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Kuwait’s New Parliament Faces Major Economic Headwinds
...rving oil minister since 2011. 1: KUWAIT HAS STRUGGLED TO ELIMINATE BUDGET DEFICITS AMID LOW OIL PRICES ($BN) B=BUDGETED DEFICIT. ^AMENDED FROM ORIGINAL BUDGET. SOURCE: KUWAIT MINISTRY OF FINANCE, MEES. 2: KUWAIT EXPORT REVENUES ARE GRADUALLY REBUILDING FROM OIL PRICE COLLAPSE ($BN...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Jordan Gas Trade: Hello Israel, Bye-Bye LNG?
...rtainly did keep Amman from the brink: when Egyptian gas supplies dwindled in 2011, Jordan had to import and burn costly oil products (mainly diesel) in its power fleet just as oil prices exceeded $100/B – forcing the state firm Nepco to incur over $7bn in debt (MEES, 31 May 2019). But even with the st...
Volume: 63Issue: 49Published at Fri, 04 Dec 2020 -
Turkey’s East Med Drilling Campaign: Politics By Other Means
...illships and seismic vessels, TPAO had little experience of going it alone. All of its prior offshore exploration efforts were with international partners and none turned up commercial discoveries (MEES, 21 November 2011). You have to start somewhere, but TPAO’s lack of expertise doesn’t point to an ef...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Kuwait Enters New Era Following Emir’s Death
...approved by the National Assembly. Earlier in Emir Sabah’s reign Sheikh Nasser Mohammed Al Sabah and Sheikh Ahmed Fahd Al Sabah were two leading candidates but the pair have since fallen out of favor. The 79-year old Sheikh Nasser Mohammed was forced out of office as prime minister in November 2011...
Volume: 63Issue: 40Published at Fri, 02 Oct 2020 -
Tunisia: Southern Output Dries Up
...nisia’s oil and gas sector has been in almost continuous decline since the 2011 revolution. On 2 September, Tunisia inaugurated its 12th government in nine years. New energy minister Saloua Sghaier faces the daunting task of somehow rescuing a sector on its knees. But how long will she have? THE SL...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Libya: Symptoms Of A Failed State
...shed hundreds to the streets this week across key parts of the war-torn country. The overthrow of long-time leader Muammar Gaddafi in 2011 marked the beginning of a series of conflicts that has gradually led to a deep fragmentation of Libya. As a result, the ability of the ‘state’ to cater for the ba...
Volume: 63Issue: 35Published at Fri, 28 Aug 2020 -
IAEA Inspectors Return To Iran Sites Amid US Threats
...ternationally until US President Donald Trump unilaterally resumed sanctions in May 2018 – lost patience with Iran over the access issue and adopted a resolution calling for Tehran to “fully cooperate” with the IAEA (MEES, 19 June). Iran began its foray into nuclear power in 2011 with the operation of a 1GW re...
Volume: 63Issue: 35Published at Fri, 28 Aug 2020 -
Washington’s Obsession With Syrian Oil: What’s It All About?
...Donald Trump is fixated on oil fields in Kurdish-controlled areas of Syria, and has finally found a US firm to ‘develop’ them. But is it anything more than a political play? Since the beginning of Syria’s civil war in 2011, supporters of President Bashar al-Assad’s government have often po...
Volume: 63Issue: 33Published at Fri, 14 Aug 2020 -
Mena’s Poor Relations Turn To IMF To Weather The Covid-19 Storm
...START? Egypt’s tourism sector accounts for 6% of GDP, employs a tenth of the workforce and is a key source of foreign exchange (MEES, 20 March). And it had only just begun to get back on its feet following the 2011 Arab Spring and its ensuing instability. Tourism revenues hit a record high $13.03bn fo...
Volume: 63Issue: 23Published at Fri, 05 Jun 2020 -
Can Iraq’s Power Sector Maintain Momentum? .
...ll inherit several imminent startups that will add another 2-3GW of available capacity to Iraq’s electricity capacity. The first addition should come from China’s CMEC which is nearing completion on its 1.26 GW powerplant in Samarra, Salahuddin province. The $1.2bn project was initially awarded in 2011...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Libya’s Financial Vulnerabilities Laid Bare By Dwindling Oil Revenue
...ccessive governments following the overthrow of Muammar Gaddafi in 2011 tried to reign in militias by co-opting them into the system and handing them salaries. The state ultimately failed to control them, but it continued to pay their wages. Fast forward a few years and some of those militias have al...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Syria Emerges As Iran’s Top Crude ‘Customer’
...TTER OF SURVIVAL Iran’s Syria crude trade was never supposed to be about economics – rather it was about keeping key ally President Bashar al-Assad in power. And for Mr Assad, the Iranian credit line to import free crude was a matter of survival. Prior to the outbreak of war in 2011, Sy...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Oil Blockades Take Their Toll On Libya
...on fall to zero. And for now, the key instigator of the crisis, eastern general Khalifa Haftar, looks unlikely to give in. Libya is deeply divided. It has two rival governments, two central banks and two national oil companies. The chaos following the 2011 overthrow of Muammar Gaddafi has de...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Oman At The Crossroads As New Sultan Takes The Reins
...at increasingly threaten the country’s outlook. Problems started during the 2011 ‘Arab Spring’ when protests rocked Oman, resulting in two deaths amid a security clampdown (MEES, 7 March 2011). Muscat responded by ratcheting up government spending 26% to OR13.48bn ($35.2bn) in 2012, with spending gr...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020