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Oman Budget Reforms May Ease Pressure On Gas-Fired Power Plans
...neration plans coordinated by state utility OPWP add to the burden, taking powergen gas demand from 7.1bcm in 2014 to 9.5 bcm in 2021. GAS PRESSURE Competition for gas from power generation, industry and enhanced oil recovery means that Oman’s LNG exports are in decline, falling 11% in 2014 and yet fu...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Opec Signs Off 2015 With Record Output
...venue in 2015 would be down a hefty $47.4bn from 2014 (a drop of 43.9%), the UAE remains committed to increasing production capacity from around 3.2mn b/d to 3.5mn b/d in 2017. While this won’t necessitate additional production, it makes a reduction less likely. Iran also looks set to go head to he...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Saudi-Iran Fracas Ratchets Up Regional Tension, Oil Output Likely To Rise
...s on fire on 6 January. However, neither the protests nor security crack-down have as yet been on the same scale as in 2011. It was for his alleged role in orchestrating these 2011 Shia protests that Shaikh Nimr was arrested in 2012 and sentenced to death in 2014. REGIONAL SUPPORTERS WEIGH IN...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Libyan Security From Bad To Worse As IS Trashes Oil Facilities
...r the Es Sider terminal has shipped crude since force majeure was declared on the facilities in December 2014. Force majeure was briefly lifted on the Ras Lanuf terminal on 2 July 2015, but an attempt to lift crude by the Tripoli-based National Oil Corporation (NOC) was blocked by the PFG and the in...
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 -
Total, Eni Stick With Cyprus Exploration
...to Israeli waters, but also declared the field a commercial (Israeli) discovery. Nicosia views the announcement as a strong-arm negotiating tactic on the part of the Israelis (MEES, 27 November 2015). Noble and BG are also reportedly close to finalizing a letter of intent signed in June 2014 to su...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Oman Slashes Subsidies In 2016 Budget, Announces Economic Reforms
...clude the impact of falling oil prices and the effect of regional and geopolitical conditions on the Oman economy, which would require suitable measures to sustain the financial situation and provide economic stability. OMAN'S 2014-2016 FINANCES (OR MN) *LATEST (JAN 16) FORECAST. SOURCE: OM...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Saudis Slash Subsidies As Oil Revenue Collapses
...FICIT Actual 2015 revenue is estimated by the ministry at SR607bn ($162bn), down 15% in nominal terms from the original budget projection, with oil revenue at SR445bn accounting to 73% of total revenue, a drop from the 87% share in 2014. Non-oil revenue however increased in 2015 by 29% to hit SR...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Iran’s Rohani: A Mid-Term Report
...veral months to materialize. And, finally, strong opposition by domestic hardliners to the agreement’s content in both Iran and the US, and the document’s initial uncertain fate in both the US Congress and the Iranian Majlis. To combat the lingering economic slack President Rohani, in August 2014, pr...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016