanked in the second half of the year, and only returned back above $100/B this year after Russia’s 24 Fe...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Qatar’s 2022 Export Revenues Top $100bn With Three Months To Spare
...0bn. Not since 2014 have the emirate’s exports achieved this level over the course of a year. With an entire quarter of strong exports yet to come, the question now is simply how high will the end-year figure be? Driven by booming LNG export revenues, Qatar has put together back-to-back monthly ex...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
Algeria Set To Squander Energy Windfall
...cording to Finance Minister Brahim Djamel Kassali. He expects this to further rise to $60bn in 2023 (see chart 1). And having last year notched up its first trade surplus since 2014, Algeria is set to repeat the trick this year with a more substantial surplus of $17.7bn according to the latest of...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
LNG Drives Record Qatar Export Revenues
...nths. As a result of this lag, August’s LNG prices were set by oil prices from March and April. These were the first months since 2014 when Brent crude averaged in excess of $100/B, and with monthly prices peaking at $117.5 in June, Qatar could well secure further revenues gains in September and Oc...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Qatar Export Revenues Surge Above $12bn
...As Europe’s gas crisis rumbles on, gas exporters are cashing in. Qatar’s export revenues topped $12bn in July for the first time since early 2014 and the gains could keep coming. Qatar’s export revenues jumped to $12.18bn in July, driven largely by its gas sector, enabling a mammoth $9....
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Saudi Arabia Rockets Towards $250bn Trade Surplus
...RTHER Saudi Arabia is investing heavily to diversify its revenues and has successfully built up its tax base, but when it comes to export revenues, oil remains dominant at some 80% of the total. And oil revenues climbed to their highest level since at least 2014 in June according to the latest go...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Oman’s Economy Rebounds With $2bn 1H Surplus
...08. Q2’s surplus of $1.12bn was up fractionally on Q1 (MEES, 27 May) for the highest quarterly figure since Q1 2014. Revenues were up across the board, with total 1H revenue of $17.47bn up 54% on 1H 2021 for the highest 1H figure since 2014 (see chart). Oman is on track to smash the plans set out in...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Qatar Export Revenues Soar Amid Tight LNG Market
...port revenues of $63.1bn – and ought to overtake 2021 full-year figures of $73.56bn during the current quarter. For 2022 as a whole a figure close to 2014’s $113bn hydrocarbon exports is on the cards. The eight-year high export figures pushed Qatar’s trade surplus up to $47.6bn over the first half of...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
KRG Revenues Up But Dire Finances & Political Disputes With Baghdad Linger
...able to pay state employees on time. In communication with Baghdad the KRG says that “from 2014 to 2019, the Federal Government has not provided [the KRG] its financial entitlements, forcing the KRG to find new sources of financing [prepaid debt] and areas of savings to provide for its expenses, in...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Saudi Oil Export Revenues Soar To $31bn For May
...Saudi Arabia is on track for record oil export revenues this year. May’s $31bn was the highest monthly figure since at least 2014. Diesel flows to Europe are on the up. Saudi oil export revenues climbed to a new post-2014 peak of $31bn in May as the energy giant capitalized on high oil pr...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022