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Egypt’s Petchems Boosted By New Gas – But Demand Also Rising
...r power and heat generation averaged 3.01bn cfd in 2016, equivalent to 74% of the total average gas production of 4.06bn cfd. The percentage of Egypt’s gas burned for power and heat generation has been rising sharply in recent years, from 45% in 2011, and the situation is likely to get worse since ga...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Neptune Goes Galactic With $5bn Engie Deal
...ey submitted a development plan in 2009 but nothing appears to have happened since, save Australia’s Woodside selling its 45% stake to the Libyan Investment Authority in 2011, with Engie taking over as operator the same year. Engie has several exploration concessions in the region, including in...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Pearl GTL: Shell Bullish But Gasifier Worries Linger
...laysia. Pearl, a test case of whether the ‘Bintulu’ technology is fully scalable, is a two-train plant. The first train was started up in early 2011 and the plant reached full commercial operation by the end of 2012. Pearl is Qatar’s second GTL plant. South Africa’s Sasol started up the $950mn, 32...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
UAE Finishes Building First Nuclear Plant, But Start-Up Delayed To 2018
...erating systems will be conducted at each stage of this process over a period of several months.” When Barakah-1 is brought online it will be the second nuclear power plant in the Mena region, following the start-up in 2011 of a 1GW plant built in Iran by Russia’s Rosatom. The Russian state firm is in...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...nctions imposed on Libya in 2011. Ali Mahmud Hasan, who heads the LIA steering committee appointed by the GNA, has complained that the fund is losing money due to a lack of control over its equity and bond investments. But the unfreezing of the funds continues to be undermined by disputes over the le...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...rth $31mn, as the Libyan regime is prevented under sanctions from recovering unpaid debts. The LIA argues that as the debt pre-dated the imposition of sanctions in March 2011, it should not be subject to such restrictions. ...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
OPEC, Will It Have To Cut Deeper For Longer?
...) 2011 2012 2013 2014 2015 2016* vs’15% vs ‘12...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
South Sudan Looks Beyond Total For Block B
...uthern part of Sudan under the 2005 Comprehensive Peace Agreement. As the July 2011 independence of South Sudan approached, negotiations began to find a partner to replace US firm Marathon Oil, which had a 20% stake in block B until it withdrew in 2008 under the pressure of sanctions. Interest shown in...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Tunisia Gas Slump
...mpany adding that it did not envisage a near-term resolution to the shut-in which began 10 January. The company, previously known as Winstar, has been repeatedly hit by industrial unrest since Tunisia’s 2011 revolution (MEES, 28 May 2012). UK service firm Petrofac’s 30mn cfd-capacity Chergui field ha...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algeria Charts New Economic Direction. Is It Battling Against The Tide?
...ll trade data). It is, however, notable that surpluses were already shrinking rapidly from the bumper $26.24bn notched up in 2011 even whilst oil prices remained at $100/B-plus as Algiers sought to use public largesse to counter fears of Arab Spring ‘contagion’. By the same token the fact that th...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algiers Aims For The Sun; Is Its Head In The Clouds?
...ogram to develop 22GW in renewables energy capacity by 2030, comprising 13.6GW of solar PV, 2GW of concentrated solar power, 5GW of wind power and 1.4GW from other sources (see table). The plans were introduced in 2011 and updated in 2015 (MEES, 3 April 2015). According to a 9 April statement by the En...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Sabic Output At Record High In 2016, But Net Income Lower In ‘Pivotal Year’
...an halving in oil prices far better than it did in 2009, when a more modest fall in oil prices saw earnings collapse to just $2.42bn (see charts). Net income has fallen every year but one since 2011’s record $7.80bn despite steadily rising output since. Production numbers are somewhat confusing as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...her in the Arab Spring in 2011, Tunisia has been seen as the last best hope of an Arab democratic transition, prompting international donors to pledge financial support. TUNISIA- IMF FORECASTS: REPEAT DOWNGRADES TO PAST PROJECTIONS UNDERMINE FORECASTS OF FUTURE IMPROVEMENT ON GR...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...proved contractual framework” at its key Algerian development project, 180mn cfd Timimoun, in which it has 37.75%. Sonatrach has 51% and Spain’s Cepsa the remaining 11.25%. (Total owned 50% of Cepsa until 2011 when it sold to Abu Dhabi sovereign wealth fund IPIC.) Start-up at Timimoun, a key element of...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...untry’s other means of covering its deficit is to draw down its foreign reserves. These had shrunk to $514bn at end-February – the lowest since 2011: they were $593bn a year earlier and peaked at $732bn at end-2014 (see chart). The sukuk helps to alleviate pressure on these foreign reserves. Moody’s as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...creased supply of gas however was a more notable development demand for power generation actually fell. Gas supplied to the sector rose 1.9bcm over the five years from 2011-2015, but fell 0.33bcm last year to just under 8bcm (see table). Concerns that demand growth was outstripping supply have pr...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
What’s Next For Sonatrach Sales Deals?
...6 2011 2027 Sonatrach 2 n/a ...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Algeria’s 2016 Gas Export & Output Records – Are They Believable?
...DICATED) 2016 vs 2015 2010 2011 2012 2013 2014 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Return Of Iranian Crude Makes Big Splash In Europe
...mmission. Of this, $812mn (17% of the total) came in December thanks to a confluence of high export volumes and rising prices. By comparison, EU imports of Iranian crude in 2011 were valued at $23.5bn. Iran’s EU successes last year made it the 9th largest supplier of crude to the bloc, but it remains well do...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt Receivables: A Glass Half Full Or Half Empty?
...the agreement” (MEES, 3 February). Dana’s latest comments take the firm back to 2014 (and similar comments as far back as 2011) when the company talked of “calibrating its capital expenditure [in Egypt] in line with collections,” with spending “re-phased” to a later period (MEES, 8 August 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017